autoprofit
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Yes, I installed it last week and Pips Leader is a real scalper, having made about 200 trades and nearly all winners.
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I actually went ahead and bought this robot and am running it on an Alpari demo account. It strikes me as a very aggressive system. It takes a view and keeps adding to its position every hour until the position goes its way and scoops all the profits or slowly stops itself out as things start to go wrong. After 3 days my account was up about 13% but last night it has gotten itself badly short gbpusd and has given back about 15 % and is still has a pretty sizeable position after almost a 200 pip rally in spot. I will post later how this trade ends up and how the robot fares in the next few weeks but it certainly looks like it is not for the faint hearted!
Hi Scotsman, Sirxl, cooldent and autoprofit.
I too bought this EA last Friday (13th) and as of today it has almost doubled my account. I agree with Scotsman...... it is not for the Faint hearted! LOL Especially if you do like I do and push the limits
in demo mode. So far I have not blown the account and am trading .4 on the gbp usd .... my eur usd did not trade for over a day so I put it down to .1 as I was not sure what it would do when it came back. Glad I did as it decided to do basket Sells in an uptrend ..... I am watching it .. so far everytime I thought the EA would lose for me it has taken profit. Might be a keeper!
Val
I too bought this EA last Friday (13th) and as of today it has almost doubled my account. I agree with Scotsman...... it is not for the Faint hearted! LOL Especially if you do like I do and push the limits
in demo mode. So far I have not blown the account and am trading .4 on the gbp usd .... my eur usd did not trade for over a day so I put it down to .1 as I was not sure what it would do when it came back. Glad I did as it decided to do basket Sells in an uptrend ..... I am watching it .. so far everytime I thought the EA would lose for me it has taken profit. Might be a keeper! Val
HI Sirxl,
I was running it with .4 lots on the gbp usd. I just wiped it out LOL Not really sure why tho as I was just looking at it when it closed all of them but my bar didn't turn red like it was a margin call. lost 1667.28 have 2219.28 left. So still in profit LOL I did notice today that it had several chances to close in profit on one of the baskets it had but didnt. when I looked at my journal it had tons of OLD Tick in it and right after it had to log in again. I have been sitting here watching it all day and it never disconnected..... I have one other platform that seems to do that alot too. Not sure what the deal is .... I get no connection when trying to close trades when doing manual trading and I can see the charts moving... I have reported it and they are looking into it at one place. But anyway thats what I had on the #$ and the eur/$ did not trade for a little over a day. so most of that came from the #$
Val
if you want i can post the log of my trades
I was running it with .4 lots on the gbp usd. I just wiped it out LOL Not really sure why tho as I was just looking at it when it closed all of them but my bar didn't turn red like it was a margin call. lost 1667.28 have 2219.28 left. So still in profit LOL I did notice today that it had several chances to close in profit on one of the baskets it had but didnt. when I looked at my journal it had tons of OLD Tick in it and right after it had to log in again. I have been sitting here watching it all day and it never disconnected..... I have one other platform that seems to do that alot too. Not sure what the deal is .... I get no connection when trying to close trades when doing manual trading and I can see the charts moving... I have reported it and they are looking into it at one place. But anyway thats what I had on the #$ and the eur/$ did not trade for a little over a day. so most of that came from the #$
Val
if you want i can post the log of my trades
Just an update and a question for those that may be more experienced with this robot than I am. As I said yesterday this robot started to go short gbpusd a couple of days ago and was caught out as we saw that strong rally. As we headed up towards 1.4400 region it started to slowly buy, obviously reducing exposure. However these were essentially new buys and were not linked to any of the sales the day before. It continued to buy back as gbpusd fell through late yesterday however again these purchases were treated independently from the previous days sales. As a result I still have a lot of open trades even though they essentially net off the risk. Presumably this eats up margin in my account as I have to post margin for each individual trade. Is this right. As i have said I am quite new to Alpari, MT4 and robots in general so hoping wiser heads can advise. Also I have only been running this robot a few days so who knows what will happen to all those outstanding trades but I can see how this approach might eat up margin in your account. I am also running this robot on eurusd and a similar thing has happened.
Hi Scotsman,
Seems to me this EA does not have a clue which direction the trend is....it and will take orders until it stops out........ either that or something happened to it at some point and it lost some info somewhere. Seems to work like a grid someone said. I too think this is how it works as the Trader# is either a plus or minus.... it is hard to see the - but it is there if it is below the area it has determined as center. If it is below that area then it only take Sell orders and if above it will only take Buy orders. I was at an Area I had determined yesterday or wednesday was where it had decided to call its center. It had a problem when it went below that line after being above it for some time..... it started taking Sell orders and then stopped out. For some reason it seems to not know how many orders it has taken ..... First day it did not take more than 3-4 with me using .4 and not over 10 with me using .1 Something has changed it seems.
