Million Dollar Pips – Forex Robot Review

Forex Software on February 8th, 2012 140 Comments

Million Dollar PipsMillion Dollar Pips – Forex Robot Review

Updates have been pretty frequent lately guys, I have another forex robot here to discuss. I will take a look at and break down a system called Million Dollar Pips.

See how a shockingly accurate Forex robot skyrocketed my Forex earnings to over 2 million while I kicked back and did nothing.

FRN Testing: 

From the start, there is one thing that I like about million dollar pips immediately. They are using myfxbook to prove some of their results and most people feel that this is a very reliable statistics provider. So right away how about we get into the results.

Million Dollar Pips Results

Looks pretty good, I have to say. I am surprised today is the first day I have heard about this forex robot. So lets go over some of the basic properties that make this Forex robot what it is:

  • This is an automated Forex trading robot
  • It utilizes a safe and unique scalping strategy
  • Million Dollar Pips has effective money management
  • It does not use any martingale strategies
  • It is NFA compliant

There is one oddity that I have found on the Million Dollar Pips page. This is some of the results they provided outside of myfxbook. If you scroll down the page there are some supposed live results but they stop on the 24th of May. Maybe they stopped running this account, but if they have they should have removed this from the Forex robot results.

If you have any information you would like to add to the million dollar pips review please leave a comment below. Start the discussion and we will find out exactly what this million dollar pips system is all about. Let me know if you need any help!

Try Million Dollar Pips

Million Dollar Pips

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140 Responses to “Million Dollar Pips – Forex Robot Review”

  1. Doris says:

    I’ve bought it last week. So far so good, but may be due to my broker (Hotforex) or VPS’s latency, some trades are missed (compared to their myfxbook: http://www.myfxbook.com/members/milliondpips/million-dollar-pips/114107). But the overall results are quite impressive. Therefore I’m thinking to open account with its other recommended broker – Thinkforex which have free VPS with no latency.
    Also, the support is good, emails are replied within few hours.

  2. RTRT says:

    Doris, do you trust Hotforex ??? I am in Finfx, and it is losing because of the high spreads(18-24) pips….Does this work with Standard account in Hotforex ??? Or do you have Currennex ?

    Thinkforex does not accept US citizens…..I’ve heard that their free VPS gives them too much power over your account….

    Yes the potential for MDP is good…

  3. Jeroen says:

    Hotforex is strange, but MDP seems to work very well on it.
    Started this week with €90 and at this moment i’m up by €41. (real account)
    thinkforex (real) also works fine, a lot more trades but not so profitable, there are much more losers between the trades. 1 actually think the latency is helping us out @hotforex.
    BTW the myfxbook link is from a DEMO account so you will never get the same results on a real money account.
    Support is BEST EVER! many nice updates and fast reply’s.
    Looks like the real deal here!
    Happy trading :)

  4. Doris says:

    I’m using standard account with HotForex, spreads of EUR/USD is around 1.7-1.9. I use default settings just alter the risk to 0.5 (as I still have other EAs running, just don’t want to risk too much). So far seems fine with HotForex just with less trades. I’ve email William (MDP), he recommends brokers with spreads around 1-1.4 to work best with MDP. I appreciate William (MDP) keeps improving his EAs and updating the version to make it works on as many brokers as possible.

  5. N. L. says:

    Does this one trade with a Stoploss or is it internal? Also, did anyone purchase the UsdJpy version?

  6. RTRT says:

    It is internal and it goes so fast, when it does trade the EurUsd , you are at the mercy of the EA….I have the usdjpy but it doesn’t play much…I just got the new updates, so we’ll see how it goes…

  7. RTRT says:

    Good day so far on USDJPY, finally played with new version…10 for 10 $65 on small < $1000 account……5 sets of orders…..Eurusd 1 order $21.06

  8. Doris says:

    New version 1.1.4 for EURUSD didn’t open any trade on my broker HotForex (standard) but its myfxbook open many profitable trades. I will try to switch to GoMarkets after funding next week, see if it can improve.

  9. RTRT says:

    I’m on Hot forex Currenex…It does very well, but it has missed enough trades compared to the demo account on fxbook…I’ll move it to level 3 and see if that makes a difference…With the new doubling of orders plus the max orders and order levels, it should have more trades than the fxbook…On 1.1.3 the Eurusd use to trade more than the fxbook even at level 2…The usdjpy did 5 sets of 2 so I know the doubling works for the usdjpy…The eurusd did only 1 order so far…

  10. RTRT says:

    Another note…Take into account that Currenex has the lowest spreads, but with commission..Also the bonus is a factor that has to be paid off…..With Currenex plus the commission seems to be equivalent the spread of the standard account….

  11. Doris says:

    Finally switched MDP to GoMarkets (EUR/USD spread 1.1-1.4, they don’t charge commission) & changed the level to 3, risk to 0.1 (trade with 0.02 lot). 1st day 5 trades opened (vs 10 trades showed on myfxbook) profit USD6, result seems OK & better than HotForex standard but still can’t match with its myfxbook trades. Will increase the risk level.

  12. RTRT says:

    Terrible morning….Somehow my Hotforex platform got stuck on one spot of the charts…It must have hit an order loop, made 41 orders, loss $300 and would be still ordering had I not checked on it this early morning and turned it off….So this morning I checked and saw that it was using up a lot of memory so I closed and re-opened the terminal to get it back to normal…I wrote this to Mr Morrison and I am awaiting an answer…Until this happened it was ordering less than the fxbook…I’m hoping this was just a fluke, but there goes my bonus…

  13. Doris says:

    Sorry to hear about that, did it stuck on EUR/USD or USD/JPY or both sets? I’m considering to buy the USD/JPY set…hope you can share your results here.
    GoMarkets missed profitable trades today – only two 12:52 trades opened but closed at small loss–profit shown on fxbook is due to low spreads? I’m wondering whether the missed ones are due to “Additional Channels”..I’ve just changed it to 4 and wait next trade to see…although William said fxbook’s setting is default…
    Hotforex Currenex running ok for MDP? Will change my existing Hotforex standard to currenex account next week..and continue testing live with low risk level first….

