PIPS RIDER EA BOT Review – A Powerful Forex Trading Robot
PIPS RIDER EA BOT is an automated trading robot designed to trade the Forex market. This trading bot runs on the popular MetaTrader 4 and MetaTrader 5 platforms and is capable of trading multiple currency pairs 24/7.
Overview of PIPS RIDER EA BOT
PIPS RIDER EA BOT was created by a team of professional traders and software developers with over 10 years of experience in algorithmic trading. The goal was to develop an easy-to-use Expert Advisor (EA) that could generate consistent profits in the Forex market automatically.
Some key features of PIPS RIDER EA BOT include:
- Fully automated trading – no manual intervention needed once configured
- Trades multiple currency pairs including EUR/USD, GBP/USD, USD/JPY, etc.
- Uses sophisticated algorithms to identify high-probability trading opportunities
- Advanced money management strategies to limit risk and maximize profits
- Compatible with all brokers and account types (ECN, STP, etc)
- Runs flawlessly 24/7 on VPS or trading computer
How PIPS RIDER EA BOT Works
PIPS RIDER EA BOT is based on a combination of technical analysis and sophisticated trading algorithms. It continuously analyzes the price charts of multiple currency pairs, identifies profitable trade setups, executes trades, manages open positions, and closes trades automatically.
The trading logic consists of several technical indicators that help determine market direction, volatility, and momentum. These include RSI, Stochastic, MACD, Bollinger Bands, and Moving Averages. When certain criteria are met, the EA will open long or short positions accordingly.
Some of the entry techniques used by PIPS RIDER EA BOT include:
- Breakout trading – entering new positions when price breaks key support/resistance levels
- Pullback trading – entering on short-term retracements in the overall trend
- Trend following – identifying the dominant trend on higher timeframes and trading in that direction
The EA has solid risk management rules in place as well. It uses reasonable stop losses and takes partial profits at predefined targets. Advanced trailing stops are used to lock in profits as the trade moves in the intended direction.
Overall, PIPS RIDER EA BOT aims to capture market moves and trends as early as possible, while strictly controlling risk on every trade.
Performance and Backtests
Extensive backtesting has been performed on PIPS RIDER EA BOT to fine-tune the settings and logic for maximum profitability and consistency.
According to the vendor, backtests over the past 10 years show that the EA is capable of generating triple-digit percentage returns consistently. Some of the key backtest results are:
- 829% return over 10 years on EUR/USD
- 612% return over 8 years on GBP/USD
- 1,033% return over 5 years on AUD/USD
The average winning trade is roughly 2-3x larger than the average losing trade, demonstrating effective risk-reward management. The max drawdown observed during backtests was around 25%.
These backtest results demonstrate that PIPS RIDER EA BOT has the potential to grow accounts steadily with proper risk management in place. Past results do not guarantee future performance, but the statistics are certainly promising.
Live Performance
In addition to extensive backtesting, PIPS RIDER EA BOT has been running on multiple live accounts to further validate the performance.
The vendor provides regular updates on the live accounts. As of November 2022, PIPS RIDER EA BOT has been running flawlessly on live accounts for over 9 months with stable growth and low drawdowns.
Some of the key stats of the live accounts are:
- 530% growth in 9 months on a $5,000 EUR/USD account
- 890 pips average monthly profit on a $10,000 USD/JPY account
- Maximum drawdown of less than 20% across all pairs
These results demonstrate that PIPS RIDER EA BOT has the potential to generate steady profits month after month in live market conditions. The combination of backtests and live performance gives traders confidence in the EA before purchasing.
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Advantages of PIPS RIDER EA BOT
Based on user reviews and the performance statistics, PIPS RIDER EA BOT clearly has several advantages:
Proven Profitability – The extensive backtests and live account results prove that the EA has the potential to generate consistent profits month after month.
Fully Automated – PIPS RIDER EA BOT handles every aspect of trading automatically, from analyzing charts to opening positions, managing trades, and closing profitably.
Multiple Pairs – The ability to trade multiple currency pairs provides diversification and more opportunities to profit.
Solid Risk Management – Smart stop losses combined with appropriate position sizing ensures risk is minimized on every trade.
Easy to Use – BOT can be set up in minutes and requires no Forex trading experience to operate.
24/7 Trading – Since it is an automated software, BOT can trade around the clock to maximize opportunities.
Affordable – At a one-time fee of $199, BOT provides tremendous value given its profit potential.
For traders looking for an established, profitable, and hands-free trading solution, PIPS RIDER EA BOT checks all the boxes.
Things to Keep in Mind
While PIPS RIDER EA BOT has several advantages, there are a few things to keep in mind as well:
- As with any EA, profitable results are not guaranteed. Proper risk management is essential.
- Avoid over-optimizing or curve-fitting the EA to historical data. Parameters should be set to optimize future performance.
- The default settings provided may need minor adjustments based on the currency pair being traded.
- Use only reputable brokers that offer accurate pricing and execution for algorithmic trading.
- It is highly recommended to run the EA on a VPS for uninterrupted trading and connectivity.
- Start with small position sizes and reinvest profits to scale up position size gradually.
As long as proper trading practices and money management principles are followed, BOT provides a significant advantage over manual trading.
Conclusion
Overall, PIPS RIDER EA BOT is an exceptional trading robot that leverages technical analysis and advanced algorithms to trade the Forex market automatically.
The combination of rigorous backtesting and stellar live results demonstrates that BOT has the potential to generate consistent profits month after month. It takes the emotion out of trading and puts a proven, unbiased system in the driver’s seat.
For traders looking to profit from Forex without having to monitor charts and place trades manually, BOT is definitely worth considering. The active community support, affordable pricing, and robust performance make it a top choice among automated EAs.
However, as with any EA, proper risk management, and reasonable expectations are vital. Within its limitations, BOT provides a significant edge for disciplined traders.