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Updated by Albert Fang
Forex robots or expert advisors have emerged as one of the biggest tools at a trader’s disposal at this moment. These software programs take the help of reliable trading signals to execute trades on the user’s behalf. While some are automatic, others are partially manual, depending on the trader’s preference. While the majority of EAs and forex robots employ a single trading strategy to execute trades, there are a handful of options that employ a combination of two or more trading strategies to get the desired result. Here are 5 of the best forex trading robots that use multiple strategies.
Grid Master Pro (trend, grid, hedge)
Grid Master Pro is a multi-strategy EA that works on the GBP/USD currency pair. It is actually the paid version of the free BF Grid Master. While the minimum deposit is $1000, a deposit of $3000 is recommended for best results. This time it is equipped with three additional trading strategies. A host of other features such as Advanced Time Management system, Notification System, Friday Exit System and Advanced News Filter make this a well rounded EA to use.
FXSecret Immortal (trend,hedge)
FXSecret Immortal employs a set of three different trading strategies. It is compatible with MetaTrader 4 and Meta Trader 5. The minimum deposit for this EA is $1400 for conservative trading and $700 for aggressive trading. For $549 you get free lifetime support 24/7 and the ability to change your account online an unlimited number of times. The EA has also been operational for quite some time, first being introduced in 2012.
GPS Forex Robot (trend, grid, hedge)
GPS Forex Robot uses a combination of trend, grid, hedge strategies that work with EUR/USD, EUR/GBP, GBP/USD, and USD/CHF. At $149, it is one of the most reasonably priced EAs on the market. Currently, the third version of the EA is available for sale, which features some new functions such as trailing Take Profit and the ability to change all primary parameters to suit a particular trading style. It is capable of delivering a 345% yield per annum and a maximum drawdown per annum of 9%.
Forex Diamond EA(trend, countertrend)
Forex Diamond EA is an MT4 forex robot that uses a combination of trend and retraces strategies. The EA works best with EUR/USD, GBP/USD pairs on M15 timeframe. Forex Diamond EA is in a rare group of EAs that apply a combination of dynamic trading parameter configurations, a rare combination of trend and countertrend strategies and rapid trade execution. The EA also additionally uses scalping which allows it to leverage small spread trading orders.
Happy Market Hours( trend, grid, hedge, semi-martingale)
Happy Market Hours uses a combination of trend trading, grid trading, hedging and semi- martingale to produce results. The EA works best with 10 currency pairs including GBP/USD, GBP/CAD, GBP/CHF and EUR/USD, on the M15 timeframe. It works by measuring deflections of the correlative and conducting statistic analysis in order to get optimal hide SL and TP. At $499, you get an EA which has a maximum drawdown of 12.71% and a yield per annum of 87.62%.
Final Thoughts
As more and more EAs flood the market, it is up to the users to make tough decisions when it comes to selection. More often than not, unsuspecting users invest in the wrong place and end up with software and bleed their trading account. Thus, taking a look at reviews and testimonials from fellow traders can go a long way when making a well-informed decision. There are various authoritative sites that can help you in this regard.
Reviewed and edited by Albert Fang.
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Article Title: Top 5 Multi-Strategy Forex Robots in 2021
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