  14. RTRT says:

    My misfortune was on EURUSD….USDJPY hasn’t played since the 6/30….Missing many trades on Eurusd at level 2…Only 1 trade for -$6 yesterday…No response on what happened the other day…My best guess was that it was a no-no during a backtest while the live account is on at the same time….My reason was that for any new version, I like to backtest them to see what has changed profit wise…I am reluctant to go to level 4 because the profit factor goes down, the winning percentage goes down and I’m paying commisions that brings the overall profit down per trade….

  15. RTRT says:

    Just went 0 for 5 on USDJPY and 2 for 2 on Eurusd net -$20

  16. Doris says:

    I’ve changed level to 3 with additional channels set to 4…still only 6 trades open on my live (ended up with small profit) vs almost 30 trades shown on myfxbook (just today)…crazy…How many trades you open today on Currenex? If matched with myfxbook…then a big profit to cover your loss the other day.

  17. RTRT says:

    Just as I said in previous letter…I wrote Morrison with the same message…Only 1 MDP Eurusd at a time….Something is very wrong….When I was on 1.1.3 I was getting more than the fxbook results…1.1.4 and 1.1.5 only 1 at a time…When I was on Finfx I was getting almost 1 for 1 trades with fxbook, except more losses since it had higher spreads…

  18. Doris says:

    I also have the same question, 1.1.4 & 1.1.5 didn’t open any trade on my live hotforex standard account but many trade when using 1.1.3…it’s better after I switched to Gomarkets. Doesn’t Finfx have low spreads? Yours–ECN account?…I’m thinking to open a Finfx ECN and buy an additional license to run on it to see if the results match…Although I can change my existing hotforex standard to currenex, the commission seems higher than Finfx.
    My live account for your reference: http://www.mt4i.com/users/ombhrum

  19. RTRT says:

    My thinking too for Finfx…The ECN is Currenex so it should be the same…I had a micro account and the spreads were not great….Yes, there commission is lower….I needed a $2500 account to start ECN that is why I switched to Hotforex…I hope to be back, using another license…I never kept copies of previous versions of MDP, so I was updating each time…1.1.3 didn’t have USDJPY so I couldn’t use both until 1.1.4…I excepted each version to improve, but I think 1.1.3 was the best so far….I’m sure he’ll bring the next version up to speed if enough customers speak up….

  20. C Tom Red says:

    I started a real ECN account with FinFX because my demo account with them had done so well. 5 days later I’m at a loss of $945.00 on the real account but, the demo has increased $200.00. I’m using v1.1.5 of MDP and trading with the default settings. This EA seems to only work on a demo account!

  21. RTRT says:

    Hello Tom,

    Was your amount of trades close to the fxbook posted on website ???
    I’m not too happy with 1.1.5 and I wrote Mr Morrison and told him it was the worst…No comments in response…I also told him that I’m looking forward to 1.1.6 ….I suspect I may be having problems with my Hotforex MT4 so, I plan to download a fresh MT4 this weekend…

  22. Ral says:

    Hello Guys,
    From experience this bot works best on demo account. So i use it on demo account with a trade copier..SO when trades are place on demo account they are copied to my life account Instantly. I think it is best that way.

  23. RTRT says:

    Very interesting…What demo and live accounts are you using ?? What trade copier are you using ??? Does it copy the same lot sizes over to the live account ???

  24. Ral says:

    My live account is with Exness and Hotforex. I use “meta trader account copier”, the fastest i know. Lot size can be changed from the trade copier settings. You can download and try the copier from 4shared but its a demo version and would only copy buy orders.

  25. Ral says:

    Demo is ThinkForex

  26. RTRT says:

    US citizens not allowed on Thinkforex, but many ideas opened up to me….Thanks Ral

  27. Doris says:

    Ral, I’ve also considered to use your method before, just don’t know whether it’ll work..as different brokers have different spreads. Can you share your results using this method?

    So far, my live GoMarkets account seems working fine with MDP, at least in profit around USD100 till now (http://www.mt4i.com/users/ombhrum)..click Stats-EA..Magic#112226.

  28. FS says:

    Hi,

    I am interested in buying this piece of software. I am interested to know what broker would you recommend using with it?

    I live in Australia by the way if location/citizenship is a consideration.

    Thanks,

  29. DaggerDirk says:

    http://www.forexcopier.com/Home/Purchase
    This copier at USD$149 would seem to be the answer for getting productive MDP trades from a frisky and profitable demo account across to your live account on the same (or a distant) computer – and supposedly within 0.5 seconds. The live real money account can be with the same or a different broker.
    If anybody uses it to generate a live (from demo) trade, can they report here? There is a demo version available but it has some restrictions on its trading capabilities. It may however give one an idea of what could be expected from a transcription of those potentially productive MDP DEMO trades to a live real money account.

  30. Ral says:

    HI Doris, Results rarely varies. However it depends on the EA. A high speed EA like MDP requires a high speed copier. a pair with very good tick an so on.

  31. Doris says:

    MDP has added another recommended broker Pepperstone..anyone can share result using this broker?

    Ral, what copier are you using? I think it will be great if MDP can offer master/slave service..but that may have a monthly fee incurred. I don’t mind my trades not exactly match with myfxbook, have profit is my target…so just need to find a broker that can profit using MDP.

