Today I’m reviewing a new expert advisor built with a focus on customized indicators used to identify proper trend reversals, Wolfgrid EA. This is obviously a grid trading strategy, which is generally a type of trading approach that Forex robot connoisseurs avoid due to its elevated levels of risk, but this system is backed by quite a few positive reviews from the Forex community. I’ll take a closer look at what the developer is offering the marketplace, and let you know if this grid methodology is different than the account killers that we’ve steered clear from in the past.
The developer of the robot is Dorian Baranes, a self-proclaimed analyst specializing in the FX market. Dorian develops for traders that have their own strategy they want automated, as well as providing his own products and signal services through the MQL5 marketplace. Located in France, during can be contacted via his MQL5 profile.
Wolfgrid EA Review
The goal of the Wolfgrid EA is to enter trades accurately first, and then delay positions if there is a trend reversal. All positions are managed by a “smart grid system,” which increases the lot size of subsequent trades after a loss is incurred. There is also a built-in security filter to “prevent the possibility of getting into an unexpected trend without rollback cost by a new release.”
The explanation provided by the vendor isn’t very clear or newbie friendly. There are only a few sentences, and they don’t dive into the intricacies of the grid methodology being utilized. With this type of strategy, I generally want to know as much information as possible, because grid systems have blown up a few of my accounts in the past.
Dorian does tell us the requirements of the expert advisor. It’s optimized to work on the M15 timeframe with the EURUSD pair, and traders should deposit a minimum of $1000, with a lot size of 0.05. Despite being a grid strategy, it is still compatible with US brokers. Compatibility is important, as you can see in my recent robot reviews of Forex Fury, Quick Scalp Trader and Forex Scalper EA.
- Type: Forex Robot
- Price: $395
- Strategy: Grid Trading
- Timeframe: M15
- Pairs: EURUSD
Coming in at the higher end of the pricing scale, the Wolfgrid EA is going for $395. Traders also have the option to rent the EA for $85 per month, or $195 for 3 months. The rental prices are significantly high, so I don’t recommend going down that path. The developers do provide a free demo, which has been downloaded over 4931 times, so I recommend that you test the demo if you are interested in the software.
The software was first published on August 15th in 2017, and was last updated on July 11th, 2018.
There isn’t much on the sales page, as the vendor only provides us with a back test, and a short video. In going through the 29 pages of comments, there are more back tests, and different settings available for the public, but I’ve been unable to find any Myfxbook accounts.
Dorian urges traders to analyze the Wolfgrid signals accounts in order to see how the software has been performing, but I’m unsure how viable and trustworthy these accounts are. I do not know if these accounts are tampered with, or if they include the some level of manual intervention, but we wouldn’t be privy to using the expert advisor.
My main recommendation here, is that the vendor provides us with a Myfxbook account as soon as possible.
Wolfgrid EA Client Feedback
With 45 reviews, and a 4.5 out of 5 star rating, the Wolfgrid EA is getting some pretty positive feedback from the marketplace. I’ll show you some positive and negative reviews, so you can get a better understanding of how the market feels about the software.
While I’m quite impressed by the professional approach of Dorian in how he’s handling the updates and support of the Wolfgrid EA. There is always a voice in the back of my head telling me to stay as far away as possible from any sort of grid trading robot. Our best approach is to utilize the free demo, and test the system for ourselves.
If you’ve anything you would like to add to the review, please do so now.