PipsExpert.com Review

Really a terrible system. Horrible open Drawdowns, but they show fantastic profits on their homepage. A simple strategy: They never close loosing positions, on the contrary, they continue opening new positions. So they can always show profit and the incredible losses never appear. STAY AWAY.

After trying some similar sites I have found Pipsexpert.com. Reading it through carefully I noticed a lot of interesting things and I thought that this company is honest and can be good. I liked the explaination about trading sytems and also the detailed statistics about their trades.
I subscribed for a quarter and after a while I can say the followings.
The system works. They just forgot to tell that the maximum drawdowns that are indicated are for ONE trade. But at the same time they opened 15-20 trades. Momently they are sitting in about -18.000 (minus eighteen thousand) PIPs in opened positions!!!
The only way to use their system if you have got a 40-50.000 dollars and you can afford sitting in deep minus. Then their return can be about 8.000 Pips yearly, which makes 16% profit a year. It wouldn't be too bad but the risk is too high as they don't use Stop Loss.
I asked for refund which they promised, but still haven't got any money back.

My rating indicates:
- the wrong strategy
- the deep drawdown
- the defective information about the money management to use with this system
- the bad customer service