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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!
For your reference, useful website for spread comparison (though not all brokers shown). 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.
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
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
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
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. 🙂
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….
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..
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!
Correct FXSALT does not except US citizens….Phoey
Forgive my spelling extremely well is what I mean….LAM…Laughing at myself…..
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…
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
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?
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!!!
No problem Admin.I must have missed your website policy..
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!
Ral, thanks for your sharing, I’ll take a good look into it.
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.
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?
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?
Check the Experts Tab to see what Error it returns. That way we know how to help you..
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.
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
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.
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!
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
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
Yeah Andrew. its my strategy, am currently working on building it into an EA, would take some pretty much amount of time though.
Hi Ral
Amazing, I take it it’s your own strategy? If so, it would make a mighty EA.
Cheers
My manual trades today.. http://www.fxstat.com/upload/forum/1313680531.jpg
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
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.
Hi,
So what im hearing MDP works? Which pairs and time frames would you advise.
Thx
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?
MDP trades for today 7 trades all winners trading 8 lots size total=2440usd
Download here mates http://www.mediafire.com/?aa590jan15001cc .. I have used this and believe me it works. Try for yourself
Here is the link to the website http://www.forexgenerator.com/index.htm
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..
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!
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
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
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…
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..
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?
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.
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
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.
Andrew, are you using Thinkforex’s free VPS?
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.
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.