Pinpoint EA is another robot designed by Ryan Brown, who is the developer of the recently launched Ranger EA. Pinpoint EA was published on October 29, 2020, and updated on January 12, 2021. Its current version is 1,95. It was a 1093 Demo downloaded. It’s official website is responsibleforextrading.com. However, if you want to buy the EA you will be automatically redirected to the MQL5 market where the robot is sold.
Ryan Brown in his Pinpoint robot presentation tries to convince us that his MT4 trading tool was designed to provide stable income weekly. He says that his EA has a 94% win rate and that it has never lost more than 2 trades in a row based on 17 years of trading history on the GU and EU. Well, how good is this EA? What advantages and disadvantages does it have? What trading risks can we experience with Pinpoint EA? Find out the answers and much more useful information in our Pinpoint EA review.
Pinpoint EA: Characteristics
This is a list of Pinpoint EA features:
- It trades daily and provides profit weekly
- Perfectly trades 2 currency pairs: EURUSD and GBPUSD
- The dev says it has a 94% win rate over seventeen years
- It trades on M15 timeframe
- The EA can boast 17 years of backtesting data on GU and EU
- According to its backtest report, the robot has never lost more than 2 deals in a row
- Traders can expect to have 3, 04% of the monthly profit on a 30:1 leverage account (default settings – best for GBPUSD pair)
- The system is FIFO compliant
- The robot is best used on an ECN account
To install the robot you have to double click the robot self-installer and open the EA on your MetaTrader4 platform. Go to the tools menu – options – expert advisors tab. Then you need to check the Allow Live trading and all the outer boxes.
After this, you need to click on the toolbar to start auto trading activation.
Currency Pairs, Strategy & Timeframe
- It was designed to trade 2 currency pairs: EURUSD and GBPUSD
- It works on the MT4 platform
- It trades on M15 timeframe only
- It uses Stop Loss and smart recovery system on every open position
- It uses 3 indicator combo to find the best trading opportunity with the larger trend
Pinpoint EA Trading Performance
The presentation is featured by two backtest reports for each currency pair the EA trades. The robot was tested with 99, 90% modeling quality backtest data.
Let’s analyze the trading results of the EURUSD currency pair:
The EA performed on the M15 timeframe. It used tick data from 17 years. It was tested with 99.90% modeling quality. The test started on May 9, 2003. The account was deposited at $1000. For 17 years of trading, the total net profit grew to 1405, 18% – $14, 051,75 of profit. Its average monthly gain was 1, 29% that lower than promised. The maximum drawdown was extremely high – 52, 89%. The robot closed 2591 deals with high win rates: 93% for the long direction and 94% for the short direction. Its profit factor was high – 1,92.
As you can see, the standard Lot size was 0,15. However, increased it in 14 or 15 times to recover after losses:
Using Martingale is a risky trading approach.
Now, let’s analyze live trading account of Pinpoint EA:
This is a live Demo USD trading account that is run by Trader’sWay brokerage. It trades automatically with 1:500 leverage on the MT4 platform.
It was added on myfxbook.com on October 22, 2020, and deposited at $1000. As you may see its gain, absolute gain, drawdown, and profit do not look impressive. We expected to see other trading results, the ones that could be compared with its backtesting results. The robot shows poor trading performance. Its total gain equals -12,56% and the average monthly gain is also negative ̶ -3.12%. Its peak drawdown was 24,06% which is too much for this trading account that has already lost -$125,59.
From October 2020 to February 1, 2021, its total gain did not exceed 7, 44%. On February 2, it experienced a rapid fall in terms of profit growth – 15, 16% (-$151, 56). That day the drawdown was 21, 03%.
The robot traded 71 trades with a 96% winning rate for long positions and a 94% winning rate for short positions. Its average loss (- $95, 92) is 17 times higher than the average win ($2, 38). Its profit factor is low – 0,56. The average trade length is 1 day.
The robot trades with sky-high risk to the account balance. It looks that the EA has broken the trading account:
It is too risky and dangerous to invest in this EA.
How much does it cost?
Pinpoint EA can be purchased on the MQL5 platform only. Its price is $ 397. This EA is also available for rent and costs $30/month or $90/3 months. Interested in the software traders can test the robot on a free Demo account. Unfortunately, a money-back guarantee is not included. It is not a good sign for the EA. Its devs should focus more on improving their company reputation and increasing their brand awareness than on asking traders to pay a high price for a little-known robot.
Reviews from customers
There are 3 customer reviews on MQL5. Two of them are positive ones. One trader complaints about the broken Discord group link.
Should You Use Pinpoint EA?
|We know who the developer is||Lack of trading strategy details|
|Backtest report provided||The robot uses Martingale for trading|
|Live trading results provided||The robot trades with insanely high trading risks|
|Unprofitable trading results in February 2021|
|Extremely high pricing|
|A money-back guarantee is not provided|
We do not recommend this EA to anyone. This EA is a scam that can only steal your money. It costs neither its price nor your time. We do not consider it to be the ultimate safe investment. Stay away from Pinpoint EA if you do want to save your money.