This is an entry for a Forex product called Pips 4 Idiots. The official site for this product is at pips4idiots.com. If you’re looking for more info about this product follow the link.
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Beware, I tried to leave a comment about their account that trades 10 lots with a 500 pip stoploss that would loose $50,000 if it hit the stoploss and they censored the comment out. They only show the comments from people drooling over this new EA.
There are 3 upsells advanced ea, manual system, and a monthly subscription.
On the blog they had up this joe simpson said there was going to be no upsells or monthly subscriptions, big lie!!
It looks to me that if you want the same results as shown on the website you will have to fork out $261 and $87 monthly after.
Sounds like a great deal huh?
My comment was also censored, i asked about upsells and a monthly subscription and my comment was never posted.
I also found a descrepency on the site. He has in his live account a Eur/Usd trade that made 12.3 pips. It has a profit of $50.00 with a .5 mini lot size. How can that be? Should be 61$ I send him an email and no reply yet and i really do not expect one. I have said all along this is nothing but a hyped up scam period and little by little it is coming true.
A couple of disturbing things here in addition to the other comments. Joe promised 5 free licenses, but now that the sale is live, no mention on this again. When a request was sent asking who the winners were, no response.
Then there are the scare tactics right from the start;
“Please note that I’m only releasing a limited
number of copies of my Pips 4 Idiots System, so
once the VIP Download Pass expires in 3 hours,
I’m afraid that I can’t guarantee you a spot.”
and…
“P.P.S. Your Early-Bird VIP “Insider” Access Pass will be expiring in the next 30 minutes. That means you have 30 minutes to secure your 100% risk-free trial copy of my highly sought after Pips 4 Idiots System.”
Joe has let us down like all the others before him.
After viewing the above comments, I examined the figures on his website more closely. I found some of the trade figures didn’t add up; profits or losses numbers were wrong. Also, unless the accounts are swap free, there should have been swaps on some of the trades.
Given the points made by previous posts and observations of my own, I have become cautious of his website. At this stage, I would rather wait for real user comments before going ahead and take the plunge.
The video represents a guy called Joe. That is not the person sending emails. The way the pips4idiots has become listed across the net selling at every turn smells of a scam and a sophisticated person driving the web strategy. I took the free offer and it does not work and no one will respond other than tells you to read the manual.
I purchased this s/w yesterday afternoon, cost me £69.85. I noticed the SL was 500 yet TP is only 20 with 1.0 Lot Size and no %Risk controls which I found alarming as this looks like a sure fire way to empty your trading account (I’m only using this in demo mode at the moment). I emailed Support yesterday and got some feedback stating that the website earnings reports are based on standard settings which I think looks highly unlikely. I’m fairly new to Forex so fail to understand how you can hide SL and TP settings from the broker (if anyone knows, please comment). As yet the robot has not made a single trade. I will give this another two weeks and if nothing has happened I will seek a refund from clkbank.
hey,
I am as well fairly new to Forex and after searching the internet I found this pips4idiots website. i told myself that I would try out this offer but it seems as these guys just want to make the big bug since after paying for the software they keep on trying to sell you several other services like updates (87$ per months), a special help desk etc. and when you finally get to the point from where you can download the software, my computer couldn’t open the downloaded file and error message occured. this note stated that I should send a email to a certain email adress and after doign so I got a reply that I bought a fake copy. great news and really trustbuilding..!
dont buy this software its no use! especially after reading the other posts above too..!
Note: I had to remove some of the comments as it’s all going downhill. Folks, if you haven’t bought it and don’t have anything better to say than “it’s a scam”, don’t bother to comment. These are supposed to be reviews not rants.
What about people who don’t buy it because they notice something blatently wrong about the so called proof on the sales page or some other red flag presented in the marketing technique.Are these people supposed to keep their mouths shut and not worn others just because they didn’t buy it? Doesn’t sound right to me.Maybe their is a legitimate reason it all going “downhill”.I would re-word my last post if I were you before people who frequent this site start thinking you have some interest in some of these products other than reveiwing them.
And all those posts you’ve described are left as you can see above.
I’m all for constructive criticism, but something like “it’s a scam don’t buy” (this being the whole comment) adds little, wouldn’t you agree?
I used to approve the comments before they went public but recently I decided to auto-approve them. It’s increased the activity but it also increases the comments that I otherwise wouldn’t let them see the light.
If it becomes an issue, I’ll go back to moderation queue. Nobody wants to read a bunch of one-liners, curses and what not, people want real reviews.
Hi..
I did buy this product yesterday and spent most of the night doing back tests. I set up a demo account and tested with a $1000 opening balance, just like a couple of the ‘proof accounts’ shown on the web site. The ‘regular’ EA did $239 profit from 1/1/10 to 12/3/10, the dates used on the proof accounts. It hit the 500 pip stop in Nov and nearly blew up the account. In short, $239 profit for an entire year, not $26k as the web site ‘suggests’. The “advanced” EA did even worse, losing $819 for the year on a $1000 account.
