marc1713006104 Posted February 22, 2011 Report Share Posted February 22, 2011 (edited) looks promising anybody yet have this works on gbpusd 1hr chart. [email protected] Regards Edited February 22, 2011 by marc Quote Link to comment Share on other sites More sharing options...
soundfx Posted February 22, 2011 Report Share Posted February 22, 2011 A bit of googling suggests that this EA is just a copy of one of funyoo's EA's created in 2009. Some are saying the results are suspect, there's only backtesting results shown and the vendor has been known for churning out rubbish in the past. One to steer well clear of IMHO. Quote Link to comment Share on other sites More sharing options...
marc1713006104 Posted February 22, 2011 Author Report Share Posted February 22, 2011 i see that it was purchased from the author by the guys that make winprO ea,that turned out to be a looser, Well my head is telling me that just maybe trade manually. Regards Quote Link to comment Share on other sites More sharing options...
jezzer1961 Posted February 23, 2011 Report Share Posted February 23, 2011 Hi, I'm from Easy EA who own the rights to PipRider. Although we assisted in PipRider's initial development earlier last year, we only took it over at the end of last year and have since updated the EA and rebuilt the website. In reply to SoundFX's post, it most definitely isn't a copy of Funyoo's (or anyone else's) work. It's totally original and we consider ourselves to one of the most honest EA vendors around. Our EAs might not always be profitable, but we'd never fudge their results to increase sales like some others would! I've seen the post on Donna's forum where some idiot suggested it's a scam and that's total nonsense quite frankly. There are both backtests and forward results on the PipRider website for you to look at. It backtests very well for all brokers whose spread is 3 pips or under, and long term win rate varies between 80% and 83% depending upon broker spread. Risk/reward ratio averages out at around 2.5. Current live performance is a little under target following a tough month in December, but that drawdown was well within expectations and it's since recovered from it. Pheniox and soundfx 2 Quote Link to comment Share on other sites More sharing options...
marc1713006104 Posted February 24, 2011 Author Report Share Posted February 24, 2011 Hello Jezzer1961 thanks for your feedback would be good to get a live account up on the website with your daily results with this ea,as friends have had ea,s from you that did not perform well,however you are one of only few honest sellers on the web,and therefore i would be intrested to see a live account up and running with pip rider performance on. Regards Quote Link to comment Share on other sites More sharing options...
jezzer1961 Posted February 24, 2011 Report Share Posted February 24, 2011 Hi Marc, That's certainly something that we plan to do going forwards and, in actual fact, we do already run PipRider on a live account although that account is also used for manual trading, and there are headaches in parsing the non-PipRider trades to produce anything that's meaningful. Regarding our other products, unfortunately 2010 was pretty pants for them and it's not something that we are trying to hide from. The trouble with this business is that past performance is very quickly forgotten as people have a tendency to only focus on the current point in time. I'm not saying it's wrong to think like that, as it's only human nature. I could write a 10,000 word essay on trader psychology and herd mentality, but it would bore you silly. Anyway, if you're interested in PipRider, why don't you send me an email? I'm pretty sure that I know who you are from previous correspondence that I think we've had and I might be able to help you out. Quote Link to comment Share on other sites More sharing options...
marc1713006104 Posted February 24, 2011 Author Report Share Posted February 24, 2011 Hello jezzer1961 Yes people are not intrested in back tests,as they say thats history. 99% of EA,S loose money fact,i know your ea,s and i also know that you try hard. However what makes this ea any different from all the rest,thats why a good live money account on your website with daily trades would help somewhat,because i know that these will be true results, What time of the day does this ea trade? And how many trades does this ea take during the day(approx) Regards Quote Link to comment Share on other sites More sharing options...
