Forex Pip Shooter is described as one of the most secure EAs around. The system uses what the vendor terms as a “pip accumulation” approach that enables it to trade dynamically. It can also adapt to the needs of the trader and to the degree of risk presented in the market anytime. Moreover, it works with the following currencies; CHF, CAD, USD, AUD, EUR, JPY, GBP, and NZD, and their crosses generate 28 Forex pairs.
The authors of Forex Pip Shooter are mysterious. Despite the sales pitch providing lots of info about the robot’s features and how it works, none talks about the devs. This lack of transparency is odd and may not sit well with traders who usually want to work with well-known vendors.
Features
The features of the EA are:
- It’s fully automated.
- The vendor has programmed it to carry out a very advanced technical analysis automatically.
- The system works with these brokers; TopFX, Klimex, Key To Markets, and TrioMarkets.
- It runs on the MT4 trading platform.
- The robot can work on any timeframe.
- You are advised to use a minimum of $1000 for real accounts.
- It’s simple to use.
- The expert advisor opens positions daily, so it’s important to always leave the PC/VPS on.
How to start trading with Forex Pip Shooter
You can purchase this robot at €800 and get the chance to trade 1 live account or 1 demo account with it. The package includes free updates, 24/7 customer support, but a money-back guarantee is not available. By ordering this system, you will also obtain access to the reserved area that offers guidance on its installation, setting, and activation.
Forex Pip Shooter works with more than one trading method. As per the vendor, the EA utilizes its advanced analysis technology strategy to implement lucrative operations methodically. It attempts to make profits from the market trend through well-regulated trading parameters. No more details are given about this approach, though.
Another method is the Pip Shooter Technology that is used to monitor the market for prospective trend inversions. It then spots a trading opportunity and regulates the trading parameters dynamically to optimize profits from every trade.
Lastly, we have the average execution speed approach that capitalizes on small spread operations implemented with precision and speed. As such, the EA works fast to control the trading parameters to also adjust to the most volatile markets.
Backtests
The presentation for this robot lacks backtest results. This data is key to obtaining a deeper understanding of how the trading system works and estimating its prospective profits and losses based on historical data.
Verified trading results of Forex Pip Shooter
The above chart shows us that the account was deployed in December 2020 and deposited at €1001.06. Forex Pip Shooter has only earned an income of €231.97 for the account so far, thanks to the low monthly profitability rate (1.61%). Fortunately, the robot trades with low risks to the balance, as illustrated by the small drawdown that is still less than 10%. The owner has withdrawn €77.58 from the account. A total gain of 25.73% is reported.
Only 158 trades have been executed in over a year of trading. The best trade has made a profit of $19.35, while the worst one has caused the account to lose -$13. There’s a profit factor of 2.29, and the average win and average loss are 49.78 pips and -59.38 pips, respectively. Evidently, the EA is prone to losses. Data on the lots traded is locked.
Many trades are carried out in the morning, particularly between 7 a.m. and 10 a.m.
The monthly gains for 2021 were really small. The highest profitability rate (3.8%) was recorded in July. Since then, the robot’s performance has been deteriorating.
Customer reviews
The EA has zero people feedback. Therefore, we cannot tell if traders are happy with it or not.
Is Forex Pip Shooter a viable option?
Advantages
- Applies safe trading
- Live trading stats are provided
Disadvantages
- Low return rate
- The vendor is not introduced
- No customer reviews
- Backtest results are unavailable
Wrapping up
Forex Pip Shooter has managed a live account on Myfxbook for over a year and has kept the drawdown low so far, a sign that it trades safely. Unfortunately, the system grows a trading account slowly, and this is due to its low profitability rate. The vendor is also unknown, and with no customer feedback, we cannot determine how the system performs on the other trading accounts.