I tried to optimize lots, s/l ans t/p, but could get no higher than $400 profit for the year, a far cry from the claims, especially for the ‘advanced’ EA that cost an additional $87, and $87 per month. By the way, I was running 0.1 lots. Who ever heard of trading a $1000 account with 0.5 lots and a 500 pip stop? Wow!
I will not say this is a scam, but, for me, this does not make sense and does not even come close to claims. As for the upsell to the ultimate, ‘unleashed’ manual trading system, they don’t even tell you how to trade it in the instructions, so for now it is also worthless.
You can draw your own conclusions, but the performance against claims is a wide spread indeed. I am asking for a refund today.
Just be aware that I am urging caution if you are considering this product.
As for Bills comment from 2:00 Dec 7, 2010.
The owner of this web site does have an interest other than just reviewing. They are making money every time someone buys the listed products through the links they have in the “review”.
Nothing wrong with that, but they do benefit.
Harvey
For sure, more info in the tos.
However that has nothing to do with keeping the site clean. But let’s not go any more off topic, let people post their reviews.
A follow up to my earlier email…
I have decided not to wait and applied for my refund of £69.85 and also emailed the Pips4Idiots Support Desk confirming this refund request. I hope to get an update in 2 days so I’ll keep you informed of progress.
For the record, the EA is shown as running (smiley face in my EURUSD M1 chart) but still not a single trade and the EURUSD has been active today and I have made about 200 pips with manual trading alone 🙂
Finally, the free Pips4IdiotsIndicator I downloaded prior to purchasing this EA is simply the Heiken Ashi indicator which is a built in MT4 indicator. I’ve combined this with Parabolic SAR, CCI and a CCIArrow and I now have a suite of indicators which I can rely upon for scalping and trending.
Good luck to anyone else who has bought this Pips4Idiots EA
Join Forex Peace Army
ther we are hunting Scamers!!
Ok, I have been censored. Let’s try it again 😉 (Thanks Admin for letting this one out, it’s in your interest too)
I have bought the software in order to prove to one of the Promoter I respect that this “product” (we really can’t call it that way) was a scam, even before buying it.
I have written my conclusions on Forex Peace Army’s website where I have attached a decompiled version of both Pips4Idiots and Pips4Idiots Extreme for people to look at the reality of the scam themselves. Just search for “pips4idiots” on FPA website to find the post.
I’m so sorry for those who felt for the sales pitch… they are really good at that. Greed is really leading this world into chaos. Let’s stand and fight now!
Hi Folks, John here. You have no doubt seen me post on other EA’s, and if not Nice to Meet Ya. Yes I noticed all the “slimy marketing” typically associated with Ea’s. I of course read the affiliate page, so the upsells were no surprise. After many EA’s that backtest so well “Turbo Pip Sniper” as an example. I put very little faith in backtesting other than for drawdown. I have purchased the software, none of the upsells. No trades the first day. Since then it has made 2 trades, both wins at 20 pips. Now given the massive stop loss, it takes 25 wins to cover 1 loss and at the rate it trades, it will probably take a month to get to 25 trades. I have it on a Live $100 acct at default settings with .01 lot risk. I also make 100-200 pips a day manually trading, so I’m willing to risk this this for an honest forward tested result. I will post results as they happen. Cheers….John
Pips4Idiots is a bunch of bullshit and its the same old crap.
A decomplite will show it is nothing special. All the EA is simply Schoastics, SAR, Demarker and WPR (Williams percentage range). See for yourself:
[Sorry, the code is just too long to post it here, you can post it somewhere (ex. pastebin.com) and post a link here if you want. Also keep in mind that posting a code of a commercial product may be infringing the copyrights. -admin]
i was one the first one too sign up did buy the robot wowwww a con if you want too trade 100% you have too joint that and that what a farce you have too forge more and more money before earning a penny so the robot hes on 3 days never pick up a trade yet did send many emails not yet reply all the same hes a con men he should be ban anywhere he say he only release so many copy but today you still can buy it hahaha clever marketing we are always the loser the one try too make extra dollars can those con be put too jail ????that all
Here is the link to the source code:
http://www.mediafire.com/?lcxzfe3yr0ic40r
As you can see its nothing special (just SAR, stochastics, demarker and WPR)…any fool can throw that together.
I have not tried this EA, but thankfully Forums like this have saved my from parting with my hard earned cash, thanks especially to Wayne for posting on FPA.
Clearly this is a scam, the source code amounts a measly 12K, even with so called Adaptive technology, which not appears to be included. The guy promised no upsell and very , very low drawdown, so in book this is officially a scam!
