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Million 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!
Is anybody using MDP with broker Pepperston razor acct.(raw data no broker spread) with good results.
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….
Hi Prat! R u still using MDP? Hw’s d results? Can u pls advise?
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..
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
Hi Jeanenry! R u still using MDP? If yes, hw is it? Pls advise. Thx
Hello,
After 24 hours the robot didn´t make a single trade. Is it normal?
It is on a CNS VPS, so it is working all the time. It says is “working properly”, but nothing until now.
Default settings are applied so anything could be wrong?
Need your advises.
Thanks.
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?
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.
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 !
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.
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.
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.
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.
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.
Hello guys,
The MDP is an excellent robot. U cant blame the author or the robot. Forex brokers dont like to grab few pips from the market. That is fact… Search for ECN brokers with fast execution and tight spread.. Think forex , razor acc with pepper, all will do good with DEMO. life is live not demo..
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.
Hi Cedric,
I am using I am using 1.1.5, EURUSD M1 on Alpari for this EA.
This’s the news for anyone who’s new in forex or unaware with what may happen with your trade with your broker.
Today I decided to thoroughly check last night and Feb trades on my platform after I read many comments about the trade that’s closed beyond stop-lost you or your robot put in. It was surprissed me to find out that many of them were closed beyond set stop-lost. Some of them 3.2 pips beyond set stop-close.
I contacted my broker (GoMarkets) and I was very disppointed to learn that no guarantee the trade will close at set stop-lose. Some robot, i.e MDP, took big lot in one trade. Just imagine if your robot take 5.1 lots, which happened in my case, we will lose an extra $163 in one trade. From my experiences in a day robot (MDP) can take up to 20 trades. Just imagine how much extra loses we need to pay.
Please be aware !!!!
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
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.
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
Hi Obed,
I have the same question as Ariel. A lot of problems to start MDP.
So I am very curious about your settings
Hi Obed,
What settings are you using to get your results.
Thanks,
Ariel
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
Hi Obed! R u still using MDP? If yes, what is d results now? Can u pls advise & update me? Thx
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?
does anybody have used million dollar pips ea on ALPARI? if yes what was the result and what vps was used?
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.
PS: …seams that V 1.2.0 performs worse !?!?
Hi Doris,
which version you used in September and right now in October at GoM. You changed something?? Kind regards
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.
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.
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
Hello Doris, which settings for trailing resolution, stop orders and hardstoptrailing you use on GoM ?!?! Regards
Hi Doris,
Can you please tell me which VPS provider are you using for your GoMarkets account? Thanks.
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
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.
Hello Doris,
Have you found the latency for Finfx ?? I use Forex VPS…
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.
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
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
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?
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