Forex grid trading ea review

Today I will review the forex grid trading ea strategies. 

First, I've often seen some FX traders test the forex grid trading ea on the one minute chart. Frankly, I think it's terrible. It ignores the major trend on the daily chart.

Second, some novice traders simply focus on the grid trading forex ea. It also ignores the major trend. I think they will get nothing. 

Third, though most of the forex trading sites shows the free forex grid trading ea, it can't trade in a range-bound market. For instance:

• buy stop order
• buy stop order
• buy stop order
• median price
• sell stop order
• sell stop order 
• sell stop order

At last, don't think you can succeed with the forex grid trading ea. Remember that success comes from hard work and execution. So you have to build a forex trading plan and develop a forex trading journal. 

For me, I always use the one direction grid trading system. For example:

• I only focus on one currency pair. Therefore I will decide to trade the major pairs like GBPUSD
• I have to update the forex trading checklist every day.
• on the daily chart of the GBPUSD, it stays above a bullish support trend line.
• My grid spacing is 47 pips on the 4 hour chart
• My grid lot size is 0.01 lots
• My take profit is 47 pips and can't set stop loss order.
• Maximum number of trades are 8
• I place buy limit orders near support lines
• I place sell limit orders near resistance
• Every day I will set new forex limit orders
• When the forex market is trending, I will use a buy-and-hold strategy.
• Sometimes I am going to try and keep it simple. Therefore, I stopped checking the RSI and ADX indicators

This is my first grid trading forex ea. I will test it with a demo account.

Best 4 hour forex trading system

Today I will create the four hour forex trading system. My goal is to keep it as simple as possible.

I used to trade with the one directional grid trading on the daily chart. Now I will try to use it on the 4 hour chart.

First of all, I will build a forex trading plan and a forex trading checklist.

A lot of beginners think it's a waste of time. But professional traders believe it can allow you to trade with less emotion and stress. It is especially important that you will have a framework to measure the trading performance.

Second, I will decide to trade the major pairs like USDJPY

Third, I have to use only two forex indicators, the Relative Strength Index and the average directional index.

Fourth, don't forget to check out the forex trading daily chart.

USDJPY forex trading daily chart

From the USDJPY daily chart, we can see the Average Directional Index is below 25. So USDJPY is in a sideways market on the daily chart. 

Now, I will find the support and resistance levels on the USDJPY 4-hour chart. And then I will use the bidirectional grid trading system.

the bidirectional grid trading system

• My grid spacing is 47 pips
• My grid lot size is 0.02 lots
• My take profit is 47 pips and can't set stop loss order.
• I place buy limit orders near support lines 
• I place sell limit orders near resistance
• Every day I will set new forex limit orders
• When the forex market is trending, I will use a buy-and-hold strategy.

Fifth, I won't start my own forex trading business directly. I will demo trade until I develop a solid, profitable system. 

1. I am going to open a demo account and practice the best 4 hour forex trading strategy.
2. I will keep a forex trading journal. I think it can measure and track my trading performance.

At last, this is my best 4 hour forex trading system. Can you give me some suggestions?

Next I will develop more forex day trading strategies.

Forex trading basics

Now I am looking to discuss and share any forex trading basics. 

When trading, attitude is king.


This might sound unimportant to beginners, but I believe it is the important basics of forex trading.

Forex beginners were wrong from the very beginning. They only want to earn cash in the nest hour! But, professional traders treat the forex trading as a business.

Before you start to trade forex, you should read the best forex trading tips online. For example, these top 4 basic tips everyone should know. They can help you make smarter and trade better!

First, you must write a forex trading business plan.

Second, you must keep a forex trading diary. It can help you measure, track and improve your trading performance.

The first two tips are the basic ingredients of trading discipline.
Third, you must demo trade until you develop a solid, profitable forex trading system. 

Next, open your eyes wide and I will expose my forex trading secrets - one direction grid trading 

I will draw a trend line to identify the main trend on the daily chart. For example, on the daily chart of the GBPUSD, it would look like an uptrend.

grid trading on GBPUSD 4 hour chart

1. I trade GBPUSD on the 4 hour chart
2. My grid spacing is 47 pips
3. My grid lot size is 0.01 lots
4. My take profit is 47 pips and can't set stop loss order.
5. I place buy limit orders near support lines 
6. I place sell limit orders near resistance
7. Every day I will set new forex limit orders
8. When the forex market is trending, I will use a buy-and-hold strategy.

Will it be good enough? No, you have to develop more basic forex trading systems on the MetaTrader 4 platform. For instance, the forex day trading strategy, forex RSI trading systems or the 4 hour forex trading strategy.

Once again, you should develop as many currency trading strategies as possible.

Fourth, there are two main ways to learn basic currency trading.

• learn how to trade forex with Babypips. It offers free online forex trading courses.
• read the best forex trading books to make big profits. For example, Bird Watching In Lion Country 

At last, let's review the basics of forex trading.

• Make a forex trading plan
• Keep a forex trading journal
• Develop a forex trading system.

Now You have the forex trading basics, the rest is up to your hard work and execution.

Forex grid trading strategies

This article will show you the forex grid trading strategies.

Grid trading system explained

First, some traders don't think forex grid trading requires forecasting of the market direction.

No,I don't think so.You have to firstly determine the general trend and movement on daily/weekly chart.

Second, some traders think forex grid trading requires to have several positions opened at the same time.

No. Beginners have to begin grid trading on the daily chart.On the other hand,you should fund the forex trading account with $30000

For example I will use 0.1 or 0.2 lots for a $30000 account.What's more I will focus on one currency pair.

Third, some traders suppose forex grid trading requires stop-loss orders.

Yes, you have to set stop-loss orders. Furthermore you will decrease the number of trades.

Here is an example of the Forex grid trading strategies

First I will only focus on USDJPY and use 0.01 or 0.02 lots for a $3000 account.

Second determine the major trend on daily chart.The USDJPY support levels are at 113,112.52,111.37.

USDJPY grid trading on daily chart from mt4 

The order book would look like this:

• 2 February buy limit 0.01 @ 113.03
• 3 February buy limit 0.02 @ 112.59
• 3 February close 0.02 @ 113.07
• 6 February buy limit 0.05 @ 112.26
• 6 February close 0.05 @ 112.35 
• 6 February buy limit 0.04 @ 112.5 
• 7 February buy limit 0.02 @ 111.74 
• 7 February close 0.02 @ 112.5
• 9 February close 0.04 @ 113.04
• 10 February close 0.01 @ 113.45 

Finally you had better open a forex demo account and test the forex grid trading strategies.It can help you build confidence and find the weakness.

Sure enough forex grid trading strategies are very simple. First your primary focus is on the daily charts.Second you are required a sufficient amount of money on forex trading account.

Futher reading Why Trading The Daily Charts Will Improve Your Trading Results