Comments on: Pips4Idiots Review – Pips 4 Idiots Exposed

By: ClieriCar

ClieriCar — Sun, 06 Mar 2011 23:52:34 +0000

de ce nu:)

By: dm

dm — Tue, 01 Mar 2011 11:46:22 +0000

I have been running Pips4Idiots on a $5000 demo account during February and it has returned a $4000 profit. It would have returned $6500 profit if I hadn’t tried reducing the 250 pip stop loss. With the 250 pip stop loss it has had a 100% success rate! This is using a 15 pip take profit and 0.5 lot size on the majors and JPY crosses. I have now upped the take profit to 20 pips and it’s still churning out winning trades every day. I know you all say it’s rubbish software but it’s hard to argue with the results I am getting. If it keeps performing this well during March I am definitley going live with this ‘crap’ software! For now it’s 10/10 from me.

By: N. L.

N. L. — Sun, 13 Feb 2011 15:40:53 +0000

In reply to Ray. No Ray, You didn't have to keep that sorry software just for the MD bonus. I had the same situation happen to me and MD said to just get a refund. I have their great robot till this very day. Hope this helps anyone else as well

By: George

George — Tue, 28 Dec 2010 18:52:32 +0000

In reply to Ray. Hi, Im new to your website, and still learning with Forex Eas . I bought Pips for idiots and returned it within a few days. I saw that promo for the MD lazer bot, but was never able to find it again to buy thru them. Any way I can still get the lazer bot? thanks

By: Weston

Weston — Thu, 23 Dec 2010 23:09:46 +0000

I purchased and have been testing on my demo account. This EA is almost exactly like Forex Loophole which is nearly identical to Automated Pips. I’m suspicious that they are all from the same people. Maybe not, but at any rate they are all junk in my view. The defaults have huge stops (225 – 500 pips!) and target profits of 5-10 pips. In my testing of all of them, they nearly always buy at tops hoping to grab a few pips or sell at bottoms and hoping the same. There is no real thoughtful algorithm to these and there are not thoughtful instructions to optimize them either. I’m running defaults and had several $25 wins in row (.25 lots), then had the stop hit on a trade – a loss of $1,250.00. Yes, your read it correctly. So, how many $25 wins does it take to overcome that! These EAs are simply junk. Don’t waste your money.

By: Ray

Ray — Fri, 10 Dec 2010 09:58:07 +0000

I bought it via Forex Megadroid’s email which offered their free usd/cad EA as a bonus. Pips4idiots is junk. The EA has only SL and TP settings and the default SL/TP is 20/500…win loose ratio or 1:25. Needless to say the default settings are crap. Also as soon as you fork out the 97 bucks they take you to another page that sells you optimised settings for $87 a month. #$#%$$% Like I’m going to pay 87 for SL and TP settings. Absolute junk.

It is however, a set of indicators and the free indicator you get when you try to exit the site is not bad, it seems to be better than the one you’re paying for when you buy the system. The manual is so poorly written I can’t figure out how to use the indicator (the paid one that is). The explanation is so short and in point form and the illustrations are not labeled that I can’t figure out where the trade exits are. Real piece of junk!

Having said that Megadroid’s free EA pip laser that came with it is absolute gold. In backtesting it shows over 98% good trades and even when the win lose ratio is set to 1:2 it still gives a 90%+ wins. Playing around with the settings I was able to get it to produce over 10K% profit in a year. Yep not a typo. The normal settings will still produce over 500% profit a year. But just started using it so yet to be seen. However, MD folks gave login details to a live account trading this EA since July. It made 26 trades and no losses, a/c up 138%. I don’t work for MD.

It offends me that I have to keep that piece of S*** pips4idiots just so I can keep the bonus EA.

By: Larry

Larry — Tue, 07 Dec 2010 20:48:08 +0000

I was all ready to purchase Pips 4 Idiots because I liked the concept, what Joe was saying and the guaranty looks good. But, as I was reviewing the video on Joe’s “actual” account I noticed something strange. There are no trades in June, 2010. Now I’m not saying anyone is misrepresenting anything, I was backtesting an EA that I had developed recently and noticed the same situation on my backtest results. It seems there is no June, 2010 data in the history file or it’s corrupted. I’m just wondering why Joe made no trades in June in his “Live” account.