Man Amagate

A new forex robot called StealPips has just been released. The name says it all, you will be able to steal some pips to your account by using this robot.

If you don’t know what the term pips means, it’s the unit of price quote in Forex trading. Basically you want to win as many pips as you can to make profit. So saying “steal pips” simply means make more successful trades and make more profit.

To end I just want to say that as StealPips is a new forex robot, it’s unclear how profitable it really is. So if you’re getting it, make sure to test it well on demo account first.

Many people make money by trading Forex, but some do it manually while others use Forex robots to trade automatically. One of these robots is the new Pip Android. But I want to talk about is the types of proof of profitable automated trading there are that are needed to know if an EA software is any good.

There are three types of testing – back, forward and live testing. Each of these methods let the robot trade forex on historical and live data. Many times there’s just the back-testing provided as proof for an EA, and that’s not enough.

Pip Android provides live trading results and that is good. Now unfortunately we can’t tell whether those are really live trading statements, because the only difference from them and forward testing is that the latter uses demo account. The feed in both cases is the same.

What’s the difference you might wander. Well, there are more variables in live trading than using demo account, that can make the difference. That’s why only live trading really means anything.