  32. Ral says:

    Here I have uploaded trade copier .Manual is included It is free and is far better than most of those paid ones. automatically remove suffix and prefix, adjust broker time differences and so on. Copies trades in less than one second, and can copy from investor password logged in account. Enjoy !!

  33. admin says:

    Looks good Ral, thanks for that.

  34. Doris says:

    I’ve also tried it a little bit..it worked (not all trades copied)..but was troubled by the settings. HeartbeatPeriodSeconds: 1? TradeWatchFrequencyMS:10? BroadcastAllOrdersAtMarket & TradeAllOrdersAtMarket: true?

    Ral, will really appreciate if you can share your settings.

  35. Ral says:

    Your welcome admin.
    Doris, Did you study the manual yet?. Are your trades not copying because you fiddled with some settings. What pairs did you use for the sender and receiver respectively. Settings for BroadcastAllOrdersAtMarket and TRadeAllOrdersAtMarket would differ with brokers. If you study the manual properly you would know what settings are best for your broker combination. Cheers

  36. RussellB says:

    Ral, I went to the link of your trade copier, but link is no longer valid. Is a valid link available?
    I just bought the software today.
    What version are you using with good success?

    Cheers

  37. Jim S. says:

    HI;
    All I can say about MDP is “OMG”. I bought MDP on Aug. 3 at 5:00 pm and installed it on Finfx demo account ($5000.00) .
    With the eception of some minor adj. to settings it has proformed great. It has placed 67 trades (15 of them losers but small) and has increased the $5000.00 account to $8161.00 in just 48 hours. That is a 61.1% increase. WOW, I can’t beleive it either but it’s true.
    I am opening a live account and I have purchased the USD/JYP EA and I hope it works as well.

  38. RTRT says:

    Thanks Jim S.

    Very interested in your live account results….I lost my Hotforex 2 weeks ago…Have been using Finfx for these 2 weeks, going from $5000 to $23,000 with both EurUsd and UsdJpy EA’s….The Usdjpy plays less but is more accurate…Last week was the best demo week ever and have you see the increase on their fxbook page ?? Note that these results I received were on a ECN demo…It did not do as well on the non ECN live account I had before with Finfx… I hope to get on the Currenex Finfx account later…

  39. RTRT says:

    A quick -$1530 on Finfx demo…Since Finfx opens 1 hr earlier than most…..

  40. RTRT says:

    Make that -$1248.18 to be exact….0-12 on Eurusd

  41. Doris says:

    RussellB, the personal trade copier can be downloaded from: http://www.mt4i.com/personaltradecopier.aspx, but you need to register to download.

    RTRT, I’ve changed my Hotforex standard to currenex and bought an additional license to run on it, setting to level 0 didn’t open any trade, setting to level 1 open trades but less than myfxbook…although in profit but not so satisfy..worser than my GoMarkets account (setting to level 2..additional channel to 4). I finally switched it to Thinkforex demo and “copy” to Hotforex currenex (real) last Friday…results seems fine. Although not 100% match with myfxbook, results are more satisfy than run on Hotforex. May be you can give it a try.

  42. RTRT says:

    Thanks Doris, but as mentioned in my previous letters, I’m out with Hotforex….If you have 1.1.6 look at the requote errors…This is a problem with HF verses nearly 0 requote errors on Finfx…Also on HF they withdrawed my “bonus” when they wanted to, so I do not trust them anymore….

  43. Doris says:

    RTRT, I’ve also noticed the requote. But I’ll stay with them till I recover my losses, and may be I’ll switch to ThinkForex standard..as they claim is the same as its demo on price & speed. Hope that’s true…then I don’t have to “copy” my trades…& free use of their VPS. Please continue to share your live results with Finfx….

  44. Ral says:

    Hi Doris, Do you experience requotes with GoMarkets. They say no requotes..ever! on their website.

  45. Andrew says:

    Hi RtRT/Doris,
    I’ve been using v1.1.6 on a live ThinkForex account (their recommended broker) using default settings, and it’s consistently lost me money. Contacted Wm Morrison and his reply was they used default settings on their accounts and EA was working for other people. That doesn’t help. Any suggestions?

  46. RTRT says:

    Hello Doris/Andrew,

    I’m back on Finfx demo ECN account…Started 2 weeks and a day….w/$5000 currently $28,900….This includes the immediate $1248 loss I wrote of before…I did get an 16% requote error yesterday at one point…..No finances to go live at the moment, missing out on the best MDP week in history….

    Andrew, the only thing I can think of is the settings and possible requote errors…How are their spreads in comparison to Finfx, which is an ECN demo, taking commissions and still profiting wildly ??

    I’m using level 2, channels 4, max orders 8…optomistic, funky exits false trailing 5 hardstop and trailing true….

  47. RTRT says:

    Spoke too soon…Another EurUsd spike…Demo account now $38,800

  48. Andrew says:

    RTRT,
    Not noticed it before but on the chart there are messages saying ECN Entry condtions failed, Exit conditions failed and Conditions for order modification time failed. How to change this? ThinkForex is an ECN broker.
    Thanks,
    Andrew

  49. RTRT says:

    Hello Andrew,

    Mr. Morrison would be the best to explain his systems diagnostics….ThinkForest may have an ECN but is your demo/live account an ECN ??…In Finfx demo it asks whether you want to use the Finfx ECN demo account …So if commisions are not being taken out then it’s not an ECN account with its low spreads…Check that you have Stop order and Hard stop trailing = true

  50. Doris says:

    Andrew, you can see my live MDP result with GoMarkets (only latest month published): http://www.mt4i.com/users/ombhrum/stats. I’m using Level 2 & add. channels 4. Although not matching myfxbook’s result but not bad..much better than run on HotForex standard & currenex. FYI, from screen now, Avg no. of requotes is 0.26 per transaction & 5% of possible requote errors. Yesterday’s numbers are lower, 0.04 per transaction & 1% of possible requote errors. HotForex currenex is around 0.5 per transaction & 8% of possible requote errors.

