Forex Robots

We spent more than a month fully testing Forex GridBot Forex Robot. This is our final Forex GridBot review. Will it be Confirmed, Plausible, or Busted?

Forex GridBot placed 6 trades the past day, and wound up losing another $178 or so. Still no word from Forex GridBot support. I’ve contacted them a few times trying to find out if they had any suggestions as to why their robot is performing so horribly.

Forex GridBot placed 7 more trades the past day. 4 wins and 3 losses. Fortunately, the losses weren’t as bad as they have been. Unfortunately, the wins still weren’t enough to overcome the losses.

No trades today. No replies to either of my Forex GridBot support emails, except them asking for more information. I gave them the information they asked for, in the original email and the reply, and still haven’t heard back from them. Sometimes Forex Robot developers stretch out the email support in order to get you to pass by the refund return date.

No trades today. I did send an email to Forex GridBot support. Actually, this is the second time I’ve contacted Forex GridBot support.
The first time I emailed was on 7/6/09, I got an almost immediate response, and replied, then never heard back from them:

Forex GridBot blew up again. It placed another 6 trades today, and 4 out of 6 of them lost, totaling more than $500! I have verified all the settings, and they are set to the developers recommended settings. I sent an email to Forex GridBot support today. If I receive an answer, I will let you know what they say as soon as I receive it.

Forex GridBot blew up again. It placed 6 trades today, and every single one of them lost, totaling more than $1400! The odd part is that it kept placing buy trades during a period of a rapid downtrend. I don’t know what this robot is programmed to look for when it trades, but it sure hasn’t worked out for us.

We originally left the settings at default. One of our readers, Josh, informed us that it is possible default settings won’t work well with Forex GridBot. We contacted Forex GridBot support, read through the instruction manual again, and found that the robot is recommended to trade only from 12pm to 7pm EST. With the default settings, our testing of Forex GridBot was trading from 11am to 8pm EST.

No new trades were placed by Forex Gridbot today.

I still wouldn’t buy this robot. It is too erratic, and the losses (or drawdown) are larger than the gains. We just had an interesting comment from a reader saying he has awesome results and maybe our settings are wrong. I sent an email to Forex GridBot support to get some answers. We’ll see what they have to say.

The two open trades from yesterdays report on Forex GridBot Forex Robot closed out with a combined small profit. One was a loss the other was a win. No new trades were placed by Forex Gridbot since then.

Forex GridBot Live Testing Results:
-$1,362.18 (-13.6%)
Another 4 wins for Forex GridBot. It also has 2 open trades carrying a floating profit of about $12.
I still wouldn’t buy this robot. It is too erratic, and the losses (or drawdown) is larger than the gains.
Forex GridBot placed 6 trades throughout the past day:

Winning Trades: 4 (+$129.02)
Losing [...]

I still wouldn’t buy this robot. It is too erratic, and the losses (or drawdown) is larger than the gains. The win percentage is only about 60%

Abhorrent, appalling, atrocious, awful, beastly, disastrous, disturbing, dreadful, frightful, ghastly, gruesome, harrowing, loathsome, monstrous, dreaded, horrendous, horrid, and horrifying.

If I had to sum up the performance of Forex GridBot right now in one word, it would be… HORRIBLE.

Forex GridBot seems pretty unpredictable so far, where one day it falls hard, and the next it makes up some of the lost ground.

Day 9 testing of Forex GridBot was better than yesterday. Forex GridBot placed 7 trades today, and were ALL profitable! I nearly fell over when I saw that…

Forex GridBot is just proving to me once again that robots just don’t work. I realize it is only 8 days in, but down almost 13%

Forex GridBot managed to make a bit of a profit today, but is still down almost $900 in the first week of trading. I can’t wait to see how it does in the second week, can you?

Forex GridBot Live Testing Results: -$1,002.96 (-10.0%)
Day 4 live testing of the automated trading system called Forex GridBot was even worse than yesterday.
Forex GridBot placed 9 trades throughout the day:

Winning Trades: 3 (+$118.74)
Losing Trades: 6 (-$650.99)
Today’s LOSS = -$532.25

Think about this for a moment. If you had started out with a $1000 account, letting Forex [...]

Forex GridBot Live Testing Results: -$470.58 (-4.7%)
Another bad day for the Forex GridBot automated trading system. If you review the report below (that is the actual trading statement from the broker I am using to test this Forex Robot), you will see that out of a total of 16 trades, 9 were profitable, and 7 [...]

Forex GridBot Live Testing Results: -$358.87 (-3.6%)
Day 2 testing of Forex GridBot has gone much better. The GridBot made a total of 6 trades. The first trade was a loss, but the remaining 5 trades were profitable. This put us to the profit side for $130.79, or +1.4% for the day.
However, the bad news is [...]

Forex GridBot Live Testing Results: -$489.66 (-4.9%)
We have decided to restart the testing on Forex GridBot. One of our readers, M.R., was testing this robot for us, but decided to take the robot on a real money live account. In addition, M.R. decided to also do some manual trading on the same account. This means [...]