Introduction - Unleashing the Potential of Pips Slayer Trading Robot
In the world of Forex trading, Pips Slayer stands as a renowned name, gathering some recognition in the industry. Its efficacy is, however, a contentious issue, given the mixed user reviews. For instance, we have genino who would describe it as a Very good Indicator! On the other side of the spectrum, we have 1805744, who doesn't seem that impressed, stating So far mostly wrong. Lastly, we have hunter217 who is still in the studying phase, expressing it as, da studiare, grazie mille! Opinions vary, and ours? Well, we're from the EASY Trading Team and we always have that skeptical arch to our brows.
Detailed statistics of Pips Slayer are up for your perusal on this site. We'll now explore the setup and optimization of this trading bot, despite its rating of 3.75. Don't get too excited, this isn't Christmas morning.
Installation and Configuration - Setting up Pips Slayer
Before we delve into the nitty-gritty, remember, this is not a walkthrough of how to make a robot from the original source code. It's more of a generic 'how-to' based on available bot descriptions.
First, download the bot, then open your MetaTrader 5 platform. Click on 'File', then 'Open Data Folder' and finally, 'MQL5'. Copy the bot into the 'Experts' folder. Refresh your 'Navigator' pane, or restart the platform, and you should see Pips Slayer under 'Expert Advisors'.
For configuration, right-click on Pips Slayer and select 'Attach to a chart'. The 'Properties' window opens. Here, you can customize several parameters such as LotSize, TakeProfit, StopLoss, and more, depending on your trading strategy and risk tolerance. Sure, it seems sophisticated, but remember, it's not a guarantee of profits.
Experience - Using Pips Slayer to its Maximum Potential
In our experience, Pips Slayer acts uniquely on different currency pairs and timeframes, boasting different levels of effectiveness. It may be tempting to set a high LotSize for immense profits, but hold your horses. If it sounds too good to be true, there's usually a worm in the apple.
Improvement Tips - Optimizing Pips Slayer's Performance
To squeeze out the best performance from Pips Slayer, consider adjusting the 'MagicNumber' parameter to avoid order conflicts. The 'TrailingStop' feature can be tweaked for locking in profits. It's not a magic potion, but it might just add that extra pips into your pocket.
Pips Slayer Source Code - The Mystery Unraveled
Let's be clear, we don't have the actual source code of the Pips Slayer, the one being sold on MQL5. What we can do is generate a code based on the bot's description. If you have any questions regarding this code, by all means, spill them out. Please note, this is a code example from easytradingforum.com, based on Pips Slayer's description being sold on MQL5.
Code:
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Want to test out the Pips Slayer for yourself? Head over to the website and download the bot. Remember, the EASY Trading Team doesn't sell Pips Slayer. We only provide a guide to the bot, based on its description. So, have fun trading, and don't forget, there's always more beneath the surface than meets the eye.