I ended this subscription after the system showed some heavy losses. But, to my good fortune, I returned about a month and a half ago after it looked like the developer was back to steady profitable trades. Rebuttal by the developer to some past reviews indicate that the subscriber needs to be alert to placing stops on these trades. If this is something you care to do, and can be successful, then this system should be like a piece of cake.
The current big drawdown is the latest of a string of bad trades that the sp holds on to in the hope that they will recover. Each time it happens the subscriber is left wondering whether this is the one that will wipe his account out - this is gambling not trading
It's great when a developer believes in a system. It's absolutely stupid when a developer believes he can do no wrong and isn't smart enough to get out of a losing trade, but rather doubling and then tripling down in order to claw back the losses.
And when the developer says he is "TOS", look at how much he is trading - $10,000 is the investment.
Prasie be to god that he hasn't lost more than what he has already lost...
Extremely dangerous trading system. Monte Carlo simulation shows probabilities of future account loss are huge, while average monthly returns during the last two quarters are only 3.5%. The question is not if, but when. We came very close to the end with 65% DD on just one trade and this easily could have been 65% or even more account loss. It was a miracle that we survive this trade. I would like to see vendor to go through 65% DD while is trading the REAL MONEY, NOT DEMO account.
On 10/20/12 system started a trade which, by tripling down, risked $163,450 (a drawdown of 64.90%) in order to make $3,224 profit. Before that it also had huge drawdowns. Vendor does not seem to have much faith in his own system since he trades it with only one mini lot. Unless the developer pledges not to double or triple down in the future and keeps his drawdowns at a reasonable level this system is very dangerous. Caveat emptor.
I subscribed to PIPALER 30 days ago. I think the system waits out times of high volatility and takes its profits in slightly calmer markets. The manager takes profits when they are there. He also takes a small loss in order to exit position which is about to backfire or exit position which went bad but has a temporary recovery. Both are very much appreciated, as I hate draw downs which are all too common for all FX systems here. I do hope we will avoid big draw downs as I am somewhat "allergic" to them. :-) The history shows the manager has staying power and can generate consist profits. I was subscribed to a lot of systems this is one of the last 2 I am running.
I have subscribed to several systems on C2. This is one of two left. Consistent smart entries and exits and a great record. VERY long history for c2 so you know it is not a flash in the pan. Highly recommended!
Well managed system with great entry calls. Larger draw downs are there but infrequent. Creator communicates well, and the equity curve speaks for itself. If you're prepared to sustain the occasional short term drawn down, this system can be quite profitable.
A great short term trading method that takes advantage of volatility. As can be seen from the equity curve, taking advantage of volatility can lead to unconfortable riding of a draw down from time to time however with good knowledge of market behaviour this is benefited from historically with PIPALERT. Requires comitment and guts to reach well earned gains and enviable overall statistics.
This is a total non technical review, justified by some recent unfair comments. I am autotrading this system. I closed that trade at a loss but relatively early, however past experience shows that this system has "hiccups" from time to time which are well recovered. I trust it will happen again. Unfortunately drawdowns do and can happen. At the end Pipalert is still up some +40% YTD, has more than two years of life and its performance has been positive: it has gained a lot of chances to show its resiliency. I can be wrong but I am sticking with it. All my sympathy to the developer in such a difficult moment.
The trade currently at -39% was my first one with the system. Bad luck. I only lost 2%, with stop loss. I did some analysis on it and it's risk/profit ratio is about 5:1 avg. If it was 1:1, profitable trades = 40%. It's quite stupid to use martingale trading like this, but if you didn't see the crash coming, you need to look at the chart more carefully. Each drawdown was recovered from by 3x position reinforcement. Risky and stupid. Would be a much better system if it had some losses in it. It's not useful for trading but it's ok as an advisory indicator if you are trading FX. For the price of subscription, you can use it to support your own decisions. It had some good calls overall. That is, if it will not be shut down after this. Too bad,with some losses it could have been a good system.
Basically you dont believe in stop losses because wow you only have 3 losing trades. Well crash and burn seems to be the route many go with on C2 and you def are a crash and burn mentality to make the "percentage good." No thanks anymore! Thansk for the little bump in money and then throwing it all away.
Yet one more high flying system at C2 bites the dust. Unable to fathom the gunslinger mentality of most developers on C2. Just when things are looking good, they go ahead and shoot themselves and their subscribers. What a pity!
I guess I will be the first to rate this disaster. The current trade should have never been kept open over the weekend heading into the EU Summit. It probably would have been prudent to stop all trading late last week. Certainly as an investor I could and should have stopped the trade on my own. High win-rate forex systems always end in disaster. This may not be the end of Pipalert but I have lost confidence in the system.
Impossible trade because open the orders at market and i trade manually and i dont have time to make trade. I see this system only for autotrade, but i am interesting only in continue with my broker, because of this i unsuscribe it.
Use system at own peril. Although winning percentage is high, vendor uses no stop losses and waits for reversal back. Very dangerous as can see from closing trade on 7/15/10. Need an iron stomach for those drawdowns.
I dropped the system after it went from a fee of $60 per month to $60 per profitable trade. If you use a stop loss you will most likely stop out of your trade. I never got a chance to give a good review as the fee changed right after I subscribed.
This system has no risk management at all. It relies on waiting until the prices become profitable which may not always happen. Charging $60 per profitable trade recommendation is very expensive unless you are trading a very large account. This type of pricing further encourages the reckless risk taking behaviour by waiting until profitable to ensure the fee to the provider.
The system actually has two sides. It provides nice small returns on a study basis. However, if you look deeper, this is mostly based on allowing several magnitudes higher intermediate drawdowns, as the system does not handle any kind of stop-loss - and perhaps reenter later at a more favorable price.
So, the question is: are small returns the high drawdowns worth.. you may risk all this.. - everyone has to answer this for one-self. But if you trade it: trade it only very small leverage..