Val
Seems to me this EA does not have a clue which direction the trend is....it and will take orders until it stops out........ either that or something happened to it at some point and it lost some info somewhere. Seems to work like a grid someone said. I too think this is how it works as the Trader# is either a plus or minus.... it is hard to see the - but it is there if it is below the area it has determined as center. If it is below that area then it only take Sell orders and if above it will only take Buy orders. I was at an Area I had determined yesterday or wednesday was where it had decided to call its center. It had a problem when it went below that line after being above it for some time..... it started taking Sell orders and then stopped out. For some reason it seems to not know how many orders it has taken ..... First day it did not take more than 3-4 with me using .4 and not over 10 with me using .1 Something has changed it seems.
Val
OH and how I determined my center line was off the first candle on the first day.... I drew a line at the top of that candle tip and from that point to the top of the candle that the trader # was on was the # it had displayed on the Eur/Usd Seems it is .0020 different on the GBP/USD not sure why except the first one was a small candle. Not accurate but close. I have 1.2809 for line on Eur/Usd and 1.4278 on Gbp/usd this will vary due to different brokers you may use than mine...but will be similar. I also did not get any trades on the Eur/Usd until it rose up again to within where it traded before. I am guessing it will not trade out farther than 79 pips from center line unless it is already in one before it crosses that line.
Val
Val
Well as I said I am running this on an 500-1 leverage Alpari demo account and given eurusd and gbpusd have just been chopping around a lot with no clear direction I have about 58 open trades more losers than winners showing a floating loss of 2300 usd and currently used margin of 868 usd. I am guessing that if it just keeps buying on rallies and selling on dips and the market stays in a range your capital will be wiped out or you will have to post more margin to keep the robot trading. If we suddenly get a move in 1 direction for a period of time I am guessing it will snatch its profits and close out all outstanding trades. This is purely on demo for me at the moment it got off to a great start but the fact it has stopped closing out trades puzzles me. I sent their support team an email a few days ago about a different matter but I think the response is valuable with respect to waht I am talking about here as well.
Hi,
Put simply, the Pips Leader robot is what is known as a
"basket trader".
The advantage of this type of strategy is that market
direction is not especially important, only market
movement.
Of course, the Pips Leader robot does try to identify
market direction in order to speed up the process of
closing the “baskets” of orders but, as you will
appreciate, it will not always identify the correct
direction, which is why you will see two things commonly
occurring:
1) Additional orders being opened if price starts
moving the wrong way
(this is known as “cost averaging” and effectively
brings the close-out level nearer to current price)
2) Opposing orders being opened if price moves too far
the wrong way
(this is known as “hedging” which offsets negative
positions and reduces drawdown)
At some point, the combination of a shift in market price
and an imbalance between the open long and short positions
will allow the basket of orders to be closed and the target
achieved.
Until this occurs, there will frequently be a floating
loss, however, that is a temporary situation but part and
parcel of trading this kind of strategy
Thank you & All the best,
Tom Geller
President, Pips Leader
I dont know what your trading capital is but using my demo on 0.4 size lots you would run out of margin very quickly given the number of trades this robot executes. Think if you want to run it you have to lower the position size if you are going to survive. I should add I am running this on both H1 eurusd and gbpusd.
Hi,
Put simply, the Pips Leader robot is what is known as a
"basket trader".
The advantage of this type of strategy is that market
direction is not especially important, only market
movement.
Of course, the Pips Leader robot does try to identify
market direction in order to speed up the process of
closing the “baskets” of orders but, as you will
appreciate, it will not always identify the correct
direction, which is why you will see two things commonly
occurring:
1) Additional orders being opened if price starts
moving the wrong way
(this is known as “cost averaging” and effectively
brings the close-out level nearer to current price)
2) Opposing orders being opened if price moves too far
the wrong way
(this is known as “hedging” which offsets negative
positions and reduces drawdown)
At some point, the combination of a shift in market price
and an imbalance between the open long and short positions
will allow the basket of orders to be closed and the target
achieved.
Until this occurs, there will frequently be a floating
loss, however, that is a temporary situation but part and
parcel of trading this kind of strategy
Thank you & All the best,
Tom Geller
President, Pips Leader
I dont know what your trading capital is but using my demo on 0.4 size lots you would run out of margin very quickly given the number of trades this robot executes. Think if you want to run it you have to lower the position size if you are going to survive. I should add I am running this on both H1 eurusd and gbpusd.
it doesn't matter what size you use.... it sets the amount of orders depending on the size of your balance. here is an example from my ea journal...
