Forex Robot Reviews

Pip Brains EA Review & Discount (PipBrains Test Results)

Review of the Pip Brains forex robot.

Update (June 18th 2010) Version 1.1 release! – This is supposed to fix some of the major issues including the discrepancy of results people have been seeing. I will have this up for the start of this week.


10% Off Coupon Code: FBI-RLHI-FBI


Update(April 28th, 2010) – I received word from PipBrains creator that he is completely revamping the system for these new market conditions we are seeing. He says the current conditions will result in in-frequent trading, and up and down results which is exactly what I have seen so far. Well I guess cheers to him for all the effort, will just have to remain patient on this one for now it seems.

EA Name Currency Pairs Timeframe Strategy ECN 4&5 Digits Take Profit Stop Loss Home Page
Pip Brains EURUSD/ USDJPY / EURJPY / AUDUSD M15 The brain does what the market will let it do. Yes Yes 40-70 80-150 Pip Brains

Performance

License

There are two packages available:

Pip Brains Advance Package – Has all settings available to modify including all indicator settings, take profits, stop losses etc… Over 63 variables to play with. Includes an advance settings guide to understand this monster of a system.

Pip Brains Lite Package – Has only the basic settings available to modify like risk, lot size, magic numbers, trading days and a few other basic variables.

Pip Brains is a membership based platform where you are limited to 1 live account, and unlimited demo accounts. but you have the option to purchase additional account use.

  • 1 extra account for $159.9
  • 2 extra for $298.99
  • 3 extra for $399.99

Many people we’ve talked to running pre-release copies of Pip Brains are doing so on more than account because of the success they’ve been having of recent. You can use unlimited demo accounts, and changing your live account number can be done on your profile page in seconds.

Strategy

Pip Brains uses advanced and highly optimized indicators to intelligently pin-point precise market conditions to open certain trades under. It’s hard to label Pip Brains with a specific strategy, the brain does what the market will let it do.

Pipbrains has now been updated to have 3 different strategies mixed together, controlled by a series of indicators and market monitoring algorithms to determine when to run each strategy. You can expect anywhere from 2 to 10+ trades a day with this very powerful, robust EA.

You have the option to turn on or off each of the 3 strategies, as well as turning off certain days of the week like sundays and fridays.

Recommended Brokers

Pip Brains works on just about any broker out there but be warned that if your broker does not allow hedging, it will prevent some of the strategies to co-exist. Our recommended FXOpen or IamFX are no exception and provide great execution time and spreads for this powerful EA.

Conclusion

I would have to say Pipbrains would be the one forex robot off our site to try first. It’s reliability from it’s A.I. intelligence makes it one of the least stressful robots to control your money.

Overall Rating

VN:F [1.9.22_1171]
Rating: 5.6/10 (57 votes cast)
VN:F [1.9.22_1171]
Rating: +4 (from 38 votes)
Pip Brains EA Review & Discount (PipBrains Test Results), 5.6 out of 10 based on 57 ratings
383 Comments
  • Moon Shaikh - Posts: 1
    April 10, 2014
    Reply #1

    I have sent about 10 emails in last 4 months. But there is no response. Pip Brains website is still working. It seems they have closed business. Has any one heard from them lately. They should bring down their pip brains website.

  • JakeBeay - Posts: 1
    September 7, 2012
    Reply #2

    Hey, has someone really used the forex megadroid forex trading software? I would like to try it out but nearly all of the review webpages on the Net are instead affiliate websites, appreciate it in advance

  • ani - Posts: 1
    January 21, 2012
    Reply #3

    Hi Admin,
    your 10% discount coupan code does not work can you update the value
    thanks
    ani

  • Thierrybl - Posts: 1
    January 5, 2011
    Reply #4

    Hi admin,

    The link to the VIP membership subscription page seems to be broken. Is it just from my computer or from your site ?

    Thanks

    Thierry

  • Crunchy - Posts: 1
    January 5, 2011
    Reply #5

    Dear Admin,
    I am counfused regarding the performance of this EA, the EA have rank 1. looking at the top of this page, the balance should be 3865,21, but looking in the (statment link) then it’s showing loss off Closed P/L: -3,189.13. could you kindly explain this, thanks

    • admin - Posts: 70+
      January 5, 2011
      Reply #6

      It runs on Alpari UK demo account which has a limitation of only displaying roughly the last 500 previous trades. So all the oldest trades get deleted and therefore don’t show up in the mt4stats statement and mess up my stats a bit. The total balance you see on the little mt4stats image is the correct balance. The -3,189 you see is what the EA has done over the course of it’s last 500 or so trades.

  • Weston - Posts: 15+
    December 7, 2010
    Reply #7

    Hello Admin,
    I see in the results on their own site that Pip Brains is on quite a long and expensive downturn. Do you think this EA has run the course of effectiveness? I’m interested in another EA to add to my mix.

