The Mega Pips System – An In-Depth Review

Table of Contents

The Mega Pips System is a trend-following forex trading system that aims to help traders identify and capitalize on market trends to generate consistent profits. It operates on the 5-minute timeframe and combines multiple technical indicators to generate trading signals.

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Key Features:

Trend-following system designed to identify strong market trends
Uses combination of indicators like Bollinger Bands and Moving Averages
Simple trading rules based on indicator signals
Works on 5-minute timeframe across all currency pairs
Claims 60% profitability rate in backtests

How it Works

The Mega Pips System uses four key indicators to analyze the market and spot trending opportunities. These four indicators work together to filter the market noise and identify high-probability trades.

The indicators used are:

Bollinger Bands Stop: Plots upper and lower bands around price to identify overbought/oversold levels. Signals are generated when price breaks out of the bands.
Paint Bar: Colored bars that track the market trend. Green bars suggest an uptrend while red bars indicate a downtrend.
High/Low Target: Plots potential price targets based on recent swing highs and lows.
Trend Direction: Slow-moving average that smoothens price action to identify the overall market trend.

Trading Rules

The trading rules for the Mega Pips System are straightforward:

Go long when the Bollinger Bands Stop gives a buy signal and the Trend Direction shows an uptrend (black bar)
Close long trades at the High/Low Target levels or when Bollinger Bands Stop changes direction
Go short when Bollinger Bands Stop gives a sell signal and Trend Direction shows a downtrend (red bar)
Close short trades similarly at Target levels or indicator signal change

Stops are placed outside the Bollinger Bands to limit downside risk.

Mega Pips System Performance Metrics

The Mega Pips System is claimed to have a 60% profitability rate in historical backtesting across different market conditions.

Some key metrics include:

Win rate of 82%
Average 2 trades per currency pair per day
Average profit target between 50-100 pips
Risk to reward ratio of at least 1:2

These metrics certainly seem attractive for a trend-trading system. However, past performance does not guarantee future results. Real-world trading performance may vary.

Using the Mega Pips System

The Mega Pips System includes trading rules and indicators that are easy to program or use on platforms like MT4. Traders can apply the rules manually or automate strategy signals with EAs.

It can work across all currency pairs and timeframes of 5-minutes or higher. Lower timeframes may generate more false signals. Higher timeframes like 60 or 240 minutes provide smoother trend direction.

The system aims to capture extended trends. It may underperform in ranging or volatile markets with no clear direction. Therefore, traders should combine it with good risk management.

Overall, the Mega Pips System offers a structured approach to trend trading. It is easy to use for all trader levels. But sufficient backtesting and demo trading is recommended before going live.

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Customer Support

Customer support is provided via email and a support forum. The developers seem responsive to queries and aim to resolve issues promptly.

Judging by forum feedback, they provide reliable support to users of this trading system.

Pricing

The Mega Pips System is currently available for free download. Users just need to provide their email address to access the trading rules, indicators, templates, user guides, etc.

Additional costs may be applicable for licensing the system for commercial use. But personal use for trading remains free of charge.

Mega Pips System Verdict

The Mega Pips System is a simplistic trend trading system that appears to have solid backtested results. The combination of indicators and rules provides a structured approach for traders to identify high-probability trades in the direction of the trend.

For traders looking for an easy-to-use and effective trend trading system, the Mega Pips System is certainly worth considering. The risk-reward metrics match those of other popular trend following systems. And it works across timeframes and currency pairs.

While past performance is no guarantee, the system does seem to offer reasonable profit potential based on the statistics provided. And it certainly suits beginner traders looking for a simple but structured system to follow.

Overall, the Mega Pips System scores well in terms of ease of use, flexibility, and performance metrics. The free access and responsive developer support are added advantages. It is definitely a system to test out for trend traders.