07:50:42 pipsleader GBPUSD,H1: MAX number of orders 3
07:50:42 pipsleader GBPUSD,H1: MAX equity 81
07:50:42 pipsleader GBPUSD,H1: MIN equity -1039
07:50:42 pipsleader EURUSD,H1: MAX number of orders 7
07:50:42 pipsleader EURUSD,H1: MAX equity 75
07:50:42 pipsleader EURUSD,H1: MIN equity -1030
from this i take it the only sl it has is the equity.... you might want to look and see how yours looks but I don't think i want to use an EA that will let it go til it hits that # -1039 for this pair and only take an 81 profit. Seems to be quite a large loss compared to the take
i have a 1:200
I guess i should have looked at this sooner. LOL
Val
07:50:42 pipsleader GBPUSD,H1: MAX number of orders 3
07:50:42 pipsleader GBPUSD,H1: MAX equity 81
07:50:42 pipsleader GBPUSD,H1: MIN equity -1039
07:50:42 pipsleader EURUSD,H1: MAX number of orders 7
07:50:42 pipsleader EURUSD,H1: MAX equity 75
07:50:42 pipsleader EURUSD,H1: MIN equity -1030
from this i take it the only sl it has is the equity.... you might want to look and see how yours looks but I don't think i want to use an EA that will let it go til it hits that # -1039 for this pair and only take an 81 profit. Seems to be quite a large loss compared to the take
i have a 1:200
I guess i should have looked at this sooner. LOL
Val
Just a quick update on the performance of this robot. It continued to place trades eating up margin until gbpusd and eurusd went moved in one direction and it managed to close out all so called 'basket' trades trades for a small profit. Obviously some 'baskets' lost but across the portfolio of baskets it made money. As I said if you have deep pockets this EA could work for you. It has made about 30 percent for me over the past 2 weeks. But not for the faint hearted!
Freedom2live
Newbie
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Hi Val08.
They say that this EA is mainly designed to be used on the EURUSD on a 1 hour timeframe. The GBPUSD is more risky. I suggest that if you want to trade 0.4 lots, you should divide your capital between 4 different broker accounts, with at least $2,500 trading bank and trade 0.1 lots on each. If you backtest Pips Leader over the 2008 year, you'll find that on above 0.1 lots, it lost money, but using 0.1 lots per trade, it made a profit of about $21,400. Like any great tool, it will serve you well if you use it correctly. There's more info about this at this site:
Pips Leader - Brilliant Forex EA - But Be Careful! | Forex Trading System Reviews
They say that this EA is mainly designed to be used on the EURUSD on a 1 hour timeframe. The GBPUSD is more risky. I suggest that if you want to trade 0.4 lots, you should divide your capital between 4 different broker accounts, with at least $2,500 trading bank and trade 0.1 lots on each. If you backtest Pips Leader over the 2008 year, you'll find that on above 0.1 lots, it lost money, but using 0.1 lots per trade, it made a profit of about $21,400. Like any great tool, it will serve you well if you use it correctly. There's more info about this at this site:
Pips Leader - Brilliant Forex EA - But Be Careful! | Forex Trading System Reviews
teachmehow
Newbie
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can someone that knows what they are doing check this?
hi guys
just back tested this robot using a $5000 deposit, 0.1 lots against the EUR/USD 1H chart. i tried different settings, deposits, and lot sizes to see what gains were given over the course of 2008 trading.
i just changed a setting which no one has mentioned, (and i know nothing about) to see what happened and it nearly tripled the count in no time at all.
The setting i changed was the model. I used the open prices only model.
This gave far greater gains,..only i dont know what it means and i havent tested it in real time as im only in demo mode, testing different outcomes.
I would strongly advise anyone who is not experienced to ignore me, as i dont know what im doing either! lol.
Any info appreciated.
regards
teachme
hi guys
just back tested this robot using a $5000 deposit, 0.1 lots against the EUR/USD 1H chart. i tried different settings, deposits, and lot sizes to see what gains were given over the course of 2008 trading.
i just changed a setting which no one has mentioned, (and i know nothing about) to see what happened and it nearly tripled the count in no time at all.
The setting i changed was the model. I used the open prices only model.
This gave far greater gains,..only i dont know what it means and i havent tested it in real time as im only in demo mode, testing different outcomes.
I would strongly advise anyone who is not experienced to ignore me, as i dont know what im doing either! lol.
Any info appreciated.
regards
teachme
