Hello everyone. After a long long time demo testing the PipBoxer V4 Expert Advisor (forex robot for all you newbies out there) I’m finally ready to pass some meaningful judgment upon it, hence this review.
First off I should mention that the version I’ve been testing is NOT the latest one! The latest version is V5 and it uses a different trading strategy than V4. Thus my review may be of limited use, but nonetheless I left that I should at least publish my findings. Maybe V5 is better, maybe not. I might find out later on if the good folks at Investatech (company behind PipBoxer) send me the PipBoxer V5 demo package. I’ve fired off a request, so let’s see if they respond favorably.
Before I go any further I would like to kindly thank the Investatech crew for sending me the PipBoxer V4 demo package for testing – without that this review would not be possible.
What is PipBoxer?
PipBoxer V4 (important to note that the latest version uses a DIFFERENT trading style) is an expert advisor (aka EA) that uses a breakout trading strategy.
PipBoxer V4 analyses the market 24/5 to find the best opportunity to enter a new trade. Compared to V3, this version of PipBoxer could enter a trade any time of the day. PipBoxer V4 does not use any indicators. PipBoxer V4 uses a price action mechanism to recognize the direction of the market. The elimination of the indicator makes PipBoxer more dependent on what market shows right now rather than what has happened in the past.
Features it lacks
PipBoxer V4 is only partially compatible with fractional pips (5 digit price feed) and does not send out email signals.
Forward demo testing results
Alright, now let’s get to the meat of the story – how PipBoxer V4 performs. I’ve set it up on a $50K Liteforex demo account on February 25’th, 2009. Until then I’ve had it running nearly 24/7, except for a 3 week period where I was on vacation, and I got the following performance result (click on the PDF icon below to download my performance statement):
As you can see from that statement, my original $50K account slowly drained itself down to roughly $27,000 which represents a loss of around $22,000!
Well, as you can clearly tell by taking a look at my performance statement PipBoxer V4 is not profitable. I thus would not recommend PipBoxer V4. You can’t buy this version any more from the PipBoxer homepage so it’s unlikely that you’d come across it anyways, but if you do somewhere I’d suggest you avoid it. If you feel adventurous try PipBoxer V5.
Like I said at the beginning of this post, if the folks behind PipBoxer honor my request and send me a demo copy of PipBoxer V5 I would gladly test it out and let you all know how it performs. But until they do (that is IF) I am moving on to other EAs.
I wish you all profitable trading – be it automated or manual.
2 thoughts on “PipBoxer V4 Review”
Comments are closed.