    I think demo always have different results with live account as my Thinkforex demo always shows 0 per transaction & 0% of possible requote errors…I think the same apply to FinFx’s demo & live…Therefore, it’s better try MDP on live with small risk first..say 0.1 to see if it works.

  51. Doris says:

    Ral, other than broker’s processing power, I think some requotes may due to VPS or latency…it’s hard to say “No” requotes..If your VPS is fast enough & located in Australia (same as GoMarkets), may be there’s “NO” requotes.

  52. Doris says:

    Andrew, are you using Thinkforex’s free VPS?

  53. Anthony says:

    I would like to know if anyone has tested this EA on FXOpen’s ECN account. And if they have and had success, what VPS did they use and what is their order execution times.

  54. Aslam says:

    Hi Guys,
    DP is extremely fast and it been my experience (demo account only) that its gets in and out of trade in wink, as most of its trades take less than a minute to win or lose $100 or more depending on the lot size.
    Is this permitted by the brokers and in particular who???? Could someone enlighten me! Thanks.
    Aslam

  55. Anthony says:

    Aslam, whether or not it is allowed by the broker is entirely dependent on their restrictions. Plus, it is also dependent on whether or not their servers can handle the stress. If you are not trading with a very large broker that can handle the sudden volume of incoming order executions, then it is guaranteed to fail. That is all i can tell you at the moment as i just started trying the MDP. no trades taken yet.

  56. Aslam says:

    Hi Kim (Admin) and Anthony,
    The reason for my query is that most brokers do have a problem as they do not consider a trade made in less than a minute and would definitely be a problem if we went live with MDP. MDP in fast mode has made numkerous trades, but like I said it rushes in with big lots and rushes out with big wins and some losses.
    I also have a problem with FinFx demo platform as it keep crashing every now and then and I have to start all over again.Which other platform would be suitable. Please help someone???
    Aslam
    Pss I think Kim can answer this one?

  57. Ral says:

    MDP works very well on Thinkforex demo. For the speed most ECN and STP brokers should not have a problem with high speed scalper like MDP, although its best to contact your broker customer care and confirm minimum holding time duration for a valid trade if they restrict scalping..

  58. RTRT says:

    Aslam,

    I’m having great success on Finfx ECN demo…Starting 8/1 $5000 to now $53000….Is anyone having success with this Finfx ECN live ??? If your demo keeps crashing, make sure you have room, memory, disk space, on your VPS…or download a new platform…

  59. Aslam says:

    Thanks for your feedback all you Guys.Thats the Trader spirit! If someone benefits from our experience good or bad, more power to them.
    I think its MDP is great product, the only problem I see is getting a combination of a honest broker, who is fast, does not re-qoute and permits scalping/hedging on live accounts. I have had experience of renowned broker firm who widen their spreads for live accounts and deprive you of your profits. I remember someone else had also complained of the same. So the search goes on. Trade Smart not often. Good luck to all of us.
    Aslam

  60. Aslam says:

    Hi Folks,
    cross checked MDP enters and exits most of the trades in the majority of cases within 2 to me 3 seconds, rarely more. So how do we get to make that million dollars?? Lol!
    Anyway I have also asked Morrison about this issue. On second thought maybe that explains why its still on a ‘Demo account’????
    Anthony my friend how is it working for you?
    Andrew Ichimoku is behaving better with your settings as compared those given by Ral. I feel you should start using Fapultra on demo at least. What about Fx Trend Hunter. I am also trying my hand at demoing some manual systems with reasonably good results. Will keep you posted.
    Aslam

  61. Jeff says:

    I have had MDP running for 20 days. My results using 1 mini-lot: 55 wins – 73 loss; P/L= +115.61; Biggest loss = 14.10, biggest win = 40.90; Comm = 54.23. Often I will get 2 trades close together. Re-quotes = 0.05. Most on default settings except for trading channels of 6 and Num-orders at 4.
    Anyway losses seem to be minimal, but looking for better W/L ratio. Commissions are close to 50% trading small with my broker ecn (MB Trading Co) live and no VPS.

    Cheers All!

  62. Ral says:

    Hello mates, I was thinking we could make our own EAs. Some of us have developed profitable manual strategies using custom indies but cannot turn these ideas into robots. With this software called EA generator, you can simply automated your manual strategies. The program generates the source code for you after you define you entry and exit strategies. I have got the latest professional version of the program. I wanna know who is in support of this cos i do think great EAs are neva sold. It can also be used to build scripts and indies..

  63. Ral says:

    Download here mates http://www.mediafire.com/?aa590jan15001cc .. I have used this and believe me it works. Try for yourself

  64. Ral says:

    MDP trades for today 7 trades all winners trading 8 lots size total=2440usd

  65. Andrew says:

    Hi Aslam and everyone,
    Aslam, please see my post on Ichimoku thread, I’ve given you new settings. I’ve got FAP Ultra V3 demoing on FX Open with your settings for V2, we’ll see what happens! I’m going to try FX Trend Hunter as well.
    Ral, I support you about the EA generator, great idea. Just finally about MDP – is anyone trading it live?

  66. Sid says:

    Hi,
    So what im hearing MDP works? Which pairs and time frames would you advise.
    Thx

  67. Oluclay says:

    Hello Guys, please i will like to know if MDP will work with fxpro.using vps.with it. thanks looking forward to hear from you.

