AutoPip EA is a trading advisor that was published by Neill Thomas Campbell Forbes on the MQL5 market. It was released on 17 August 2021. So, it can be treated as a new trading solution. The last update to V2.8 was on October 7, 2021.
Is this robot a viable option?
We can say neither yes nor no. The robot is just a baby by Forex terms. It should work for half a year on the real account before we can say with a convenience that it’s good to go.
How to start trading with AutoPip EA
The presentation is quite short and we expected that it should be more informative.
- We can trade fully automatically on the terminal, using this robot.
- The advisor trades quite aggressively.
- “There’s an intelligent drawdown reduction algorithm and an inbuilt news filter.”
- The system is featured by a new exit system.
- Pricing will be $150 soon.
- Expert advisor was tested on the real tick data.
- Its quality of testing was 99.90%.
- We may trade only EURUSD and Gold.
- We should work on the M15 time frame.
- The dev created a Telegram channel to communicate.
The offer includes $100 pricing. The price is okay among other offers on MQL5. We can subscribe to it for $40 monthly. There’s no refund policy provided. The system can be downloaded for demo usage.
AutoPip EA backtests
The backtest report was from Gold on the M15 time frame. The data period was five years. The modeling quality was 99.9% with low pips spreads. The maximum drawdown was 13%. An initial deposit was $1000. It has turned into $13,619 of the total net profit. There were 9526 orders traded. The accuracy was between 66% and 69%.
Trading results
The positive sign of the presentation is the verified trading results. We have a robot working on a real RoboForex account automatically with 1:500 leverage. The maximum drawdown was 40.6%. The maximum deposit load is 69.2%. It’s quite a risky number because the system could reach a margin call level. The signals’ reliability is low. The absolute growth is 77.50%. An initial deposit was $1000.
An average trade length is 7 hours. We have a trade frequency of 43 deals weekly.
The robot can easily lose up to 40%. Recovering can take several months easily.
The advisor works with Gold only. The lot sizes were from 0.01 to 0.02.
During trading activities, the system has traded 402 deals. The best trade is $80.46 when the worst trade is -$56.43. The profit factor was average – 1.79.
The advisor prefers trading the Sell direction over the Buy direction.
Other notes
Neill Thomas is a developer in the UK who has a 640 rate. There are only three products on the board. His products have a 5 rate based on six testimonials.
People feedback
There are several positive testimonials written about how great the system is. We can’t be sure that they are real and relevant.
Wrapping up
Advantages
- Backtest reports provided
- Trading results shared
Disadvantages
- No risk and money management advice given
- No settings explanations provided
- Poor backtest report
- Trading results don’t look smooth and predictable
- Lack of testimonials
- No refunds provided
AutoPip EA is an expert advisor that works with Gold to make profits. The system is quite young and didn’t show a stable growth chart. The testimonials don’t look real because there are no mentions of the loss period.
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