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Forexgrinder Review

Forexgrinder rating: 2 votes, average: 4.00 out of 52 votes, average: 4.00 out of 52 votes, average: 4.00 out of 52 votes, average: 4.00 out of 52 votes, average: 4.00 out of 5 (2 votes, average: 4.00 out of 5, rated)
Write your own review of Forexgrinder software

forexgrinderForexgrinder is a piece of software that contains an algorithm exclusively designed to trade EURUSD currency pairs. You can buy the Forexgrinder at a limited edition price of $139.99 with unlimited support and guarantee of getting updated versions whenever they are released. This is a one-time payment for the software and does not involve any recurrent fees whatsoever. You will be told to download the product as soon as you make the payment. What you get when you make the payment is, The Forexgrinder Metatrader4Expert Advisor, Installation Manual, and Recommended Settings.

Support

For any question and concerns about the product they provide a dedicated 24/7 email support which is adequate. All product updates are automatically sent to you at the email address you provide. In case you are not satisfied with the results produced by the software you can return it within the 30 day grace period and get your entire money back.

Features

In Forexgrinder several features combine into one algorithm, which in turn exclusively focuses on EURUSD. What are these features that combine into a single algorithm?

They are:

  1. Advanced market timing strategy
  2. Trend indicating feature or ADX feature
  3. MFI Trend indicating technology.

Here is a brief explanation on ADX feature and MFI Trend feature.

ADX feature: It measures the strength of the trend to see if it is a potential market trend or not. Or it checks up if it is a sideways movement.

MFI Trend indicator feature: MFI stands for Money Flow Index. The idea behind this feature is to provide long-term consistent profitability even during periods of worst trends. How does it do that? The software compares the currency value traded on up-days to the currency value traded on down-days. Then it tries to figure out any trend weakness on points of reverse shift.

Although Forexgrinder works with any broker it works best with those brokers who don’t have a spread of more than 3 pips on EURUSD. In other words, if the spread exceeds 3 pips Forexgrinder may not work effectively.
However Forexgrinder could work on an unlimited number of accounts. The only catch is that it works best on EURUSD and product support is only provided in relation to this currency pair. Forexgrinder has been found to work fairly well with some other currency pairs like EURCHF and EURGBP, but then you have to change the magic numbers on the respective charts should you be running multiple currencies on the same account.
Of course Forexgrinder comes along preloaded with the recommended settings.

Avoid running Forexgrinder on Sundays and Fridays which means you should be running it on a 24/4 basis from Monday to Thursday. As Forexgrinder could trade at any time of the day, leave it running as much as possible on 24/4 basis. This would give you fairly optimal performance.

The problem is, other expert advisor softwares do not use a close Take Profit to Stop Loss ratio. That could at times lead to big drawdown and losses. This is not so with Forexgrinder. It uses a close Take Profit to Stop Loss ratio. Therefore the possibility of huge drawdown occurring is minimal. This feature is done so well that it is probably the key to making consistent profits with Forexgrinder.

Interestingly the makers of this software have published at their website the forward testing results of Forexgrinder since the beginning of 2009. These results are impressive. The fact that they have a smart money manager built-in with the software is a useful feature. This money manager aims to increase your trade sizes as your equity grows. On the whole Forexgrinder looks a real deal for both the novice and expert trader alike.

Write your own review of Forexgrinder software

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3 Comments»

Comment by asher
2009-06-17 08:31:28

I don’t know about this software but I tried to contact them few times to no avail. It says here they have a customer support 24/7, they don’t have any support, try to contact them yourself and may be you’ll be lucky to talk to some one there.

asher did not rate this post.
 
Comment by samuel
2009-08-15 09:43:11

I use Forex Grinder exclusively for trading EUR/USD currency pair because that’s what the software is best for!! I haven’t used it for any other currency pair, and so I wouldn’t know if it works elsewhere just as well.

Well, how do you use Forex Grinder? Just download the software, and install it in your computer. Of course it works only with Meta Trader. Technically it’s got the ADX feature which figures out if a potential trend is really a red hot trend or not. Then it’s got the MFI technology, which makes sure your profits are consistent even during volatile conditions. Either way it got a way of figuring this trend weakness, just by comparing EUR/USD values on hep days to prices on low-down days.

But I guess the broker you deal with, has got a lot to do with how best Forex Grinder works for you. Ideally the broker spreads for EUR/USD shouldn’t exceed 3 pips, or else grinder might not give the best results. Although Grinder comes pre-loaded with recommended settings for Euro, avoid using it on Friday, but leave your computer open for trading on all days Monday to Thursday on 24/7 timeline. Why am I happy using Forex Grinder? Well for one thing it’s not going to make big losses for me as it usually has a very tight “take profit to stop-loss” ratio. So that’s less of a worry. That apart, despite the fact that I am not an experienced forex trader, it works well for me.

samuel ratings for this post: samuel gives a rating of 4samuel gives a rating of 4samuel gives a rating of 4samuel gives a rating of 4samuel gives a rating of 4
 
Comment by stanford
2009-08-24 12:58:22

Replying to post of asher, most of these softwares don’t allow contact with customer support, unless you actually buy the software. That’s when they reckon you to be a customer and allow you to contact support!

stanford ratings for this post: stanford gives a rating of 4stanford gives a rating of 4stanford gives a rating of 4stanford gives a rating of 4stanford gives a rating of 4
 
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