Review of the Pips Dominator EA
| EA Name | Currency Pairs | Timeframe | Strategy | ECN | 4&5 Digits | Take Profit | Stop Loss | Home Page |
| Pips Dominator | EurUsd | 1 Minute | Scalping | Yes | Yes | 5 pips | 100 pips | www.pipsdominator.com |
Performance (PipsDominator EA Test Results)
License
The Pips Dominator is sold for 97$ through clickbank
Forex Pips Dominator Strategy
The EA uses 20:1 risk reward ratio. No matter what winning ratio this EA may get on back test, it will NEVER ever survive the forward test. You need 20 winning trades in a row just to make up for one loss. Only a newbie would fall into such strategy. Moreover, it uses a 100 pips stoploss on a 1 minute chart trade pick, which clearly indicates that this is a totally random system. No solid strategy being coded here.
Forex Recommended Brokers
FX Open and Iam FX are two brokers to consider when trading forex robots.
Conclusion
There is no experienced trader or EA designer in the world who would build up a strategy with 20:1 Risk/Reward ratio and call it successful!! This EA has either been designed by experienced traders to scam the newbies. Or designed by newbies who claim to be experienced. Then hope the Ea won’t hit a stoploss during the Clickbank money guarantee, to keep refund rates at the down low. For either one of these two scenarios, we will just go ahead and mark this EA as a scam.
Safe To Buy?
NO!
The Forex PipsDominator has not been approved for purchase.
Pips Dominator Overall Rating
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September 3, 2010
#1
We have obtained a copy. It uses a 100 pips stoploss and 5 pips target for the ordinary settings, with a 200 pips stoploss and 5 pips target for the advanced settings.
Just backtest this junk starting January 5th 2009, the account will margin call.
The reaosn why that FX review website is showing a 50 pips gain, is because those Morons did not devide the target and stoploss by 10 when they got the EA applied on a 5 digits broker
thus, your assumption is correct, they are using 50 pips target and 1000 pips stoploss.
The reason why I called them Morons, is because they could have easily figured this out if they just ran a single backtest.
Cheers,
September 2, 2010
#2
Just curious, where did you the the 20:1 figure? I saw this EA’s live results on another FX review site and the first trade closed with about a 50-pip gain. Are stops really 1,000 pips?! Maybe stops and take profits can be dynamic? Or maybe they modified the settings?