  • KunningSTUNT - Posts: 1
    September 28, 2010
    Reply #8

    Hi again Admin,
    I have noticed the following error message occuring alot lately whilst using pip brains particularly with STRATEGY 2 – ” error opening sell/buy order : invalid stops” is this due to pip brains or my trader, any info would be great.
    Thanks

  • carlos martinez - Posts: 1
    September 21, 2010
    Reply #9

    @ ADMIN: Is you pip brains Demo or Live account? what version you got?

    Thanks

  • KunningSTUNT - Posts: 1
    September 18, 2010
    Reply #10

    Hi Admin,

    Are you using the “out of box settings” ? if not did you contact pip brais for optimised settings? And are these results based on the “lite” or “advanced” version of pip brains, I am a beginner trader and would like a suggestion as to which pack would be better suited to me.

    Thanks… and congratulations on the great informative website you’re running!!

    • admin - Posts: 70+
      September 20, 2010
      Reply #11

      Yes I am running default settings currently on this pip brains account.

  • Rinus - Posts: 1
    September 11, 2010
    Reply #12

    I have just bought the Pip Brains (PB) Lite EA and there is something on the risk settings that is not clear to me. With locking in on the mail lock in page PB supply a table with low to high risk settings for Strategy 1 & 2 [which is also in the User manual under Part 4 Risk]. When installing the EA on the charts and comparing the default risk settings according to “Part 4 Risk” it is in both the EURUSD as well as the USDCHF in strategy 1 on high risk and the default setting in strategy 2 is lower than that low risk setting of this table.
    Looking at the User Manual of PB “Part 3 Settings” describe the risk in Strategy 1 & 2 to be: “0.1 being lowest, 10 being highest” This is in no way comparable to the table parameters high setting in Strategy 1 that is given 0.2 as high risk and strategy 2 given 2 as high risk. Therefore please explain these RISK settings to me. Which must I trust the User Manual Part 4 Risk or Part 3 Settings and what must the Risk setting be?
    Thank you
    Rinus

  • julio - Posts: 5+
    September 10, 2010
    Reply #13

    hi, just i need your recommendation.
    i will open a live account in fxopen ecn for 1000$ i have already forex hacked and pip brains , how many chart windows for each ea u recommend to me and if i have to change some settings for better profitable system, and another thing..it is better if i settup to work from 20 to 4 in the morning, this time is better, please let me know if u can help me, thank u very much for your support, your page is great..

    • Reny4jah - Posts: 70+
      September 12, 2010
      Reply #14

      @ Julio:

      First, it is not in the best interest of your account to have both Forex Hacked and Pip Brains running at the same time.

      However, if you must use both to match your risk tolerance, it is not advisable for you to operate more than three charts at a time. In that case, you need to choose your pairs very carefully. Pip Brain’s USDCHF’s Strategy 1 is most of the time profitable. So, you may retain the USDCHF pair for PiP Brains alone. You may then root for AUDUSD and EURUSD with Forex Hacked. Either way, be very careful.

      On your second question: I believe you were referring to the Asian Session cum London Session. The Asian Session is best for Scalpers because most of the time, the market doesn’t trend. Rather, it ranges. Since both robots are not Scalpers, it is not advisable to constrain their activities to those sessions alone lest you’ll have many trades that’ll get stuck and carried over to others sessions.

      Both robots are high frequecy bots that trade around the clock. You may leave them the way they are. But as a check and balance, you may control the number of trades the Forex Hacked opens per chart to bring the DDs under control.

      Those are just my humble opinions.

      Cheers,
      Reny.
      reny4forex@yahoo.com

  • julio - Posts: 5+
    August 25, 2010
    Reply #15

    Just a question? i bought Pip Brains already and it is coming for eurusd and usdchf, but i m looking your page and it says it works for usdjpy and eurjpy and audusd, which pair robot you use for this pairs? because it is coming only in the pack for 2 curriencies pairs..
    let me know please, thank u
    regards..

  • danny - Posts: 5+
    August 2, 2010
    Reply #16

    Hello admin,
    please tell me how to do setting
    for the 1.2 EA ,
    I login to http://pipbrains.com/members/member.php
    my manber area,but cant see the setting area
    please kindly reply

    Thnaks

    • admin - Posts: 70+
      August 6, 2010
      Reply #17

      Which setting are you talking about? If you are referring to adding your live account number to your profile then you can see the change account number link on the right when you login.

      If you are talking about the default pipbrains settings, then just leave them default.

      • edvis - Posts: 1
        August 14, 2010
        Reply #18

        hi admin.how to become a VIP?and what settings you use on pip brains?(gmt,risk…..)thx

  • jeff - Posts: 1
    August 1, 2010
    Reply #19

    which EA do u recommend I try 1st Pip Brains or Forex Hacked

    • admin - Posts: 70+
      August 6, 2010
      Reply #20

      I would say pipbrains unless you are comfortable with controlling a martingale EA in forex hacked.

