November 16, 2012

PIPJet

PIPJet Final Review

I have been looking at PIPJet, a ForEx robot trading USD/CAD exclusively. That sells for $97 (about currently £66).

Not much to say really, you bung the robot on a Metatrader platform and let it whir away. Setup was easy and the few times I have had to contact support I got quick responses that sorted the issues out right away.

The ForEx markets have been unusually flat, I can’t recall a decent trend for many months now. This highlights the problem with robotic traders, an inability to adjust to market conditions. The trial has ended some 70 pips down, and whilst I am sure that the EA would be very profitable under different circumstances, these aren’t prevalent at the moment.

It’s hard to criticise the figures. Whilst I am uncomfortable only making 1 or 2 pips for a 50 pip stop, the biggest profit was a mere 5 pips, I don’t know what sort of pip total the bot would return under better trading conditions. 5 pips per trade wouldn’t be so bad, if there where many trades, the 12-week trial had just 28.

With the loss and poor risk/reward ratio this has to go in to the failed category, but with a rider that the market conditions may well favour this EA one day, it isn’t just now.

You can try PIPJet here:

http://www.cash-master.com/PIPJet.php

Filed under Forex,Spread Betting,Trading by Arthur

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