1. Forex Girbot has been designed to trade the GBP JPY and the USD JPY currency pair. The GBP/JPY on a normal market day moves in a trading band that is consistent with the Gridbot strategy.

2. The system uses a Virtual Grid which means you wont see any limit orders on your screen. As all orders are kept in memory.

3. Gridbot uses ADX/ATR formulas to determine when to close a trade.

3. If you are running Gridbot on an account with Alpari, you need to adjust the trading start and end time to – StartTime: 18. EndTime: 3.

And for FXDD – StartTime 19 EndTime 4.

4. They have two versions of the EA, one for an account size of $500 and another for an account size of $1000.You need to adjust the lot size according to the account size.

Of course I’m running my demo account at FXDD with an account size of $5000, so it was necessary to also change lot size to 30K max. 30K per trade or $3 per pip.

So how has Gridbot performed over the past 7 trading days? Well it has placed a lot of buy and sell limits but has not yet opened any positions. So at this time there is little more to report. Perhaps there is something wrong with the way I’ve set Gribot up, so I’ll investigate this further over the weekend. I may even remove and reinstall Gridbot, just in case this is some glitch in my installation that is preventing it for opening a trade.

Technorati Tags: forex ea, forex grid bot review, forex gridbot forward test, setting up gridbot at alpari fxdd