PipFinite EA Trend PRO is a newly released Forex robot designed to work on the MT5 platform. It particularly trades PipFinite Trend PRO’s signal and manages the trade according to the preferences of the user. The robot is currently available in its current version 2.33 on mql5 platform.
Product offering
There is nothing unique or special about the EA’s presentation on the mql5 website. The developer mainly describes the features of the product, publication details and pricing. A few customer reviews and the vendor’s profile are also available.
Karlo Wilson Vendiola is the brains behind this system. According to the profile, Karlo is based in the Philippines, has more than 7 years experience and a total of 20 products to his name. That’s all the information available about him. We do not know his area of specialization or if he possesses the right qualifications to develop trading tools for Forex. It is hard to trust him since he could be an amateur.
The developer is selling the robot at $198. There are also two renting options. As such, you can rent the EA for 1 month or 1 year at $98 and $158 respectively. A money-back guarantee is not provided.
Trading strategy
The EA has several features which are listed below:
- Built in Trend PRO indicator algorithm
- Automatic money management options
- Breakeven options
- Trailing stop loss and take profit options
- Built in entry and exit filters
- Customizable settings
- There is a martingale option
- Email, pop-up, and push notification alerts
- Works on any time frame and financial instrument including stocks, Forex, indices, metals and cryptocurrencies
- News filter that prevents uncertain market moves
- Trades are closed on Trend PRO opposite signal
- Time filters and session filters
- Clickable dashboard for altering settings
- Partial closing of trades with custom percentage
Karlo has not disclosed to the public what strategy his product applies. We just find it odd that he has ignored the importance of furnishing the Forex community with details of how the EA works to implement trades. There is no excuse under the sun that would warrant him to hide the approach if he is sure what he has created really works. So, this only raises our suspicion.
Trading results
Backtest results are also unavailable. This is another big setback as it makes it impossible to know whether the EA performed well or poorly in the past. Furthermore, determining the ability of the robot to withstand tough market conditions is hard.
Fortunately, the trading stats are available on Myfxbook.com. See below how we have analyzed the data:
This is a real USD account operating under the RoboForex brokerage using a leverage of 1:500. It was opened on August 1, 2021 and has made a gain of 0.01%. Sadly, it has not been making profits daily. The monthly profit (0.01%) is also negligible. As a result, the deposit of $200 has only increased to $200.02. The drawdown which is 24.81% is high. Such a value will make it harder to recover the money lost.
The EA has made 23 trades with 0.46 pips. The winning rates of 25% for long trading positions and 45% for short ones are very poor. The profit factor (1.00) is also beyond disappointing. There are no significant returns on investment. The account has made 22.1pips. The average win is 40.25 pips when the average loss is -19.99 pips.
The account can be blown up very easily. When the system makes 49 losses in a row, then the entire account will crash.
We can see that the profits (0.01%) made in August so far are very small.
The robot traded with fixed lot sizes (0.02). It traded using longer time frames.
Customer reviews
A total of 6 customer testimonials are available on mql5. Most of them are positive. There are only 2 negative reviews. One of the disgruntled clients mainly complains about the fact that the documentation is not delivered at the same time although the review is in French. The other one complains about the EA’s settings not working. We wish that the clients would have also commented about the performance of the robot and whether it is satisfactory or not.
