We’d like you to read a review of Grid Hero by Dave Ng. It’s awkward because the author is Chock Hwee Ng, not Dave. It was published more than three years ago, and the current version of it is 9.8. The last update was two years ago, on October 13, 2018.
Chock Hwee Ng has three products in the profile. His account has over 1600 friends and a 11960 rate. This rate is in the middle of the pack among other developers.
Detailed Forex Robot Review
The robot’s presentation has a standard format for the MQL5 community:
- The EA performs trades fully automatically.
- The robot trades using Grid and Price Action strategies.
- There’s a self-learned algorithm.
- It was tested and checked based on data from 2012-2017 years (the “Reversed Sampling” development methodology based on the “In-Sample” phase) and from 2004 to 2011 years (“Out-Of-Sample” phase).
- The whole period of the used backtest data is from 2004 to 2017.
- It completed the Monte Carlo Robustness Test and Delayed Slippage Test.
- The robot focuses on Scalping as the main strategy.
- It can check several time frames to detect trends.
- There are features like Time Filter, Volatility Filter, and Spread Filter.
- It has a High-Impact News filter that helps to avoid opening trades at the wrong hours.
- The main symbol to trade is EUR/USD.
- It trades on the H1 time frame only.
- It requires a low-spread ECN account to be profitable.
- The minimum leverage should be 1:400.
- The system doesn’t work under FIFO and NFO rules.
- The minimum deposit requirements are dangerous. It needs $4000 to get started.
- Many MQL5 published robots have the settings list. Grid Hero has it too.
Grid Hero Strategy Tests
There’s a EUR/USD backtest on the H1 time frame. The modeling quality was 99.90%. An initial deposit was $3000. It has become $120883 of the net profit. The Profit Factor was 2.72. The maximum drawdown was 5.98%. The EA closed 16942 trades with 73%-75% of the win-rate.
Real Account Trading Results
It’s a demo USD account on an Axi broker (extremely rarely used for serious trading). The robot traded automatically, having used technical indicators with 1:400 leverage on the MetaTrader 4 platform. The account has a verified track record. It was created on February 28, 2017, and deposited at $3000. Since then, the absolute account gain has become +72.99%. An average monthly gain was 1.41%. The maximum drawdown was insane – 81.96%.
Grid Hero closed 2469 deals with -432.6 pips. An average win was 8.91 pips when an average loss -20.76 pips. The win-rate was between 68% for Longs and 70% for Shorts. An average trade length was over twenty hours. The Profit Factor was 1.21.
As we can see, the BUY direction was constantly lost. All profits have traded in the SELL direction.
The robot focused on trading during night hours.
Friday was the less traded day because few trades are opened in the second part of the day.
Grid Hero ran the account with the sky-high risk to the account balance.
As we can see from the trading results, the EA used a Grid of five orders and closed them in loss.
The last trading activity showed that the EA couldn’t handle Grid and Martingale. It led to significant losses.
The price is $488 for a copy of a product. There’s no money-back guarantee as usual. We’re allowed to download it for free to check settings in MT4.
The developer has many reviews under his product. The last two years weren’t successful for the EA. So, reviews are mostly negative. It’s hard to tell if the developer wants to keep this product updated or for it – the game is over.
Grid Hero became a scam robot several years ago. Many clients noticed that the EA started blowing accounts, having traded Grid with Martingale deals and closing them with huge losses.
It’s clear that the EA should have been updated to the all-new market conditions, but the developer decided to do nothing. He made almost $500 for a copy and lost nothing in general, but clients did.