ForexFBI.com's Pipjet Account Discussion

i bought the pipjet too.. and the pips they take are a joke! 1 pip, 0.5 pip, etc. Only need it to go wrong once to wipe out the whole account

hi andromeda1,

i meant that Pipjet's profit taking is way too low, closing trades with profit of 0.5 to 4 pips so far in my account. We must understand that this performance can never go on forever, one day it is going to get a bad trade. And when that happens, you have a loss of (e.g. -20?), it is going to wipe out 10 winning trades just like that.

I could be wrong, it could go on winning forever, but i doubt it. Its risk/reward just does not look appealing to me. But just a personal opinion.

Its similar to megadroid. Its almost the same but on a new pair. It should do well in the long run. The pips will not always be so small. Give it time to trade. I havent bought it yet, but I used Megadroid for a long time and it runs the same way. Slow and steady.

Garry

Thanks for your feedback Garry. I have not tried Megadroid but heard good stories abt it. For sure i will let Pipjet run.

could you tell me your spreads of usdcad pair?thx very😄

Hi Alish778,

i am using youtradefx and the spread is around 1.6 pips during asian times. However, they have a commission of approx $7 per standard lot.

My trades are similar to the one shown in this demo account, but for some trades i am making a loss as Pipjet would not take into account the hidden commission, only spreads.. so i suffered losses for those that closed with 0.5 pips gain, etc.

I think i need to change broker for this bot..

Hi you all. Just signed up for this forum, because I bought PipJet a week ago and am curious what other people have to say about it. A few observations to far: on this forum, there's someone who lost a few thousand pounds with PipJet, but the information he published shows two things: PipJet is using lot sizes of 10-12 (with me it only uses lot sizes around 0.05, and I'm using demo accounts of atleast $5000), so working with lot sizes up to more than 12.00 seems ridiculous... Maybe it's because his 'LotSize' is set to zero (and what's up with all these zero's at the right of the decimal point? My setting show only one decimal, like '0.15 for risk level ...). Something 's definitely wrong here...

'LotSize=0.00000000
5=Ratio Order Management
RiskLevel=0.15000000
RecoveryMode=1

One more thing: if you guys don't like the fact that PipJet makes only small gains (and on the rare occasion that it loses, it accordingly makes very small losses too :-), why don't you set 'LotSize' to 0.9 or 1.0 or higher? Also 'RiskLevel' could be experimented with, of course you better try this out on demo-accounts first!

I'm gonna keep PipJet running on some demo-accounts too (so far it made almost no losses, but the profits are very low, as said, due to the small lot sizes it uses and the low risk level it's on - gonna play with those settings a bit and keep you posted). Also bought a few other EA's and they look more promising - will post some results about that too in the near future; first have to be sure they're really worth the money/risk.

Good luck to you all!

Hi Ronald,

Welcome! The guy that you saw losing thousands with Pipjet, i think he only added the Pipjet robot recently, the losses were incurred by another robot. Pipjet only trades USD/CAD you can look at the history, many other pairs were traded.

As for changing lot sizes, my honest opinion is that professional traders will not change lot size just to earn more profit. Each trade size should be calculated by the percentage of your equity that you are willing to risk.

Pipjet's risk setting does just that. I risk 5% of my equity for each trade, and it gives me so far a return of approx 0.07%. So the risk/reward ratio does not work for me. I need to have 70 profitable trades to offset one time full stop loss.

stensten posted:
Hi Alish778,

i am using youtradefx and the spread is around 1.6 pips during asian times. However, they have a commission of approx $7 per standard lot.

My trades are similar to the one shown in this demo account, but for some trades i am making a loss as Pipjet would not take into account the hidden commission, only spreads.. so i suffered losses for those that closed with 0.5 pips gain, etc.

I think i need to change broker for this bot..

thanks for your reply.......😄

Pipjet, what a scam. Good thing I refunded my money before, I'm sick of all these fake forex hyped up EA's. There really needs to be some legitimacy.

They claimed a lot more than 3.1 % a month.