Finally, PipJet is what I’ve been waiting 3 years for! “Why?” you may ask. Well it’s the next cab of the rank from the team at Forex MegaDroid (my No.1 ranked EA). They have spent the past 3 years looking at trends in the market to come up with the PipJet. At the end of the day as with most EA’s it will be a gamble to start with, until it’s been tested fully. I just hope they don’t do a FAPTurbo on us and come out with a position sizing (martingale-esk) type EA, like Forex BulletProof, that leaves you with high risk and slow moving profit. Update 22 July 2012:The Megadroid team have released more information on PipJet:
- Trades USDCAD currency pair
- Most likely 5 minute timeframe
- Most likely Asian session
- Download the full report by clicking the Visit Site button below
- I’ll be putting the Lab Test for the PipJet review on MT4i here
- Only trades if the price is in a strong range
- Waits until US session finishes
- Uses RSI, CCI, Hull MA and Andrew’s Pitchfork indicators to work out if the US session was ranging
- If it was trending then it looks at how strong the trend was, was it 3 days long, or if it was a US session only trend, or was the trend following news
- If any of the following scenario’s is true then the trade is postponed until the next day:
- Trend stronger than upper threshold, trend is stronger than the median threshold or the move exceeds the dynamically calculated pip limit
- If the above is met, then the trade entry setup can begin
- Waits until 21:00 UTC
- Measures tick volume from 21:01 UTC
- It then waits until both the following take place: Average tick volume for the last 15 minutes is at least 30% of the ave. tick volume of the US session and ave spread over the the last 15 minutes is 3.3 pips or less
- Determines the price channel presence by making sure 60% of the last 30 1 minute timeframe bars fall within a 30 pip range. This happens after the above has been satisfied.
- Determines the price channel is safe and reliable to establish that the price will not move greater than 30% from the range within the next 4 hours. This is done by using two tools designed by the PipJet team and the 1 minute close method indicator.
- Trades have an 18 hour maximum (which is rarely met)
I’ll have this in the lab ASAP, when I get my copy. For more detail at this stage, please use the button below…
Currently running PipJet on a Hot Forex account testing started on 26th June 2012. Current results are as follows:
| Current Floating Profit ($) | Total Balance ($) | |||
| 0.00 | 3903.45 | |||
| View our PipJet EA Demo Test Statement | ||||
Lab Result:
Update 19th July 2012:
- Upgraded to version 1.01
Update 31st July 2012:
- Upgraded to version 1.02
Looks very interesting. I still never got Megadroid but I know they are a top EA supplier. Looks like this could be a great opportunity to see what they have been doing with their 44,000 users cash.
Hi Cam, this looks like a very good EA, but do you need VPS to run it and do you think its going to be broker dependent? I can see it going the same way as Million Dollar Pips
You’ll be able to run it on your PC like MegaDroid and it’ll be somewhat broker dependent, but no where near like what MDP was like.
Good summary, Cam. Thanks for that.
They have an impressive site – my fav part is “NO UPSELLS!”
Hope to start my own test this week.
Hi cam,I bought 2 days ago pipjet through your website and downloaded it correctly on my mt4 at 4XP but did not get any trade from the EA, contrarily to you!!!reading the commentaries above I understand that the ea is broker dependent…so where do you suggest me to go in order that this bot works? !
It’s currently running on a Hot Forex Demo account. I haven’t heard a lot of good stuff about 4XP, it may have been that your spread was too high at the time.
Thanks Cam for your answer but don’t you think that between a demo and a real account at hotforex there should be a difference for the executions(slippage)? or have you yet use hotforex for real accounts with EAs? thx in advance for your precious help.
kind regards from Paris
I haven’t used HF yet, but have plans to as I’ve heard good things. I can’t comment on other brokers at this stage as it’s too early. Maybe people can leave their broker combo’s here and let others know what’s working well.
Hi Cam in your opinion will this EA work on Alpari UK?
Yes, but I think the results may differ from others… whether they are better or worse I cannot guess. Just less consistent… but only from previous experience with MD where the same happened.
I also haven’t had any trades. Currently running on activetrades small live account.
Will wait to see if it improves.
OK – so I was impatient and switched from the ActiveTrades account to my Go Markets. The EA has just entered a trade. Might have to move MD aswell then….. hmmm
Adrian
Pipjet sounds the goods, but then so have a lot of other Bots. Is broker choice as critical as Olivier alludes to. I would be using FXCM Aus.
