Pips4Idiots.com Review

Hello yALL,

This EA trades any currency pair, which may be valuable and compensate for lack of trades, or failing currency pairs that need to be exchanged for a better one. If you run 12 currency pairs instead of 6, then you can cut your lot/risk size in half with the same profits. It's like dropping one cylinder on a 6cyl engine, you lose 1/6th your power/profit, but with 12 trades it's only 1/12th the loss on a trade loss.

I have just put all 31 currency pairs that are available from IBFX, on a demo. After one month, a few unexpected pairs are doing well enough I've moved them over to real money accounts. The EUR/CAD had the most trades in one month, 39, all winners. So I've moved the EUR/CAD AUD/USD AUD/CAD over to real money. And I'm still running the EUR/USD GBP/USD EUR/GBP that I started with months ago. There are a few others that are looking like they might do well, the NZD/USD is one, and maybe even the USD/MXN.

Currency pairs that haven't done well, are pretty much anything with JPY or CHF in it. Those pairs have destroyed the reputation of any EA I'm aware of, in which a user trades just those pairs on an EA. They haven't been doing well on any EA I've seen (so don't blame your EA if you trade JPY or CHF). Since December I've had like 15 losses (500 pips on each loss), and 13 of them were pairs with CHF or JPY in them. Those pairs should probably be traded manually, and not with an EA.

I don't work for pips4idiots, don't care what people believe. 75 winning trades in a row over the last 7 days, no losses. I've had a few other times with around 120 wins in a row. These last 7 days was with 10 currency pairs on a demo. Since Dec, at times I've run real accounts next to demo accounts to see if they mimic each other, they do, EXACTLY. I've only had like 6 losses in about 600 trades. Just 6 days ago I looked back at records and discovered -- All of those losses were always on the same 3 JPY pairs -- USD/JPY GBP/JPY EUR/JPY. Losses during the Egypt Kaos, Japan earthquake, and in Dec/Jan for no reason. Those are worthless currencies, the movement is too far up and down (enough to hit a 500sl) even when a crisis isn't going on. 10 other currencies have made 100s of winning trades and the lowest one went down was 250 pips. I have another brand EA that also has 100s of winning trades, with only a few losses, all losses are also on those JPY currencies. Unfortunately the only time I used real money was in Feb/March so the account was about 'break even' as most of the losses occurred during the Egypt and Japan crisis. Otherwise I'd made a pile of money. I'd have 600 wins, no losses since Dec if I did not trade the JPY currencies, which I don't use real money on anymore. I also have the TP modified to 10 (from the factory 20) so trades close often/fast. The balances are on their way back up since I've added other currencies and removed JPY pairs.

PS Also, After months of testing the advanced vs the standard, I don't even use the advanced anymore. If the standard would lose a trade say every 80 trades, the advanced was losing one every 40 trades. The advanced also opened only about 60% as many trades as the standard. Bottom line, less trades opened for the advanced, and losses more often. It broke about even on the account balance. I even increased the SL on the advanced to the same HIGHER SL the standard uses, to give it an identical test and fair shot.

I must be doing something wrong! I have run Pips4Idiots on a $5K demo account since start of February and the current balance is $17K. During the tumultuous month of March (due to the Japan disaster), it made 120 trades using $1K lots (I increased to this lot size after the account grew to $10K). Of these, 4 trades went bad, losing me about $11K but I still made a profit of $7K. During February it made 2 bad trades and made a profit of $5K using $500 lots.

I will run it for another month in demo and if it keeps performing this well, it goes live. Yes, the stop losses are large but they rarely get hit in my experience.

I am also running it on a $100K demo with a different broker and during March it made a profit of $20K using $5K lot sits. What more can I say, maybe a lucky streak, but I seem to be getting totally different results. I haven't intervened in any trades the robot has made, either. I had increased the take profit setting to 20 pips about 3 weeks ago but all other settings are standard.