jezzer1961 Posted February 24, 2011 Report Share Posted February 24, 2011 Marc, This probably isn't the thread to debate the merits of backtests, but that doesn't mean they should be discounted. For a start, if an EA doesn't survive a backtest, it sure as hell won't work live. I have seen one EA vendor declare that backtests are worthless and he will soon disclose the real reason why his own EA fails the backtest. That I've got to see!! Secondly, backtests are important for determining drawdowns and figuring the best lot size or level of risk to use when going forwards. We've read comments from people in the past who've said "Oh yes, I can stand a 30% drawdown" only to bottle it and quit the game when they're staring a 15% drawdown in the face just before the recovery starts. And, 9 times out of 10, the reason for the drawdown is that too high a level of risk had been used. Finally, you should use the backtest to see how an EA might perform with your own broker. What's the point in relying upon an Alpari backtest using a 0.8 pip spread with microlots, if you're going to use a broker like FXCM whose spread is 2.5 pips and whose minimum lot size is 0.1 lot? The results will be completely different. In addition, we see many backtests which just show 100 odd trades (probably because the account would've blown on the next trade). We made sure that we tested each of the last 11 years for longer term stability. Whether you choose to believe the backtests for PipRider or not is down to you, but we have tried to be as illustrative and open as possible. Similarly, we haven't tried to pretend that backtests are live or anything silly like that, which is another stunt that I've seen others try to pull. As for PipRider itself, time will tell if it's any good or not, and we're not in it for the hard sell. We'd rather let our users decide whether it suits them or not. As for your other questions, it trades from 3pm UK time (after the news releases from the US are out of the way) and up until 7am UK time (before UK news starts to flow through). It should trade around 7 or 8 times each week. soundfx 1 Quote Link to comment Share on other sites More sharing options...
soundfx Posted February 24, 2011 Report Share Posted February 24, 2011 Hi jezzer, I shouldn't believe all I read on the web lol ;) It's great to see a real EA developer working hard to create a decent product. Thanks for putting me straight. Quote Link to comment Share on other sites More sharing options...
ho3ain190 Posted February 24, 2011 Report Share Posted February 24, 2011 http://www.piprider.c0m/strategytester.htm Quote Link to comment Share on other sites More sharing options...
marc1713006104 Posted February 25, 2011 Author Report Share Posted February 25, 2011 Hello Jezzer1961 Thanks for your detailed reply Regards Quote Link to comment Share on other sites More sharing options...
⭐ fxknight Posted February 25, 2011 Report Share Posted February 25, 2011 Makes on laugh - really. The backtest claims "great risk/reward ratio" but the ratio of the largest losing trade to the winning trade is 5.23 to 1. I wonder what money management class this guy attended. Maybe the Karl Dittman school of trading! Cheers Quote Link to comment Share on other sites More sharing options...
jezzer1961 Posted February 26, 2011 Report Share Posted February 26, 2011 Hello fxknight, We did attempt to explain PipRider's risk/reward scenario in one of the pages of the website, but maybe you didn't notice it or our explanation wasn't very clear. To explain further, PipRider sets a SL with each and every order it opens. The distance of the SL varies from one trade to the next, as it is based upon recent price action. The lot sizes are calculated based upon the EA risking a fixed percentage of the user's account balance based upon SL distance and, in the backtests on our website, 4.5% is being risked. If the SL is large, trade lot sizes will be small, and vice versa. Users can set their own risk level which is obviously going to be subject to their broker's minimum lot size and increment. Although the SL distance varies from trade to trade, the average SL distance from the 10 year backtest is about 90 pips (we put the test report into Excel and analysed it further to determine this). Similarly, the average TP is about 12 pips. Therefore, the average risk/reward ratio when a trade is opened is 7.5, although it could be higher than this with trades where the SL is greater than 90 pips. Fortunately, very few trades run to full SL (about 3.5% of all trades and, when they do run to full SL, the loss is limited by the risk level that the user has set), and the majority of trades are closed ahead of this by PipRider's stealth system. As a result, the average SL is only around 30 pips which returns a risk/reward ratio of 2.5 that we referred to on the website. I'm sorry if you were confused by this and I hope the above explanation makes sense. Quote Link to comment Share on other sites More sharing options...
noone Posted March 7, 2011 Report Share Posted March 7, 2011 Anyway jezzer, are you sharing the ea here to test it? that would be nice. ;) Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.