  • pravin - Posts: 1
    July 26, 2010
    Reply #21

    Hi FBI,

    Daily i am seeing the PIP BRAIN trades in MT4 Stats it is very impressive. But when have read the reviews most of them has given the EA used by u is completely different from our EA how can i believe and purchase EA. please give the correct information so i can proceed to buy PIP BRAIN EA>

  • Jet - Posts: 1
    July 17, 2010
    Reply #22

    hello:
    can u tell me about you test set up detail.
    thanks

  • Billy - Posts: 1
    July 17, 2010
    Reply #23

    Admin, Do you still say this is 1 ea to get off site if i am to buy only 1?
    I have US broker so NFA and fifo must apply.

    • admin - Posts: 70+
      July 20, 2010
      Reply #24

      A couple weeks ago I would have said to hold off, but now things have really settled down and it is well into its 3rd straight week of some very respectable gains.

      +$270.88 1st week with version 1.2
      +$682.23 2nd week with version 1.2
      +$206.83 so far this week with version 1.2

      So you see now would be the obvious time to jump back on board.

      As for trading it on an NFA broker with FIFO, there will be an intereference in trades so you may want to consider moving to an off-shore broker.

  • Mike - Posts: 5+
    July 15, 2010
    Reply #25

    Today I started to live trade (Alpari UK, MIcro account) and although I think/thought I did setup the PipBrain v1.2Lite correctly, it seems not. Today I had 20 trades, well almost. The trades opened, and after all of them closed within seconds. (that’s why all of them were losses, from -0.2 to -1.5 Euros) Sometimes there are trade context busy, sometimes Error opening BUY order: invalid price.

    But most of the time I cannot see any error, just “fine trade”. This is for example the very last “failed” trade.
    2010.07.15 21:59:12 ’854787′: order #16731374 buy 0.09 EURUSD at 1.29343 sl: 1.28734 tp: 0.00000 closed at price 1.29322
    2010.07.15 21:59:12 ’854787′: request in process
    2010.07.15 21:59:12 ’854787′: request was accepted by server
    2010.07.15 21:59:12 ’854787′: close order #16731374 buy 0.09 EURUSD at 1.29343 sl: 1.28734 tp: 0.00000 at price 1.29322
    2010.07.15 21:59:11 ’854787′: order #16731374 buy 0.09 EURUSD at 1.29343 was modified -> sl: 1.28734 tp: 0.00000
    2010.07.15 21:59:11 ’854787′: request in process
    2010.07.15 21:59:11 ’854787′: request was accepted by server
    2010.07.15 21:59:11 ’854787′: modify order #16731374 buy 0.09 EURUSD at 1.29343 sl: 0.00000 tp: 0.00000 -> sl: 1.28734 tp: 0.00000
    2010.07.15 21:59:10 ’854787′: order was opened : #16731374 buy 0.09 EURUSD at 1.29343 sl: 0.00000 tp: 0.00000
    2010.07.15 21:59:10 ’854787′: request in process
    2010.07.15 21:59:10 ’854787′: request was accepted by server
    2010.07.15 21:59:10 ’854787′: instant order buy 0.09 EURUSD at 1.29334 sl: 0.00000 tp: 0.00000

    What could be the problem?
    My metatrader 4? Or it’s settings?
    Or Pipbrain v1.2 Lite? Or it’s settings?

    Happy trading,
    Mike

    • Reny4jah - Posts: 70+
      July 16, 2010
      Reply #26

      @Mike:

      I will advise you to reinstall Pip Brains on your MT4 again. Since you are operating on the default settings, I am not sure it has anything to do with the settings of the bot.

      The problems lie between the version of the bot you are running and the MT4 platform you are running it on.

      If reinstalling the bot doesn’t help, reinstall the MT4 platform. If this doesn’t help either, contact Andy and let him come to your aid.

      Hope this helps.

  • Jona - Posts: 1
    July 11, 2010
    Reply #27

    This week was a lot better and brought the results that I had expected from the beginning. 15% gain this week on my live account. I will be staying with Pipbrains for the long haul.

    • Allan - Posts: 20+
      July 12, 2010
      Reply #28

      @Jona
      can you share with us what strategies are you using and what settings?

      • Jona - Posts: 1
        July 16, 2010
        Reply #29

        I am using the default settings on the Lite version with no special strategy. I just attached it to the two charts, and let it do it’s thing. It started off a little rough the first 2 weeks consistently losing money each week. Since version 1.2 it did +15% first week, and about +13% this week.

        My results are right on par with both the admins here and the official stats at pipbrains.com

  • Reny4jah - Posts: 70+
    July 10, 2010
    Reply #30

    Guys:

    Let’s give it to Andy for sticking to his promise of refunding our payments if things didn’t work out within the first 30 days of testing the robot. Even more so, he has shown humility for apologizing that things didn’t go in the direction he preconceived.

    Our advice is that he should take the robot off the market and go back to the scoreboard with a view to mapping out a new pathway for the robot to follow. After fixing all that is wrong with it, he should then open the doors to the public again.

    His marketing idea is VERY sound. But there is something inherently wrong with the building blocks he used in developing customers’ versions of the robot–a series of logical errors of some sort that marred its performance and by consequence, its appeal to all and sundry.

    Even though we all use ForexFBI’s/Andy’s equity curves to judge the performance of the robot, its current performance is not that impressive. Please look at the curves closely and what you will see is not a steadily rising curve, but a roughly horizontal line.

