Review of the Pips Automated EA
Launch Date : Tuesday, September 21, 2010 at 12:00 PM EST
| EA Name | Currency Pairs | Timeframe | Strategy | ECN | 4&5 Digits | Take Profit | Stop Loss | Home Page |
| Automated Pips | All Majors | N/A | Manual | Yes | Yes | Unknown | Unknown | AutomatedPips.com |
Performance (PipsAutomated Test Results)
UPDATE (Sep, 21, 2010) – It seems I was right in guessing their results to be fake. They originally had the results posted from the broker MB Trading, but they didn’t even have Metatrader 4 running back in 2006 making their results bogus! Who would have thought…
License
- Main Product (Automated Pips EA) : $77.00
Upsell 1 (Recurring EA Market Optimizer) : $87.00/Month
Upsell 2 (USD/CHF System) : $77.00
Upsell 3 (Advanced System) : $57.00
Upsell 4 (Manual System) : $37.00
Strategy
Aside from it trading on all major currency pairs, we are really left in the dark here as to how this thing is going to trade. I will update this when I find out the strategy incorporated with this robot.
Recommended Brokers
FX Open and Iam FX are two brokers to consider when trading forex robots.
Conclusion
Well they claim to have 5 years of real live money trading results, yet they won’t show it yet? If they wanted to hype up their EA, they would have those results plastered over their sales page by now. Can’t wait to see these results…
They are also claiming that the Automated Pips EA will adapt to market conditions, heard this one a few too many times.
They even have the famous “As Seen On” The Wall Street Journal, CNN, Forbes etc…
The marketing aspect of this EA seems to be organized a bit too well which is usually a red flag for a garbage product. Good products don’t need good marketing. I hope I am proven wrong, but I have been right more times than not.
WARNING: This is being sold by the same guy that sold Forex STF, FAM Drone, Stealpips, Euro System and Pipsbot
Safe To Buy?
MAYBE!
Only because it is being sold through Clickbank with their 60 day money back guarantee.
AutomatedPips Overall Rating
I started running this EA last October with a high risk level using default settings which has a default lot size of 1.0. It doubled my $7900 account in 3 months, but I didn’t like the draw down with the lot size so big. I stepped out of trading for awhile and started it up on a $1000 account on 4/1.This time I set the lot size to .10 lots with a 70 pip stop loss. It has been making trades in sync with my signals service. So far out of 40 trades there have been no losses. The account is up $200 since the first of the month. I’m not sure why this EA has bad press as it has been very solid each time I’ve run it on a live account.
I did make some pips with this EA. Not using it any more. Just did not feel comfortable NO SL and NO TP
Not sure what you all are doing wrong, but in 6 demos and a live acct it’s performing incredibly. In 2 months it lost once, pretty heavy but more than made up for it. Lost $1018, but made $3120.
I did try the full backtest with every click but it does not do any trade in 2000,2001,2002. moneymanagement does not work, it will always trade 1 lot and does not matter what risk percentage you select. I am now fighting to get my money back. They also claim a 2 month periode of new settings update for 7 dollar for the 1st month. after one week they charged me already for the full month subscription.
hi, I also bought that I ve lost in 5 days more than 700 . After 2 weeks of mailing for refund request i finally got my money back from clikbank.
Yes, I bought this one with all the bells & wistles. I new straight away I’d been had! Asked for my money back straight away but they insisted it was a qualitly product.
Dont get me wrong it shows great results in back testing with near 100% acurate. BUT dosnt use STOPS, so we all know what happens with no stops. I questioned this with there support team but they assured me that the EA uses broker protected settings & stealth stops bla, bla bla. Anyway got my money back for all the extra’s but kept the EA so I could run it on demo to see what happens?
It only took a couple of weeks but it took 2 profit trades & the 3rd trade blew the account with a margin call!
I got my money back & told them to stick there stealth stops!!
Dino.
Don’t buy it. in 3 days it opened one trade that cost me 500 dollars. I’m getting my money back.
great review admin and great site you have going here. Regardless of your warnings, I may still purchase this one just to check it out and refund it later. Gotta see what all the hype is about lol.
They have results posted on their site now, something seems fishy about them though. The 5 year account has a 0.52 swap exactly on every trade that generated a swap. That’s a little odd.
Each account is only trading 1 currency pair, I thought It supported all majors? Thats also a little odd.
Fabricated backtests turned into forward tests? Possibly…