Has anybody taken a look at Xtreme Pip Poacher? I have been running it on two small live accounts. I have felt pretty good about it. I am up over 7% in just about a month. I have had 80% winners in one account and 84% in the other (10 and 13 closed trades, respectively--note, even though profits are taken in two separate halves, I am treating only as one trade). I have set the risk level at 3%, which is tolerable for me. I am trading it on 6 pairs (EURUSD, GBPUSD, USDCHF, USDJPY, USDCAD, AUDUSD).
I'm impressed with the money management (taking profits on 1/2 the trade and then moving stop into profit area and continuing to slide more into profit if the currency pair moves more into profit).
I looked at what 8% per month compounded can do over 5 years and if it remains consistent (or better, in a trending market), the results would be very satisfactory.
Collinson, the creator, doubled a $90k account in 6 months (that would be 13% per month, compounded). His results were not over August. I'll be interested to see if it is able to perform better in the fall.
I would be delighted to hear anybody else's experience with XPP.
Hi Roger
And welcome to the forum.
I was looking at forex peace army forum concerning pip poacher and found many unpleasant comments. It appears it is a copy of an older EA (robovore) that did not work particularly well.
My experience with their sales page is a pain if you do not want to buy the product. You keep getting those "wait do not press cancel and you will get a present" but I had to ctrl-alt-delete the browser to stop them.
I would suggest to the forum members to wait till Roger tells us more about his experience,trades,profits etc before going on visiting the home page of pip poacher.
I wasn't necessarily recommending everybody go out and buy it, but hoped somebody already had and had some experience to share.
The system is not perfect. If it happens to go the wrong way on a trade, it does have a fairly large SL (with corresponding smaller lot size) and can have an open trade for some time. I had a GBPUSD trade opened about a month ago and it is still open (at a small profit-87 pips). Other pairs have had numerous closed trades.
I am very interested to see what happens when we move out of August into the fall.
Finished the first full month up 6.52% and 7.76%. It had been up to 10.3% the night before the end of the month, but swooned into the close of the month. But, it has recovered on the first day of the new month and is up 2.63% and 2.35% in less than a day. When it goes negative, it doesn't seem to go down more than 2-3%. A low draw down I like. These trades are not scalps, they are "short-term" position trades, with the large majority closing within 2 days to a week.
As an aside, it is interesting to observe my own reactions to a move against a postition . I wonder whether I should close early before going all the way to the stop loss. Fortunately I have been able to keep my hands off to really let the system run and see how it truly performs.
Account #1 had 11 winners and 2 losers (closed trades) during August - 84.6%.
Average win = 1.2%
Average loss = -1.62%
Largest win = 2.19%
largest loss = -2.33%
Account #2 had 8 winners and 2 losers or 80%.
Average win = 1.54%
Average loss = -2.39%
Largest win = 2.20%
Largest loss = -2.56%
Why the difference? I set up one account after the other (same day), but the difference in timing could mean making a trade or not and could possibly mean trading in a different direction.
I used percentages because they have more meaning than dollars or euros or pips. Dollars are meaningless without the amount invested and pips are meaningless without the amount risked.
For those of you who think that you have to make several times what you risk on each trade, lets take an easy to understand example. Each win you earn 1% and each loss you lose 2% (you lose twice the amount you earn per trade). You win 80% of the time. What is the average return per trade? = .8*1%-.2*2% = .004.
Thus, this system that loses twice as much as it wins but wins 80% of the time earns .4% per trade. If you make 10 trades per month, you have made 4% on your investment.
4%? If you earn 4% per month compounded $1,000 account will grow to $10,000 in 5 years, earning $400 per month. But if you make it 8%, then in 5 years it grows to $100,000 churning out $8,000 per month. I'm not looking for the 50-100% per month, but rather the 8%.
It may have some meaning for some, so here is some additional info. Account 1 - 1,510 pips won and 411 pips lost. Account 2 - 1,214 pips won and 557 pips lost. Lot size does vary depending on currency and stop loss. Also, where a trade is closed in two halves, I have taken the average of the two as the amount of pips won.
So, it looks like winners are ~ 150 pips and losers are 200-280 pips.
Account 1 had 2 Swissie winners, 2 Canadian dollar winners, 3 euro winners and 4 yen winners. It had 1 Swissie loser and one Canadian dollar loser.
Account 2 had 2 Canadian dollar winners, 3 euro winners and 3 yen winners. It had 1 Swissie loser and one Canadian dollar loser.
I have had a pound trade open almost all month (up 78 pips). I have also had a Aussie $ open about half the month and spent most of the time down but has roared back to up 72 pips). I currently have 1 trade open in all of the six currency pairs. The system only makes one trade at a time in each currency.
I ponied up for the updating service which recalibrates the system on an ongoing basis (every couple of weeks or so).
Up over 4% for the month (after the farm payroll report) and rising. I have to say system performance to date is making me happy. I can see that, as with any robot, an area of concern is when you have a market paradigm shift (change direction, move from ranging to trending or vice versa, etc.), how does it deal with that. How quickly does it adjust to that (if at all)? Does it perform better in a ranging market or in a trending market? I will be interested to track this one.
I have to say your experience sounds really good, and 8% per month with low DD is exactly what I'm looking for. However having a look at forward-test on ForexPeaceArmy the results in August are quite different from the one you are having.
Can you tell what's the difference in the 2 installations?
Thanks for your contribution to this Forum, much appreciated.
Would you have any objections to creating an account with http://www.mt4i.com/and linking it to your account (it can be configured to be completely anonymous).
This EA sounds very promising and it would be great to get more information from a regular user like yourself.
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Xtreme Pip Poacher
I am up over 7% in just about a month. I have had 80% winners in one account and 84% in the other (10 and 13 closed trades, respectively--note, even though profits are taken in two separate halves, I am treating only as one trade). I have set the risk level at 3%, which is tolerable for me. I am trading it on 6 pairs (EURUSD, GBPUSD, USDCHF, USDJPY, USDCAD, AUDUSD).
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. I wonder whether I should close early before going all the way to the stop loss. Fortunately I have been able to keep my hands off to really let the system run and see how it truly performs.