    What this mathematically means is that the robot is no longer making steady profits with the same zeal and passion it started with when it was first installed. Therefore, the robot needs a total overhaul. ForexFBI’s/Andy’s versions are currently losing steam. Andy should take note of that.

    If Andy decides to take the robot off the market with the hope of revamping it, then he should take note of this as well: Come up with just ONLY ONE version of the robot. There should not be Lite and Advanced Versions. Instead, let there exist just a single version that will bring ALL of us on the same page.

    There are two advantages to this:

    1) It helps Andy to spot what is wrong easily and therefore reduces stress on him. I can picture him working tirelessly on each of the versions with the hope of finding out what was wrong. Disabling Strategy 3 of the robot was not an easy decision to reach but a last recourse when the errors could not be spotted on time while his attention was being divided between the two monsters he created.

    He needed more time to fix it. But time he didn’t have as agitated customers have been talking of refunds. That was why disabling Strategy 3 seemed to be safest way to go. Psychologically I can read it that Version 1.2 was released under extreme stress and pressure.

    The stress could have been reduced by half if only one version of the bot existed.

    2) Having just one version allows ALL of us to speak one common Pip Brain language. As dangerous as Forex Hacked is, it has survived in this forum because the common language those who own it speak allows them to build on each other’s ideas to get the best out of it.

    Pip Brains did not have that luxury. I have read the postings of those having Advanced Version asking for help on this forum. But because many of us bought the Lite Version with the belief that there is no difference in performance between the two versions, these individuals could not find the help they needed except when Admin occasionally bailed them out.

    On the other hand, those of us having Lite version had limited settings to play with thus limiting our results and some of those having the Advanced version do not know how to get the best out of it. That will not happen if we all have the same version and speak the same language.

    Yes, the Advanced version is costlier than the Lite version. But many of us wouldn’t have minded spending the extra dollars if we had not been promised that the optimized settings of both versions would deliver the same results.

    On a final note, Andy should increase the refund policy to 60 days. That will give us all enough time to play with it and build on each other’s ideas to make the robot work for us all. It will also allow Andy enough room to breathe and update the bot to match the conditions of the ever-evolving forex market. Those who have asked for refunds did so under 30-day refund policy pressure. They are watching closely any changes in events and versions that would again place this dethroned Queen back on her throne and therefore make them buy it again.

    Let’s hope for the best with Pip Brain as Andy rights what is wrong.

    • admin - Posts: 70+
      July 10, 2010
      Reply #31

      While I agree with some of what you said, this week the default Pip Brains 1.2 did +$270 on my account. Andy’s account had almost identical trades as mine and profited even more this week with his larger equity. So while the two prior weeks you could say Pip Brains was losing steam which is clear by the flat lined equity curves, this week has been a complete rebound. With strategy 3 out of the way, things look a lot less confusing and hectic from a risk perspective.

      Some people have been complaining about how they don’t like the infrequent trading now with Strategy 3 gone. My account had 14 opened trades this week….

      I have also confirmed with Andy that the difference with the Lite and Advance version is nothing more than adding the ‘extern’ to the advance variables, and taking out ‘extern’ from those same variables with the lite version. So the only difference is for the Lite users, they can’t see the advanced variables, but they ARE there and their values are exactly the same. Some EA’s are notorious for having high discrepency in trades from broker to broker so maybe Pip Brains is just one of those EA’s. I don’t see how anyone could have lost money this week with version 1.2 though especially if you got the two big USDCHF trades from strategy 1.

      Maybe this was just a good week, or maybe things have turned around for the long haul. Regardless, my account will remain up and I will continue updating my copy as new versions come out.

      I think Andy is doing a great job by himself, and is one of very very very few vendors I can even get a hold of. So props to him for that!

  • mina - Posts: 5+
    July 10, 2010
    Reply #32

    @ all
    andy snet this to me:
    Since your order was completed manually, I do not have an option to refund it so I added a note on the payment for Regnow to refund the payment for you. This shouldn’t take longer than a few business days, regardless I will make sure you get your money back and I am sorry things did not work out for you as planned with Pip Brains.

    -Andy J

    which means i will get my money

    @ITBloke

    you need to write the number of real account at the ” enter /change account number”

    • ITBloke - Posts: 1
      July 12, 2010
      Reply #33

      Hi Mina,

      Allready had the live trading account number recorded in the members page at pipbrains.com – is this what you mean?

      if so, the fault remains.

      • Reny4jah - Posts: 70+
        July 12, 2010
        Reply #34

        I will write Andy if I were you and tag the message as being very urgent in order for him to give it a high priority.

  • Andre7 - Posts: 10+
    July 10, 2010
    Reply #35

    @Admin, Can you run the version of PIP Brains that we bought? It is seems misleading to promote the one you when that doesn’t seem to be what we end up with when we purchased it? So far I have killed #3k demo account twice. I am about to try the last update. This EA seems to be the greatest disappointment for me. I at no point thought it was one of the typical pump & dumps as it definitely has had some time & thought put into it by Andy.

