I installed pipjet, having already tried megadroid, apart from the fact it trades usd/cad I cant see much if any difference. At the rate it trades it will take months just to get my purchase price back. I will give it another week and then if no improvement I will go for refund. Not really impressed.
The PipJet team has released an update this week, I’ll be interested to try it out. Below is the full text of the mailing they sent out:
PipJet Robot Version Update - v1.01 Released
Almost double the number of profitable trades!
When we launched PipJet about three weeks ago, we went
to great lengths to explain why you’d want to join our team
and put your trust in our product.We particularly wanted you to know that you’d have a
dedicated team behind you - that you’d never be left
fending for yourself, and that your interests would be our
number one priority.Well, nothing has changed in that respect - we always
deliver on our promises!Since launching PipJet a few weeks ago, we’ve looked at
how the system performs “in the wild” and our development
team has now had the chance to look specifically at how the
system performs across a wide range of brokers and across
many, many accounts at each brokerage.The result of that research is an update that we KNOW will
enhance the performance of PipJet immensely. In fact, it
will almost DOUBLE the number of profitable trades made.We’ve said this before and we’ll say it again:
Building a Forex robot is not just about predicting exactly
how the market will behave over the long run. Market
conditions change, currency behavior changes and the
general trading environment changes.That’s why it’s so important to issue updates to robots - so
that they’re able to cope with these changes. And that’s
what we’ll CONTINUE to do when circumstances dictate.So…
You can download the new version of PipJet, which will
almost DOUBLE the number of profitable trades, by going
here:This update includes the following:
A. SecureProfit
The system has now been adapted for cases of “lower than
expected” volatility during market opening. In this event,
half of an open trade will be closed with 5 pips profit which
will result in substantial gains and decrease risk at the
same time, since only half of the original trade can
potentially end up negative from that point onward.This addition to PipJet’s trading logic also considerably
decreases the number of break-even trades.B. ConsiderCommission
The robot will consider broker’s commission as part of the
break-even calculation, thereby preventing trades from
closing with a zero gross profit but a net loss due to the
commission.Our own testing has shown that this approach neither
worsens the trading results nor afects the precision of
trade closures.** These two updates to PipJet’s trading strategy will
secure you:
More trades, and
More profitable trades!
Get your new Pipjet version by going here:
Now…
A note regarding the current market conditions.
The past couple of weeks have been rich in events and
government data releases which has temporarily affected
the normal market volatility that PipJet was built to exploit.This is VERY NORMAL and very transitional situation. In
other words, it’s ging to happen from time to time, so
simply let the market regain the required volatility and
PipJet will then get back to its normal self.Over the past 2 years, we’ve actually seen this happen a
few times. In fact, if you look at our 5 live account
statements, you’ll notice periods of less frequent trading
and periods of higher frequency trading too - again, it’s
perfectly normal.Please remember, what matters most is:
- The LONG TERM results of a robot
- SAFE, LOW RISK trading, i.e. small, very infrequent losses
- Adaptation to new market behavior
PipJet’s been a star in all three of these KEY areas, and we
guarantee that it’ll continue this way for a very long time.It’s VERY easy to create a robot that exploits a short-term
market condition (you’ve seen these robots – those that
place 20-50 trades per week and seem to be a trader’s
dream… but then fall apart when the short-term market
conditions change!).But, it’s HARD to create a robot to will be consistent for
YEARS to come, and that trades steadily, profitably, and
with very small losses over a long period of time.That’s exactly what we offer our clients – steady, long-term
wealth building… no matter what market conditions are like
over the long run!Look at your trading account deposit for what it is - your
HARD-EARNED money!.. and remember that the most
important thing in trading is protecting that deposit.We’ve always been pro “safe trading”, and that’s what our
products are all about… SAFE and CONSISTENT gains, and
our first priority is taking your hard-earned money into
consideration.PipJet can generate high gains for traders using it because
it adheres to the most important rules of trading:Rule #1: Protecting the trader’s equity, and
Rule #2: Growing that equity as quickly as possible WITHOUT
ignoring rule #1!We’d like to end this email by reminding you that we’ll always
be in contact regarding PipJet’s performance, important updates,
and to address any other issue to ensure that PipJet remains
profitable long into the future.Please download your new PipJet version here:
Good trading,
The PipJet Team
Installed and first trade was which went to s/loss not very impressed so far. I’ll give it another couple of weeks and if no improvement then go for refund.
