With the advent of technology, automated trading has become increasingly popular, and forex robots have become a crucial tool in the trading arsenal of many. One such forex robot is the Greezly Bot Pro, an automated trading advisor that uses grid and martingale strategies to analyze asset quotes on several timeframes and determine the main direction of the trend.
In this review, we will take a comprehensive look at the Greezly Bot Pro, examining its features, strengths, and weaknesses. We will also discuss how to demo-test the robot and apply good risk management settings. Additionally, we will discuss who it’s suitable for. By the end of this review, you should have a clear understanding of the Greezly Bot Pro and be able to decide whether it’s the right forex robot for your trading needs.
Greezly Bot Pro Strategy
Grizzly Bot Pro is an automated trading advisor that analyzes markets using several technical indicators on multiple timeframes to determine the direction of the trend. It uses grid and Martingale strategies to trade in the direction of the main market movement, waiting for the price to deviate from its average by a peak distance before placing a trade. The Grizzly Bot Pro’s recommended trading asset is EURUSD, but the settings can be adjusted to any other instrument. It trades on timeframes from M1 to M15, and uses the averaging method to smoothly increase volume. To direct trades, the EA uses candlestick analysis.
The Grizzly Bot Pro utilizes a trading strategy that involves trading in the direction of the trend with averaging and martingale. While the developer states that there may be drawdowns during trading, they reassure users that the robot will skillfully exit them over time. It is important to note that while the Grizzly Bot Pro may be a useful tool for some traders, it is not without its risks. The use of grid trading and Martingale strategies can be risky, and it is important to use caution and apply proper risk management techniques when using this EA.
Greezly Bot Pro Features
- Automated trading advisor that uses a grid and martingale strategy to enter trades.
- Designed to perform best on the EURUSD pair, but can be adjusted for other instruments.
- Uses timeframes from m1 to m15 for trading.
- Uses candlestick analysis to direct trades.
- The trading strategy involves trading in the direction of the trend with averaging and martingale techniques.
- Designed for use with a narrow spread account, preferably a RAW Spread account from IC Markets broker.
- These features provide a comprehensive overview of the Greezly Bot Pro’s trading capabilities.
Greezly Bot Pro Settings
- Lot multiplier – Adjust the lot size based on a multiplier
- Lot const or not – Determine whether the lot size is fixed or not
- Lot size – Set the fixed lot size for each trade
- Risk percent – Set the percentage of risk per trade
- Takeprofit percent – Set the percentage of take profit per trade
- Stop – Set the stop loss for each trade
- Max trades – Limit the maximum number of trades that can be open at any given time
- Using equity max risk – Enable/disable the use of equity as the basis for risk management
- Total equity risk – Set the total amount of equity that can be at risk at any given time
- Magic – Assign a unique identifier to each trade
- Show table on testing – Enable/disable the display of a table for testing purposes
- Equity max risk – Set the maximum percentage of equity that can be used for each trade.
The developer recommends using 0.01 lots for every $1500-2000 to reduce risk. Additionally, they advise changing the step after 4 trades by 300 pips and after 6 trades by 500 pips to further minimize risk. It is important to consider the recommended deposit based on the desired yield, and the developer suggests a minimum deposit of $300 to start trading.
Greezly Bot Pro Summary
The Greezly Bot Pro is an automated trading advisor that uses grid and Martingale strategies to trade in the direction of the trend with averaging and martingale. Its primary trading asset is the EURUSD, but the settings can be adjusted for other instruments as well. The EA uses candlestick analysis to direct trades and trades on timeframes ranging from M1 to M15.
One of the strengths of the Greezly Bot Pro is its ability to skillfully exit trading drawdowns with its averaging and martingale algorithms. However, these strategies also pose a risk and require careful risk management settings to minimize potential losses.
Before using the Greezly Bot Pro, it is recommended to demo test the EA and adjust risk management settings, such as changing the step after a certain number of trades by a certain number of pips, to reduce risks.
Overall, the Greezly Bot Pro is suitable for traders who have experience with grid and Martingale strategies and are comfortable with the risks involved.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.