    • admin - Posts: 70+
      July 10, 2010
      Reply #36

      I am running the default advance version, I don’t know how you are killing accounts so quickly with this. If I had a different version, or different settings I would have made a note about it in my post above. I have an account at pipbrains.com where I download the latest versions of the EA just like the rest of you. Andy does not send me my own copy.

  • ITBloke - Posts: 1
    July 9, 2010
    Reply #37

    I have been using v1.2 since Monday and all good on demo account. However am having problems with running it on a live account. anyone else having their trades close within 1-2 seconds of opening a trade? every one has done this on the live account, seems I am giving away on the spread…

  • Allan - Posts: 20+
    July 7, 2010
    Reply #38

    Hey!
    @Everyone
    How is everyone doing with pipbrains so far?!!!

  • JL - Posts: 1
    July 6, 2010
    Reply #39

    Hi guys,

    Sorry if my info below is disorganized and unclear, but i just wanted to share my findings and analysis with PB, and in the best way i can expressed. =)

    I have been running PB advance version on live account for a week, starting with $2500. Reason is when i backtested at demo, starting a low capital of $1000, was quite screwed up.

    I borrowed the idea from admin’s settings for forex hacked (FH) – TP and PS between 30 to 45. IMO, if trend keeps going in 1 direction, martingale system will crash regardless of the booster/multiplier we use if we r in the wrong direction. Also, I learnt from FH settings used by Admin that the purpose is not to double up too soon, when the pips only moved a little, this gives more room to breathe before double up…

    With this in mind, my test in PB helped to increase acct from 10k demo (cos my demo can’t use microlot) to 33k in 2010, Jan to June.

    My live settings is below, and starts with microlot from 0.02, i.e. the 4 levels will be 0.02, 0.06, 0.12, and 0.24 is (I test it, the multiplier 3 works only from level 1 to 2, while the rest is maxed at 2…)
    TP=22 (I tried between 20 to 30, with 30 giving better results)
    Dd1=20
    Dd2=60
    Dd3=120
    multiplier=3

    My Strategy
    1) To manually close all the 4 opened levels when level 4 (Dd3) loses 100pips… i.e. 220pips away from the smallest lot (disadvantages – need manual intervention)
    2) Booster 3 helped me to make the most when pip retraces in my trend for 22pips. A few trade happen like this at level 3 or 4 can help breakeven very fast, to cover losses from level 1 and 2. (multiplier=2 is certainly MUCH safer)
    3) To manually close all the 4 opened levels when level 4 loses 100pips… i.e. 220pips away from the smallest lot
    4) When level 4 retraces, PB only closed level 4 and not all the 4 levels, I like this strategy as it means that so long as it doesn’t exceed level 4 (even when whip saw happens within the range), i may make profit, but not loss.
    5) If it retraces back to level 1, i make profit from all the temporary retrace + all the 4 levels (in the long run).

    P.S. Maybe it is becauce i am not confident at a fully automated robot, but manual and crucial intervention when necessary, hence i used the settings and my own strategy above.

    I just hope that for those of you who think like me that there is still potential in PB, hope the settings is useful to you. =)

    Honest Findings
    1) So far, MY LIVE RESULTS IS ONLY ABOUT BREAK EVEN (i did not have much profit yet). I even need to manual bail it out, and luckily i did…
    2) To me, if pip can rise/drop to about 250pips a day (just a few days back there is 1) and I open a trade in the wrong direction, my acct will crash. So if PB didn’t land in the correct direction, i will manual have to manually close. To be fair to PB also, martingale system will often have this worry, PB is not the only one…
    3) I’m not sure if the above settings can be set only in advance version… If it cannot be set in lite, then i think it is too risky for me to use it (since i cannot control the difference in pips to open another trade). If default is 20 for Dd1 to Dd3, i seriously believe it is too risky for me…
    4) The offical results from PipBrains seems to be very different with my demo, when i can crash but not theirs.

    I will see if this leads to a good or bad turn…

  • myths - Posts: 5+
    July 5, 2010
    Reply #40

    actually I agree with disabled the strategies 3, because it’s more like gamble.

  • SouthernPitBull - Posts: 10+
    July 5, 2010
    Reply #41

    Looks like the new version 1.2 is giving me roughly the same trades as Admin. Hopefully this one preforms much better then the last few versions.

  • John - Posts: 20+
    July 4, 2010
    Reply #42

    As of today (7/3), there’s now a version 2 that

    - Fixed Strategy 1 not trading under certain circumstances.
    - Disabled Strategy 3
    - Ramped up Strategy 1 & 2 to compensate
    - Few optimized settings

    I’m not sure what to think. Strategy 3 was disastrous at first, but then I tried in a demo account with only EURUSD running Strat 3 and have done very well. Maybe it’s just been lucky catching the EURUSD uptrend (that’s my guess). However, practically all the gains have come from Strat 3…now it’s disabled? This EA seems to be morphing all the time. I guess we’ll see how Version 2 does.