Make sure you use one of their recommended brokers. With a crap broker you are going to get crap results.
Broker is good, so not broker problem, had losses with previous version but these were acceptably small. I am on vps with good latency. As I said I’ll give it a couple of weeks.
Which broker are you running it with? I’m with FX Choice (one of their recommended brokers).
Pepperstone Razor, and CNS vps.
i did a myfxbook search and the results varied pretty wildly from -20% to +3% Overall it seems to be a very “break-even” ea but than again it has been quite for md so maybe it’s just the market and getting into the dog days of summer. August has never been a good month for me. I am seriously considering turning my ea’s off for the month or at least dialing down there risk significantly until September.
The summer market is extremely involatile (everyone is on vacations, the big players included). So no immediate returns should be expected here. I always give scalpers like this one a few months to deliver profits. The reason I bought PipJet is that it comes from the Forex Megadroid makers, and I’ve been having reasonable success with Megadroid over time (although not immediately).
That text does talk a good fight. But if they know forex as well as they say, why are they releasing this in a quiet period ? Surely they shou;d have waited till September, and picked up loads of wins in their first week ?
Perhaps, they have picked a time when no other major Forex products are being released not to compete with them for the sales. That’s the only thing that comes to my mind.
Also, the quiet period, whatever it is, could to be the best time to release software. Work out the bugs with us early adopters. I still have it running backtests. No trades yet. Anyone know if Oanda is even possible for this?
OK, PipJet first impression. I’m not new to trading, but new to forex and EAs. But, not new to coding, technical indicators, etc.
How to bite? I still don’t know. But, I’m very interested in trying something. I’m been trying free EAs just to get the
eval skills. I even bought one other EA, for about this price. Forex Trend Wave, based on Gann Swings. It works a little.
So, I just bite the bullet I guess. No way to really tell. I’m being offered another one, for $300. Who knows?
IAC, out of the box, I want to see them trade something. So, I ran the 3 weeks in July 2012. (takes overnight)
Does it Trade? YES
Profit? MAYBE
This is straight up, no tweaks, but you can see it went the wrong way and lost on Trade #3. Didn’t need that big stop loss, so maybe I can adjust an run it again. I’m need to check the GMT offset, etc. Comments are very welcome.
How about this? Running July 2011. It hit a nice trade. Very wide stop, the position had legs as you can see.
But, why close at +$50???
Yes, because Oanda is now offering MT4 on live accounts, to the best of my knowledge.
Looks like it. I just did another pass with the research last night and there are very few complaints about them, lately, and EAs do seem to be allowed for live accounts, now. We’ll see.
BTW, this is the first robot I’ve found that tells you exactly what it’s trying to do. There are pages that I missed that detail the conditions. I know quite well, now, why it goes for small profits. That’s one strategy for ranging. The other is the aggressive where it tries to pick up a short trend. If enable it will do both strategies.
Ran a test on July 2010, non-aggressive, .01 Risk, and it traded 9 times for ~$300 profit.
Hey Guys. I’ve been running other ea’s and came across PipJet. Decided to purchase it today. Running it on FX Choice broker, demo. As soon as I can get the myfxbook set up on it, I’ll post the widget. I figure 60 day money back gaurentee can’t be too bad. FX choice didn’t give me the option to change the deposit amount. Otherwise I would have started with $250, as though live.
Hi Mojo3557, I just returned it, it trades even slower than Megadroid for very small profits. Well it did for me anyway, best of luck with it.
The profits are small but the stability is great. Haven’t lost a single trade so far.
I’m running it on 2 demo accts. Before I had a chance to tweak the settings, it opened up a trade right away on one acct. lot size was 9.5 lots, so it started off over $29 in the hole. I will say, it hung in there and closed at -$1.99. It has not opened a trade on either acct. since then. I have read several reviews indicating the number of trades can be small. According to the manual, it does not trade on fridays, weekends, or the last few days of the month. I have settings for one acct. set to what almo1010 stated above (non-aggresive), and the other is set for aggresive, .2 risk. I figure I’ll run it for 6 weeks on demo. If it does not trade enough, or turn a decent profit, I’ll return it. I also suspect it may not trade frequently depending on the broker. If the spread is big, it will not trade (according to the manual).