Forex Expert Advisors : PipMax by pipyard.com an Unbiased Review

A website visitor asked me a few days ago to review the Pipmax expert advisor created by pipyard.com. I am sorry for putting the review on the side for a few days but as you may see, there is actually a quiet large queue of systems that are waiting to be reviewed. However, again, I would like to thank everyone who leaves a message on the chat requesting a system review. Even if it takes me a week or two I promise that whatever forex system you request me to review on the chat I will look at and review.

Now, let’s start to evaluate the PipMax! expert advisor. The first phrase that greets us when we open their webpage is actually a whopping “You have just discovered the most powerful and profitable Robot on the net!” so let’s see if they can live up to their claims and show us why this is the most profitable EA out there.

As a matter of fact, this website does show us some evidence we can actually use to go a little bit further into the logic and likehood for long term profitability of this expert advisor. Backtesting results show us that this EA trades with an internal closing mechanism aided by a trailing stop mechanism so there is not that much we can learn about it. A pretty interesting fact is that they also give us a few month long live testing statements showing how the expert actually traded on the real market.

Not to my surprise, there is a wide live testing, backtesting inconsistency with this expert advisor. If you check live testing results and then look at them against backtesting you will find that the number of loses increases dramatically from one to the other. That is, the expert is far less profitable in live testing. Another very important thing is that the expert makes huge profits in very small amounts of time so it must be having a huge market exposure on live testing. You should be wondering by now why are the live trading statements so short ? Well, if they started in April they should have at least a 5 or 6 month backtest by now. Where is it ? Where, according to the evidence shown by the EA creator, it is most likely that this expert, lime many many others out there, just is not long term profitable and started to go into heavy draw down during the following months, otherwise, the creators would have shown the statements since it would make no sense not to do so.

It is no coincidence that live tests stop at around May, time in which the market started to enter a very interesting market period which put many expert advisors to the test. It seems by the looks of it that the PipMax EA wasn’t up to the challenge.

So yes, there is backtesting evidence and live testing evidence. The backtesting evidence is not live testing consistent and the live testing evidence is just too short and suspicious. Why did they stop testing the EA ? Again, the question seems to answer itself. This EA is then absolutely NOT worth buying because first, there is no back-live testing consistency to help us evaluate long term profitability and second, there is not enough live testing to backup the seller’s claims in a convincing enough way.

Now, if you would like to learn more about how you can evaluate and distinguish long term profitable strategies and how you can start trading with a free long term automated trading system right now, please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed this article !

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