I launched yesterday on Alpari Uk and no trades so far! but i guess its still early days
hi to all, I think it should be interesting to exchange our experience with our own brokers…then it will be probablu helpfull to find which broker allows us to use pipjet as it is supposed to work
One trade last night (UK time) and it was a successful one, so far so good! the one thing that worries me about this EA is can it be successful in the long term. With a small profit and small stop loss are the brokers not going to manipulate the market and kill any profits
My first night with pipjet on the job it was a losing trade last night.
That’s not a promising start.
So much hype and excitement and this new winning ea. I buy it. Bam. 1st trade. Loss.
HI Walter, was it a big loss or just one or two pips? what broker and type of account are you using and what is the spread for usd cad? thanks for yoour help
The spread has to be 3 pips or less or pipjet will not trade guys. So make sure the broker you use, has the right fixed or lower spread on the usd/cad.
I changed from ActiveTrades to my Gomarket account. I got a no win no loss break even trade. Following this I looked at all the official live accounts and their results varied from small losses to a nice 227 gain if I remember right. Guess its just too early to tell.
So far so good for me one trade one win!!! I guess time will tell thoough
Hi Oliver
It was 2 pips at default settings so large lot size at http://www.fxclearing.ca broker.
I’m moving my funds over to http://www.hotforex.com
I suppose I need to learn to follow the pack if I want the same results.
At fx Clearing there is a fixed 3 pip spread, and slippage.
Regards
Walter
If anyone can offer better advice, please do so! I’m all ears !!!
Hello evrybody I purchased the PIP JET on 27 june and I started to test it on 28 and it got his first 5 pips I’m using a VPS the broker is a demo account of THINKFOREX and on this vps the latency with this broker is 2 Ms very fast.
Got 3 profitable trades on Pepperstone +10.1 pips currently.
There is the list of recommended brokers in their members site.
Is FXCM on the list of recommended brokers?
I have been running pipjet live with Hotforex for the last 2 days with no trades as the spreads have been between 7-10 pips.
Hi Cam, im using pip jet on apari and so far so good one trade one winner! what interests me is how long will it take for the broker to recognise the EA and start taking action to make it unprofitable, even with a hidden stop loss and take profit, they must recognise its an EA. How many people will it take using this EA before they start minipulating the market to make it unprofitable?
MegaDriod managed to avoid it with 44000 clients… hence why this should be a good EA.
Hi Cam, good point and i hope you are right! lets hope this EA is as good!!!
No action so far for this week
No trades for me either!
No trades for me either. Pipjet been very quiet.
Only 1 buy on megadroid which I nearly hit stop loss just now.
Running both next to each other.
So we wait and see.
Hi Walter, Im also using Megadroid along side and my buy has hit stop loss!! Not great
Yes I am disapointed. My stop loss got hit too.
I’m beginning to wonder how many wins we need to make up these losses if the small profits are worth the risk.
The ratio is not right.
I sense a negative effect over this.
Regards
Megadroid needs to perform too.
Its not.
I am worried about the ratio as well Walter, I think it takes about 3 weeks or a month to recover the loss, if you have recovery mode switched on. But overall it seems to be profitable but is not a get rich quick EA. To make matters worse for me I have only just switched it on, so my first trade was a looser! I hope pip jet doesnt go the same way!!!!!
Hi Guys, I opened pipjet on 2 brokers simultaneously – IAM and Alpari UK. Both took out trades. IAM closed the trade with small profit and ran off happy into the sunset. Alpari didnt and let the trade run into negative. I think this one like MDP really needs to be experimented on with different brokers and vps providers. I think it needs a fast execution for both. Megadroid was never a quick get rich buck earner… so never imagined their new product pipjet to deviate from that. These are safe guys – small regular profits over time… I thinks its one of those products to put on a small account and just leave be? (after finding the best broker – pepperstones recommended? – unsure of what vps they’re recommending)…maybe I’ll go read their FAQ ……as they were kind enough to include them
Nothing for me with pipjet this week on GO Markets. Nothing from MD on active trades. I have opened a hot forex account too so may put both on there next week. As for a VPS I don’t know I use a small net book I borrowed (forever) from the Mrs.
Well and update, Pipjet entered a sell trade at 21:40, so for its down a little but at least its trading
No trade on my Alpari uk
Hi Jon m, Forexgirljen
I’m willing to use PipJet on Alpari UK.
Did you realize that Alpari UK has 3.5 pips in average?
Reading the PipJet strategy posted in their site one of the entry criteria is spread <3.3.
Did you set different spread on your PipJet?
The Alpari UK spread really concern me
What's do you think?
