Forex Pip Shooter is a trading system that uses the pip shooter technology in trading. As per the vendor, the EA single-handedly gets rid of all hurdles in the market to transform your trading experience. It is also able to trade dynamically through its “pip accumulation” approach that adjusts to the needs of traders and their degree of risk.
The identity and the whereabouts of the developers of this robot are unknown. They don’t provide their background info in the presentation. Vendor transparency is usually recommended so as to boost confidence in the product being promoted.
Forex Pip Shooter at a glance
|Currency pairs||AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, EURUSD, GBPAUD, and many more|
|Strategy||Advanced analysis technology, Pip shooter technology, and Average execution technology|
|Recommended leverage||High leverage|
Forex Pip Shooter functionality
The other features of the robot as highlighted by the vendor include:
- The system has an average execution speed.
- It offers 24/7 rapid support.
- It is fully automated.
- The EA is simple to use.
- It comes with free updates.
- The supported brokers include Key To Markets, TopFX, Klimex, and TrioMarkets.
Forex Pip Shooter trading strategy and tests
The EA uses several trading strategies. Its advanced analysis technology approach is utilized in implementing lucrative operations in a systematic manner. As such, the algorithm seeks to make profits from the market trend while using well-regulated trading parameters to secure the trader’s profits.
Next, we have the pip shooter technology strategy that monitors the market to spot trend inversions. Once it does, it identifies a trading opportunity and controls the trading parameters dynamically to maximize the profit potential of every trade.
Then we have the average execution speed strategy that takes advantage of the small spread operations that are implemented with speed and accuracy. Through this approach, the system is able to regulate the trading parameters quickly so that they can adapt to the most volatile markets.
The devs also mention that the system uses the breakout, spread trading, and hedging strategies, though they don’t provide more details on how each one works.
Backtesting results are not provided. This test usually enables developers to validate their strategies on past trading data and different market conditions. Furthermore, they can get the analytics on how the trading method worked in the market before asking the public to invest in it.
Forex Pip Shooter real trading results
Here we have a real EUR account hosted by IG Markets. The robot has been trading on it since December 2020 using a deposit of €1001.06. To date, a profit of €242.44 has been realized, consequently growing the account by 26.97%. The daily (0.05%) and monthly profits (1.63%) are rather low. We now have a total balance of €1162.58 in the account and a low drawdown of 9.34%.
Only 162 trades have been conducted so far, given that the system can hold trades for 5 days on average. The system also loses more than it wins, as illustrated by a higher average loss (-59.24 pips) compared to the average win (49.95 pips). As of now, the long and short positions won are 75% and 71%, respectively.
The lots traded are not indicated. We can see that several profits have been made, but they are small. Losses have been incurred as well.
The profits made increased consistently between March and July 2021. However, the performance of the system declined sharply towards the end of the year.
Forex Pip Shooter doesn’t have customer reviews on its official website or in any of the verified reviewed sites like Myfxbook, Trustpilot, or even Forex Peace Army.
Forex Pip Shooter Review SummaryForex Pip Shooter
Functionality4/5 GoodThe EA includes a wide range of features that are beneficial to users.
Trading strategy3/5 NeutralWe have learned that the EA’s trading strategies are safe since they generate a low drawdown in a trading account.
Live Results3/5 NeutralThe system’s live results are available on Myfxbook, and the trading outcomes show an average performance.
Customer Support3/5 NeutralThe vendor provides several customer support options, including email and FAQs.
- Low drawdown
- Multiple currency support
- Live trading stats are present
- Backtest results are unavailable
- Lacks customer feedback
- Low return rate
- Zero vendor transparency