In this post I will be reviewing the 5 Pips A Day Forex Robot. It was originally released in around 2011 and targeted 5 pips on the EURUSD everyday, as the name suggests. however, since then it has been improved even further and now targets more.
In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
5 Pips A Day Trading Strategy
The 5 Pips A Day Forex Robot runs on MetaTrader 4 and places fully automated trades at multiple times per day on the EURUSD currency pair provided the technical analysis indicators determine a valid entry signal at those set times (GMT). GMT is automatically calculated so there is no need to worry about adjusting the times according to your brokers server timezone.
It is very simple and easy to setup, you can use the default settings although you may wish to adjust the lot size or risk used to a level that you feel happy with. It does not use any dangerous martingale, hedging, grid or arbitrage techniques. You could even try it on a demo trading accout risk free to see if it is something that works for you and your goals.
As it trades the EURUSD major forex currency pair, you can often get some of the lowest spreads and plenty of liquidity for fast execution. I would personally use an ECN forex broker as I find that they tend to have some of the best trading conditions.
5 Pips A Day Back Testing
5 Pips A Day has some impressive back tests results on the official website that were done on the EURUSD 5 minute time frame with real tick data and real spreads, this makes them as reliable as back tests in the MT4 strategy tester can be. It should be noted that there are no guarantees on how any system will perform and historical results are by no means an indication of future performance.
5 Pips A Day Verified Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
5 Pips A Day Summary
The 5 Pips A Day Forex Robot includes an easy to follow instruction manual for a quick 5 minute setup as well as full support, free updates and a comforting 60 day money back guarantee. If you are looking for an automated forex trading system then 5 Pips A Day is something you may wish to take a look at! The back tests provided certainly look impressive and show the EA has potential!