Pip Cop - Forex Robot Reviews - View Single Post - ForexRobotTrader.com robot review - BUSTED! -$3,318

Killer-B · 2008-11-26, 12:22 PM

You already know my feelings on this one - so you're not gonna get much more outta me...

But - Just for the record, in my previous posts, I DID say Don was a great guy - and that the bot did work... till the "big one"... So, if you can handle the huge DD's - that is the only complaint going around... And that really isn't about exit strategy - more than how to make it work with a S/L - I saw on FPA that one gal did a 2 to 3 (or the likes) T/P - S/L and that works for her... I've tried it with a 150 S/L and since it is a counter-trend trader, 8 of the first 10 orders went south over 150 pips - so - I don't see how that really could work for the long run -

Either way -Watching Pip Cop's daily results, He has a $5K account that is already 60% absorbed with NO profit (or is bleeding red bad) - Was reading PC's comments about setting it up again last night - and he intends to cut his losers at the end of the month (per Don's advice) - Well, that's this Friday if I'm reading my calender correctly - So, unless he has a miraculous turnaround in the next 36 hours, he's gonna lose $2000 of his $5000 in 2 days - and the next 4 weeks, if similar to the past - will bury his $3000 in margin calls - or close to it -

Looking forward... as I've said before, it's a good product, but needs more work - esp regarding these deadly DD's -

Since you mentioned other EA's - I'm now testing several others found via this board - and so far RoboMiner is smoking them all - I'm seeing 18%-25% PER DAY with aggressive settings - but has only been a couple of weeks -

FWIW - Demark and Evolution are "OK" but the DD's are huge there too (not as bad as FRT) - Ironically, FAPS (standard) hasn't done too badly... I trade it occasionally WITH a 150 S/L - for without it, FAPS will blow you up too -

And yeah.... Saw all the usual "hype" over Turbo FAPS - has only been out 1 trading day - and am sure it's close to FAPS original - but is a suckers software - Support is lousy - and "the gang" over there that pumps out am EA monthly for $97 with the usual marketing hype and fanfare doesn't impress me in the least - or make me want to even look at it.. Maybe Pip Cop can forward test a copy? Doubt they'll offer a demo though --- PC, I do have a legit FAPS demo if you wish to test here-

Cheers -

KB

2008-11-26, 12:22 PM	#72 (permalink)
Killer-B Pip Detective Posts: 145 Trading Live with: Forex Funnel	You already know my feelings on this one - so you're not gonna get much more outta me... But - Just for the record, in my previous posts, I DID say Don was a great guy - and that the bot did work... till the "big one"... So, if you can handle the huge DD's - that is the only complaint going around... And that really isn't about exit strategy - more than how to make it work with a S/L - I saw on FPA that one gal did a 2 to 3 (or the likes) T/P - S/L and that works for her... I've tried it with a 150 S/L and since it is a counter-trend trader, 8 of the first 10 orders went south over 150 pips - so - I don't see how that really could work for the long run - Either way -Watching Pip Cop's daily results, He has a $5K account that is already 60% absorbed with NO profit (or is bleeding red bad) - Was reading PC's comments about setting it up again last night - and he intends to cut his losers at the end of the month (per Don's advice) - Well, that's this Friday if I'm reading my calender correctly - So, unless he has a miraculous turnaround in the next 36 hours, he's gonna lose $2000 of his $5000 in 2 days - and the next 4 weeks, if similar to the past - will bury his $3000 in margin calls - or close to it - Looking forward... as I've said before, it's a good product, but needs more work - esp regarding these deadly DD's - Since you mentioned other EA's - I'm now testing several others found via this board - and so far RoboMiner is smoking them all - I'm seeing 18%-25% PER DAY with aggressive settings - but has only been a couple of weeks - FWIW - Demark and Evolution are "OK" but the DD's are huge there too (not as bad as FRT) - Ironically, FAPS (standard) hasn't done too badly... I trade it occasionally WITH a 150 S/L - for without it, FAPS will blow you up too - And yeah.... Saw all the usual "hype" over Turbo FAPS - has only been out 1 trading day - and am sure it's close to FAPS original - but is a suckers software - Support is lousy - and "the gang" over there that pumps out am EA monthly for $97 with the usual marketing hype and fanfare doesn't impress me in the least - or make me want to even look at it.. Maybe Pip Cop can forward test a copy? Doubt they'll offer a demo though --- PC, I do have a legit FAPS demo if you wish to test here- Cheers - KB Last edited by Killer-B; 2008-11-26 at 12:27 PM.