  68. Ral says:

    Best way to know if it works on your broker is to forward test with micro lots for about a week or two and see how it goes

  69. Andrew says:

    Hi Ral
    Amazing, I take it it’s your own strategy? If so, it would make a mighty EA.
    Cheers

  70. Ral says:

    Yeah Andrew. its my strategy, am currently working on building it into an EA, would take some pretty much amount of time though.

  71. Aslam says:

    Hi Guys,
    Thanks for the settings, Andrew, I will try them. Remember that the Fapultra settings can be used successfully with Gbpusd and Aud Usd, only problem is it tends to run away with a trade once in while and has to be manually closed. But the wins are great and thats what matters.
    Ral I dont know much about coding or strategy, but I think you are onto a good thing which can be worked out. We offer all our help and support in any way possible. Best Of luck.
    Aslam
    Aslam

  72. TL says:

    hi guys i’m new to all this, and i’m running live acc on MDP for 3 days now, but all i get is like 2 trades a day, currently at lost of 7 dollar from initial of 1000. need advice.
    cheeresss
    TL

  73. Chee says:

    Hi guys,
    Anyone tried using it on IBFX?
    I have an existing account on IBFX and am tempted to purchase a copy to try it out?
    Thanks for all your sharing!

  74. oluclay077 says:

    thanks for your reply, am currently running MDP on live account with fxpro not ECN account but the robot did well this morning Tuesday 23/08/2011 open three trade lost two but minimal losses but made one big win that covered the two losses.
    But MDP is complaining on ecn conditions not met. i dont know if it is like that with you guys. and secondly if there are any settings i have to make please dont hesitate to let me know.because it opened three trade on my live while five trade on fpa.

  75. Aslam says:

    Oluclay077
    I think you need an ecn account to get the full benefit of MDP or if you have ECN setting on it, turn it to false.
    Aslam

  76. oluclay077 says:

    Hi Aslam, i turned ecn off i does not work, is there any other suggestion ? and this license is already being activated to this account.

  77. Ral says:

    Check the Experts Tab to see what Error it returns. That way we know how to help you..

  78. Doris says:

    Just find out my MDP run on Hotforex has hidden the requote info shown on screen…don’t know why??? I didn’t change any settings. But my Gomarket account has requote info shown on screen. Can broker block such info?

  79. Ral says:

    I dont think so. Broker has no effect on what an EA displays on the chart..Might be a little probs with the EA init. Does it still trade without the info display?

  80. Doris says:

    MDP can trade without the info…really strange…the requote info re-appear today…with Avg no requote 0.00 per transaction..requote error 0%…hope Hotforex really improve their system.

  81. Doris says:

    Ral, thanks for your sharing, I’ll take a good look into it.

  82. admin says:

    Ral,

    I appreciate your contributions, copyright infringement however is not allowed on Forex Robot Nation and will not be tolerated.

    I hope that you can continue to discuss trading and help the FRN community but within these rules.

    Thank you!

  83. Ral says:

    No problem Admin.I must have missed your website policy..

  84. Robert Vogel says:

    I’m running MDP on a demo account and a live account, within seconds of turning it on I had 2 losing trades on live account and 2 losses and 1 win on demo account, the losses were twice as big as the wins, I’m using Hot Forex, will wait to see what developes and hope that I get more wins than losses(more profit) and I will let you know…..wow its quick!!!

  85. Doris says:

    I’m so disappointed that GoMarkets will discontinue “Cash Back” from 16/9, but as it performs well with MDP, I will keep it. I’ve noticed that GoMarkets’ spreads are not as tight as before..

    I’ve also heard that VantageFx seems working well with MDP as it has tighter spreads and also no commission charged..any sharing?

  86. John says:

    Hi all. I was ready to do Hot Forex when I read the reviews. UGH these US regulations are killing us! Does anyone have any suggestions for US based? Thanks! JS

  87. RTRT says:

    Hello all…I have continually done extrememly when on Finfx demo, but today I learned that MDP works well on FXSALT, which also accepts US citizens I hear…Does anyone know anything about this ??? Also note that they state on their website that the demo and live accounts work exactly the same..So I will move my MDP to FXSALT tomorrow, since I have nothing to prove on Finfx other than how it performs live…

  88. RTRT says:

    Forgive my spelling extremely well is what I mean….LAM…Laughing at myself…..

  89. RTRT says:

    Correct FXSALT does not except US citizens….Phoey

  90. John says:

    I contacted the admin of MDP and they said they recommended Hot Forex. Im concerned because of all the bad things that were said so far about them. If anyone can give a positive review of the broker, or suggest another one (that accepts us US based types) then Ill have more confidence. Thanks again!

  91. RTRT says:

    Hello John,

    If you read my previous entries you will see that I do not like Hot Forex. For us US people I still think Finfx is better than Hot Forex…Way too many requote errors plus the commission in HF adds 10 pips to its Currenex price…Finfx adds 7 pips…The advantage of HF is with the “bonus” (if successful) and the margin 300:1 verses 100:1 on live accounts on Finfx..

  92. Doris says:

    I also don’t recommend HotForex for MDP, I’ve tried for 2 months, finally gave up running MDP on HotForex.

    Finfx’s actual spreads (incl commission) are not so tight, so as HotForex. For US residents, may be Oanda suitable (http://fxtrade.oanda.com/)? They seems have tight spreads but don’t know about their requote, may be you can download their MT4 for testing….

