GridMaster EA Review
GridMaster is a free grid trading Expert Advisor for MetaTrader 4 that automatically places a grid of orders to profit from price oscillations within a range.
What is Grid Trading?
Grid trading places multiple buy and sell orders at predefined intervals (the “grid”) around the current price. As price moves up and down, orders are triggered and closed at profit, regardless of market direction.
Key advantage: Grid trading doesn’t require predicting market direction — it profits from normal market oscillation.
How GridMaster Works
- Grid Initialization: Places pending orders at regular intervals above and below the current price
- Order Execution: As price hits grid levels, orders are triggered
- Take Profit: Each order has its own take profit (equal to grid spacing by default)
- Grid Renewal: When an order closes at profit, a new pending order is placed at the same level
- Risk Controls: Multiple safety mechanisms prevent excessive drawdown
Risk Management (Built-in Safety)
GridMaster includes five layers of protection:
| Protection | Default | Purpose |
|---|---|---|
| Max Open Positions | 10 | Limit total exposure |
| Max Drawdown | 20% | Stop new orders if DD exceeds |
| Max Lot Size | 0.1 | Cap per-order size |
| Max Total Lots | 1.0 | Cap aggregate exposure |
| Equity Protection | 70% | Close ALL if equity drops below |
Weekend Protection: Optional automatic closure of all positions before Friday market close to avoid gap risk.
Configuration
| Parameter | Default | Range | Description |
|---|---|---|---|
| GridSizePips | 20 | 10-50 | Spacing between grid levels |
| GridLevels | 5 | 3-10 | Levels in each direction |
| StartLotSize | 0.01 | 0.01-0.1 | Initial position size |
| LotMultiplier | 1.0 | 1.0-1.5 | Size increase per level |
Grid Size Guidelines
| Market Condition | Recommended Grid | Pairs |
|---|---|---|
| Low Volatility | 15-20 pips | EUR/USD, USD/CHF |
| Normal | 20-30 pips | GBP/USD, AUD/USD |
| High Volatility | 30-50 pips | GBP/JPY, EUR/JPY |
Rule of thumb: Grid size should be approximately 1.5-2x the average spread of the pair.
Important Considerations
Strengths:
- Profits in ranging/sideways markets
- No need to predict direction
- Consistent trade generation
- Works 24/5 automatically
Risks:
- Strong trends can cause significant drawdown
- Requires sufficient capital to maintain grid
- Multiple open positions use more margin
- Not suitable for accounts under $200
Recommended Account Setup
| Account Size | Grid Size | Levels | Start Lot | Max Positions |
|---|---|---|---|---|
| $200-$500 | 25 pips | 3 | 0.01 | 6 |
| $500-$2,000 | 20 pips | 5 | 0.01 | 10 |
| $2,000-$10,000 | 20 pips | 5 | 0.02 | 10 |
Getting Started
Important Disclaimers:
- Grid trading involves significant risk, including the potential for large drawdowns during strong trends
- Past performance is not indicative of future results
- This EA does not guarantee profits
- Always test on a demo account first
- Never trade with money you cannot afford to lose
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