How well does Martingale perform in Forex? Today, we perform an EA review on Happy MartiGrid. We check out the stats that Happy MartiGrid has provided for us, the bot’s features, trading techniques, and user reviews.
What is Happy MartiGrid?
MartiGrid is an automatic, fully automated trading bot that combines the Martingale and the Grid techniques. The EA is part of the Happy Forex franchise, which consists of seasoned software developers and fund managers. We have no idea who the specific creators of the bot are or their headquarters.
You have to purchase MartiGrid as a whole, along with the 10 EAs of Happy Forex. There are two packages; the first one costs €299. This package involves a .exe bot file, a user guide and installation manual, two licenses and unlimited demo access. You will also get free updates and upgrades and a 30-day money-back guarantee. There’s a more expensive package that costs €499. This package includes basic version features and an increase of accounts from two to five.
The license you receive after purchasing the bot covers the first month, and you get consecutive licenses free of charge for a lifetime. MartiGrid prides itself on being easy to install and use, and it supports ECN brokers. It’s compatible with Windows 7,8,10, Mac OS, and Linux. You also get a free Happy INDIcators PRO with your purchase. The minimal deposit is $3000/ Cent.
EA Review: Happy MartiGrid
MartiGrid’s strategy can be highly disastrous when someone is inexperienced because you are essentially gambling with your losses. As its name suggests, the robot combines both the Martingale and the Grid Strategy. The robot works by increasing your position size when you lose a trade by making up for the loss the next time you profit. In addition to the strategy combo, the forex bot uses technical indicators to know when to place the trade.
MartiGrid also incorporates the take-profit stop-loss technique to increase the chance of securing your deposit and profit. The news filter quickly alerts you when there’s a shift in the news that may affect the sale of forex currencies, which allows you to make trading decisions effectively. The bot is compatible with MT4 and MT5, where there is a 99.90% optimization, and you can trade using micro, mini or standard accounts. Using MartiGrid, you can trade using several currency pairs, including GBPUSD, AUDUSD, and EURUSD.
About Martingale and Grid Strategies
The martingale strategy is mostly a negative progression mechanism that works by doubling the lot size when a trader’s account faces a loss. Doubling the trade’s size is a way of ensuring that when the account wins, it recovers the losses incurred. In Forex trading, a robot that uses the Martingale strategy will maintain a losing position and double it once you start making a profit, reducing the losses and increasing profit.
For Grid trading, a robot places different limits above and below a set price. The two limits take advantage of market volatility, such that a trader can make a profit regardless of the market’s direction. Both these strategies are considered dangerous. Grid trading can make you spend while chasing for profit until you have no money to fund new limits.
EA Review: Happy Martigrid Stats and Trader Reactions
According to the website, the EA requires maximum attention, which means that the robot isn’t fully automated, contrary to what the sales page says. Looking at the robot’s sales page, we notice that the developers have given special attention to Martigrid’s optimization settings instead of the wordy get-rich-quick spiels that other robot pages post. They also display a myriad of backtesting results and Myfxbook stats which gives this robot a serious feel.
Happy Martigrid Backtests
We will focus on the GBPUSD currency pair backtest, which covers the period between 2008 and 2012 and set using a 99.90% modeling quality with the H1 timeframe. According to the backtest, the account started with an initial deposit of 3000, which grew a gross profit of 18460.22. From the gross profit, the account’s net profit was slashed to 8839.55. The profit factor is 1.92. We usually prefer a profit factor of around two and above.
Out of the 6101 total trades, the robot was able to win 3056 short positions and 3045 long positions, which gives it a win rate of about 74%. The robot averages a relative drawdown of approximately 26.75%.
Happy Martigrid on Myfxbook
We will analyze one of the actual accounts that Martigrid has provided on their sales page. The account worked with the 1:500 leverage and started with a $158,323.35 deposit in June 2013. It has been growing, and the trader usually withdraws the profits. We can deduce that the profit realized on this account is $190006.53, and the last posting was in February this year. The overall growth for this account stands at +237.18%. Out of 9489.5 trades, Happy Martigrid was able to win 76%. The robot averages two days for each trade.
The monthly analytics show that the robot was an average performer, with gains ranging from 0.31% to 3.23% monthly, with depreciated in December and didn’t pick back up.
There aren’t many user reviews on the bot, and the thoughts we found are from 2011, where the creator seemed to engage with traders.
We like that the developers pay attention to the robot’s performance by providing regular updates to its clients. The most recent update is v1.9.1 that fixes a minor bug in Call ContentSIze. This fix, they say, doesn’t affect the robot’s trading capabilities. V1.9 ensured that the robot is FIFO compliant and fixes the trade time. Constant upgrading assures traders that the developers are around and taking care of their concerns and that the robot is constantly optimized for maximum performance.
Martingale/Grid strategy can be a pain, so we would like traders to take caution while trading or choose a beginner-friendly bot. The site’s interface looks very rushed.MartiGrid shows promising results with a low drawdown that makes it look profitable. But check on the lot sizes, and you get the real problem. We still don’t know the creators of the bot, and we have no reviews.