Word of advice peeps dont trust robots. Use common sense. If it seems not to be working then probably it doesnt really work.
Hi DVS. On Myfx book, I am testing 3 robots on seperate demo accounts, one of them is Megadroid which I purchased last week. On a $500 demo acct, it has blown over 30%. Going to give it a little more time, then will return it if it shows no improvement. I have already returned Pipjet. One of the other bots is also in the red. Breakout Hunter and Master Scalper on one acct is also struggling. I have used those on live accts with some success. I purchased Million Dollar Pips Monday, and it is the only one which has not traded, which is good news. It trades on spikes, so it works a little different then the others. If you go to www.myfxbook.com, and search Anubis, 3 will pop up in the list. I am the one with the US Flag and the only name “Anubis”. There, you can track and compare how these bots are doing. 
Hi themtarhills,
How many brokers are you using with pipjet?, i think is important the broker that you use to obtain different results.
I have tried with alpari in the past with megadroid too and i have very good results like an example, right now i am testing pipjet with some demo brokers, and i will be posting the real account results inside my website in: robotpipjet.com/blog, well it is in spanish but numbers never change 
Hi Zkorpio,
I’m using pipjet with just Pepperstone, which was recommended to me by tulipfx, who run Kangaroo. They recommend this because the price feed is highly accurate, and Commercial Network Services offer an “ON NET” service in terms of ping time.
For more details on price feed, and other issues surrounding brokers, read here.
Oddly though, it seems that Pepperstone doesn’t work very well for an impulsive scalper I bought, which is one of the best performing EAs on MyFxbook and on birts eareview.net site. Maybe the price feed is “too accurate” for the million dollar pips style of trading.
OMFGWTF,
Nice name :). I would argue that an EA is an extension of the strategies that many forex traders cling to like broken rafts on choppy seas. A well written one, such as Kangaroo, or for some brokers NumberOne, is well worth having.
Birts’ EA review site shows a loss of 6% for pipjet so far. He is running it at half the default risk - smart cookie. The questions for me are :
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How often will this happen ? If it’s a one off, then the EA will return to profitabililty (it had gained 13% over 3 months before it dropped 18% on birts’ setup. If there are no extreme drops like this for the next 6 - 12 months, then the EA will be profitable overall.
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Is this something I can run overnight and babysit in the morning ? Before the London session kicked off (when the volatility kicks in), the trades were 10 pips down. If I had cancelled the trades at that point, I would have lost 5% instead of 20% (when the trades hit the stop loss at 3 p.m.), which is more palatable if it’s once every 3 - 6 months, and the EA is winning 3% per month normally, because the EA will still be winning overall.
In an ideal world, Pipjet would have closed with a loss of 10 pips before the London session started, but I’m guessing the developers took a chance when writing it that the market doesn’t go against open trades that often - this just happened to be one of those times.
I stopped using PipJet because of its strategy. If you observe it’s trades, it tries to capture a small amount of pips by allowing a large drawdown to occur. The risk/reward ratio is too great.
To counter the time when it fails to get these few pips, it will increase the lot size on subsequent trades until the difference is made up. This increases the risk again.
While the core strategy may have a very high hit rate, the account will inevitably suffer from drawdowns. Using the recommended settings, this could be 20% of the account size.
I’m not sure that the core strategy is sophisticated enough to place trades at the correct place, as I often noticed that it would often go a few hundred dollars into drawdown only to end up making 5 or 6.
There are better strategies out there.
Also, for those running PJ and other EAs, the recovery feature will be messed up by the interaction of the other robots. You’re better off using custom lot sizes and then increasing if recovery is needed.
It’s a SCAM. Not one of the PIPJET “Official Live” accounts on their site show the StopLoss. NOT ONE! They hid it!!!
"I stopped using PipJet because of its strategy. If you observe it’s trades, it tries to capture a small amount of pips by allowing a large drawdown to occur. The risk/reward ratio is too great.
To counter the time when it fails to get these few pips, it will increase the lot size on subsequent trades until the difference is made up. This increases the risk again.
While the core strategy may have a very high hit rate, the account will inevitably suffer from drawdowns. Using the recommended settings, this could be 20% of the account size.