  93. John says:

    Heartfelt thanks to both of you. Forex Peace Army gives FinFx a strong review, and Ill check into Oanda next. Some robot testing websites have MDP not making too many trades (and as a result, not much profit), but all your feedback is making it easier to consider MDP being worth it…as long as you still think it is. :)

  94. Aslam says:

    I am getting good results with MDP on both Finfx and Pepperstone demo platforms. I beleive Trading Point also offers a no requotes account for a deposit of $200 only. So check them out if they suit you.
    Aslam

  95. Andrew says:

    Hi Aslam,
    Which VPS provider are you using for both accounts? MDP is totally dependent as we know (to our cost!) on latency.
    Cheers,
    Andrew

  96. Andrew says:

    Hi Doris,
    Think I asked you a couple of things about MDP a while ago and never got back to you, apologies for that. Can I ask you the same question as to Aslam, which VPS provider, assuming you’re using one. I believe you’ve had good results with GoMarkets.
    Thanks a lot,
    Andrew

  97. Doris says:

    For your reference, useful website for spread comparison (though not all brokers shown): http://www.fxintel.com/live/. You can add commission to the spread to have a better overview of spreads…the lowest spread on EUR seems to be FXOpen ECN (incl commission) & VantageFx…As both brokers claim “no requote”..I hope they can perform well with MDP. Will open account with one of them next month to try.

  98. Aslam says:

    Hi Andrew, Doris and the rest,
    I am not using VPS, but find Fin Fx, I amfx, Trading Point and Pepperstone suffcient for my current needs. I demo more than I trade live and have no latency problems that I am hearing regarding MDP and other Ea’S. In my experience Trading Point is the only one that has not given me requotes, but I dont know if it has any latency problems. Check it out.
    Aslam

  99. Doris says:

    Hi Aslam,

    I’ve checked on Trading Point & download their demo MT4, but their spread on EUR seems a little bit wide (around 2)…does MDP work well with it? Demo or Live? Pepperstone “razor” is recommended by MDP, I’m interested, can you share your results?

  100. Aslam says:

    Hi Doris,
    MDP is performing well on Finfx and Pepperstone demos and I dont have it on Trading Point. But it is the only one which has not given me requotes, which seems to be your compliant. Best of luck and keep us posted. I may have something else for you.
    Aslam

  101. Aslam says:

    Hi Doris,
    I crosschecked and found that I had made some MDO trades with good profits on Trading Point also. Hope that helps. See Ya.
    Aslam

  102. Doris says:

    Hi all,

    I’ve a little check on latency between my VPS & brokers..for Gomarkets is around 220ms, Vantagefx is less than 10ms, ThinkForex is around 80ms, HotForex is around 180ms…So surprise that MDP still run well on Gomarkets with my VPS, I think it may run better on an Australia VPS.

    I’ve a search and find out that FXOpen ECN seems have problems with MDP, so I’ve taken it out from my list.

  103. RTRT says:

    Hello Doris,

    Have you found the latency for Finfx ?? I use Forex VPS…

  104. Doris says:

    Hi RTRT,

    You can check by yourself, as I don’t have account with ForexVPS. The process is as below:

    - From your VPS, navigate to your MT4 folder in your C: drive.
    - Open it up and then open the “config” folder. In the “config” folder look for a file that has the same name as your brokers live server (this normally has “real” or “live” in the name; or if you want to test a demo accounts latency then look for the relevant demo account)
    Open up the file (with notepad or wordpad) and scroll along until you see something that looks like an IP address, e.g. 235.256.458.23. Note this number down somewhere. It usually has numbers at the end after the “:” sign. Ignore these numbers. They are not needed.
    - Click “Start” on your PC and locate your “cmd.exe” program. You can do this by typing in “cmd” to the search box (Windows 7). Then open this program.
    - Where the cursor is, type the word “ping” then hit space and type the IP address you noted down earlier and hit “Enter”
    - Your computer will then ping the brokers server and list on the screen the latency which is usually noted in milliseconds, e.g. 33ms for 33 milliseconds.

  105. Jaleox says:

    Hi RTRT. I ‘ve got Forex Vps server and I have tried to install mdp for all this week. I thiNk there is a problem with the windows version and the visual C 2010 used by mdp. Have you got any problem like this. Thankz

  106. Tan says:

    Hi Doris,
    Can you please tell me which VPS provider are you using for your GoMarkets account? Thanks.

  107. blackforestfx says:

    Hello Doris, which settings for trailing resolution, stop orders and hardstoptrailing you use on GoM ?!?! Regards

  108. YOUSEF says:

    IAM USING MDP FOR WEEK ON ADEMO ACC. WITH PEPPERSTONE AND UNTIL
    TODAY NOT ASINGLE TRADE IS DONE.IF ANY BODY CAN HELP PLS.
    REGARDS TO ALL

  109. Doris says:

    Hi Tan, blackforestfx,

    I’m using ucvhost with GoM. Except for NumOrder=1, AC=8 & Slippage 1.0, all others are default settings.

    MDP showing Connection/broker too slow since last week, even there’re trades but are fewer than before. Avg exe time is around 900ms before vs now is around 2000ms. I’ve heard my friend said US has slowed down their internet..don’t know if that’s true. I think I’ll change to Mammoth in Sydney (VPS close to my broker GoM) recently.

    FYI, my recent VPS has low latency with VantageFx (also provide low spreads), therefore I’m testing MDP on its demo. But so far the results are not so good due to high slippage…even worse than GoM with slow connection.

  110. Misako says:

    Hi,
    I wonder, can a STP/ECN broker manipulate (i.e. delay) the incoming order execution speed by any number of (milli)seconds? If so, then the latency (i.e. the speed at which the broker receives the order from your computer) becomes much less relevant. Does anyone knows the answer? Thanks.

