Pinpoint EA guarantees only profitable deals providing over 94% win rate and 2,5% of monthly profit. It is the result of twelve months of effort to develop a robot that could securely ’recoup losing trades over 17+ years of backtesting data.’ The dev also adds that his EA has never dropped more than 2 trades in a row testing on 2 currency pairs: GU and EU. The robot trades 24/5 and ‘turns out a profit every week’.
How good is this EA? Is it safe to invest in this recently designed trading tool? What trading strategy does it use? Find out the answers in our Pinpoint EA review.
Detailed Forex Robot Review
On the official Pinpoint EA website, we can verify backtesting and live trading results of the robot, analyze its key features, trading approach, and pricing details. Ryan Brown, the developer of Pinpoint EA, provides us with a 14 minutes video where he not only introduces himself but also goes on to explain how he used the trading experience to create this Forex EA and how a 90% win rate is possible. He tries to convince us that his product is not a scam, but an effective trading system designed to generate stable income and quickly recover after losses. Brian also adds that he has developed several Forex trading algorithms and implemented the most effective one into Pinpoint EA. This trading algorithm has been in development for 6 months, but Brian convinces us that it is worth it.
Ryan Brown has also a profile page on MQL5, where his product is sold. He has a high 6090 rating.
Pinpoint EA trades on a daily basis and maintains an optimum level of weekly profit. The other features of this expert advisor are:
- It works 100% automatically on the MetaTrader4 terminal
- It runs on M15 timeframe
- It trades EUR/USD and GBP/USD currency pairs
- It uses SL on every trade
- It trades with the bigger trend
- It uses a 3 indicators combo
- It’s FIFO compliant
- It promises a monthly profit of 2-3% on a 30:1 leverage account
- Its backtesting data shows a high 94% win rate based on 17 years of trading results
- Default settings are recommended for GBPUSD pair
- ECN account is recommended
Pinpoint EA Strategy Tests
On the official website of the developer, we are told that the robot uses a 3 indicators combo including the Relative Strength Index (RSI) indicator to identify the most profitable trades with the bigger trend. The robot takes positions within the pullbacks of the larger trend. Trades are taken only when the trend supports them. It allows the robot to achieve a high win rate. The robot searches dip inside the trend to make better entries. Its Smart Recovery system allows the EA to recover a few losing trades quickly and easily.
Backtesting reports are provided for both GBP/USD and EUR/USD currency pairs:
Let’s have a look at the GBP/USD currency pair. The test was started on May 07, 2003, and ended in 17 years, on September 14, 2020. The robot traded on M15 timeframe with 99, 9% of modeling quality. There were 433948 bars in the test and 254241779 ticks modeled. The account was deposited at $1000 and it managed to generate $ $10,481.29 of profit. Its total gain was 1048, 13%, the monthly gain was 1, 16%, and the daily gain was 0, 04%. The maximum drawdown was 18, 39%.
Demo Live Account Trading Results
Brian provides a link to the live trading account on myfxbook.com. The track record, as well as the trading privileges of this EA, are verified. This Demo USD trading account was added to myfxbook on October 22, 2020. It was deposited at $1000. The profit made by this EA is negative -$378, 81, so it is clear that the robot has experienced some huge losses along the way. It could be seen on the growth chart below:
The total gain is -7,88%, daily and monthly gains are -0.05% and -1, 52%, respectively. The maximum drawdown was on February 2, 2021, and reached 24, 40%.
It traded 89 trades and won 96% out of them. The profit factor is low – 0,78. The average trade length is 1 day. The win rate for Long and Short trading positions is 94% and 97% respectively. The average loss (-163.90 pips/-$87.94) is 14 X higher than the average win (11.54 pips/$3.21). It has nothing in it promised by the vendor Stop Loss protection system.
EUR/USD has brought only losses:
The robot trades with sky-high risks to the account balance. There is a 99, 99% chance of losing 10% of the account in case of 1 consecutive losing trade. In the case of 10 losing trades in a row, the trading account will be ruined.
In addition to this, the robot uses the Martingale trading approach to recover after losses:
There is nothing to talk about. The 2021 trading results do not look impressive.
The robot is available to buy for $397.
It is also available for rent. There are 2 options offered: 1-month rent that comes for $30 and 3 months rent that comes for $90. Traders can test the robot on a free Demo account.
The package does not include a refund policy.
The robot has a 4-star rating based on 4 customer reviews written on MQL5. Three of them are fake.
Only one review looks to be a real one. The trader says that the robot ‘does not make real trades with your balance’.
Pinpoint EA is a risky investment decision. The robot performs insanely high Martingale deals to recover after losses.
This trading approach is too risky thus, it sets the trading account at high risks – there is a 99, 90% chance of losing 100% of the trading account in case of 10 consecutive losing trades in a row. Its 2021 results look poor. Long story short, this Forex MT4 software is not worth even a dollar.