In today’s post, we review Pivot Trader Pro, an expert advisor owned by Doug Price. It is fully automated, eliminating human interference from trading.
This is yet another forex robot by Doug price. See the others here. We aim to find out if this is any different from the other EAs by Doug. Is this robot legit? Does it make any money? What do forex traders say about it? At the tail end, we give you our final verdict on this EA.
What is Pivot Trader Pro?
Pivot Trader Pro is an automated forex trading robot that utilizes the MetaTrader4 platform. Developers aim to eliminate the need for technical expertise or trade expertise in forex trading.
The website states that it uses multiple strategies to win trades. It claims that this EA has many features and verification to ensure it trades at low risk.
Trade Management: The EA looks to manage trades once entries into the market are made. This strategy involves reducing StopLoss during price movements.
Money Management: The creators claim to have the best money management systems. The EA uses an algorithm to continue trading once a user selects their risk factor. The robot increases your lot size with your account growth but avoids increasing the lot size at a rate that is not in your risk setting. It also puts into consideration other trades in your account.
Triple Trade Verification: The developers claim that this robot can filter bad trade signals before they happen. It utilizes three tools to filter out bad signals, including oscillator filter, trend verification, and candlestick close.
Multiple Pair Support: This EA trades 6 currency pairs including USDCAD, USDJPY, AUDUSD, NZDUSD, EURUSD, EURGBP.
Pivot Trader Pro Notable Features
- Easy to install
- Free Updates & Settings
- Customer Support – Available 24 / 7
- News Notifications
Now that we have seen the strategies utilized, lets look at the performance.
EA Review: Pivot Trader Pro Stats
There are no backtests provided. However, we get results from real verified results from Myfxbook.
Results show moderate growth over a period of 2 years. Profit stands at $46,195 from an initial deposit of $4,985. The drawdown stands under 25% which is not bad. However, there are some concerns. The real account stopped updating in 2017. Additionally, the gain and absolutely gain are the same.
Th last few months when this EA was last update show little to no growth. Essentially, this means that the account was on its way to a blow out. Compared to the average growth rate of 7.6%, the last three months show very poor performance. The account was about to go into negative territory before updates ceased.
I total, this EA conducted 496 trades. Out of the 496 trades, the robot had a win rate of 97% representing 479 wins which is extremely impressive. The average trade length is 5 days. The profit factor stood at 4.01, which is extraordinary.
We only found a single customer review for this robot. The user seems to be quite happy and rates this EA highly. Taking into consideration that this EA has been around for quite some time, we expected it to record some more reviews.
But with all Doug’s automated expert advisors we have reviewed, they always blow out at some point. We believe that traders caught onto this fact and decided to stay away from this bot.
Doug Price is well known in the automated EA space. He claims to have made millions of dollars for investors before he decided to develop forex robots to assist al traders make money. In this website, he cites individuals such as Warren Buffet and Bono who made millions in Money market trading.
While this might be true, there seems to be an extreme sense of desperation to market this EA. He promises extreme profits from small investments.
Pricing and Refund Policy
This robot is offered at a price of $799. There is also a monthly payment plan where you pay $347 for three months. The website accepts payment via Skrill, Visacard, Paypal, and American Express.
The website offers a 60-day money-back guarantee. Doug claims that the refund is unconditional within 60 days. You can try out the system on DEMO or LIVE and switch accounts anytime. If you find that for a reason you are not happy, then just let Doug know to do a refund
However, we cannot verify if Doug actually honors the unconditional money-back guarantee.
Results from the real account are not awful. However, updates ceased in 2017; therefore, we have no idea how it would perform in the current market conditions.
With one customer review, we cannot conclusively infer what traders feel about this forex robot. We recommend that our readers stay away from this EA.
Our Final Thoughts
Doug Price does an excellent job in stating the strategies he is using in this EA. However, from the website, he seems to be overpromising. Some statements seem to push users to believe that trading using this EA is a quick get rich scheme.
The price is also prohibitive. At $799, this EA is priced on the higher side. Another concern is that real verified accounts are not currently maintained. Therefore, traders have no idea how this forex robot is performing currently. We advice traders, especially beginners to avoid this EA for now.
If you have any experience with this EA, please leave a comment below.