Thanks
Fabio
Geeze Fabio – Thx for the useful update. I didnt notice the 16pts! and colour RED!!! to highlight. Must admit I wasnt impressed with Alpari after seeing it put against IAM on the first order in my demo test. oh hum… I think its time to move to another broker. (Alpari R.I.P) … Apart from the recommended pepperstones I heard fxopen have good spreads and fast execution? (thats just hearsay not a recommendation from me)… I still think the vps provider plays a good part as well in the success of this EA? I’ll test further but will bypass Alpari
Thx for the info guys.
Alpari’s not the only thing not working around here – my pc just deleted a line of text from my update above – my update should have read i didnt notice the under 3.3 spread required…and that – that point should have been highlighted in over 16pts – bold and in red…. wonder whats wrong with my darn pc….
…sorry guys
Hi Fabio, no i didnt realise that! do you happen to know what the average spread on Think Forex is?
No I do not know.
But on Alpari UK you do not get a warning from the PipJet EA spread > 3?
looks like i may have to move to another account!
Thinking of Pepperstone Razer account any opinions? Im in the UK and would be using a UK based VPS
Hi Jon
For non US clients a good broker is
http://www.fxclearing.ca
Spreads are perfect.
Thanks Walter. Are you in South Africa? if so any good brokers there?
Hi Jon.
Yes I’m from south africa. There are no good brokers here.
I suggest fx clearing because you pay 1 pip fixed spread on majors. Easy to get your money there and back. Spreads are good in general and feed is ok. They offer many types of accounts to suit our needs.
http://www.fxclearing.ca. Pip jet works with this broker too!
Regards
Walter
Hi Walter, thanks for the advice, i drink south african cider and have just bought a south african dog so i figured what the hell lets have a south african forex account as at least they are on the same time line as the uk! lol
Pipjets on VPS at Pepperstone, did not give me trades for first two days, as it claims might take place.
Third & forth day, total 3 successful trades.Well done for a start!
2 trades last night one closed break even the other is still open and showing a loss
Hi John m
which broker are U using now? Still Alpari UK?
Hi Fabio, yes still on Alpari uk for the moment. still got one trade open and its going the wrong way!!!!
Anyone here with LIVE results?
this ea don’t seem very promissing to me with all the hype out there on the web and criticism.
just had a massive loss on my live account 10% of my account gone!
rubbish! 1 tiny winning trade then bang!full on loser.would hate to see this site shut down Cam over this rubbish!usual take profit of next to nothing and stop loss of unrealistic proportions.still,i only need another 10 straight wins to break even,what am i complaining about?
Just 3 trades – 0.00 – 0.00 and a massive 0.07 profit for the whole week. It will be interesting to see what happens next week. Following the slowness and people having such losses I will reduce my risk through this testing period.
My PipJet hit the stoploss with an ugly loss. With pathetic take profits it will take forever for pipJet to make it back.
I have asked for a refund. PipJet is pathetic and a load of hype.
Good Luck guys.
I rate it a loser. Zero Stars
Hi Walter, I am in the same case than you…I was quite excited with this ea but I am now ( 2 weeks after) very disapointed. The Risk level is not respected for me and the only trade I had was a loss!I will not be long to ask for a refund…
It looks like my live just missed the losing trade as it was the trade taken before I put it on my account. I have confidence that it will make this back and the demo above is only at -7 pips so one good trade should bring it back to break even.
As with all these EA’s you need to give them a little while to settle. It’s often always the case that the good ones have a perfect start and then a week or two in hit their first SL and the guys who have jumped live with it, on the back of the winning streak, get stung straight off the bat. Low risk on any live account and patience are the key to avoid early disappointment.
Lets hope you are right Cam, Sods law says soon as you go live you hit a stop loss. Fingers crossed it gets my money back soon!
Anyone have any trades this week? In fact does it trade mondays?
HI guys, it seems that this EA is working under very special combination of broker/vps…as they dont want to give any precise information about it I think that unfortunately it will be difficult to obtain their result.
I wish to all of you good luck !
Hi Guys – this is the reply from pipjet on the vps providers they recommend:
The VPS provider BeeksFX has generously offered a 10% continuous discount to all PipJet & Megadroid users. To benefit from this offer, click on the link below and don’t forget to enter the words “megadroid offer” in the comments page on sign up:
beeksfx.com/
We also suggest VPSland for people wishing to try VPSs – they have perfectly adequate Windows VPSs starting at rather low prices:
portal.vpsland.com
and of course they recommend Pepperstones for a broker? Jen