I’m not sure that the core strategy is sophisticated enough to place trades at the correct place, as I often noticed that it would often go a few hundred dollars into drawdown only to end up making 5 or 6.
There are better strategies out there."
Read more: 301 Moved Permanently
Hi Adaire,
Having lost a further 3% after manually intervening on a Pipjet sell trade that was going away from me, and would probably have hit stop loss if I’d have allowed it to trade during the volatile London session, I have to agree. If I were selling 2.4 million dollars worth of Megadroid, I would at least employ a trader to sit up during the Asian session, and get him to activate a “kill switch” message out to any EAs that were still trading, to protect my customers from this. Or indeed, write the EA so that it didn’t hold onto losing zombie trades during the london session…
I’m pretty annoyed because that 2% loss wiped out a 2% gain I made on a EURUSD sell trade I’d worked out myself yesterday…
Time to ask clickbank for my money back. Again. How long before they ban me ? :)…
Incidentally, would you care to divulge one of those “better” strategies please ? My account would be grateful :).
Edit :
Here’s my reply from megadroid support - charming !
"Hi,
I would suggest you hold fire for a few weeks and just leave the system running on a demo account so you can see the results first hand.
But if you really want a refund then simply forward your receipt to <[email protected]> but I suspect that you are being [B]rather rash and that your decision is ill thought out.[/B]"
On backtesting for this account there were no trades for PipJet on that day (October 15 GMT), this is interesting.
PipJet test accounts
None of five official PipJet accounts (monitored at MTRocket.com) suffered the loss of October 15–16 night. The servicing brokers are undisclosed.
Could these statements be generated by fake broker servers?
I guess it’s possible ? Although in the testing results they put out there were occasional big losses. It does seem unlikely that none of the 5 were hit.
Is it also possible that the brokers they use, have less detailed price feeds, that kept pipjet out of the losing trades that others, on pepperstone like myself for example, were dragged into ?
It does seem more than a little suspect, when you consider how many people have reported that hit. I don’t see what they have to lose by not disclosing the brokers. Especially when you consider that they claim they are offering “full disclosure”…
PipJet developers recommend FXChoice broker at number 1 in members area. Bravehoststamps had an account at this broker with PipJet, monitored at MyFXBook. The account suffered the loss on October 15 to 16 night in full (on both strategies).
That is why I am interested in what brokers are used for test accounts.
Additionally it is interesting to compare order entry levels.
At Alpari NZ Limited tonight (November 08) I got a strategy 2 sell order at 23:00:04 server time (GMT+2) at 1.00025. Probably not the best level.
"I guess it’s possible ? Although in the testing results they put out there were occasional big losses. It does seem unlikely that none of the 5 were hit.
Is it also possible that the brokers they use, have less detailed price feeds, that kept pipjet out of the losing trades that others, on pepperstone like myself for example, were dragged into ?
It does seem more than a little suspect, when you consider how many people have reported that hit. I don’t see what they have to lose by not disclosing the brokers. Especially when you consider that they claim they are offering “full disclosure”…"
Any luck with megadroid recently?
Anybody using Megadroid with Armada or LMAX? I wonder what are the results.
Interesting, curious do pipjet has backtested results for past few years?
Yesterday PipJet Strategy 2 position brought a loss of 52.4 pips (hit stop-loss) at Alpari NZ Limited broker.
Order was opened on December 20, 2012 23h47m58s at 0.98770, closed on December 21, 2012 15h44m01s at 0.99294 (Greenwich Mean Time).
Did anyone suffer a loss overnight also?
Thank you.
No one of this “mega projects” will be long live… Better search for EA which has proved it’s self in real market conditions.
I am sorry, it was Greenwich Mean Time plus two hours.
- This is PipJet performance since July 21, 2012 on FXPro demonstration account (member AzureFX on MyFXBook):
I have similar performance on Alpari NZ Limited live account.
Now it is understandable why PipJet developers conceal broker names on their test accounts.
Hi,
I am looking for reviews on PipJet…
Do you have the LINK to your FXBook profile?
Seems to be like what you say…
Here is one from a seasoned forex robot tester… Up 34%++ already: pips…M0v3RkF9LpGCKE’s Profile | Myfxbook…
Let me know ! Thanks…