Been running Pipsminer with interesting results..

[forex robot arena]

Hi Everyone,

Not sure if this is the proper format, but I would like to share my experiences with the PipsMiner Robot..

This is being tested on a demo acct. I have set the lot size to 1 so I could easily see how many pips were being earned. I will set to use a risk management strategy in a couple days, but wanted to get a straight feel for how many pips it was producing.

results are from 12-15-09 thru 1-6-2010

Pips Miner SE

Total trades = 45
win - loss = 41-4
total pips = +390
avg win = +30
avg loss = -210

note: currently in 18 trade win streak (+540 in streak)

How has everyone else's results been with this bot?
I am attempting to post a pic of the account trades...

[PipCop]

I've moved this to the Reviews section of the site. If you don't mind, please read the rules at the top of the forum and add some more information for us.

Welcome to the site!

-James Fullerton

[forex robot arena]

Thanks, James..

Just read the rules and wanted to include some more info regarding the previous post..

I am using fxcm.uk as a broker ...

I purchased the robot at www.forexrobotarena.com for $99 with a 60 day money back guarantee.

I did not include leverage settings, because this test was purely to measure pips earned, not account growth. will provide that in a future update.. for now focusing on tracking pips.

Using default settings as is out of box (or download)

hope this helps.. anyone else try this bot?

[rsmereka]

There is a 10 week demo of Pips Miner here which ended Nov 26, 2009 and the EA was promoted to a live account. Unfortunately, you have to be a paid member to view the live account statements at that site.

Another demo review is here. This demo has been running over 15 weeks. Take a close look at the equity graph. This is what can happen with multiple losses. Notice that the equity peak was a while ago and the EA has not yet recovered.

Another demo review is here. This demo has been running since Sep 3, 2009. Notice that same equity curve where it peaks and then has multiple losses and has yet to recover.

My impression is that Pips Miner SE is like a lot of other EA's that trade the EURUSD pair. I live and demo trade another EA, EB-Turbo which is very similar. The key with this type of EA is to keep the losses to a minimum because the EA losses way more pips per trade than it wins. One way to keep the losses down is to shutdown the EA prior to NFP day (generally, the first Friday of the month...which is tomorrow). Pips Miner also has no MM which means that the lot size has to be manually calculated and plugged in.

There is also a good discussion of Pips Miner here including it's similarity with EB-Turbo and it's tendency to have a long string of wins and then start losing.

Rick

[forex robot arena]

Hi Rick, thanks for the review sites, I have already read through a ton of these, including those. I also have been testing several forex robots, most of which trade on the euro/usd pair. I have yet to find a robot that has performed as well as the Pips Miner SE. I saw the review you posted and while it hasnt recovered to its equity peak, it is still well in the profit zone.. which is more than I can say for most of the EA's out there.

As far as Money Management goes, you're right, there is not a built in system, but if you go to their site, once you purchase, there is a risk calculator. Once you enter your account size, it gives you three different recommendations for lot size based on your risk tolerance. Once your account grows (or depletes), you can revisit entering your new account size, then adjusting your lot size accordingly.

Also, good advice turning your robots off for Non Farm Friday.. Not a good day to trade ...period.

A quick update to Pips Miner SE performance, since my last post, It has executed 5 more trades, all winners for +30 pips each. This brings it up to 23 consecutive winning trades all at 30 pips. And has now produced net +540 pips since Dec 15. I will post a new screen shot of the new trades once i get a little more data, prob next week.

A side note... The companion robot to Pips Miner SE is the Pips Miner LE. That has also been performing well. Since Dec 15, It has opened 7 trades, all winners, for +35 pips each. This robot comes free with Pips Miner SE. Will post a screen shot of these trades soon.

Anyone else using this robot?

...good trades,
Bot

[hotsawce]

Originally Posted by rsmereka

There is a 10 week demo of Pips Miner here which ended Nov 26, 2009 and the EA was promoted to a live account. Unfortunately, you have to be a paid member to view the live account statements at that site.

Another demo review is here. This demo has been running over 15 weeks. Take a close look at the equity graph. This is what can happen with multiple losses. Notice that the equity peak was a while ago and the EA has not yet recovered.

Another demo review is here. This demo has been running since Sep 3, 2009. Notice that same equity curve where it peaks and then has multiple losses and has yet to recover.

My impression is that Pips Miner SE is like a lot of other EA's that trade the EURUSD pair. I live and demo trade another EA, EB-Turbo which is very similar. The key with this type of EA is to keep the losses to a minimum because the EA losses way more pips per trade than it wins. One way to keep the losses down is to shutdown the EA prior to NFP day (generally, the first Friday of the month...which is tomorrow). Pips Miner also has no MM which means that the lot size has to be manually calculated and plugged in.

There is also a good discussion of Pips Miner here including it's similarity with EB-Turbo and it's tendency to have a long string of wins and then start losing.

Rick

That's pretty much what I've heard about pips miner; I don't think it's the robot for me. However, I've heard interesting things about Equity Builder...uses a limited martingale strategy or something. Have you heard of it?

[forex robot arena]

Not heard of Equity builder, but not a fan of Martingale strategies either.. doubling up after a loss is not sound trading strategy.. it's gambling. Best bet is to be consistent in your risk across the board. The reviews are ok I guess, but it is still hearsay. I am actually trading it, and have traded about 10-12 robots overall.. all with GREAT reviews, yet none have delivered like the Pips miner has been. I will keep posting results and let you be the judge over time. I use all default factory settings.

I also have a couple other bots that are doing well, I will post them in seperate threads.

...good trades,
Bot

[rsmereka]

Originally Posted by hotsawce

That's pretty much what I've heard about pips miner; I don't think it's the robot for me. However, I've heard interesting things about Equity Builder...uses a limited martingale strategy or something. Have you heard of it?

Actually,

When I bought EB-Turbo, Equity Builder was also a contender.

Last I heard, Pipdetector was running this EA. Maybe we should ask him how it's going.

Check starting at post #303 of my trading journal where Pipdetector and I discuss EB.

Rick

[forex robot arena]

Ok everyone, here are the most recent performance data for the PipsMiner SE robot.

results are from 12-15-09 thru 1-12-2010

Pips Miner SE

Total trades = 57
win - loss = 52-4
total pips = +720
avg win = +30
avg loss = -210

note: currently in 29 trade win streak (+870 in streak)

Settings Recap:
I purchased the robot at www.forexrobotarena.com for $99 with a 60 day money back guarantee.

I did not include leverage settings, because this test was purely to measure pips earned, not account growth. will provide that in a future update.. for now focusing on tracking pips.

Using default settings as is out of box (or download)

Attached is a screen shot of all trades...

...good trades,
Bot