  111. blackforestfx says:

    Hi Doris,

    which version you used in September and right now in October at GoM. You changed something?? Kind regards

  112. blackforestfx says:

    PS: …seams that V 1.2.0 performs worse !?!?

  113. Doris says:

    Hi blackforestfx,

    I always change to the newest version once released, therefore most of September is 1.1.6 and 1.2.0 after it released. I don’t have 2 versions running at the same time, therefore I can’t compare..as market environment is another issue. Till now, -9.4 pips loss this month..not so good.

  114. ALI says:

    does anybody have used million dollar pips ea on ALPARI? if yes what was the result and what vps was used?

  115. John M says:

    Yes, I’ve have a demo account on Alpari with no trading done at all by MDP. The best I have had so far is with FXCM but only six trades and then nothing for weeks on end due to “spread too high”. It seems that MDP sets its scalping parameter tolerances too low. Has anyone else had this problem?

  116. Obed says:

    I am using MDP on a real money account with ThinkForex. Deposited 627 September and now its up 952 a modest 50% using 1:100 leverage and 2% risk. Now notice that I tell you the exact actual figures I am using.

    Also be advised that MDP is a very fast EA and very sensitive to spread so choose the right broker. (fast execution plus low spread).Now if you are starting out its a nightmare but I can basically help you here to narrow your search. To use MDP start looking for ECN or STP Brokers eg Iamfx . Pepperstone, ThinkForex and the like.You are looking for spreads of 1pip or less and fast execution and a micro account.
    You might feel that MDP does not trade but if you do the above it will trade eventually and it takes 4 to 8 trades at once as soon as a qualifying spike appears. This normall happens during news releases so be patient.MDP is the safest robot I have ever seen.It uses a very small stop loss so you can sleep at night. Just set it up and check every weekend.

    Run on DEMO untill you see some positive results before you use real money
    When you are ready to go real, Go through Introducing Broker Traders Union OR the like in order to earn commissions to offset your VPS. As your account grows . you VPS costs will be offset completely and once you reach 2500 get a broker with free VPS. Do not use the brokers *Free* VPS if you have a small account because if your EA does not meet the round lots traded each month to qualify for *free vps* the broker will deduct from your account leaving you with less equity to trade
    This is my two cents and I hope it helps some

    Thanks

  117. Ariel says:

    Hi Obed,
    What settings are you using to get your results.

    Thanks,
    Ariel

  118. maurice says:

    Hi Obed,

    I have the same question as Ariel. A lot of problems to start MDP.

    So I am very curious about your settings

  119. maurice says:

    Hi Ali,

    A few days ago the maker of MDP, William Morris mailed me, that MDP is working on a
    Alpari Pro account, so do not use the normal Alpari. You can start also on a demo account with Alpari Pro

  120. Stephen says:

    Thanks for all your comments and concerns. Whilst we all think we want to be secretive about making money, or some secret tools we have to make phenomenal amount of money, these forums and reviews, personal comments and suggestions do help. I know, I have learnt from others who genuinely leave good comments to help others. They are truly serving others. My facts on Million Dollar Pips:
    You may consider ECN brokers. However, what you need is very tight spreads. You also need to to think… Are you dealing with liquidity banks directly? Perhaps, if you buy/sell a few lots a time, maybe. If you deal with micro lots, does the bank care about $2.00 trade? So, is the broker going to be able to trade with your opening trade? They have to consolidate your trade with hundreds of other people to make up lots to open with the banks. This takes time. A small broker may not have all these clients readily available. So, you have to wait in the Que. Even then, the liquidity banks may have latency of their own to give priority to bigger trades.
    Thousands of copies the robot may have been sold, everybody looking for the handful of ECN brokers. The robot opens a trade, sets the stop losses with a second or two, modifies the trade or trailing stops in two more seconds, closes the trade a few seconds later. You can even have settings for multiple trades at once. Now, with all these trades being taken at the same moment, by all the robots hosted by your broker, their systems are falling apart. You are a bad client. Your trades need to be slowed down. Do you really think you are trading with the banks with your ECN account?
    There is a reason why everywhere there is a mention of “brokers do not like scalpers”.
    I have a 1-2ms latency between my broker and my VPS. You can’t get better. When I started with Million Dollar Pips, I had 80% increase in my account in Oct-Nov. This was on Demo account. The robot performed really well. It is an excellent robot! Great risk strategies. My execution time was 180-240 ms. No slips. Approximately 90-95% winning ratio. The day I went Live with it, it went to 85-90% losing ratio. One third of my account was wiped out in one day. It was the same robot, with same settings, with same broker. Just Live account. My execution time had jumped to as high as 7.8 secs, any modification was delayed, stops were delayed. Slips coming into play. Broker was too slow. VPS beginning to cost money. I have stopped my robot. The robot is very good, but the broker also wants to make money. ECN may not apply to you.

  121. N. L. says:

    With everyone else just eating this company up and all… I just hate to be a sour lemon but, why is the profitable pair(Eurusd) an upsell? Which of course, who cares if overall you can make the ~ $200 back later with this same product.

    Another point is; will this beast continue to be profitable or better yet will they(William & Co.) really give this money maker much attention(real updates) that continue to be profitable now that their latest product(Fast Forex Millions) has hit the scene.
    Just some thoughts…
    Happy Trading Folks

  122. cedric says:

    Hi,
    Can you tell me what your MDPs configurations settings was? I have a razor account with pepperstone and a vps recommended by MDPs.So far since early this month,all I see on the euro/us chart is nothing more than a broker excuse.Everyone seems to be talking highly about MDPs software which I find it hard to believe.

