FX Pips Express is an automated trading robot which was developed by current trader Anna Monti. Anna is over 40 years old, but this does not prevent her from actively participating in stock trading and developing her own, unique trading systems. If you are more interested in the biography of this person and reviews of her activities, you can use the search engine. There are a lot of data on the Internet about Anna Monti and her colleagues in the workshop: Rita Lasker, Karl Dittmann, and Alex Tanuka.
Description of FX Pips Express robot
As it becomes clear from the title, this automatic bot opens deals with a short expiration time. His goal is to earn just a few pips from each trade. At the same time, more than 5-10 orders can be opened for one trading session. The orders are opened not by themselves, but by the built-in indicators (there are 3 technical indicators used in total).
General information about the trading robot:
- Type of an automatic forex robot – pipsing scalper;
- Timeframe – M5;
- The minimum recommended deposit is $200;
- Currency pairs – EURUSD, USDCAD;
- Advisor’s cost (official) – $99.
The author of this forex robot, Anna Monti, releases new robots very often. More than 4 trading systems can be released per year. And in this case it is a disadvantage. Since the developer and author is not able to provide adequate technical support for their work. The FX Pips Express robot, according to reviews of many traders, can generate income in stable markets only.
The basis is the Stochastic indicator, relative strength index and horizontal lines. With similar technical assistants, the fx robot is trying to determine oversold and overbought levels on the price trend. But don`t forget that these tools can`t provide 100% correct signals to exit into the transaction or exit from it.
The advantage is that the robot comes with a ready-made set of settings. This means that a beginner does not need to change or optimize anything for specific trading conditions.
Disadvantages of FX Pips Express
In total, there are two key drawbacks of the described trading robot from Anna Monti.
- This robot can work effectively without the influence of fundamental factors only.
- Test results are untrue.
On the official website of the developers indicated that this robot is able to bring $14,000 for several months. At the same time there is no reliable evidence about what the real results of trading presents of this automatic robot. After all, for the evaluation of many users is not enough beautiful words, written as an advertising title.
The performance of a particular trading system can only be assessed by the results of independent trading (there must be charts, data on open positions). The Myfxbook portal, where most robots are tested, is best suited for this.
But, unfortunately, FX Pips Express does not have confirmed results of profitability or loss.
And the first flaw in the list is the principle of its work. Despite the using of three technical indicators, this robot is dependent on the influence of fundamental factors very much. Transactions are opened with a short expiration time, during one trading session. And the basis is taken trend oscillator. But everyone knows that a change in trend is also possible under the influence of certain political and economic events.
For example, you activate the FX Pips Express automated Forex bot and go somewhere on your personal business. And at this moment comes out an important news, which leads to sharp fall in the dollar against the euro. Technical indicators of this robot are able to determine tendencies and trends by patterns and basic signals, but the news can greatly affect the volatility of the markets. And it is the external factors that often do not “catch” the FX Pips Express robot, which is why transactions are closed at a loss.
How do traders who have already bought it respond to this robot?
Many reviews boil down to the fact that this robot really allows you to make money. But only for the short term. For example, you can take a few days or even a few weeks to go to the “plus”, earn money on transactions with a short expiration time. But a month later, two months later, the risk of a large drawdown is too great under the influence of fundamental factors.
None of the testing traders has shown high profits in the long term. One gets the opinion that the Anna Monti development team creates and releases trading robots so often just to make money on it. An information surge creates great demand in the first months, when the system is still running. But after that, the robot goes into a drawdown.
If you still decide to try to test the FX Pips Express robot, be sure to consider the fundamental factors. Open the economic calendar in each trading session and trade only in those moments when there are no important events on the asset you have selected that can change the price trend on the chart.