Discuss MillionDollarPips.com (William Morrison)

[BigT1]

i guess i just let it go and refund it. Untill today still the MDP not helping me at all. 2 week without any single order been made since those losses trade. How can i refund it? Can help about this? Sorry being asking so much help here. Thank you in advance

Contact William Morrison, the vendor. I'm sure he has a refund policy, and will treat your request well. Let us know how it goes.

 

[Krachuk]

I bought this on the 2nd day it was offered. Its a sclapping robot and uses the one min chart. It has rapid buys and sells according to the one minute break out pattern. It does have some losses but there are more winning pips and dollars won than losses over a short time. Normally I see about 12 to 16 trades a day in short bursts. Im still running it forward on demo with the recommmended broker and its doing well. I see after 2 weeks its back in number one spot on the competition. Make sure your broker allows scalping and has a pip spread of 2 or less or this bot will not trade. I have also noticed that since its a scalper, I cant get it to back test. The author set this up with click bank, so you can get your money back if it doesnt work for you. This is a big plus in my books as some sellers use plimus and I have yet to get my money back from Plimus. Click bank sells this one and Im much more likely to buy with a sure chance of a refund if the bots not working. I do like this bot. I like the multiple trades and its in and out in secounds with a small stop loss of like 4 to 7. I think this bot could trade a very small account for around $150 or $200 pretty easy since it trades so quick and doenst hold any postions for for than a few secounds to about 2 minutes. Its so fast on trades I dont think it trades more than one at a time so FIFO should be no problem in the USA. Main thing is you need a good pc with a good fast connection. I have built my own server and trade only MDP. You can see all my charts and live and my accounts are growing fast these last few months since the MDP was offered for sale. See my charts at Home

Aloha
Garry

Does MDP work with any broker MT4 platform ? Secondly, I plan to work with FXCM and there spread is invariably over 2.0 to 2.6. Will this MDP work ?

Thanks !

 

[BigT1]

Does MDP work with any broker MT4 platform ? Secondly, I plan to work with FXCM and there spread is invariably over 2.0 to 2.6. Will this MDP work ?

Thanks !

Hello Krachuck,
MDP is an effective hi-speed scalper that works best on and around "Scheduled News Events" where market participants tend to anticipate news, gamble on potential outcomes that offer plently of opportunity, but often frustrate breakout and trend traders due to conflicting market interpretations that typically and ultimately result in largely unchanged outcomes.
.
Demo accounts cannot accurately replicate the results you will receive in real money accounts because Demo accounts fill all orders without slippage and requotes.
In my opinion:
1 - If you are not an experienced trader or a financial pro, this EA may not be the best choice for you to mess with. You need trading savvy and experience to make this work for you.
2 - To succeed with it you need a very well connected VPS, discipline, and the brains to turn it on and off just before and after scheduled news announcements.
Otherwise, it can unexpectedly hurt you badly when EURUSD jumps between levels without any retrace, as has been occurring often recently, when unscheduled news events cause major gaps in this one particular currency pair, due to extreme geo-political events previously unseen in market history.
.
Regards,
AI

 

[javier011]

Suggest you read before your write. There is much info here, along with warnings and others experience with MDP.
Surely, as a new user you are enthusiastic; but I assure you MDP is not the Holy Grail. Proceed with caution.
AI

Hello, what is the best value for max_simultaneous_orders?
I currently use value '10'

what do you suggest?

thanks
J

 

[BigT1]

Hello, what is the best value for max_simultaneous_orders?
I currently use value '10' . . . what do you suggest?

Hello javier011,
My testing has only been done with the author's recommended defaults.
For my purposes, examining correlation between the public track record and my results, this is a necessity.
Sorry I cannot speculate on any deviations.
Please post your own results and suggestions.
AI

 

[BigT1]

Million Dollar Pips Test Results

After 10 months of testing, it is now time for some results to be posted.
.
Testing has continued uninterrupted on a FinFx ECN/STP commission brokerage account since inception, January 2012.
This firm charges $7/round-turn commission, with very tight spreads.
Real Money Testing was accomplished at ATC Brokers clearing FXCM, a similar ECN/STP commission broker located on the opposite side of the planet in California USA.
This firm charges $8/round-turn commission, with very tight spreads.
Both accounts support Hedging and No FIFO; but, the real money account in the USA is limited to 50:1 leverage, while the FinFx Demo account is at 200:1.
.
The attached zip file contains three Detailed Statements, present for you to examine with only the account numbers removed.
Between May 24 & July 5, real money testing was conducted.
The real money test period and the corresponding period demo test results are contained in two of the files.
The third covers the ongoing demo test for the entire period, to date.
.
To summarize; the first 4 months of testing were fruitful in Demo, so I promoted MDP to Real Money.
The following 40 days resulted in a wide divergence betwee the Demo results and the Real Money results.
While the demo was profitable, the real money was experiencing loses and substantial drawdown.
As a result, I demoted the EA; but, have continued demo testing.
I have been anticipating some form of upgrade from William; but, to date have seen none; though William is publically requesting feedback and ideas for such.
.
Look forward to FPA members' reviews of my test results, all of which were generated using the default variables, as prescribed by the author.
.
Anthony Ingrassia, CTA
NFA ID#: 0278164
.
View attachment MDP Test to Date.zip

 

[Mautje]

Hi guys, and I welcome myself to this forum, as this is my first post

It seems there hasn't been a lot of activity on this thread for a while now and what I'm wondering is.. Somewhere around page 4/5 I think it's user "MarkR" who says you NEED a low latency connection between VPS & Broker (ECN broker with low spreads). If so.. good chance this EA will make you some money. In the first few pages the people that got the connection/setup/lucky(?) right were very enthousiastic about this EA.

