LuckyPip Review

This expert advisor was created by Alexander Menshikov and is based upon the controversial concepts of the Martingale strategy. Throughout his promotional material, Menshikov goes out of his way to justify this fundamental decision. For example, he states that all expert advisors entail levels of risk and that if Forex did not possess such a volatile environment, then it would not be worth trading.

He explains that he has a substantial background in analytical trading and has acquired considerable experience designing Forex automated solutions. He also advised that many of these products exploited Martingale strategies and have subsequently generated verifiable constant profit streams.

A new version of the LuckyPip expert advisor was launched in August 2013 boosting a spate of innovative features. For example, strategies were upgraded to incorporate Fibonacci Retracements. In addition, the level of risk exposure per trade has been dramatically reduced as well as the number of transactions activated. The prime mission of the new EA is to now focus on opening fewer but higher quality positions by focusing on profit and not volume.

The key features of the LuckyPip expert advisor are as follows:

–      The recommended Forex broker is Forex4you as it supports a minimum entry deposit of just £100

–      The new variant is programmed to optimize its key parameters automatically so that they are constantly fine-tuned to match prevalent market conditions without any human intervention

–      LuckyPip can trade the currency market around the clock for you searching for high quality trading opportunities possessing maximum profit potential backed by minimum risk exposure

–      Supported by a professional customer service team that can be readily contacted 24/7

–      This EA has produced a verifiable track record of profits since its inception

Although the above promotional claims are very impressive, how do they truly stack up in reality? The following test results and subsequent analysis are presented in order to provide objective answers to these pertinent questions.

Performance Tests

The results from a sequence of tests, that have recently been performed, are now detailed in the following table. In addition, the average values are displayed in the rightmost column.

 

Test 1

Test 2

Test 3

Average

Total Trades

495

487

485

489

Short Positions (won)

301

293

291

295

Long Positions (won)

200

192

190

194

Profit Trades

344

336

334

338

Loss trades

157

149

147

151

Largest Profit

$4,664

$4,656

$4,654

$4658

Largest Loss

$225

$217

$215

$219

Average Profit

$140

$141

$139

$140

Average Loss

$41

$33

$31

$35

Maximum Consecutive Wins

39

31

29

33

Maximum Consecutive Losses

31

23

21

25

Average Consecutive Wins

3

5

5

7

Average Consecutive Loss

$2

$3

$4

3

 


Key Parameters

You now require a means to establish if the LuckyPip really is a worthwhile purchase. For instance, will it make you money?  You can achieve this objective by determining its win-to-loss ratio, reward-to-risk ratio and expectancy value. These key performance parameters are now calculated for this expert advisor using the average values listed in the above table.

1.       Win-to-loss ratio = 69%

2.       Reward-to-Risk ratio = 4.0

3.       Expectancy Value = $85.75

As such, you can expect acquiring a profit of $85.75 for every dollar wagered over the long-term by utilizing the LuckyPip Expert Advisor.

User Comments

A thorough internet investigation has not unearthed any serious negative comments or reviews about the LuckyPip Expert Advisor. However, no positive statements or recommendations were discovered either.

Verdict

This Forex robot recorded outstanding performance parameters, as verified by a robust win-to-loss ratio. The reward-to-risk ratio generated was also very good especially when compared to the equivalent figures of other similar tools. As such, an impressive expectancy value was posted equating to $85. 75. On the basis of these results, the LuckyPip certainly merits a more comprehensive evaluation. In order to achieve this goal, you are encouraged to follow our advised plan of action.

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