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Pips 4 Idiots
stevetrade

Member Since Oct 28, 2009  1292 posts Steve B (stevetrade) Dec 02 2010 at 16:30 (edited Dec 02 2010 at 16:38 )
I always take a look at new EA's coming onto the market.
I've just finished looking at this new 'Pips 4 Idiots' and I noticed several things that I wanted to make people aware of.

I have posted comments on his page but I doubt they will be published.

1) Grand Capital ( the broker in one of the statements ) is Russian and has no English translation of their website. Does Joe Simpson, an obvious Brit, speak Russian? Wow.

2) On the screen where he shows us his 'live' account with his transactions there is no doubt this is a live account. However, is it his? He doesn't show the login details. You would show your navigator window with the accounts box in order to prove it is your account and not an investor login you picked up somewhere online. Expert Advisors are also not turned on and there is no expert advisor attached to the chart. A little weird no?

3) How did he use his 'Collective Algorithm Technology' before anyone else was using the EA?

4) How did his 'Collective Algorithm Technology' work during his backtests. Which brings me onto 5.

5) The video where he shows the EA trading in real time is obviously backtest visual mode. The feed is going way too fast and there is no icon to represent his expert advisor on the chart!

6) Joe still hasn't learned the power of compounding. He traded for five whole years without once thinking 'Hey I started with $1000 and I now have $50,000 in my account. I think I can handle more than 0.5 lot'

Okay, that's all I can spot. Anyone else?

Steve

11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
chaki123

Member Since Nov 26, 2010  3 posts chaki123 (chaki123) Dec 03 2010 at 07:39
Yup, I agree with you Steve. It does not make sense to me.

stevetrade

Member Since Oct 28, 2009  1292 posts Steve B (stevetrade) Dec 06 2010 at 11:43
Just had another look at this out of interest to see if the much boasted about investor passwords to look at the accounts had materialised.

The message is
'Here are the usernames and passwords to TWO of my LIVE forex trading accounts so that you can see ALL my trades for yourself and verify every single one of my claims. I can bet you that there is not a single 'guru' out there who is this transparent and can back every claim…

URGENT: Due to a massive overload of traders trying to login to our accounts (thousands of you guys), the broker has blocked access to the account for the time being.'

Brilliant piece of misdirection. My BS detector is flashing like crazy over here.

11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
speki

Member Since Nov 18, 2009  735 posts speki Dec 06 2010 at 11:54
I love this site - gets me thru the day in a very funny way. I always think there's no more but then yet another plonker appears. Some are benign, they actually believe what they say - but I reckon many might be scammers.
I like this later type - I love the way they lie. lol


Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
pc8multifx

Member Since Sep 04, 2009  860 posts pc8multifx (pc8multifx) Dec 06 2010 at 14:51
Yes Steve, this thing smells so fishy, I can only read through all their marketing BS with doors and windows wide open, otherwise the bad smell would kill me
Only fair thing is the name of this product.. for idiotsevil

Lambsi

Member Since Oct 23, 2009  1 posts Lambsi Dec 07 2010 at 00:16
rayong1

Member Since Nov 26, 2010  126 posts Raymond (rayong1) Dec 13 2010 at 17:01
Yeah, I agree its a piece of J***. I still bought it via a Megadroid link to get their bonus which was a USD/CAD EA that they had really provided login details to.

But having sprung for it pips4idiots is a real piece of S***. Right after you spring 97 for it they take you to another link trying to sell you optimized settings for it for 87/month. The only setting I could really change was the SL and TP. &*^&^%, like I'm going to spring 87 a month for SL and TP settings!!!

But I was expecting that. My BS meter was also flashing before I bought it but I wanted the MD freebie.

Well to be fair I did try running the EA, there were 2 actually, pips4idiots and pips4idiots advanced. Both junk. TP 20 and SL 500. In the manual he has the audacity to say 'that's the way it is'. EA is only 12k in size so there's nothing there.

So enough said. pips4idiots is not worth the space here.

The Pip Laser EA that was MD's bonus however was pretty incredible. The backtest was off the charts. I was able to get a profit factor of over 10 with tweaked settings. And the default had virtually no loss as far back as feb 19th. EA had very good entry criteria where most trades went the right direction. At this point this is all academic, I'm testing it now but no trades in over a week so far.

I'm peeved that I have to keep the stupid pips4idiots in order to keep the bonus EA. Wrote to MD to complain about that. Well I'm running this for a couple of months to see if its worth hanging onto.

Don't buy pips4idiots if that is what you're looking at.

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