PipHunter EA is a Forex robot gaining a little attention from the community due to its my FX book trading account that started at the beginning of December. The web-site is not your usual sales page, as it is very basic, and doesn’t contain any sales jargon at all. The developers are EA4u.info, a website dedicated to providing expert advisors that make at least 27% in yearly profit with a low drawdown.
Today we will be doing our best to analyze and review this development team while breaking down the significance of their latest EA.
PipHunter EA Review
It’s really quite disappointing that the PipHunter EA developers aren’t willing to provide more information about their product. We are really only given basic instructions on how to install an expert advisor. The website is also littered with ads for a VPS company called LinkUpHost, this is quite unprofessional. The sales page should never be advertising other products, it should be focused on explaining their product.
We know very little, but this is what we do know.
Type: Forex Robot
Price: $146/1 live and 2 demo licenses.
PipHunter Results Breakdown
So while we have very little information provided by the PipHunter EA development team, we can come to our own conclusions about the strategy by analyzing their trading results.
We can see that the robot started trading at the beginning of December and is currently on a streak of 59 wins with 0 losses. It looks like the software will open trades with no stop loss at all and then wait weeks until the take profit is achieved. The strategy has been pretty solid thus far considering there is only a 33% drawdown but the dangers of an EA with no stop loss are immense. It does look as if one lost trade could cause a margin call.
The EA opens one trade at a time and won’t trade began until that trade is finished. There was a trade opened on 19 January and it is currently open for -90 pips over 2 weeks later. If the market doesn’t return in the direction the robot wanted to this trade could be open for months on end.
The PipHunter EA comes across as a risky and dangerous proposition. Obviously, if the developers at EA4u.info provided us with more information about the strategy we wouldn’t have to make assumptions and draw our own conclusions from their trading statements. However, this is the position they have put us in and there is nothing that suggests this robot uses a stoploss. A robot with no stop loss can win for long periods of time but at one point or another the account will crash and burn.
If you are new to automated Forex trading I recommend that you check out our active Forex Robot Tests to see what systems are working best for the Forex Robot Nation readers. As always, please leave your comments below the article.