I will now disassociate myself from any affiliate who tried to sell me this product, some surprising names, but clearly these vendors cannot be trusted also. The affiliates hitting my mailbox were:
FapTurbo Expert Guide
FapTurbo
Forex Review Team
Forex Megadroid Team
International EA Competition Team
Justin Perez
Forex Police
I bought this EA, but then was suspicious of the up-sells. I bought the first up-sell, but then jibbed at the 3rd.
I back-tested and got very disappointing results. The 500 pip stop is the killer. Interestingly if you try to reduce the stop-loss the EA looses even more.
This EA breaks all the rules of risk management and the support site will not even discuss it.
As others have experienced it has not traded in a week when EURUSD has been really active.
Conclusion: I cannot see how this EA can be profitable.
It’s all in the title really “pips 4 idiots”. I guess I was an idiot again.
I am very greatful for the comments. It seems that the forex industry breeds con men. I was stung by The Forex World Cup and was unably to get my $1000 back. I was going to have a pop at pips4idiots and was about to complete payment details when I thought I would research them on the web. Once again my thanks.
Agree with an earlier poster about the free indicator they offered prior to EA’s release. It seems to simply paint bull candles green and bear candles red. Great indicator huh? This was the main reason I decided not to purchase the EA. Also, if you look at the trade history now on their site, there are no trades since the 3rd of Dec. Once the EA became available for purchase, no more results.
Paid for everything from pips4idiots, then stupidly did the search as i was pulled in by the hurry before it closes its doors sales patter, anyway tried to get a refund as i had not downloaded anything, everytime i request a refund they open the ticket back up again, have now left it to paypal to sort out!!
Proper dodgy is all i would say!!
I’m still trying to get my money back. Keep getting the runaround from their Support Desk but I will persist 🙂
I will wait for the refund to appear in my bank account 🙂
CUSTOMER: CREATED: 2010-12-07 03:11:38 AM
The product does not work and there are now warnings that this is simply a SCAM
product. In accordance with the website http://www.pips4idiots.com/ it states if
I am not happy with my purchase I am entitled to a refund. Can you please
process this as soon as possible please.
———-
VENDOR: CHANGED: 2010-12-07 11:47:50 PM
Changed from Refund to Tech Support
Hi,
Please let me know the reason you are not satisfied with Pips 4 Idiots robot.
You can join the hundreds of traders that achieve high returns and continuous
account growth if you let me assist you with solving any technical difficulties
you may have encountered or answer any question you have.
Please note that the robot is not a scalper, therefore it should not trade
every day or open multiple trades every day. If Pips 4 Idiots has not traded on
your account for several days please follow these steps:
1. Not all brokers allow using Expert Advisors by default. Make sure your
broker allows using robots on your account, especially if this is the first time
you use robots on this account.
2. Change the magic number on Pips 4 Idiots’ settings (inputs tab) on each
chart you’ve attached it to, if you attached Pips 4 Idiots to multiple charts.
3. The ?Expert Advisors? button on the tools menu should be pressed and you
should see a smiley face on the top right hand side of Metadrader.
4. Go to tools, choose options, click the Expert Advisors tab and make sure to
tick the four main boxes as illustrated on the user manual. This time, you can
uncheck the secondary boxes.
5. Change the ECN broker setting to true if you trade with an ECN (5 digit
broker).
If you followed the above steps and Pips 4 Idiots has not opened trades on your
account within a few days, please reply to this message.
———-
CUSTOMER: CHANGED: 2010-12-08 11:46:49 AM
Changed from Tech Support to Refund
I want a refund processing now please. This company gave some advice which I
have double checked and the product is still not working and nor has made a
single trade as it is supposed to do. Furthermore, Pips 4 Idiots changed the
ticket type from Refund to Technical Support and then they closed the ticket
without informing me of this and I had to update this closed ticket with 2
further emails I have sent their Support Desk regarding the matter. Enough is
enough, please refund the monies without further delay. Many thanks.
———-
CUSTOMER: COMMENTED: 2010-12-09 12:10:08 AM
Please advise when I can expect my refund as I have not had an update since
updating this ticket 10 hours ago. Thanks Lee
———-
CBSYSTEM: CLOSED: 2010-12-09 11:47:10 AM
Transaction Refunded
Yes I do believe it is a scam. I am also an EA programmer and have reviewed the source code that has been posted. There is no custom or proprietary strategy, only very simple and common use of basic technical indicators. Any robot that relies solely on lagging indicators is doomed to failure.
It also looks like this EA is just a copy of the ForexSTF EA at http://www.forexstf.com . Just compare the websites for yourself. There is some identical wording and graphics on both sites. And even the videos show what looks like to be the same or a very similar robot, even down to the 1min time frame.
