Forex Pip Shooter is a robot that is compatible with the MT4 trading platform. It is a fully-automated system that works on the basis of the Pip Shooter technology. You can use this system to trade in 28 different currency pairs.
We don’t know anything about the parent company behind this EA. The vendor has not shared any background information on the developers. We don’t know when the team was founded or where it is based. Also, there is no information on the other systems developed by this team.
Forex Pip Shooter strategies and tests
This EA merges various trading styles to generate stable gains and minimize the risk. It is compatible with pairs involving currencies like AUD, USD, CAD, EUR, CHF, GBP, JPY, and NZD. You don’t need to conduct any analysis or manage the operations.
The EA scans the market 24/7, opening and closing positions based on daily profit opportunities. It follows a strategy that generates small pips at a time, several times a day. Using the pip accumulation approach, it adjusts to the requirements of the traders and to the risk level that changes based on market conditions.
Some of the strategies used by this robot include hedging, breakout, and spread trading. The robot executes dozens of calculations every minute and analyzes several market conditions. It adjusts the trading positions to enhance your profits. You don’t need to manually calculate the stop loss, trends, and take profits.
The EA looks for trend inversions and regulates the trading parameters after finding an opportunity. It has an average execution speed and tries to take advantage of the small spread operations. After downloading the EA, you should load it on a EUR/USD chart for any timeframe.
The vendor advises using at least $1000 for real accounts and maintaining a 1:1 ratio between the deposit and the investment size. So for $1000, the lot size should be 0.01. It is recommended that you test the system using a demo account first. You need to run this system continuously on your PC or VPS.
This EA has an existing partnership with the Key To Markets broker. According to the vendor, this allows the system to generate the highest possible profits. Other broker partners include TrioMarkets, Klimex, and TopFX.
Unfortunately, the vendor has not shared the backtesting results for this expert advisor. Thus, we don’t have any idea about the long-term performance of this system. Also, we cannot compare the historical performance with the live statistics.
Forex Pip Shooter live trading account review
This trading account on Myfxbook was launched on December 09, 2020. After conducting 160 trades, its profitability currently stands at 73%. However, the total profit is only 235.92 Euros. Currently, the daily and monthly gains are 0.05% and 1.60%, respectively. The drawdown is only 9.34%, which tells us that the robot trades with low risk. This account has a profit factor of 2.29 and a time-weighted return of 26.23%.
Here you can see the recent trades placed through this account. The robot generates small profits from each trade and is prone to suffering consecutive losses. It usually holds its positions for several days. The average win and loss are 50.16 pips/€3.84 and -59.24 pips/-€4.56, respectively.
The current price of this EA is 800 Euros. This makes it more expensive compared to other Forex trading systems. Also, there is no mention of a money-back guarantee offer.
Is Forex Pip Shooter a good system to rely on?
We don’t have the historical test results for this expert advisor. There is zero information on the parent company and the vendor does not offer a money-back guarantee. You need to dish out a large sum of money to purchase this EA. Also, it follows a low-profit strategy, so it can take a long time before you accumulate a sizable profit. At this moment, there are no user reviews for this robot on the web.
There is no contact information shared on the official website. If you require support, you can consult the FAQ section or send a message to the support team through the contact form.