forex-goldmine.com - Gridweaver robot review - BUSTED! -$4997

[PipCop]

From www.forex-goldmine.com comes the Gridweaver, another popular EA. It is described as:

During periods of drawdown , the GridWeaver cools down the trading by taking dramatically fewer trades. It does that by dynamically expanding the grid size outward like an accordion opening up. On the other hand, if the trend is with us, and our equity is rising, then the EA starts taking more and more trades by dynamically compressing the grid size like an accordion folding back up. In addition, there is a system-wide stop loss that closes all trades at a certain programmable level of drawdown .

It is running on the 1 HR EURGBP chart with all default settings.

This was restarted since I had changed the settings from those which were recommended. It is now running on all default settings.

Here is the data:

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Should I buy/use this EA on a live account? - Government Required disclaimer - Earnings disclaimer

gridweaver

SE8

[rocolo]

I don't think , it is recommended to change lot size from 0.01 to 0.1. GW is intend (I think) need 2000$ balance for each 0.01 in position. If your account balance was 20 000 $ ...i think you could change lot size to 0.1.

[PipCop]

I am sure you are correct, but I am being optimistic since Gary's other EA has performed so well. In the event it blows up, I will restart this EA with the default settings.

[kat.miles]

Ahhhh... and it seems like only yesterday was telling me something about greed... oh, wait, it WAS yesterday. (kidding.) I'm running GW as well on a demo account with settings of 0.02 because I deliberately set it to 1000 instead of 2000. It seems to be doing about 70 per day and I feel pretty confident with it. It did close one trade this morning for a profit of 3 cents, but for the most part has been very consistent.

[teamrecon]

Originally Posted by kat.miles

I deliberately set it to 1000 instead of 2000. It seems to be doing about 70 per day

Do you mean you set the account balance to $1000 ?? If so does this reduce the trades taken ??

About 70 per day - Is this number of trades or total pips ??

Thanks

Neil

[rocolo]

I think he is talking about the balanceFactor set to 1000...so it will automaticly upgrade lot size to 0.02...(0.01 for each 1000$)

[garr8107]

PipCop, I wish you had started a second account for this agressive setting for Gridweaver, like you did for RoboMiner. I think you'll see that the market moves today (12 Nov) have strained the limits of the system. I believe Gridweaver is inherently more aggressive than RoboMiner, but it can recover if you keep the lot size small. With two accounts, we would have been able to contrast the two settings. As it is, I think the drawdown is way too high.

But I am very glad to find your site to begin with. You are providing a tremendous service with this level of testing.

Regards,

Bill

[PipCop]

Yeah, I was noticing that this one is getting hammered, so I think I may restart it with both a standard and high risk setting, both at the same time. Doing all this live testing is new to me, too, so I appreciate the feedback and suggestions as I'm no expert when it comes to all the little details which can affect EAs.

I stopped the RoboMiner one because it wasn't working with the settings I had. I will check in with the documentation to see how I can do that correctly, because I have not had time to review it carefully.

I'm glad you like the site. Please let me know if you have suggestions on how to improve things.

-James

[kat.miles]

Yep, that is correct. Setting the balancefactor to 1000 opened trades at 0.02 lots. I was doing $70 per day. Then I set up 3 accounts, 3 instances of GW. I'm interested in what the outer edge of sanity would be with this, from which I would dial back to something more reasonable.

Lessons learned: you can run with the lot setting to .1 lots, as PipCop has done. Setting it to .25 or .20 lots isn't that smart. It looks like it **may** be possible to run on .15 lots with lower market volatility .

[Colin G]

Kat It will certainly be interesting to see how and how quickly this takes to recover some equilibrium. On a live account it would test the nerves and faith. This would be a good time to open.