10 Points 3 robot review - BUSTED! -$4,547

[teamrecon]

Pipcop,

I stumbled across this site a couple of days ago and I must say thanks. It's great to see some honest live results going on.

I wa looking at forexrobottrader, but you've saved me $$ !!

neil

[PipCop]

Originally Posted by teamrecon

Pipcop,

I stumbled across this site a couple of days ago and I must say thanks. It's great to see some honest live results going on.

I wa looking at forexrobottrader, but you've saved me $$ !!

neil

Thanks, I was tired of not seeing real data, so I figured I would do something about it!

FRT was doing really well, and is still being pretty consistent, but managed to get itself in a bad situation. I would not be at all surprised if it managed to pull itself out of that hole it is in.

[chuck8008]

Originally Posted by PipCop

Considering this EA has made so many profitable trades, but also has two losers right now that are set to wipe out nearly half of the profits, I would recommend no one test this on a live account. Let the review run for at LEAST 60-90 days before risking any of your money. That's the point of PipCop - let's be patient and see what happens.

If you put this EA on a live account, then you're not really benefiting from PipCop doing a review, are you?

Great point there...
C

[PipCop]

Yeah, I've done my own demo tests prior to starting PipCop.com, and noticed a lot of this "up-up-up-crash" behavior. Therefore, I really won't put anything on a live account until I have seen how it works, and seen it work over time.

RoboMiner is one that I am impressed by. Very small, steady wins, and very little drawdown at any time. Even if there were a loss, it would rarely be much larger than a few winning trades. I would like to see it get to the 90 day mark so I can put it on a live account.

Of course, when I do put these on live accounts, I'll start with a micro account. Only after it performs well starting with $50 and does so for 3-6 months would I consider adding any more equity to the account.

The point of Forex is to be profitable. Throwing large sums of money into accounts and then losing it all is how most people lose their money. There's nothing wrong with being cautious, starting small, and having a good, safe, long term plan. For me, it's a 3 month plan, then 1 year, then 3 years. I prefer to know it will be consistent for a long time, not just a few days.

[andylim]

Originally Posted by PipCop

Considering this EA has made so many profitable trades, but also has two losers right now that are set to wipe out nearly half of the profits, I would recommend no one test this on a live account. Let the review run for at LEAST 60-90 days before risking any of your money. That's the point of PipCop - let's be patient and see what happens.

If you put this EA on a live account, then you're not really benefiting from PipCop doing a review, are you?

It is, indeed.
And that's why i'm visiting this site on regular basis now, just want to know how a certain EA perform that day.
Really appreciate what you're doing here. Thks.

[PipCop]

You're welcome. Thanks for signing up and letting me know.

This EA has also gone significantly below $5000, so it's thread icon has been updated to the warning icon. Two negative marks in about 24 hours. It's not looking good.

[kat.miles]

Ran this on a live account today. Started at $610, reached around $670 and then had 2 losing trades back to back, taking me to about $618. I shut it down at that point because I can find other EAs that will make me $8 profit in a day without having to worry about it potentially blowing out my live account the way it did here with the demo account.

Don't trade this one unless you are sitting and watching it.

[PipCop]

This EA has been updated to a thumbs-down icon as it has gone below -$2000.

[PipCop]

Well, that's it folks, this one is out of money.

BUSTED BY PIPCOP!