Pinpoint EA is a robot that was released on MQL5 on October 29, 2020. Its developer was Ryan Brown. People slowly check it using a demo download button. There were 11700 downloads in total. The robot was updated to the 1.95 version on January 13, 2020.
Pinpoint EA: To Trust or Not to Trust?
No, we should not. Now, the system is a scam.
We groped up everything useful we could find about the system:
- Pinpoint EA works automatically on the MT4 terminal.
- The presentation is one-page short.
- The system was tested on the 17-year trading data.
- The win-rate is over 94% (according to the presentation).
- Ryan Brown mentioned that the robot has never lost two trades on the backtests.
- The robot trades with a medium frequency.
- We can make up to 2.5% monthly using it with default settings.
- The system trades only EUR/USD and GBP/USD.
- It sets Stop Loss levels for each open order.
- The robot focuses on trading big trend moves.
- The system follows FIFO regulation rules during trading.
- It works on the M15 time frame.
- The default settings are best for GBP/USD.
- Having an ECN account is a good way to become more profitable.
- The leverage should start at 1:30.
Pinpoint EA costs $397 for a digital copy. We can rent it out for $30 for a month. The three months rent costs $90. We can download the robot to check it on the terminal for free. The developer doesn’t provide us with a refund policy.
Verified Trading Results
The robot was tested on a EUR/USD currency pair on the M15 time frame having used 17-year tick data. The modeling quality was 99.90%. The backtest was started on May 08, 2003, and finished on September 14, 2020. The gain has become +1,405.18%. An average monthly gain was mediocre +1.29%. The maximum drawdown was quite high – 52.89%.
Pinpoint EA runs a demo USD account on a Trader’s Way broker. It trades automatically with 1:500 leverage on MT4. The developer removed a Track Record Verified badge. So, we can’t trust upcoming data. The account was created on October 22, 2020, and funded at $1000. Since then, the absolute gain has become -11.72%. An average monthly gain is -2.61%. The maximum drawdown is high ─ 24.40%. Thirty-two traders track the account.
The robot closed 78 deals with 194.3 pips. An average win is 11.49 pips when an average loss is -163.90 pips. The win-rate is 94% for the BUY direction and 95% for the SELL direction. An average trade length is one day. The Profit Factor is low ─ 0.67.
The EUR/USD currency pair isn’t profitable now.
The expert advisor trades unpredictably during the day.
Monday is the most frequently traded day ─ 18 deals.
The developer doesn’t care about the account because the EA runs with insanely high risks.
The robot uses Martingale to increase Lot Size from 0.01 to 0.45 or from 0.03 to 0.36. If the market goes in the wrong direction, it zeroes the account.
As we can see, the robot couldn’t manage to recover February’s losses.
Since the middle of January 2021, the system has been sitting in the long-term and high drawdowns.
The account has a medium level of transparency. We can check open orders, but there’s no Track Record Verified badge.
The presentation includes four testimonials. Three of them are fake ones.
Ryan Brown runs a profile with a 5604 rate. There are two products and three signals on the board. Alas, the developer has only one friend on the friend list.