What concerns me as a new owner of Forex Megadroid is that the Megadroid guys are actively promoting this piece of crap. What does that say about the Megadroid team? Do they know it’s being sold under different names? And who is the author of the software? Joe Simpson—“Software Engineer Consultant” and “Forex Tech support guy” that “knew next to nothing about the FX market” (Pips 4 Idiots) or Jim Stanford—“retired math teacher” who stumbled upon “Genetic Algorithms” (ForexSTF)?
We got to be very careful about this promising EAs advertised lately, I want to thank all the people for your reviews that helps me made my mind… On the other hand does anybody have feedback on Forex IronBot EA ?
Thanks !
I started using Pips 4 Idiots on December 7, 2010, using 1.0 lots. In 7 days I had 10 trades, with 6 wins and 4 losses, for a net gain of $1093.23. That doesn’t sound like a scam to me.
I got nervous when my last trade was down over $1000, but I let it ride and it recovered, with a nice $488 profit. It seems to take wild swings, but it can recover.
this e mail was sent to Joe to explain few trades:
i need you to explain to me two trades that is listed on your website, i copied these trades from your site and i am attaching it to this e mail and also see portion of it below.
first i see that your broker is ibfx that what your deposit at the begining of the page reflects.
the first trade is the one that you did on 12/3/10 at 08:49 sell /50 EURUSD AT 1.32374 and closed at 1.32213 at 08:54 (161 pips) how can this trade take place???
i have an account with the same broker i went back to the chart and i see that at 08:49 the eurusd was at 1.32374 BUT AT 08:54 NO WAY THE EURUSD IS AT
WHAT YOU HAVE 1.3213 IT IS IMPOSSIBLE, THE EURUSD AT THAT TIME THE LOW WAS 1.32329 THAT IS 116 PIPS DIFF.
The second trade is at 12:49 sell eurud at 1.33335 closed at 12:54 at 1.32700 this is a big SCAM , looking at the chart the EURUSD AT 12:54 WAS LOW AT 1.33305
THAT HUGE DIFFERENT (605 PIPS).
THESE ARE ONLY TWO TRADES THAT I LOOKED AT AND THEY ARE MADE UP TRADES ON YOUR PART HOW CAN YOU EXPLAIN THIS?
I WILL BE WAITING FOR YOUR ANSWER VERY SOON BEFORE I POST THIS ON THE INTERNET AND E MAIL IT TO EVERY FOREX WEBSITE REVIEW AND I WILL BE
E MAIL THIS TO FAPTURBO ALSO.
BASED ON THESE TWO TRADES ONLY I CAN TELL YOU THAT YOU ARE SCAMNG PEOPLE
2010.12.03 08:49:00 sell 0.50 EURUSD 1.32374 0.00000 0.00000 2010.12.03 08:54:00 1.32213 0.00 0.00 0.00 69.50
2010.12.03 13:49:00 sell 0.50 EURUSD 1.33335 0.00000 0.00000 2010.12.03 13:54:00 1.32700 0.00 0.00 0.00 306.50
2010.12.03 14:49:00 sell 0.50 EURUSD 1.33653 0.00000 0.00000 2010.12.03 14:54:00 1.33469 0.00 0.00 0.00 81.00
0.00 0.00 0.00 20 566.00
Closed P/L: 20 566.00
Open Trades:
Ticket Open Time Type Size Item Price S / L T / P Price Commission Taxes Swap Profit
No transactions
0.00 0.00 0.00 0.00
Floating P/L: 0.00
Working Orders:
Ticket Open Time Type Size Item Price S / L T / P Market Price
No transactions
Summary:
Deposit/Withdrawal: 1 000.00 Credit Facility: 0.00
Closed Trade P/L: 20 566.00 Floating P/L: 0.00 Margin: 0.00
Balance: 21 566.00 Equity: 21 566.00 Free Margin: 21 566.00
Charley,
How could you have had losers???
At a 500 pip stop loss, with the same loss size, you losses would be (for ease of example)
6 wins= 20×6= 120 pips.
4 losses= 500×4 = 2000 pips.
Therefore your account woudl be showing -1880 pips, so how are you in profit?
I changed mine to a risk of 5% with a stop of 100, and have tried it on 500, 35 all sorts, and it all ends up with a loss on the account.
I bought pips4idiot and had to manage 1 single trade that hang for 4-5 days. If I did not managed that trade, it will never exit and not even managed to win the 20miserable pips it was set at. Their live statements all got many pips win, but the EA settings is for 20pips and I was told by customer support never adjust this parameter. What a load of crap
I even bought the Pips4Idiots advanced (1 of the their upsells) and this robot never had 1 trade after almost 14days. They also upsell “Adjustments” at a 1-time cost, but they sent u new adjustments EVERY month!!!
