The Grandmaster Expert Advisor or Forex Robot is an automated trading system “designed to adapt and follow with the market.” The creator, TraderNick wants to offer traders a solution that mimics how he believes the big banks transact. He feels that using a strategy that focusing on building and managing positions before taking profits, is a method that every trader should try at least once. Today we will be providing a full review, and letting you know if this system meets our expectations. We will be analyzing the strategy, the results, client feedback and overall presentation.
TraderNickFX appears to be a newcomer in the Forex market, with his website being active just under a year as we write this review. The website shows that he has a full team, with employees involved in social media, marketing, software development, market analysis and more. Though, we have done additional research and haven’t found any information about any of the team members. The team is very green, which means they are lacking when it comes to market experience and reputation.
There is no location provided, but traders can email the development team at email@example.com.
The Grandmaster Expert Advisor Review
The sales page provides very little detail about the Grandmaster Expert Advisor, as we are expected to watch the 16 minute YouTube video instead. The video covers basic information about the product, how it works, like trading examples, and sets expectations of what traders can look to achieve by using it.
Generally, we prefer a full-length sales page for when I say that covers every single detail about the system, but this group appears to be utilizing a new age approach to Forex robots.
The software comes with default settings, and settings provided by the vendor. In addition, traders are expected to intervene manually when necessary, as mentioned in a couple of the comments below the YouTube video.
The video itself is well put together, as Nick exudes confidence and appears to understand multiple principles of Forex trading. This doesn’t qualify the software for best Forex robot status, but it’s definitely a step in the right direction.
According to the video, the Grandmaster Forex Robot uses a grid-based trading methodology. In our experience, grid trading is one of the higher risk trading strategies, but TraderNickFX promises that the system has “a heavy focus on risk management.“
To be more specific, the robot monitors overbought or oversold levels in order to find effective reversal trade setups. Then, it uses designated grid levels and a position size multiplier to open multiple positions, and hedge the markets. The main benefit of this type of strategy is that it allows traders to seek profit from both ranging and trending market conditions.
Grid trading systems generally don’t work with FIFO rules, due to the hedging, so traders in the US likely can’t use the software. Most systems like these are more inclusive, as you can see in our recent reviews of Celestial Trading Tools, and Forex Fastron.
While we don’t really connect with grid trading, we give TraderNick credit, and a high rating for providing detailed information about the approach.
- Type: Forex Robot
- Price: $250
- Strategy: Grid
- Timeframe: H1
- Pairs: USDJPY, USDCHF
Traders interested in purchasing the Grandmaster Expert Advisor inside-out for $250. Once traders make payments, they will be providing the software immediately via email confirmation. TraderNick provides a refund policy, that states all sales are final, thus you cannot get a refund at any time. So, if you are interested in the service, make sure you are confident in it, before you sign up.
We’ve been unable to find any 3rd party my feedback at this time, but this review will act as a hub for client feedback moving forward.
TraderNick does not provide any trading results for the Grandmaster Expert Advisor. There is an active backtest with poor modelling quality in the YouTube video, but that’s it. This is quite surprising considering this group appears to be taking a new age approach to Forex trading. They should certainly be providing a Myfxbook account for this robot.
We know that they have experience with the Myfxbook platform, because they have a real trading account showing TraderNick’s manual trades. It’s unclear as to why they don’t have a Myfxbook account for this robot, but it’s certainly needed, and will hurt their trading results rating.
Nick’s Manual Trading Account is No Longer Available
Looks like Nick provided a update video today on the Grandmaster Forex Robot.
The video announces the launch of version 5.0, discusses the strategy, and provides more insight into the service. As always, the presentation is very well done, intelligent and forthcoming.
It is sold somewhat as is.
Basically, the client needs to figure out the settings and trading approach they want to use with the expert advisor.
I see nothing wrong with this, but understand that it does mean that you will have to put in significant time testing.
In terms of trading results, there is a screenshot of a Myfxbook account on the sales page, as you can see here:
There is no link to this Myfxbook account as of yet, and I’ve searched on Myfxbook for “GMXBOT” and there are no systems listed. So, this Myfxbook account must be private. I would like to get a better look at it.
Here are the statistics that we know:
- Gain: 43%
- Daily Gain: 0.21%
- Monthly Gain: 7.49%
- Drawdown 31.10%
If the bot interests you, check it out on the A1trading website.
For the most part, the Grandmaster Expert Advisor presentation is professional and well thought out. We appreciate that they provide transparency about their team and their grid trading methodology. Yet, they are missing any verified trading results which is the most important aspect of any service, and really one of their only flaws.
If you have anything you would like to add to the review, please leave a question or remark below the article now.
The Grandmaster Expert Advisor $250
- Client Feedback
- Customer Support
The Grandmaster Expert Advisor is an automated robot developed by TraderNick. We are still waiting to see some verified trading results.
Video breakdown Backtest illustration
No verified results
Performance is up to the client