This one will be a good one. Today I am focusing on the review of the pipboxer v5 system. The pipboxer system is a quiet old automated trading system that has actually been out there since late 2006 and that I traded before (older versions) with very bad results. This version claims to be different than previous versions and it claims to achieve profitable results in forex trading. Since a newsletter subscriber has recently requested a review of this trading system I felt inclined to write this post and give my opinion about the current state of the art of the pipboxer v5 system. I will compare their evidence with their claims and evaluate their logic in roder to give my opinion about the long term profitability of this expert advisor.
First of all, the pipboxer system seems to have done a certain effort to provide people with a good amount of live testing evidence. However, the way in which this evidence is displayed is quiet awkward and difficult to navitage through, something which makes it harder to get to where I wanted. Second, the evidence is not always given as statements but sometimes they are just some spreadsheets, something which I don't like, I always like trading statements to be available so that I can watch the evolution of the system trade by trade.
When it comes to the profitability of the expert, it becomes obvious that the expert suffers from some serious problems. Almost all profitability comes from the GBP/JPY pair (which is not what you would expect from a system trading 12 pairs) and also and most important, this expert is veyr likely NOT to be long term profitable because of it's horrific risk to reward ratio which I calculated to be near 90:1, that is, a losing trade needs almost 90 profitable trades to come out to the other side. This is evidenced when you compare SL and TP values on the live statements they do give. Then another important fact,why are statements from 2009 trading missing ? Why are they only test for previous years ?
This becomes a little bit clearer when you start looking at people's results online, you will see that most people have lost very good chunks of money in 2009 with this system. This system is of course not long term profitable, from a simple glance at the statements and the risk to reward ratio I could have inferred that. The creators do say on forexpeacearmy that they are looking at ways to correct these issues in 2009 but come on, it did not surprise me at all. This system was a bad one in 2006 and it continues to be a bad one in 2009. If their original system had fulfilled half the claims they had at the time they would now have 3 years of live testing. They actually don't have enough evidence for long term profitability and their impossibility for backtesting (due to the use of several pairs) and lack of live testing from 2009 (which is supicious) makes it very difficult to believe their claims.
Of course, if in 2012 they have 5 year long profitable statements I will reconsider this review. Meanwhile, I urge you to stay away from their system, they don't have enough evidence to prove their calims, and in my opinion, their system is just flawd by design. However, if you would like to learn more about automated trading systems and which free systems you can trade in a long term profitable fashion, preserving your capital and having realistic profit targets lease consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
First of all, the pipboxer system seems to have done a certain effort to provide people with a good amount of live testing evidence. However, the way in which this evidence is displayed is quiet awkward and difficult to navitage through, something which makes it harder to get to where I wanted. Second, the evidence is not always given as statements but sometimes they are just some spreadsheets, something which I don't like, I always like trading statements to be available so that I can watch the evolution of the system trade by trade.
When it comes to the profitability of the expert, it becomes obvious that the expert suffers from some serious problems. Almost all profitability comes from the GBP/JPY pair (which is not what you would expect from a system trading 12 pairs) and also and most important, this expert is veyr likely NOT to be long term profitable because of it's horrific risk to reward ratio which I calculated to be near 90:1, that is, a losing trade needs almost 90 profitable trades to come out to the other side. This is evidenced when you compare SL and TP values on the live statements they do give. Then another important fact,why are statements from 2009 trading missing ? Why are they only test for previous years ?
This becomes a little bit clearer when you start looking at people's results online, you will see that most people have lost very good chunks of money in 2009 with this system. This system is of course not long term profitable, from a simple glance at the statements and the risk to reward ratio I could have inferred that. The creators do say on forexpeacearmy that they are looking at ways to correct these issues in 2009 but come on, it did not surprise me at all. This system was a bad one in 2006 and it continues to be a bad one in 2009. If their original system had fulfilled half the claims they had at the time they would now have 3 years of live testing. They actually don't have enough evidence for long term profitability and their impossibility for backtesting (due to the use of several pairs) and lack of live testing from 2009 (which is supicious) makes it very difficult to believe their claims.
Of course, if in 2012 they have 5 year long profitable statements I will reconsider this review. Meanwhile, I urge you to stay away from their system, they don't have enough evidence to prove their calims, and in my opinion, their system is just flawd by design. However, if you would like to learn more about automated trading systems and which free systems you can trade in a long term profitable fashion, preserving your capital and having realistic profit targets lease consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
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