I asked customer support, if new adjustments every mth, cannot do Live testing, coz the moment that mth is over, it is another “EA” adjustments?! If they performed back-testing, then how do we as customers know the back-test can be relied upon coz they can tweak the EA to perform well on back-test?!
I also noticed if u calculate every transaction, esp those with USD base currency, eg, EURUSD, GBPUSD. Since they used standard acts this meant that 1 pip=USD10/-. Since this is live statements from IBFX (I also used this broker), then the open price is price at which transaction was opened, and closed price is what it meant. You get the difference between open and closed prices multiply by USD10 multiply by lot size=P/L amt. But EVERY single transaction that Pips4Idiots showed had WRONG p/l amt (I am talking abt those with USD base currency transactions, since those that are not usd base, is not USD10/pip)
I emailed abt this and customer support told me, slippage and spreads not included into statements. FYI, I used IBFX, so they really take us as idiots??? LIVE statements will NEVER showed the slippage or spreads, it just showed the actual open and closed prices (slippages, etc included). Thus P/l will tally. Customer support then say, will upload new Live statement into the site that will include slippage/spreads.
You mean, 1st upload is wrong, then now upload with “correction”?? How do you upload a Live statement to include slippage and spreads??? Very ridiculous, coz anyone used MT4 live statements all know that closed prices ALREADY included slippage and spreads. If there were commission and rollover, these are reflected on other columns within the MT4 live statements and YES! the p/l amt is net of all these.
SO it leave me to conclude that the live statement uploaded maybe via Excel, so they download some sort of Demo statement, do magical eraser work, upload this and used this to promote as Live. Now to include “slippages and soreads” they download again, used eraser technique to “include” slippages and spreads, then re-upload???
CONCLUSION: SCAM LIVE Statement. I will only at least be more comfortable with this product as they give you investor password. U can download statements, check yourself, check the trades etc
PS: Clickbank 60days refund policy. Beware of this as if u really used the product 60days is over and done deal. Best to use the product abt 50days so clickbank can do refund processing.
Anyone used Pips4idiots and got any results???
========================================
I am asking for refund from clickbank and taking this EA off my charts.
I use the EA for one week now. It began trading after one day of doing nothing. By now it made a couple of trades, more losing than winning ones unfortunately. I don’t understand why it’s not closing the winning positions!? I’ll let it run some more days on demo and then probably will ask my money back. By the way: I changed s/l to 50. I’m still figuring out the best settings. I also will have to minimize the number of trades at the same time because there are a lot of open positions.
The free indicator worked well. But I don’t have the time to watch the chart all day long therefore I got the EA.
I bought and installed the PIPS4IDIOTS EAs [there were two versions provided] on my mature, well supported VPS on two different brokers. Both brokers one a 5-digit and one a 4-digit broker on which I have tested many EAs over many months. Let me explain that I maintain a year-a-round VPS account with very clean installations of various brokers MT4 software for running live and test EAs. I have personally tested for my own purposes about 20+ EAs over the last 20 months.
Ok very simple these EA’s are flawed and do not perform out of the box anywhere near what the seller claims and in fact I can testify total failure. Seems the developers are total novices and did not test their super-duper EA properly. The EAs do not place any trades either of my test brokers after over two weeks. They keep generating ERROR 132 which from my research means the EAs have inadequate to non-existent explanations of how to resolve this probem. It seems it is a problem with ‘assumed’ minimum lot sizes.
My take is not nice. This absolute indication of amateur coding. I am not wasting any more time for the simple reason the publisher provided no warning of this problem nor resolution on their website which shows me they did very little testing. How does that make you feel about risking 5K on a live account. LOOSERS!
Disclaimer: I generate no income from selling or endorsing products for the forex market. It is a hobby for me.
Everyone,
These are all brothers. Look at this EA name.
Lucky I didnt buy it. But I did buy their other product, TPS which looks nothing different to me after 2 weeks of use.
I think this EA might work if you let it start the trade, then you close it manually. Take a VERY close look at the video highest up on the page, of the promotion page. Look closely, EVERY TRADE he had the SL set at 12 and the TP set at 50. You’ll notice most trades were closed at around 10 to 35 TP, which means they were closed manually. Very few were red or green — did not hit the SL or TP. On a 1000 demo account, this thing made about 20-40 bucks per day, all winning trades (6 or so in a row), for about 3 days, before hanging up for 3 days on one trade, so I closed it manually.
Not liking the high stoploss/risk, I did an experiment starting last Tuesday. — One account running in full auto, another set to the specs of the account in the top video on the promotion page, with me closing them manually. Both accounts started a trade at the same time, but on the manual account I closed the trade for a profit and it restarted a new trade instantly which I closed for a profit. I closed 4 winning trades during the time the auto account was still in the same trade! This success continued, made like 10 bucks in one day on a 200 dollar demo! No comparison, auto account got it’s but kicked, and with much more risk. Like 10 trades were initiated on Tuesday for the manual account, it just kept opening new trades when I closed them. But then no trades on Wednesday, TH, FR, Su night. Huhm? So early Monday I opened a new 200 dollar account. Still no trades.