  • Roger - Posts: 25+
    July 4, 2010
    Reply #43

    pipbrains 1.2 has been released. that should be more better then before.

    information on pipbrains 1.2:

    - Fixed Strategy 1 not trading under certain circumstances.
    - Disabled Strategy 3
    - Ramped up Strategy 1 & 2 to compensate
    - Few optimized settings

    Strategy 3 has been a disaster for most users so disabling it and tweaking
    Strategies 1 & 2 will result in a completely different functioning system.

    Both Strategy 1 & 2 use a lot of indicators to determine it’s entry points
    so be patient as it may not trade right away.
    Information is from Andy J.
    Thank you Andy for your information.

  • wind - Posts: 25+
    July 4, 2010
    Reply #44

    new version 1.2 released!

  • Reny4jah - Posts: 70+
    July 4, 2010
    Reply #45

    @Everyone,

    Version 1.2 has been released. Strategy 3 has been completely disabled and according to Andy, only revamped Strategies 1 and 2 will be working; “resulting in a completely different functioning system.”

    As customers, we are justified to ask:

    1) What happens to that promise of a bot with “3 Different Strategies For Different Market Conditions!”?

    2) Why is our version resulting in a COMPLETELY DIFFERENT system while Andy’s/ForexFBI’s strategy 3 is still intact surviving all the conditions that drowned our accounts?

    3) Will Strategy 3 be reinstated or installed again? If so, when? if no, why?

    I think this new Version 1.2 leaves us with many questions than answers. In any case, there is only way to find out: Let’s put it to the test for four days. It the robot points our accounts’ directions towards the south, we will have no alternative but squeeze the trigger by asking for a refund.

    Have a nice trading week.

  • Phillip - Posts: 5+
    June 30, 2010
    Reply #46

    i thought i would buy it but it seems not to live up to its promises. I think trading manually still the best.

  • wind - Posts: 25+
    June 30, 2010
    Reply #47

    Hi all,

    I found that most of the lost trades come from those trade enter in the Asian market. So currently I’m using the hour filter to trade for EU and UC when US and Europe market open. The results seem promising. Will keep updating you guys.

  • Mike - Posts: 5+
    June 29, 2010
    Reply #48

    I have found 2 issues during the last 1-2 weeks. (v1.1a, Alpari.UK demo accounts, different PipBrain settings, low/unchanged/high risk, 1000EUR deposit, margin 1:100, lot: 0.01, etc)

    One big issue is that if the PipBrain got mad, it will produce about 10x trades a minute and also closes them. It caused me a lot of 0.02-0.07EUR losses. Duration was from 25/Jun 20:00 till 28/Jun 5:00. (Although I thought that the market was closed) I did not change/alter PipBrain/Metatrader in any way.

    Second issue for me was/is that when I can see a hammer (or hammer with bullish Engulfing) and e.g. checking the Stochastics, I would go for long position. But I did catch that the PipBrain goes for short. It happened to me at least 2x times and drained a nice amount of cash.

    [Detailed report went to Andy.]
    [Screenshots are available for those who'd like to have more details, but somehow privately.]

    I still will be with PipBrains for a short term I still believe in it and in Andy’s skills…

    Happy trading,
    M.

  • myths - Posts: 5+
    June 29, 2010
    Reply #49

    Hi guys, I think we should turn off strategy 3 on both pair, I lost a lot 2 days ago with strategy 3 and after I turn it off both. it more safe to have to robot run and make a little bit profit from it.

  • Allan - Posts: 20+
    June 29, 2010
    Reply #50

    @admin
    Hello admin, I was wondering if you can make any comments or something to have Andy give us more guarantee time, as the bot obviously did not perform as promised, right now with all the updates that he is performing it is just taking our time while the robot is not working, but there are some of us that thinks that the bot might work fine after the updates, but what if it does not work and the 30 days guarantee have passed, basically we’re screwed right, could you mention that to Andy in behald of all his buyers???,,, I am pretty sure that everyone will be all right with this proposal

    • Reny4jah - Posts: 70+
      July 1, 2010
      Reply #51

      Hey Allan,

      Did you get my mail?

  • nanquan - Posts: 5+
    June 28, 2010
    Reply #52

    @Everyone –

    Here’s an update on my testing of pip-brains and a few conclusions:

    My account at IamFX (medium risk settings) after one week is down to 1,097$. This is after the 1.1a version update. It peeked at around 1,300$ after first couple of days since I started the EA, and has been steadily loosing ever since. So after one WEEK profit is just @ 97$.

    With FOREX.COM account (also 1,000$ same settings), after one week and update to 1.1a it’s now at 948.09$. So it’s lost money.

    Note that both on FOREX.COM and IamFX accounts were started at the same time and with the same exact balance/settings, and the results are quite different.

    As for my 500$ AlpariUK account 500$ low risk settings, it’s now down to 127.55, floating -105. Nothing to even speak of there.

    My conclusion is that this this EA will not perform well at all with under 1,000$ balance. I say this not only because of my AlpariUK account above, but also the 3-4 other accounts of 500$ that it has already blown in week one when I first started to test it.

