Here you will find the answer to the most common questions asked about PipGenius TradeManager. If you don’t find the answer to your question here, feel free to send us an email and we will answer you to the best of our knowledge.
- How much money do I need to trade the PipGenius TradeManager?
If you are trading manually there is no problem to start with $100 and 0.01 lot on a std. account pr. pair. If you go full auto, we recommend $1000 and 0.01 start lot. But there are no guaranties!
- What kind of accounts can I trade PipGenius on?
You can trade the free version on demo acc. When you decide to go live trading, It gets locked to your live account number. If you want to trade two live accounts, you just register for another account.
- Can I use it on ECN accounts?
Yes you can use it on ECN, classic, cent or pretty much every account type there is.
- May I trade all pairs?
The PipGenius can be traded on the 25 currency pairs that is on the frontend buttons. But remember, there are pairs that are more volatile than other, like GBPJPY. Trading these pairs will likely give more profit but also higher risk.
- Do I have to think about spread?
There is no problem to trade with high spread but remember that it steals from your profit. It is easy to calculate, if you use a broker where the spread is 5 pip higher in average comparison to another broker and you are trading a $1 a pip- you are missing out on $500 pr. 100 trades taken. And this is money you want.
- Can I start PipGenius and just let it run without doing anything?
Yes you can in full auto, but it is always recommended paying attention to big news and other happenings that may cause big moves. There is also a question on your settings and size of your account. If your account is big enough for your settings, you may just let it run.
- Can I trade several pairs at the same time?
Yes, there is no problem to trade several pairs, but you must remember if you trade several pairs where one of the currencies are the same, like EURUSD and GBPUSD. Moves/news that concerns the USD in this example will most likely cause a move on both pairs at the same time. This may make your drawdown bigger.
- Can I backtest?
No, this is a multi-currency EA and that makes backtesting difficult. Forward test on demo and learn along the way.
- How about Support?
When you buy PipGenius you get free support and updates.
- Will I get rich?
Well… only time will tell 😉