The GrandMaster Forex Robot is an expert advisor content of a new website TraderNick. Here the GrandMaster Expert Advisor is based on Grid trading strategy and recommends H1 trading timeframe. The GrandMaster will trade currency pairs like USDJPY and HSDCHF for you. The Price required to purchase a license of GrandMaster EA is $250. The entire presentation of the GrandMaster automated software is professional but the fail to provide a 3rd party client review for us to see.
What is GrandMaster Forex Robot (Found in tradernickfx.com)? Either is GrandMaster Forex Robot scam or legit?
GrandMaster Forex Robot Review
- GrandMaster Forex Robot is a program that claim to automate Forex trades. It’s like putting a plane on auto pilot. Traders can sleep through the night calmly knowing that their trades will be placed exactly at the times they designated. Sounds easy, right?
- Forex robots like GrandMaster Forex Robots are getting a lot of hype of late and Forex robot scams are not far behind.
- Forex robot like GrandMaster Forex Robot can only be as smart as its creator. The creators of these systems are looking to make a quick large sum of money and are not looking at the fact that the most predictable thing about the Forex market is the changes you cannot predict without watching the changes carefully. Anyone who knows the Forex market well and understands it will recommend a live person with their own trading strategy and then and only then does it make sense to automate any of it.
- The companies producing Forex robots like GrandMaster Forex Robot often rely on very broad, small print disclaimers to keep them out of trouble for promising tremendous results when those results are unrealistic in the long term.
- Most Forex robot scams are easy to pinpoint and would seem obvious to any investor. But even with blatant false promises of huge profits “while you sleep” millions of dollars are dropped into these Forex robot scams every day.
GrandMaster Expert Advisor Background and Strategy
As a matter of fact, GrandMaster Expert Advisor was developed by TraderNickFX Group that comprisies of TraderNick and other Forex and Stock analysts. TraderNick is quite a newcomer in the industry with their website being just a year old in active business. There is no location from where they are running their marketing, analysis and signals generation. However, clients can use the contact form at [email protected]
During our review of GrandMaster Expert advisor, we saw that the software works with the Grid trading strategy – involves hedging, or placing simultaneous buy and sell orders at certain levels. The problem with the against-the-trend grid is that the risk is not controlled. You will find with time that, even with grid trading, you cannot completely escape some market analysis.
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GrandMaster Expert Advisor Result
GrandMaster Forex Robot vendor did not provide a verified trading result from myfxbook or FXBlue. There are backtesting results which are not transparent as the many options you will see at myfxbook.
The problem is that Forex robots are run based on automated mathematical algorithms, not taking into account things like market conditions that vary with political issues, weather and other factors. The inconsistency of the market is impossible to program into a robot, and therefore the results of Forex robots are inconsistent as well.
Our best advise
Because Forex trading is still relatively unregulated, the number of scams seem to be ever-increasing. One area in which this happens on a regular basis is with automated Forex trading bots. Many of the systems make some pretty unrealistic claims, and promise a successful trading career, even when you’re asleep. They even seem to be able to publish positive results on their sites. However, a word of warning: These amazing results are often the result of back-testing, or based on hypothetical results.
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- Video presentation
- Backtesting results
- No verified results
- Grid trading methodology