Forex Service Review

RIS GridEA Martingale Trending Market Review

RIS GridEA is currently located within the Experts section of the MQL5 marketplace, it was uploaded to the marketplace on the 4th of April 2020 by its creator Praveen Elango, it was uploaded as version 1.703 and has not had any updates since it was added.


RIS GridEA is an expert advisor that was designed for the MetaTrader 4 trading platform, its main purpose is to act as a martingale system that looks to capitalize on both sideways and trending markets. 

The developer of the EA recommends that you try out the EA on a smaller account before using it on your main account, they also suggest using the strategy tester, expected daily profits can be around 520% which seem a little high to us, expected drawdowns can be around 10%, 20% or even 40% depending on volatility, you should also withdraw daily according to the developer which makes it sound like this could be a risky EA.

The preferred currency pairs of the EA are EURUSD and USDJPY. It is also recommended that you have a balance of $3000 for each 0.01 lots size.

The creator of this expert advisor has provided the following information about his tool:

Use a micro account and micro lot size initially to train with our EA.

Use strategy tester to see the performance and how it works

Expected daily profit – 5-20% (exceeding this is a bonus)

Expected drawdown – 10% (20% or even to 40% assuming too sharp movements depending on the impact of news)

Do Payout on daily basis for ROI

Service Cost

The EA will currently cost you $1999 to purchase outright so it is an expensive EA to use, there is also the option to rent it, this can be monthly which will cost you $99 per month, for three months it will cost $249, for six months it will cost $499 and for a one-year rental it will cost you $999. Whichever option you take you will be able to activate the EA up to 5 times.

A free demo version of the Ea is available, this can only be sued within the strategy tester of the MT4 platform so it cant be tested on its actual live trading.


There are currently no user reviews or ratings so we do not know whether people are finding the EA profitable or whether it is doing what it is intended to do, there are also no comments from users so we do not know if the developer is offering support, due to this we would suggest contacting them, just to make sure they will be there should you decide to get the EA and then need some support.

Beginners Forex Education Forex Basic Strategies

Forex Trading Strategies To Avoid: Martingale

There are a lot of strategies out there, some are fantastic and some not so much, there are also some that you should be avoiding like it was the plague, these are strategies that are either extremely unrealistic or will increase the risk within your account to an unacceptable level. Some also have literally no risk management and just rely on luck or hope that the markets will change.

One of those such strategies is the Martingale strategy, this strategy was first seen in the 18th century and was most popular in France. This strategy was used a lot in the casinos, there were those that made a lot of money from it, but far more lost everything. The casinos also came up with their own defenses and changed the way some tables world primarily to simply prevent people from using this strategy.

So if the casinos are changing things to prevent it, it must be quite effective right? Well, it can be, it can actually guarantee you wins, the problem is that you will need an unlimited amount of money in order to guarantee a win.

What is the Martingale strategy?

The idea behind the Martingale strategy is very easy to understand, you place a bet at $1 on a 50/50 outcome, if it wins, then you get back $2, If the first bet losses then you will double up your bet, so the next bet would be $2, if that wins, you get $4 back which is $1 profit ($1+$2 bet $4 win). If it loses again, then you double it again and place a $4 bet, you are starting to see the pattern now.

Those that advocate the strategy will tell you that if you have enough money, you will always have a winning bet, this is technically true, the laws of probabilities indicates that you will eventually have a win, the problem is, that you would potentially need millions in order to win that $1 if too many trades go the wrong way. The amount that you need to pay can very quickly get out of control.

So looking at that table, you can see that the amount that you are betting and the potential losses can very quickly go through the roof and they will continue to escalate at a much faster pace the more you go. Many people will be expecting to make a win before getting to that stage, but are you really willing to potentially risk $1000 just to get a $1 profit, it really isn’t worth it, this strategy is only achievable if you have an unlimited amount of money.

Many people have tried to use this strategy, unfortunately, the majority of them have lost all of their money. When you look at it from the outside, you would assume that you would win at least one of your trades out of 10, but the markets do not work through those sorts of probabilities, the majority of people using this style do not necessarily use a well thought out strategy, instead, they trade and hope, hope that one of their 10 trades wins, but unfortunately, a lot of people often realise that it is not quite as easy as that, and so ultimately lose.

There is also an anti martingale strategy, this works in much the same way, except that you would not be increasing the bet size after each win instead of a loss. People believe that they should take advantage of their winning streaks, each win will multiply the current profits, you then reset down to the minimum trade until the next win when you then double up again. This method will help to reduce the potential losses, however a run of losses will still then require you to win a number of different bets or trades in order to make up the differences, so it is still considered as quite a risky strategy, but nowhere near as risky as the original Martingale strategy.

So that is the MArtingale strategy, something that has probably been taught to you, and something that you will find a lot of expert advisors using, it is certainly something that you should avoid due to its nature and the risks involved.