  123. Ral says:

    On the 29th of October 2011, Metaquotes released a new Trade manager to fight MDP, tagged “the Slug” . Since then many Brokers has adopted to using this plugin against their clients, its no magic the robot suddenly began to perform poorly amongst its vast amount of users. I just thought I’d let you guys know.

    Good news is, there are numerous way to using MDP successfully. I have worked on this over the past few months and could easily post/share a guideline on how to remain under the broker radar and stuff like that, my worries is the thousands of MDP users could easily be reading this and you know as much as I do what happens afterwards.

    P/S : Stephen, you motivated me to make this post, you’ll make a good write btw.

  124. charlie says:

    I tried the Million Dollar Pips Robot and never got a trade on the 30 day trail. Set it up as instructed and double checked everything, but never got a trade.

    • admin says:

      Try a different broker or try and set it up again.

      EA’s will always trade if set up correctly. I have not come across an EA that doesn’t trade at all.

  125. Matthew says:

    Tried MDP 1.2.0 on FINFX with BeeksFX server (exec times 0.35ms so excellent for a scalper, and small spreads). Did not trade from 12/3/12, then one day I discovered twenty-four trades (only one win) had all occurred at 1432-1433 (Aust. EST) on 16/3/12. I couldn’t work out why they had all suddenly been executed at that time, and then all been stopped out also [SL]. I had a balance of $10k and lost 10% in up to three minutes! I have taken MDP off my account for now until I work out what went wrong.

    Settings were DEFAULT as follows:
    Orders level was 0
    Channels was 1
    Slippage 0.5
    Max orders 8
    Funky exit TRUE
    ECN TRUE
    Min Lots 0.1 (minimum for FINFX)
    Max Lots 1.0
    Risk 1% (I reduced from 2%)
    Trailing Resolution 0.5 (could this have been it? Is this the distance from current price? Manual says it is the stepping trail – I assume the increments by which the stop trails with the position)

    All positions were short EURUSD, averaging 0.85 lots, profit from $5.16 to losses of $94.83. Any advice would be appreciated.

  126. Matthew says:

    Ral (March 15, 2012) I don’t understand – why did MQ release “the Slug”? Were brokers really losing that much money? Surely the brokers could have simply copied the trades and made the same (if not much more!) money to cover any payouts?? Or even played fair and issued a warning that MDP will only be accepted to certain balance sizes? This is really dirty.

    Obed (January 17, 2012) MDP won’t work on IAMFX – I already tried it and IAMFX were already aware of this issue. They will tell you to try another broker if you want to run MDP. As soon as you attach it to your chart it will freeze your VPS and you can’t do anything until Support wipe it and you have to setup your VPS again.

  127. Ral says:

    Yep Mattew, In addition to that all Mt4 build after 402 have a slower tick flow. Thanks to Metaquotes, they are really out to fight MDP style Algos. And yes, The brokers loose money if they are unable to offset the risk to the banks.

    Have you heard of “Last Look” ? Banks recently employ this to avoid loosing much. FX is a Zero sum game and not even the banks like to loose. last Look affects high volume trader, its a scenario where banks recheck the prices and delay your execution offering you a worse price than you would have originally obtained. “Last look” times has been recently trippled and Its impossible to see or notice this on your screen of course. Oops can’t believe I told that !

  128. John Mattingley says:

    MDP doesn’t work in these market conditions. It requires volatility where markets spike and retrace within seconds rather than spike and maintain station at or close to a new level for munites on end as is the case these last few months. William should build a new robot for the prevailing conditions. Otherwise wait for volatility to return.

  129. RTRT says:

    Hello all, especially Jaleox, Doris, Ral..
    I have been AWOL for so long. I stumbled upon this site again.
    I have never had a problem with MDP on FinFX and Forex VPS as far as installing and etc. Doris thank you for all your posts and Ral for all your knowledge. My demo account was fantastic until this month. Does anyone know if MDP is being negatively affected?

  130. jeanenry says:

    Hello,

    I will not tell you which broker this refers to, but my MDP tells me that the following is the case,

    Av Executuion Time= 269ms
    Av Open Times =2275ms
    Av Modify Times =261ms
    Av No of Unsucessful Attempts= 2.14 per transaction.
    Warning too many attempts rejected by broker.

    Question: In view of the strategy that MDP uses ie tick volatilty breakouts, are these times here too large for
    usefull trading using MDP with this broker. The latency is 4ms between VPS and broker. If so I will need to change
    my broker. Your professional view would be appreciated. Have a nice day,

    Thanks

  131. prat says:

    Hello to all,
    If The MDP is working good , and the broker only the case manipulating the quotes means ,I do have my own brokerage , with 0.1 to 0.3 spreads on majors, i do have all options , to make slippage , or delay , requotes… If it really works , without slip or delays , can profit from the robot right….
    Any comments would be appreciated , including admin guidance..

  132. prat says:

    Hello traders,
    Yesterday july 19 th 2012 i have installed the MDP on 1 min time frame in levitgro forex broker, my brokerage, i reduced spread to 0.2 on EUR/$ . No slip,delay nor requote… I am the boss of my concern..

    1 day result with 0.01 LOT SIZE. But we canT confirm the performance with one day result.

    But it works as same as the stragey report says….. There would be more trades but , profit
    and loss ratio is 5 : 6 …. U can check the strategy tester report…. But u cant confirm with that right.. here is the result.. Live account…. with 0.01 LOT…..
    5 WINNING TRADES AND 6 LOSS…… Its trying to capture alll the retracement , that is the logic of this EA . Even i can say it has close the trade with 0.02 pip , 0.5 pip profits ,
    Also loss with 0.4 pips . Not max 1 pip loss…. I ll update my live results by next week..
    until then stay tuned….

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