Discuss MillionDollarPips.com (William Morrison)

[Antny]

The problem with FXOpen is that their trade server is too slow on the avg open time for new orders placed. I have tweaked the default settings also, and done some other stuff...and thursday (first official trading day on live account) it had 100% wins (8 in total) and ended with +54 pips.

I have seen a lot of posts from people have excellent results on GoMarkets. So, maybe will switch over to Gomarkets.

 

[George Holt]

Thumbs Up?

So am I hearing that everyone is pretty happy with this EA?

 

[portugaleren]

My experience with MDP

I bought MDP in June and had it running on a demo with good results. I then switched to my real account during the second half of July and it took my account from 551 Euros to 599 Euros. I didn't trade every day as I was doing some travelling.

Now, here in August, it has then taken my account to 1222 Euros as of today.

I'm still using one of the earlier versions of the EA, version 1.1.1 as it does a great job.

It seems to be very critical to the success of the EA which broker you use, in my experience anyway.

My broker is FXCBS and they have very low spreads but they charge commisions for every trade and that adds up, some days the EA makes 100 Euros and 80 go to the broker in commission and 20 to me. That made me look for another broker and I found ThinkForex, they are also ECN with no commission but higher spreads. I opened a demo account of 3000 Dollars and put the newest version of MDP to work, version 1.1.6. Here I must add that I had to buy one more license of the EA as you can only run the EA on one account, demo or real, at any time.
The demo went very well, it doubled the account in a few days, so I opened a real account of 600 Euros with Thinkforex which was a little less than I had on the other account.

However, the EA didn't work well on the new account. With version 1.1.6 it said that there was not enough money to work so I switched to version 1.1.1 as on my old account, with no success. Well it started to trade and it took the same trades as on my old account, but where the old account won the trades then the new account lost. It won a little bit in the beginning but after that it lost 110 Euros in a day and I decided to call it quits and closed the account again. Maybe the higher spreads were the cause of this bad trading.

 

[pharoh777]

3rd Night Results

To continue my earlier posts. I am using FXOpen ECN. My settings are posted earlier. Again another successful night.

It took two losses and one win for, -$4.29, -$16.93, +$31.40

Again very nice profit ratio.

I will run these settings for another month and if they continue to do well, I will increase the risk slightly.

Hope this helps. Spread makes a big difference on this product. ECN is a requirement.

 

[pharoh777]

4th Night Results

Well,

Finally a losing night. For background and settings see prior posts.

This is a live account ECN by FXOpen.
Lot sizes were .04 higher than when first results were tallied

Two wins, 5.46, 3.51 followed by three losses -9.75, -14.04,-25.35.

Still profitable overall. And only 5 orders in one day is drastically lower than the historical average for this EA. This might be due to less than ideal market conditions for this particular strategy. FPA's account and my own seem to be similar in number of trades although wins and losses and amounts are slightly different.

 

[pharoh777]

5th night results

Another losing night but only one trade, -7.60.

Still very profitable overall.

Only one trade leads me to believe that as mentioned earlier, the markets right now are not ideal for this EA. FPA shows NO trades from last night.

We will see

 

[pharoh777]

6th Night Results

Winning Again!!

Excellent rebound today. Finished the night and morning with 5 trades all winners,

$6.15, $52.89, $47.97, $6.40, $8.40

Now well ahead in profit for the week.

 

[MarkR]

imo the only way to trade with mdp is to set it up as instructed on an ECN. The one I use is Pepperstone Financial Pty Ltd. They are based in Melbourne BUT more important their server is based in Sydney. Having said that they are about to switch their server to New York as I write. So I will follow and set mine up there too. Read why:-

Whichever ECN you use, its vital for most profitable performance to buy yourself a virtual private server in the SAME city as the broker server. Ask your broker where the server is, it may not be located in the same place as their office. Next get the potential server company to check the latency from that server to the broker server ( both in same city ok). If the ping is 10ms or less you have the perfect set up to make serious profits with the EA. If your brokers server is in chicago, then Google "virtual private servers Chicago", nothing complicated and the server company will do the latency test for you before you decide to hire the server.

I see a lot of people in different forums blaming the EA when they should be looking at the server environment they are providing for the EA. I hope I am not throwing the pearls to the swine.

Sorry to be so blunt, but if you ignore this advice, thinking its some kind of myth, then it will be at your own peril.

I have never used a better EA and it is trading my own and clients money for me at Pepperstone. I am a currency fund manager licensed by the australian regulator ASIC.

 

[MarkR]

The problem with FXOpen is that their trade server is too slow on the avg open time for new orders placed. I have tweaked the default settings also, and done some other stuff...and thursday (first official trading day on live account) it had 100% wins (8 in total) and ended with +54 pips.

I have seen a lot of posts from people have excellent results on GoMarkets. So, maybe will switch over to Gomarkets.

interesting, why would you do that when Go Markets is not an ECN broker. You need raw spreads and small commissions eg round turn $7.00 per 100k.

 

[George Holt]

MyFXBook or something...

imo the only way to trade with mdp is to set it up as instructed on an ECN. The one I use is Pepperstone Financial Pty Ltd. They are based in Melbourne BUT more important their server is based in Sydney. Having said that they are about to switch their server to New York as I write. So I will follow and set mine up there too. Read why:-

Whichever ECN you use, its vital for most profitable performance to buy yourself a virtual private server in the SAME city as the broker server. Ask your broker where the server is, it may not be located in the same place as their office. Next get the potential server company to check the latency from that server to the broker server ( both in same city ok). If the ping is 10ms or less you have the perfect set up to make serious profits with the EA. If your brokers server is in chicago, then Google "virtual private servers Chicago", nothing complicated and the server company will do the latency test for you before you decide to hire the server.

I see a lot of people in different forums blaming the EA when they should be looking at the server environment they are providing for the EA. I hope I am not throwing the pearls to the swine.

Sorry to be so blunt, but if you ignore this advice, thinking its some kind of myth, then it will be at your own peril.

I have never used a better EA and it is trading my own and clients money for me at Pepperstone. I am a currency fund manager licensed by the australian regulator ASIC.

Do you have anything like MyFXBook to show us how your live trades are doing. Not that I don't believe you, I just want to see how the trades look.

Thanks Mate