Later on in the pages of this thread people start saying that somehow brokers are working against MDP and it's not working anymore. I"m wondering if those same people had it working in the first place? HAd they been making money with MDP for months and then suddenly it stopped with the same setup / brokers etc.?

I'm just wondering if it's just circumstances or if this EA is really broken now, or if it's something else. Somewhere someone posted that the MDP EA was oversold and therefor orders were not being executed without a lot of slippage.

Or where the people that posted negative results in the last few pages just not set up correctly (with low latency etc.). IE BigT1 says he had a server on the other side of the globe that wouldn't really give you low latency I think . I know not everyone reads an enthire thread so I can imagine some people came here just to complain without knowing the details. Then again it might really be broken now!

So I hope someone will reply with some usefull information> if not on this thread then please in PM?

Kind regards,

Maurits

 

[fxmanager]

Dear All,

Clearly forget this EA in a live account, market can't transmit orders with a so high speed, above all in high volatily where there is no place to put your order fast enough by liquidity providers or banks...you will never have positive results with not a single broker...Results are exciting with demo accounts because in a demo mode, your orders are never passed to the real and live market flow !!! This is only a good toy for newbies or traders with no experience...

Fxmanager

 

[hifromeddie]

Dear All,

Clearly forget this EA in a live account, market can't transmit orders with a so high speed, above all in high volatily where there is no place to put your order fast enough by liquidity providers or banks...you will never have positive results with not a single broker..."

The above quote isn't true for 2015 (maybe it was in 2013).

After putting MDP on the shelf for 4 years, I decided to give it another try at the end of April 2015...this time on a faster vps (designed specifically for trading), on a real money account, and my broker is in the same datacenter as the vps (as well as several liquidity providers have their grid in that datacenter I think.)

The FOMC was near the end of April, 2015, and in the beginning of May 2015 was Non-Fram Payroll.

MDP made $923 on my real money account during that 10 days using the default settings in MDP except FIFO was on false.

.....BUT the following week, and especially on May 19 (UK time), EURUSD had some strong movements downward (some unannounced USD news must have taken place because USDJPY shot up) with very little retracements, and MDP picked up multiple quick trades......but could not close most of them in profit due to lack of retracements. The end result, the market took back about $600 of the $923 MDP initially gained for me.

(Side Note: MDP records the Order Execution milliseconds, Order Open milliseconds, and average modify time. Although my broker (live account) is 1ms in from the server, order execution, open, modify also needs to be included in the overall latency. On my real money account MDP recorded 40ms for Average Execution, 47ms for Average Open time, and 37ms for average modify time during the strong May 19 move on EURUSD. This can vary depending on the news release. I saw the average order open at about 435ms during non-Fram payroll although the execution there was 33ms as well as the modify time at 33ms. End Side Note.)

My conclusion is MDP is not a scam (even though I have not traded MDP long-term yet), and not only is low slippage, low spread, fast execution, low latency etc. helpful when using MDP......But it also needs crazy price whipsaw such as conflicting news reports during NFP (for example) when the employment numbers conflict with the unemployment numbers, or there is a revision that conflicts with the Actual number.....because during these times there might be the initial spike needed to activate MDP, but then whipsaw and retracements (due to indecision in the market from conflicting news reports or speeches) will help MDP close multiple trades in profit (as long as the initial spike was not too long.)

But when news is strong enough without conflicting reports and EURUSD drops like a rock with little retracement (like it did on May 19, 2015), or spikes up and up and up with not enough retracement for MDP.....this is where the losses come in even if you have a good broker with the lowest possible spread on EURUSD and the fastest execution.

If you demo test or back test MDP when there is strong EURUSD movement with little to no retracement you will see losses there too.

I hope it does not happen too often.

UPDATE: 5/20/15

The day after I wrote the above review for MillionDollarPips there was a USD FOMC meeting (May 20, 2015). The price action during the meeting created the perfect setup for MillionDollarPips to gain a lot of profit on my real money account. If you look at the candle formation during that meeting on EURUSD H1, it will have a long wick at both ends and a small body. The wicks are not too long....So on the M1 chart there was a lot of price whipsaw which caused MDP to trigger about 35 trades (some sell orders at upper wicks, and a few buy orders at a lower wick). The end result is MDP made a little over $700 (average lot size was about 0.24 - 0.25) on my real money account in just a few minutes. When this happens it is the perfect setup for MDP. When this doesn't happen, and price action is too strong in one direction with no retracement, the worse can happen as far as MDP. So far during the 3 weeks I have been using MDP on my real money account it has traded 6 times (on 6 different days), and opened a little over 150 trades total during those 6 days. This is using the default settings with Fifo on false. The trade server I am using is very fast, and the broker and liquidity provider grid, are located in the same datacenter as was mentioned above. On a more sluggish vps or dedicated server not designed for trading specifically, and also depending on the broker, MDP may miss a lot of trades. So MDP can be a profitable bot in the right conditions. But it can also lose a lot or not trade enough, if there is strong price movement in one direction and/or the server is sluggish and the broker is slow in executing and opening orders etc.