Terrrible robot. Huge stop losses for minimal gains. Simply not a smart way to trade forex. Running it on demo for 6 weeks and -450 pips. Asked for a refund many times and keep getting referred back to tech support. They simply do not stand by their guarentee. Do not wast your money on this robot as it is a worthless piece of garbage

I had the same results with the EA and the vendor as written below. I also got a phone call from a guy who wanted to sell me some kind of course/mentoring and when I wanted to speak with him about the bad performance of the EA, he just said something like "you know how theese EA's are" and he was not the one who could give me any kind of support for the product. I have bought many EA's over the time,some perform fairly well and the ones that I wanted a refund of, no problems. Didn't buy the upsells on this one and never do that,if the product is as good as they say, why is there any need for something extra !!

I had the sme Murray. Finally 3rd reqest where i said something similar to You worked. They are changing refund request to support with copy-past predefined responds to what You say. they dont make any sense, like they would not read Your reason for request. for example i said that ea lost on demo account twice and back tests showes looses, won only 8, but since 1 lost need 22 winnings to recovery, is not possible to profit from this ea. their respond that things like broker intervention can affect ea performence. with broker cares to do any intervention when You trade on demo account :) ridiculous
crappy ea and bunch of thiefs. that is all

I purchased Pips4Idiots on the 7th Dec. and reluctantly purchased the 1st and 2nd upsell. I was totally dissatisfied with the results of the 13 trades performed and preoceeded to request a refund on the 3 products purchased.
My 1st request:-
I have been trialing Pips for Idiots since the purchase date of 7-12-10 on a $25,000 demo account and have had a total number of 13 trades to date. I have followed all the instructions to the letter. There were 11 winners and 2 losers. The problem is that the average winner was $84.78 and the average loser was $1,411.23. This means that not only was the net loss $1,889.85 but at the average win rate of $84.78 it would take 16.65 wins for every single loss just to break even. The result that I achieved was very different to the large average monthly gain advertised. This is not an acceptable risk to take on a live account, so I am taking the vendors offer of a full refund if not totally satisfied with the product. Thank you for your assistance in this matter.
Vendor then changed request from Refund to Technical Support!
My 2nd request:-
The reason for requesting a full refund was made abundantly clear in my previous request, so I don't understand why it was changed from Refund to Technical Support. This is not a matter that Technical Support can resolve! As previously stated the 13 trades entered by Pip For Idiots in the trial over the last month resulted in a substantial loss even though there were 11 winners. On the 25K account used, the net loss was $1,889.85 which was 7.54%. The worst and deciding factor for a refund was that the average win trade amount was only $84.78 over the 11 winning trades that the EA entered and closed. The 2 losing trades were $1,260.00 & $1,562.46 respectively, therefore the average losing trade was $1,411.23. This means that just to break even, Pips for Idiots would need to average 16.65 wins for each loss taken. The ratio of wins to losses that I experienced for the one month trial period at 11 wins to 2 losses = 5.5 wins per loss. That is over 11 wins per loss taken just to break even, and I am doing this to make a profit not just to break even. Clearly my experience with your robot to date is totally unacceptable and I would have to be an IDIOT to use this robot on a live account. Please do not change the status from Refund to Technical Support again, as NO amount of Technical Support can resolve this issue! Do what you claimed you would do in your advertising and refund my money as this is a perfectly legitimate claim!! I have been scammed by you and the results that I have experienced in my use of Pips For Idiots CLEARLY confirm this FACT!!
Vendor then changed request from Refund to Technical Support!
My 3rd request:-
Having purchased your Advanced

Not only a scam, with endless upselling, but now it has switched to another name and site called Automaticpips. These guys are clearly good at scaming and website fraud because they are not fixing the problems but opening up another site with heaps of upselling as well.

well - the EAs are crap - brought down a demo account from 10K to 8 K in just 3 days - and the recovery was like a rollercoaster ride ...

Both EAs are CRAP indeed to state the least - the manual system could have been nice but one of the indicator parts got lost after 4 days running - i asked support twice - both times i got a prefabricated response - were they quoted 2 statements from theri sell site - i'd like to suggest to add this one to the scam investigation queue

what the big advertisment and what the big fake product this is, over 10 days not a single trade opened, everytime they give excuse for proper setting, every thing done and checked, they are simply making trader fool, and newbbie are too easy to get targeted.

i will tell keep away from such stupid ea.

regards

avinash