    So from these two weeks of testing here are my conclusions:

    Firstly, the EA does not perform the same trades and does NOT work the same as on the DEMO accounts here on ForexFBI, and also on myfxbook where the creator Andy is publishing his results. Some trades are identical, but mostly for some reason our version makes more losing trades, and theirs just keeps on winning and making the best possible trades, performing much better overall.

    I don’t know if the fact that they’re both using AlpariUK has something to do with it (as we did see that you get very different results from broker to broker), or simple that the versions they are running are just better, and for some reason (which I can’t really think of) we are offered a second rate product. Maybe it’s because they’re probably running the Advanced version, while most of us are running the basic version with minimal settings, and that despite the claims on the pipbrains website they do NOT perform the same way at all.

    I also noticed this last Friday that the pipbrains demo account here on ForexFBI has closed all open trades before the end of the trading week, while my account on IamFX had about 4-6 open trades which it left open going into Saturday. So again, I’m definitely suspecting that the settings and trading logic are *definitely not the same*.

    Lastly, I’d like to note that absolutely ALL trades on all my demo test accounts come exclusively from strategy no. 3 (martingale). This is contrary to the whole concept of the EA which is to have 3 different strategies which adapt to different market conditions. If I wanted a purely martingale EA I would have stuck with ForexHacked. So really what this boils down to is marketing hype, and what we get in reality is a mediocre martingale EA which is inconsistent at best.

    Sorry, but that’s the honest truth!

    I’m also considering getting a refund before the 30 day period expires. Part of me is still hopeful Andy (the creator) will “come clean” as to the fact that the simple and advanced version perform totally differently and that the simple version sucks. And that he will fix these issues, or just gets rid of this whole marketing idea of offering basic/advanced versions, and just upgrading us all to the advanced one.

    I’m thinking about getting the refund now, and later if the issues are fixed, possibly buying it again. Because if they don’t get fixed and I miss the 30 day window I’m screwed.

    Honest opinion.

    • Reny4jah - Posts: 70+
      June 30, 2010
      Reply #53

      @Manqué & Everyone:

      Your piece was well written and well thought-out. Your appraisal and critique parallel what I would have written if I had not read yours. But I guess all I need to do now is add a few observations of mine to your comment as complements.

      Observation #1: The robot does not make the same trading decision across the board while using it on different/same brokers.

      I have added GoMarkets to the list of brokers I am demo-testing the robot on. Today Wednesday, 06/30/2010, the $1,000 demo account, which I started with at the beginning of the week, had been reduced to $14.50. That of IamFX was reduced to $156.18 (Remember Manqué said his still left a profit of $97 on Tuesday, the previous day to the day this report was filed. Nobody knows the condition of the account at this time). The results were the same at FXCBS and FXOpen with slight variations in account balances.

      Observation 2: Turn the Almighty Strategy 3 off and the robot will permanently go to bed. That is, all the other two strategies are dysfunctional at best and nonexistent at worst.

      Observation 3: Our copies are different from their copies.

      Yes, it doesn’t matter which copy you own, Lite or Advanced, your copy is not similar in performance to that of Andy’s or ForexFbI’s. I dare challenge anyone among us having the Advanced copy to publish his/her good results to debunk the myth that Customers’ Advanced copies are better than the Lite copies.

      @Cristobal: I know you own the Advanced copy. Could you please demystify this misconception by telling us what your results are on this forum?

      Observation 4: It doesn’t matter which setting you use (on the Lite version which I own), your account will still head for the south. Change the settings as many times as you want (low/medium/high risk settings; I have tried them all) and use different leverages and lot sizes to match your account sizes, the robot will eventually blow it up. It may pretend to give you some fake profits. But when you look at the floating numbers and examine your equity closely, you will realize that you have not made anything but are indeed losing.

      Observation 5: Andy is not communicating with ALL of us regarding the issues we are currently facing.

      While we are grateful to Wind for publishing Andy’s letter to him regarding what he would do to solve the problems we are facing, I still find it odd and even strange that he didn’t send the letter to ALL members as he usually did in the past.

      I sent him a comprehensive report and some valuable suggestions that could improve Pip Brains’ performance. I am yet to get a reply.

      That said, the more puzzling thing in the letter is that he did not mention the specific time he would release the new version. All he said in it was “shortly”. How short?

      Conclusion: I can only come up with a simple theory why our copy is different from Andy’s:

      He is trying to protect his copy of the robot from being hacked, duplicated and resold under a different name. We have all seen what happened to Forex Big Cat, which was a stolen copy of Euronis 2000, Zone99 Forex and others.

      Thus, rather than duplicate his own copy for sale, he used a different programming blueprint to build another robot based on the same sound trading idea (i.e. USDCHF and EURUSD are inversely related) with the thought that the so-called newly born Pip Brain would behave exactly as his copy. Obviously, something is wrong with the logic and here we are, victims of circumstance.

      And by the way, ForexFBI’s beta copy is the same as Andy’s copy.

