Pips 4 Idiots = pure scam (beware)

[Pharaoh]

A lot of newbies scream when they can't find the right button to press. In this case, there were people who asked for a refund and had it repeatedly denied. That's no longer a case of a newbie who doesn't understand what's going on. Turning a refund request into a tech issue once or twice to try to save a sale is reasonable. Doing it over and over again is just an attempt to get around ClickBank's refund policy and keep the cash.

 

[scratchman]

You're a fund manager?

I have no connection with Pips4Idiots whatsoever, but I am a fund manager and advise that I have had 17 consecutive winning trades using the software since end of Nov 2010 on a very large client account.I fail to comprehend what all the screams of "scam"are all about. The advanced version (the upsell you refer to) simply trades on a different timeframe and often opens a trade when the std version doesnt... and closes it profitably!! Clearly the cries of scam are from people who have never tried the EAs. This gets my back up big time. Also the clown that mouths off about someones coding and making it public should be removed from the forum. His financial situation probably matches his low intellect so they wont waste their time suing him. They could harm forex peace army instead. What a clueless idiot he has to be.

Yeah, right. Sure. And I'm the Queen of England.

 

[MarkR]

well I have to disagree with all of you. I am a fund manager with millions under management. I do not use MT4 for trading client accounts. I use a java based platform for institutional traders. I use customized EAs for the platform and also trade manually;wait for signals from Pips4idiots on a demo MT4, then apply the signal to the client account. The results have been extremely good so far. I have now completed 31 trades of which 30 trades closed at TP and the only losing trade closed at -15 pips. Importantly if you purchase the upgrade you can have the EA continually optimized. What you are all saying is that none of you actually installed the EA and tried it yet you are prepared to shout scam. What is it with you guys!!. scratchman , you are not the Queen of England but I am a successful fund manager and have little time for sheer stupidity.

 

[MarkR]

No you are not the Queen of Englanf but I am a fund manager and the EA works as well as any I've seen. Now 31 trades and 30 winners.

 

[scratchman]

well I have to disagree with all of you. I am a fund manager with millions under management. I do not use MT4 for trading client accounts. I use a java based platform for institutional traders. I use customized EAs for the platform and also trade manually;wait for signals from Pips4idiots on a demo MT4, then apply the signal to the client account. The results have been extremely good so far. I have now completed 31 trades of which 30 trades closed at TP and the only losing trade closed at -15 pips. Importantly if you purchase the upgrade you can have the EA continually optimized. What you are all saying is that none of you actually installed the EA and tried it yet you are prepared to shout scam. What is it with you guys!!. scratchman , you are not the Queen of England but I am a successful fund manager and have little time for sheer stupidity.

First of all, I did install it and extensively back-tested it, which you would know if you bothered to read my first post on this thread. It's crap. Second, I also dis-assembled it to see the code, and it's nothing but a plain-vanilla EA without any type of self-adjusting, artificial-intelligence code and there is no code that allows for optimization. Third, if you were a successful fund manager, you wouldn't have the time to muck around on boards like this. Fourth, if you were a successful fund manager, you wouldn't risk client funds on an unsophisticated, mass-produced piece of software called Pips4Idiots that you had to purchase on the internet. Fifth, it seems you have LOTS of time for sheer stupidity since you apparently indulge in it quite often, as your posts here can attest.

Please go away. You're obviously associated with Pips4Idiots and feel the need to shill for it to try to pump up sales of what is a worthless piece of crap and a scam.

 

[Dietmar]

No you are not the Queen of Englanf but I am a fund manager and the EA works as well as any I've seen. Now 31 trades and 30 winners.

Hi MarkR,

as far as I know there are some different products called "Pips4idiods" available. Two are EA and one is a manual trading system? What are you using and at what pairs and what timeframe?

Greetings from Hamburg/Germany,
Dietmar

 

[MarkR]

Hello Dietmar,

I am using the two EAs Pips4idiots and pips4idiots advanced on a retail forex broker demo MT4 account. The Eas are applied to the 1 min charts GBPUSD and EURUSD only on the demo. I trade manually for my clients on another institutional prime broker account with additional customised algorithms (they dont have an Mt4 platform). I wait for any drawdown until I have confirmed that price has reached resistance or support on the 5 min timeframe . At that point and using the same SL and TP indicated by pips4idiots EA, I enter an order at the price reached. The direction taken for the trade is based solely on the buy or sell signal from pips4idiots EAs on the MT4 demo account. I have found it to be very accurate. This way I get an even better entry point and gain additional pips. I do not use the pips4idiots manual indicator. Using the prime broker I do get some advantage as the spread is 0.7 to 1 pip on the majors with a reasonable commission paid on volume. The results some of which are with very large clips have been excellent.

 

[MarkR]

scratchman, extensive back tests have no relevance whatsoever to present market conditions. In fact backtests older than a even a couple of weeks will almost certainly prove worthless in determining whether the EA will work. This is simply because market conditions can change in a day. In fact, its through the hyping up of their 'perfect' backtest results and curve fitting that scammers have relied on to sell useless Eas for years. If you put these EAs on real money accounts, more likely sooner than later the account will be wiped out. Also why would the developer put some of his special codes in the EA for people to see. Have you considered that an EA on your MT4 charts could be replicating trades from another more advanced EA which is transmitting signals to you via the server. Also, optimization of the EA in itself will not ever be found in the code. Optimization is achieved by replacing the original exe file in the experts folder with an upgraded recoded file from the developer, as and when market conditions indicate an upgrade is needed. Why on earth would you be looking in the exe file for optimization codes. I really dont see why you would do that. Please turn it up will you about me being in some way connected with the developer or seller of this software!

How would a busy fund manager find the time to be looking around these forums. I guess its an old habit. I used to regularly frequent this and similar forex forums before my transition to professional trading and still do when I can. After all, if I didnt, then I would miss out on meeting such a colorful character as yourself.

Did you install the software according to the manual. Have you entered different magic numbers in inputs for each of the three different charts, or on two only if you are not using the advanced upgrade version of pips4idiots.

Whatever criticism you may have of the Pips4idiots EA, it does work perfectly well for me on forward tests , and with or without your investigations of the coding. Now its your option to start being impolite again.

Senior Currency Trader
OneGlobalFx Limited
Hong Kong

 

[CanAm]

.... extensive back tests have no relevance whatsoever .........older than a even a couple of weeks will almost certainly prove worthless in determining whether the EA will work......because market conditions can change in a day. .......... sooner than later the account will be wiped out. .......EA on your MT4 charts could be replicating trades from another more advanced EA which is transmitting signals to you via the server.....install the software according to the manual

Hmmm, you can't backtest something but you should blindly follow it?

If market conditions change that quickly, then, given a December release this EA is already worthless / out of date for the market conditions?

Transmitting.....to where...through firewalls...does it also hack your FOREX account....isn't that a virus?

Why does every EA seller ask - did you install as per manual - if there are settings to be changed why don't they just ship it with the correct settings?

 

[Dietmar]

Hello Dietmar,

I am using the two EAs Pips4idiots and pips4idiots advanced on a retail forex broker demo MT4 account. The Eas are [...].

Thank you, Mark!

have a nice day,
Dietmar