Forex Pip Shooter is an expert advisor that is called a smart Forex robot. The developers decided to provide us with information about the trading solution in general but they skipped sharing intel about features, settings, risks, etc. In this Forex Pip Shooter review, we will analyze the trading strategy, backtest and live trading results to help you decide whether it is a good trading tool to invest.
The advisor is designed around a Pip Shooter technology. We don’t have extra details to be sure that the system works without huge risks.
What is behind the Forex Pip Shooter robot?
The presentation includes some details about the system performance and the most important details, settings, and features.
- We have an advisor that works completely automatically for us.
- We can work without adding effort from our side.
- The expert advisor can grab all possible profits from the market moves.
- It can perform emotionless for us.
- The system can allow us to trade on a terminal at the same time without problems.
- It checks support and resistance levels to understand where the market is going to go.
- The system tries to analyze breakouts, rebounds, and correlation cases.
- It places orders on the market frequently.
- We can check how much we will be able to get via a profit calculator.
- The system works completely safe on the terminal.
- It can manage adapting the performance to our needs.
- We can have the best trading experience.
- The advisor provides us with an automatic order execution.
- We can rely on money-management that protects us from sharp market moves.
- It opens and closes orders for us.
- Trading is possible on 28 currency pairs.
- We are allowed to work with the MT4 terminal.
- We don’t know details about time frames the system works on.
The trading strategy can be developed around price action, but the developers mentioned that the system uses the following approaches: spread trading, breakout, and hedging. The diversity should increase profitability.
The offer looks a bit overpriced because the devs ask €800 for a single real account copy. The package details aren’t revealed. So, it’s hard to predict if there are enough demo accounts, free updates and upgrades, etc. We have no refund policy applied either.
Trading performance of Forex Pip Shooter
The developers have decided not to provide us with backtest reports that would show how well the system was tested and what results it could manage to achieve. It’s important to understand what win rate the robot has, drawdown level, accuracy, average win and loss, and so on to make a wise decision.
Forex Pip Shooter has been running a real EUR account on IC Markets with 1:500 leverage on the MT4 terminal. The account has a verified track record. So, the data and charts we see should be trustworthy. It was created on December 09, 2020, and deposited at €1001.06. Its total gain is 26.43% with an average monthly gain of 1.61%. The maximum drawdown is low–9.34%. There’s a single trader who tracks the account trading results.
The system has executed 161 orders with 3,340.5 pips gained. An average win is 49.90 pips when an average loss is -59.24 pips. Expected accuracy is 75% for longs and 71% for shorts. An average trade length is five days. The profit factor is 2.30.
The advisor works with so many pairs. This means that the robot isn’t customized to trade several cross pairs in the best way.
It opens orders before and a bit after the European trading session.
Wednesday with 38 orders is the most traded day.
We may note that the system doesn’t trade pretty frequently.
The developers provide us with an average level of support. They answer our questions within several hours. Sometimes, it takes several times to get our questions answered.
Alas, the presentation isn’t featured by people’s testimonials. It’s a con because it’s hard to predict if the robot works that well for clients as for the owners.