This is a very high-risk EA but will give a consistently high return as long as the account is not blown-up. Yes, you are likely to blow up your account with this EA but that doesn't mean you can't trade it profitably.
How to Trade Grid Miner EA Profitably
First, you need to only deposit the minimal amount required to trade this EA and make a regular withdrawal on a weekly basis. You should treat your deposit as a balance DD that you can afford to lose in a normal EA instead of putting all your trading capital into this EA account. For example, let's say you have $5,000 of trading capital and your comfortable balance DD when trading a typical EA is 20%, you should only then deposit $1,000 into this Grid Miner EA instead of all $5,000 of your capital. To minimise the risk of blowing up the account due to a single bad trade, I've decided to trade 4 pairs simultaneously.
Then comes the position-sizing. Let's say that you have $1,000 to trade this EA. The maximal equity DD for the EURCHF pair is $2,745 per 1 lot, or $27.45 per 0.01 lot. The default setting for the Safety Margin factor is set at 2. Which means if you only trade 0.01 lot for this pair, you'll need at least $27.45 * 2 = $54.90 (This also means that you only effectively trade at 50% max equity DD for the back-testing period, giving you margin of safety of 50% before you blow your account). Since you have $1,000 and if you decided to trade all the 4 pairs recommended, you should allocate $250 dollar for each pair. Hence, the position sizing for this pair is 250/(2745*2) = 0.045537 lot or 0.04 lot. [TradingCapital/(max_equity_DD*Safety_Margin_factor)]
As for any Grid system, you should look at the Recovery Factor instead of the Profit Factor in the back-testing report. Profit Factor is meaningless because it doesn't reflect the expected return for a given level of risk. A typical Grid EA could give you a Profit Factor of 3 for the past 1 year of trading, which is very commendable for a normal EA, but with only a Recovery Factor of 2, it's basically a useless EA. It means that if you are trading with a 100% equity DD (assuming your account miraculously didn't blow up even at 100% DD) you can only expect to get a return of $2 for every dollar you risked for 1 whole year of trading.
For example, in my EURCHF report, I get a Recovery Factor of 10.64 for a back-testing period of 6 months. In other words, you can expect to make $5.32 in 6 months for every dollar you risk, given a Safety Margin factor of 2 (50% equity DD). If you trade 0.04 lots with a capital of $250, you can expect to make approximately 250*(10.64/2) = $1,330 in 6 months or $1,330/6 = $221 per month. Or you can use a more direct way to calculate the expected return; Total Net Profit ($29,203) * Lot Size (0.04) = $1,168 in 6 months or $195 per month. Differences are due to the rounding down lot size to 0.04 instead of 0.045537 for a more accurate position sizing.
The accuracy of the expected return given in the example above is quite high, given that the market is trading normally and you didn't get hit by a Stop Loss or blow-up your account. And that is a big 'IF' so traders beware and please understand the risk associated with this type EA. Also, the EURCHF pair example is the best pair out of all the 4 recommended pair. I strongly suggest you look into the back-testing report of the other 3 pairs, and decide for yourself whether to trade all 4 recommended pairs or only some of them.
Note: The Recovery Factor figure is only available in MT5 back-test report. I only use MT5 for back-testing, but trade using MT4 because MT5 EAs will quite often malfunction give out random entries and exits trade orders. MT4 is much more stable in trading live EA.
Optimized Parameters Settings
As of 2nd June 2020. The optimized settings will be updated regularly every 2 - 3 weeks, so please make sure to check on this page often.
|TradeSize (per $1,000 capital)||0.18||0.17||0.19||0.09|
Note: The trade size is based on $1,000 per pair. So if you only have $1,000 to trade but decided to trade both the EURCHF and USDCAD pair, then the position size for each pair would be:
EURCHF: 0.18/2 = 0.09 lot
USDCAD: 0.17/2 = 0.085 = 0.08 lot
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