Pip Brains is a program that runs on the Metatrader 4 platform for people who do Forex, or foreign exchanging. It is an expert advisor or robot that is able to conduct trades based on its programming without requiring the trader to be sitting at their computers. Your part in the whole deal is quite simple since all you need to do is set the currency pairs in the program. Pip Brains will carry out and conduct all your trades for you based on the criteria that you set based on whatever currency pair you decide to trade with. The four that it focuses on are USDJPY, EURJPY, AUDUSD, and EURUSD.
Pip Brains has settings that have been programmed into it to allow it to work in the best way that it possibly can for you. The numerous features that Pip Brains has coded into it allow the program to be one of the best Forex robots available on the market to use. The first feature which should be noted is the profit and loss take and stop. This helps keep you from getting profits that are so small and significant that they shouldn’t even be considered profits and losing large amounts of money on the market. It also has a recovery mode built into it which can keep dangerous and large draw downs from occurring while you are using it to help you trade on the Forex market.
Filters are another huge selling point for PipBrains. You can customize these filters for both hours and days so you can determine exactly when trades are going to be attempted to be carried out down to the hour. You can specify which hours you want to be used for trading and on the contrary, what hours should be avoided for trading. This can help you once you are more involved in the Forex market and learn what the good and bad selling times are for the currency pair or pairs that you have decided to work with.
Risk control is another thing that helps newcomers to the Forex market. As a general rule, you want to use settings that are optimized to function on a low risk if you don’t know all the ins and outs for the market yet. You can increase your risk level once you get more adjusted to how it all works and are more comfortable gambling some more of your hard earned money on the Forex market. If you are using multiple expert agents, PipBrains has coding built in to allow you to see which tradeds it conducted so that you can evaluate and compare the results between the two programs or more that you may be using. This will help you assess how good of a job PipBrains is doing with trading.
One of the best parts is that you can select the optimal settings for four individual currency pairs so that you don’t need to do any tweaking whatsoever. It already has been done for you.