You’ll also notice that all the accounts/screen-shots/videos below the top video–(which showed 12 SL and 50 TP) have the SL and TP showing 0.00 (hidden).
Seems to me after reading the reviews of quite a few of the robots out there that you would have to be desperate to buy one. I think this is an excellent site and would like to thank admin, I searched for a while trying to find something that gave genuine blogs from real people and I finally found it here. So you make a bit on the side well good on you at least someones making money and at the same time providing a useful service.
just bought this rubbish which is a perfect scam DON T EVER BUY IT ..Happy new year still
Hie Guys
So we were sucked into pips4idiots. I bought this and have claimed for a refund after an issue with stop loss 500 and 200 for the advanced. pips4idiots unleashed comes to you without instructions how to trade it.Both the robots have similar settings except for the stop loss. These guys claim the stop losses are there to cheat the broker otherwise the robots use variable stop losses. Now guys this is your money on the line, how do you know they are telling the truth when they do not share the code with you.
Now I dont want to risk my money that way so I hve claimed a refund
Now i am looking elsewhere and took a read on some legendary traders those who are still with us. These are the guys we should look for and avoid all this hype. I looked up Don Steintz and I advise you guys to go and have good look. just google him. I emailed him and got a responds in 5 ninutes flat. Yes the man is still trading but the good news is that he has several courses and robots am i am sure you will find some that suit you
I you will all steer away from these scams
Obed
I am a fund manager. I tested this on demo only and have had 22 wins out of 22 trades and that is enough proof for me. So while you guys are debating the high sl and whether you should get a refund, its making money on my client accounts. I’ve no idea what the big bitch is all about!
Good point Mark. And if the stoploss was low it would hit it all the time.- Often in forex even winning trades have to go up and down before they “win”. In trying some EAs I’ve found that “making the right decision of when to trade” is FAR FAR more important than the SL setting. A conservative SL is no good if you have a piece of crap that makes lousy decisions. I had turbopipsniper with a low SL and it made BAD decisions and hit it all the time, it would sell when even a rookie trader (like me) could see an upward trend, etc. It made a trade at a clock time of 00:00, EVERY DAY. It clearly was trading randomly (or at specific programmed times) and not looking at the market at all. No doubt this pips4idiots looks at the market, I’ve had like 7 trades in one day that were all winners, then no trades for a few days.
Bought the EA early December and on downloading it and being taken to their Members Only page I realised it was a scam. Up-sells and monthly subscriptions to get what this Joe Simpson character promised on the original web site. When are these people going to be drummed out of the FX business? Now I will always ask for live access to an account before buying another EA. I asked for a refund because ClickBank is good and even so he evaded giving me a refund straightway by constantly turning the Refund request into a Technical Support ticket – even when I said that I didn’t want support and demanded a refund. Press hard if you are in this position – call ClickBank and explain – they are very good. Stay clear of this EA and the person aledging to be Joe Simpson – just look at all the comments on this site and ForexPeaceArmy – and then there’s one or two ‘good ones’ – yeah right. Since buying the EA I’ve had several hard sell emails from this jerk – marketing yet more EA’s. He’s a fraudster and now on my radar – I’ll report back my findings.
I just did an experiment that after 3 days in is working incredible to achieve my objective–> Around 6 trades per day completed. Ever notice how many times trades (with any EA, or manual trading) almost hit the Take Profit then dip down and don’t come back forever?? I reset the 20/500 TP/SL on this EA to 10/250. The next part of the experiment was to trade 6 currencies with 1/6th the lot/risk size (not all the eggs in one basket). One of the reasons for this was — if one trade gets hung up for days, you still have 5 other currencies that could make a trade. The result has been 16 trades since Monday morning, all winners, and Wednesday is not yet done–2 more trades have just started! I am trading the GBP EUR USD JPY amongst each other, for a total of 6 pairs.
“I am a fund manager. I tested this on demo only and have had 22 wins out of 22 trades and that is enough proof for me. So while you guys are debating the high sl and whether you should get a refund, its making money on my client accounts. I’ve no idea what the big bitch is all about!”
A Fund Manager using a $97 (unproven) EA on client accounts. How many billions do you manage there, bro’? As a fund manager, I’ll bet you have that EA set to trade for $1000 per pip or so. Wow !! (remind me to never hire a “fund manager”)
I installed and tried to rest the product from the website. I have a dedicated VPS account and have not only purchased and tested around two dozen EAs I have also done some EA programming. This product never placed a single trade nor created any useable or credible error messages to debug the problem. I repeated installed and reinstalled the product on three different brokers. the only error message I could find was not documented or explained on the company website. I am not in the business of debugging other programmers products. I get paid to program for a living.
