Introduction
We have another trading bot on the block, folks, the Grid Manager. Lauded by some and criticised by others, this bot seems to have stirred up some mixed feelings. With an average rating of 4.78, it's not too bad, I guess? But let's take a deeper dive to see what's actually under the hood, shall we?Grid Manager Functions
According to its developers, the Grid Manager can trade on multiple currency pairs and timeframes. It uses a grid trading strategy – placing buy or sell orders at regular intervals in the market. In theory, this approach should maximize profits when the market is ranging, but it could also lead to substantial losses in a strong trending market. But again, it's just a theory.Analysis of Results
Looking at the bot's performance over the past year, it does seem to have had a fair share of successful trades. However, like any other sophisticated trading algorithm, the Grid Manager is not immune to losses. Some users have even suggested that it lacks key features such as setting default settings and trailing stop loss functionality. So, it's not all shiny and gold.Pros and Cons
On the plus side, Grid Manager is easy to use and relatively successful in a range-bound market. However, its failure to include important features like trailing stop loss and default setting options is a glaring shortcoming.Grid Manager Source Code
It is worth noting that we do not have the original source code for the Grid Manager that is sold on the MQL5 website. However, we can generate a code based on the bot's description from the MQL5 website. If you're interested, be sure to ask questions and we would be more than happy to assist.
Code:
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We, from EASY Trading Team, do not sell the Grid Manager bot, but we have developed a trading robot code based on it. You can download it from our website. For all technical questions related to this code, feel free to post on the easytradingforum.com.Remember, trading involves risk. Always do a thorough check to make sure the bot aligns with your trading strategy. All in all, if the Grid Manager fits your trading style, give it a shot and let us know how it goes. We welcome all constructive discussions on our forum. Happy trading, folks!