Pinpoint EA is a Forex Robot that is based on 12 months of extensive development and more than 17 years of backtesting data. As per the claims made by the vendor, this robot trades almost every day and generates profits every week. It promises a high win rate of 94% which is quite the claim to make, although further investigation is needed to verify this.
This Forex EA is priced at $397, which is not exactly cheap, compared to other systems available on the market. You can choose to rent it on a monthly basis, however, by paying just $30 per month. A free demo version of the software is available for those who wish to test it before launching it onto the live market.
Pinpoint EA Trading Strategy
Pinpoint EA uses a combination of 3 indicators to find the most profitable trade supported by a major trend. It only chooses long-term trends and looks for positions within the pullbacks. By taking only trend-friendly trades, the EA is able to maintain high profitability.
Pinpoint EA has a smart recovery functionality that prevents it from losing too many trades in a row. In fact, the vendor claims that it had not lost more than 2 trades back to back during its long trading history in the EU and GU.
One of the indicators used by the system is the Relative Moving Index (RMI) and this allows it to identify the best scalping points in the market. This way, it can get in and out of trades in the quickest amount of time. While the scalping strategy takes advantage of small price shifts in the market to make steady gains, some traders consider this to be risky.
Pinpoint EA Features
When used with default settings, this Forex EA promises a monthly profit of 2-3% for an account with 30:1 leverage. It trades in the EUR/USD and GBP/USD pairs and uses a stop loss for each and every trade. It is a FIFO-compliant software that can achieve win streaks of more than 50.
Pinpoint EA Backtesting Results
This is the 17 years of backtesting data for Pinpoint EA conducted on the EUR/USD pair. As we can see, a profit of $5728 was generated by the robot during this backtest from a deposit of $1000. The daily and monthly gains were 003% and 0.91%, respectively, and the drawdown was 25.20%.
In spite of the drawdown being a bit high, we can see that 2526 out of 2696 trades were won during this test, and this represents a high win rate of 94%, as claimed by the vendor. The average win was 11.21 pips/$5.36 while the average loss was -152.03 pips/-$45.92. Apart from April 2020, most months were closed in profit.
For this backtest, the system had a profit factor of 1.73. While this is not spectacular, anytime a profit factor is greater than 1, it is considered decent. From the backtesting data, Pinpoint EA looks like a reliable system generating consistent profits.
Pinpoint EA Live Trading Results
The live trading results for Pinpoint EA look nothing like the backtesting data, since we can see that the profit is negative. After placing only 85 trades, the system has not been able to generate a net profit, rather suffering a loss of $94.28. Currently, both the time-weighted return and the absolute gain for this account stand at -9.43%.
Although 81 out of 85 trades have been won by the system, we can see that each of these 4 losses has been significant. While it is true that there are no consecutive losses to be seen, in one of the trades the account suffered from a loss of 21.14%, which is unacceptable. Such abysmal results are enough to deter any serious Forex trader from investing in this system.
Pinpoint EA Reputation
Pinpoint EA is a product from Responsibleforextrading.com, a company founded by Ryan Brown. He is an American trader who has 15 years of market experience. He has developed several Forex strategies over the years, and the Pinpoint EA is based on one of his most effective trading strategies. Apart from this, he is also known for developing the Ranger EA.
After consulting several websites like Trustpilot, Quora, Forexpeacearmy, and Myfxbook, we weren’t able to find any customer reviews for Pinpoint EA. It seems not many people have invested in this system yet, but that is not surprising given its short trading history.
Pinpoint EA Review Summary
- Strategy – 7/10
- Functionality and Features – 6/10
- Trading Results – 5/10
- Reliability – 6/10
- Pricing – 6/10
Conclusion
At the end of our assessment, we would like to say that Pinpoint EA is not a scam, since it shares both live trading and backtesting results on the official website. But since it has a short trading history characterized by some huge losses, we think it is risky to invest in it as of now.
