The Real Pips Robot is a Forex trading robot that utilizes a proprietary intraday strategy to open and close trades automatically. It is designed to protect trades with a stop loss and take profit target. In this review, we will discuss the Real Pips Robot’s strategy, features, and settings.
Real Pips Robot Strategy
Real Pips Robot is a Forex trading robot that uses a proprietary intraday strategy to enter and exit trades. The EA runs on the MetaTrader 4 platform and is designed to work on the USD/JPY currency pair, though it can potentially work on other currency pairs as well.
A proprietary intraday strategy EA is a type of Forex trading robot that uses a unique trading strategy developed by the creator of the EA. “Proprietary” means that the strategy is owned by the creator and is not publicly available for others to use or copy.
One of the strengths of the Real Pips Robot is its focus on risk management. The EA uses money management rules to control lot size and protect against excessive drawdowns. Additionally, it does not use any dangerous trading methods that could quickly drain your account, such as martingale or grid strategies. Also, all trades are protected by a stop loss and take profit target.
However, like any trading robot, Real Pips Robot has its weaknesses. There is lack of transparency with the EA’s strategy. Since the strategy is proprietary, the details of how it works may not be fully disclosed. This can make it difficult to fully understand the risks and potential drawbacks of using the EA. The EA will not perform well in different market conditions, or with other currency pairs.
The Real Pips Robot is worth considering for traders who are comfortable with a proprietary intraday trading robot and can manage the risks. However, it’s important to note that the EA should always be used on a demo account before using with real money. Additionally, it’s essential to apply good risk management settings and be cautious when using the EA on a live account.
Real Pips Robot Features
- Uses Proprietary intraday trading strategy
- Compatibility with any Forex broker
- Protection of trades with stop loss and take profit
- Use of money management rules to control lot size and protect from excessive drawdowns
- Works on the MetaTrader 4 platform
- Can trade the USD/JPY currency pair, and potentially other currency pairs as well
- Suitable for both demo and real account trading
Real Pips Robot Settings
- Use break even – a feature that moves the stop loss to break even once a certain profit level has been reached
- When to move break even – the amount of profit required before the stop loss is moved to break even
- Lot size – the size of each trade, which can be set manually or automatically
- Trailing stop – a feature that adjusts the stop loss as the trade moves in your favor, to help protect profits
- Magic number – a unique identifier for the trades placed by the EA
- Take profit – the target profit level for each trade
- Start time – the time at which the EA begins trading
- End time – the time at which the EA stops trading.
Real Pips Robot Summary
The Real Pips Robot is a profitable Forex trading robot that uses a proprietary intraday strategy to trade the USD/JPY currency pair. It uses money management rules to control the lot size and mitigate loss. One of the weaknesses of the EA is the performance of its proprietary intraday strategy that is based on historical data, which may not necessarily reflect current market conditions. This means that past performance may not be a reliable indicator of future performance. It is worth considering for traders who want to automate their trading. Traders should test the EA on a demo account and apply good risk management practices before using it on a live account.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