UPon trying to get a refund from CLICKBANK and PIPS4IDIOTS both companies started to give me the runaround. Even after repeatedly responding with the company advertised promise of satisfaction guaranteed.:
Changed from Tech Support to Refund
I purchased the product under the following promise:
——————————————————
I also know that since you’re
selling this software through ClickBank… the world’s leading distributor of online
purchases… my satisfaction is 100% guaranteed.
In fact… once I purchase your software… I’ve got a whole sixty days to try it
out.
If at ANY time during that period I’m not sucking money out of the market faster
than greased lightning… all I have to do in order to receive a full refund is send you a
quick email.’
————————–
I am not satisfied the product never placed any trades and yet did not register documented errors
in the journal. I AM REQUESTING A REFUND PER THE OFFER.
I suggest to everyone who wasted their time with this product to start requesting a refund early as it appears the CLICKBANK and PIPS4IDIOTS are trying to stall on my refund request to hit the 60 day period. I am now on my third refund request with no success.
After trying this PIPS 4 IDIOTS for more than 1 month.. I have decided to seek for refund on Jan 18, 2011.. Yet, just like many people on this forum, the vendor is trying to change my REFUND process into TECH SUPPORT…
That is what happened with me today…But I know I could rely on CLICKBANK so I directly CHAT LIVE with Clickbank Customer support on clickbank.com/orderDetail.htm … They are very FRIENDLY and HELPFULL which I give them 5 STAR for their TOP NOTCH Customer Support
I told them what happened refer to this vendor behaviour and RIGHT AWAY, the Customer Support process my REFUND and block the Vendor for any possibilities to change my REFUND process into TECH SUPPORT…
By the time I wrote this comment…I just received email from CLICKBANK that my REFUND has been approved so just wait to have my money back on my Credit Card and I am SURE that will arrive soon…
So for any of the users who has been SCAM by many of EA VENDORS out there… Please note before you purchase to BUY EA only from CLICKBANK and IF the VENDOR does not use CLICKBANK… PLEASE DO NOT BUY BEFORE YOU READ POSITIVE COMMENTS FROM THIS FORUM OR FOREX PEACE ARMY…
Better Late than being SCAMMED…Take care!!!
Some of you need THE VERY IMPORTANT HARD TO FIND CLICKBANK PHONE NUMBER –> 800-390-6035. It took hard research to get that, 1000s and 1000s of people on forums said you could never find that phone number. A month ago I filed online for a refund from turbopipsniper. I then found clickbank’s number and called them that same day. They were actually very nice professional on the phone. They said my Internet request was already in their records, and I’d have the refund in 24 hours. I actually got it. But had I not called it I wonder if that woulda happened?? Because if you read the turbopipsniper forum, many users are getting the run around and sent to tech support over refunds. Maybe clickbank figures – if you went thru hell to get their number, then you will be “one of the few” who they refund with no questions asked, or even asking the vender to talk to you first. The key is to go directly to clickbank, not to the vender, and by direct I mean CALL THEM. If a refund is needed, I hope the phone number helps you like it helped me.
i had no luck with pip4idiots, found i got stoped out too often, it may have worked for others, but for me ive found success with other more well known robots.
I just had a $200 dollar demo account go to $237 starting early TH till the end of Friday. But it’s early yet with these new settings/currencies. And because I’ve tried this for a month with only a very small profit at best, I was about to give up on it until just recently.
This did not work too good in the beginning, but after tweaking/experimenting with many settings/scenarios, I feel I can’t make it any better. So I started the account over TH morning, time to let it work now for a month.
The 200 to 237 account was the standard version, the advanced is actually only trading about 1/4th the trades with the same settings. But the standard has been on for weeks, the advanced was just turned on TH, maybe it needs time to start trading more. I’ll know in a month if it catches up to the standard version. The balance on the advanced went from 200 to 209 from the start of TH to the end of Friday, hardly as good as the standard going from 200 to 237.
MANY PEOPLE ARE SAYING ALL OVER THE NET AND HERE THAT THEY GET NO TRADES FOR A WEEK, THEN ASK FOR A REFUND. I believe them. I’ve sometimes had two currencies not trade for 8 days, while my other 4 traded many times per day. So if you trade just one currency, you may have no trades for over a week. Because of that one week downtime sometimes, I figured trading multiple currencies was the way to get trades daily. I watched the video at the top of the promotion page, and took note of the currencies he traded, and tried it. I’ve had as many as 20 trades in a day this way.
FOR THOSE HAVING NO TRADES, OR NOT MANY TRADES, FEEL FREE TO GIVE THESE SETTINGS/CURRENCIES A SHOT.