      If we all wait until the 5th or 6th of July and nothing dramatic happens to the performance, I think we would be justified asking for refunds. If he releases the new version before then, we will be able to tell if it works or doesn’t work before July 8, the end of the 30 day window for those of us who bought it on the day it was officially released.

      Oh! Manqué, I believe everyone here agrees with you that missing that 30-day window without any significant solutions to our problems with this robot is akin to being thoroughly screwed. Big time!

      • Reny4jah - Posts: 70+
        June 30, 2010
        Reply #54

        …Sorry. I spelled your name wrong. It should have spelled Nanquan rather than Manque which appeared on my posting.

  • Chicken - Posts: 5+
    June 28, 2010
    Reply #55

    How I can get into VIP section???

    • Allan - Posts: 20+
      June 29, 2010
      Reply #56

      Thats something I would like to know as well..
      Admin you have an answer?

  • wind - Posts: 25+
    June 28, 2010
    Reply #57

    Hi all,

    I just received message from Andy, new version will be release. Stay Tune, let’s hope it will be a better dream machine.

    Quote:
    “I will have an update out shortly that will cut back on Strategy 3 and ramp up the other two strategies.

    -Andy J.

    • Reny4jah - Posts: 70+
      June 28, 2010
      Reply #58

      Thank you Wind for that breaking news. Otherwise, many have been considering disabling and returning the voracious robot that eats our accounts for dinner.

  • balaji - Posts: 5+
    June 27, 2010
    Reply #59

    i am thinking of getting refund for PB as it is disappointing with many bugs. or any one thinks i should wait more.

  • Steve - Posts: 5+
    June 26, 2010
    Reply #60

    Hi Admin,
    Is there any way you can step in and somehow moderate that all of these different circumstances can be worked out. Because at this point I don’t know what do do as so many others are also in the same position. In my instance I can not get it to trade on one broker and on another ithe result are too mediocre to cinsider goin glive. Others have crashed and margined accounts. I was told to turn off strategy 3 because it was crashing the MT4 but you are able to use it in demo. Admin could you please at your earliest give us an update on what’s next and what to expect. Thanks!

  • Dennis - Posts: 1
    June 26, 2010
    Reply #61

    @Admin
    Hi Mr Stevens! Have you constantly upgraded your original beta (Advanced) pibbrains version along with the forum members? Is the AlphariUK broker the make or break it factor in this? Sadly AlphariUK is not available for US citizens. The pipbrain robot version now seems to have stategy 1 renamed stategy 3 and no hedging or martingale recovery mechanism turned on. Here’s my fxopen and IamFX $5000 account stats. Care to try a 2nd demo on them Joe and see what the members are experiencing?
    Help us Andy ! We don’t want to give up on this “Dream Machine” !
    http://dennisfxopen.mt4stats.com
    http://dennisiamfx.mt4stats.com

  • Steve - Posts: 5+
    June 26, 2010
    Reply #62

    I am having zero luck with this. miniscule trades and always one more loser than wimmer. We all seem to be in a different spot here. My EA is dead on my MT4 and does not move. In demo with FXCM-UK and FXOpen and neither show any excitement

  • wind - Posts: 25+
    June 26, 2010
    Reply #63

    yes, I had suffered big lost especially on the USD/CHF. But I wonder why the forexfbi admin din suffer such big drawdown? Is it really because of the lite and advance difference? I doubt.

    • admin - Posts: 70+
      June 26, 2010
      Reply #64

      I suffered some losses this week on strategy 3 but not enough to even dent my account. Not sure how you guys are wiping accounts and what not so quickly with this thing…

      • Reny4jah - Posts: 70+
        June 26, 2010
        Reply #65

        @Admin:

        We guys are suffering losses from the current version because the internal logic of your version and Andy’s are different from ours.

        My account trippled within three days–a performance that is similar to how Pip Brains behaved when it was initially installed at your site. But the rate at which it loses is surprisingly astronomical when compared to your copy and Andy’s.

        Something is internally defective with the programming and logic of the copy we the customers are using that makes it difficult for it to withstand the current market conditions.

        I have written Andy about this.

  • fulcrumfx - Posts: 5+
    June 25, 2010
    Reply #66

    Just checked Reny’s account, down to $3.05 ouch

    • Reny4jah - Posts: 70+
      June 27, 2010
      Reply #67

      Yes, fulcrumfx. It was disheartening. But it was part of the trading game. I am still grateful to Pip Brains though. At least, if it were a live account, I would have been left with $3.05 to buy ice cream.=:)

  • myths - Posts: 5+
    June 25, 2010
    Reply #68

    Yeah… yesterday I also lost about 30% of my account and most of the lost because of USD/CHF, this bot is not as good as what I expected, very disappointed .

  • Allan - Posts: 20+
    June 25, 2010
    Reply #69

    now I am having errors on the journals tab “old tick EURUSD and the prices” and pipbrains is not trading on 2 different accounts, what is going on, anyone experiencing this too?

    • Allan - Posts: 20+
      June 25, 2010
      Reply #70

      oooooooooooh nvm I guess it is because it is already friday XD

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