Trade these 6 currencies
EUR/USD
EUR/JPY
EUR/GBP
GBP/USD
GBP/JPY
USD/JPY
Take Profit 10
Stoploss 200
Percent risk 10
The above is on the account that went from 200 to 237 using the standard EA.
Update to last post. I’ve upped the stoploss to 300 and risk to 15%. Getting about 20-50 trades per week on the 6 currencies with the Standard version.
Since this new adjustment I now have 55 winning trades in a row. Prior to this, things were going fine with the 200 SL until two trade losses (2 currencies that parallel each other) in the same day knocked out 40 trades/profits–put me back to my original balance. I think the two trades hitting the 200 SL was a rare occurrence in a bad market, because since then after 55 trades, I’ve only had one trade go down to around 200 while all the others never went past 100. My new 300 SL settings even survived the Egypt Crisis that fooled a lot of EAs including my Leo Trader Pro which lost a Eur/Usd trade–hit the 330 SL because of the Egypt thing. My pips4idiots took that same trade at a better entry point, it got down to around 200 but survived not hitting my 300 SL.
Because of my first problems/losses on a demo account, and all the undeserved bad internet reviews, I am not yet using real money, but wished I had. —- I’m about ready too if I can have success for another 2 weeks or so. I have been using real money on Leo Trader Pro, and truthfully this may be better, especially if LTP does not come out with more currencies to trade when I can trade many with this. With 6 currencies you only need 1/6th the profit per currency, and to use 1/6th the lot risk, as with just one currency. Also, a loss would only be 1/6th the size of a normal loss, and it’s even less if you lower the SL too 300 from 500.
I have tried unsuccessfully for 3 months to get the refund that was promised by pips4idiots, but so far I have had one e-mail asking what problems I was finding with the product. I replied that I had wiped out 5 demo accounts in a matter of days and that I was not interested in negotiating with them, but only wanted my money back. So far not a word or more importantly, no money back!
Kelvin, I could not get a refund for turbo pip sniper, but when I called clickbank I got a live person instantly, had the refund in my account within 2 days. 800-390-6035
I bought pips4idiots at launch. It lost me money in the first two weeks, so I asked for a full refund. They stopped responding to my emails. I raised a dispute with my bank which has now been upturned in favor of pips4idiots.
A terrible product. Total waste of money.
Hello yALL,
This EA trades any currency pair, which may be valuable and compensate for lack of trades, or failing currency pairs that need to be exchanged for a better one. If you run 12 currency pairs instead of 6, then you can cut your lot/risk size in half with the same profits. It’s like dropping one cylinder on a 6cyl engine, you lose 1/6th your power/profit, but with 12 trades it’s only 1/12th the loss on a trade loss.
I have just put all 31 currency pairs that are available from IBFX, on a demo. After one month, a few unexpected pairs are doing well enough I’ve moved them over to real money accounts. The EUR/CAD had the most trades in one month, 39, all winners. So I’ve moved the EUR/CAD AUD/USD AUD/CAD over to real money. And I’m still running the EUR/USD GBP/USD EUR/GBP that I started with months ago. There are a few others that are looking like they might do well, the NZD/USD is one, and maybe even the USD/MXN.
Currency pairs that haven’t done well, are pretty much anything with JPY or CHF in it. Those pairs have destroyed the reputation of any EA I’m aware of, in which a user trades just those pairs on an EA. They haven’t been doing well on any EA I’ve seen (so don’t blame your EA if you trade JPY or CHF). Since December I’ve had like 15 losses (500 pips on each loss), and 13 of them were pairs with CHF or JPY in them. Those pairs should probably be traded manually, and not with an EA.
Also, my test results show that for whatever reason, the standard EA is better than the advanced. The advanced only barely breaks even if you’re lucky. In my tests (for months with multiple currencies) the advanced traded about half the trades of the standard, and if the standard was losing a trade say every 100 trades, then the advanced was losing a trade every 50 trades. Less trades, and a loss occurring half as often.
Renegade said: A Fund Manager using a $97 (unproven) EA on client accounts. How many billions do you manage there, bro’? As a fund manager, I’ll bet you have that EA set to trade for $1000 per pip or so. Wow !! (remind me to never hire a “fund manager”)
A good fund manager will know which days are optimum to trade and when to stay out even with little cheapo EA’s. An EA when optimize can give some pretty accurate signals to trade. The keywords here are “signals” & “optimum trading days”
If you do not understand the market it’s time to go back to the basics of trading and learn it from the ground up.
Happy Trading everyone. 🙂
Hi,
It’s a real shame but i’m one of those idiots who got scammed. I can’t even put my real name so that none of my friends see this but this should be the scam of the decade in forex robots.
DO NOT BUY THIS ROBOT.