Discuss MillionDollarPips.com (William Morrison)

[George Holt]

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.

Gooday Mark,
I am opening an American Pepperstone account. What VPS did you use for yours? Did you find one with a 10ms ping time?
Thanks, George

 

[George Holt]

The best EA so far?

I'm convinced that MDP is the only EA that really works.
I'm also of the opinion that the only way it's going to work is with a broker that only charges the min in pips for a trade.
It seems that only overseas brokers will give us that break.
For instance, a 0.2 pip charge verses a 2 pip charge.
That being said, you HAVE to have a VPS in the same city as the broker to keep the latency time in the trade under 10 ms as well.

Using a Pepperstone broker and Mammoth VPS combo in Sydney Australia, you can get a latency time of less than 2 ms. Here's an actual test result Mammoth gave me yesterday when they pinged Pepperstone's server.

PING 113.192.16.46 (113.192.16.46) 56(84) bytes of data.
64 bytes from 113.192.16.46: icmp_seq=1 ttl=116 time=1.64 ms
64 bytes from 113.192.16.46: icmp_seq=2 ttl=116 time=1.51 ms
64 bytes from 113.192.16.46: icmp_seq=3 ttl=116 time=1.41 ms
64 bytes from 113.192.16.46: icmp_seq=4 ttl=116 time=4.31 ms
64 bytes from 113.192.16.46: icmp_seq=5 ttl=116 time=1.46 ms
64 bytes from 113.192.16.46: icmp_seq=6 ttl=116 time=1.50 ms
64 bytes from 113.192.16.46: icmp_seq=8 ttl=116 time=1.71 ms
64 bytes from 113.192.16.46: icmp_seq=10 ttl=116 time=1.45 ms

The problem with this combo is that Pepperstone doesn't take US customers.
So I've found one in Sydney that does take US customers called Go Markets that you can open a Currenex account with in conjunction with Mammoth. I haven't had Mammoth ping their server yet, but it should have simular results.
Because of the time difference, their tech support is asleep. LOL!

I'll keep you posted.

(Does anyone have an account with Go Markets or Mammoth?)

 

[George Holt]

Go Markets a bust

Well, I just found this on Go Markets website:

•Due to the new CFTC regulations we can no longer accept account applications from retail clients who are residents of the United States of America. If you feel that you qualify for an exemption from these regulations as an Eligible Contract Participant as outlined in the Commodity Exchange Act, please email info@gomarketsaus.com with details of the grounds for your exemption before applying for an account.Applicants from outside Australia, especially the United States of America must check their local laws and regulations before applying for an account with GO Markets.

I must say, this is getting frustrating.

Makes me want to move out of the USA. Is there a way to get a foreign address, and still live in the greatest country in the world? It's appauling that this country does all it can to keep you poor.

:shocked::hissyfit:

 

[pharoh777]

Frank Dodd Act A Dud For Us Forex

Amen!!

I hate that the US has stupid regulations that bar us from using any broker we want. That's why I was forced to use FXOpen for ECN. I would much rather have the choice to use something with stronger execution. My profit rate has decreased significantly this week. My losses are 3 times the size of my wins and 3 times as frequent. I am booking the same losses as FPA but not getting the wins.

If anyone has a track record with FXOpen on ECN (I cannot switch brokers) please discuss settings.

Thank You!!

 

[MarkR]

Gooday Mark,
I am opening an American Pepperstone account. What VPS did you use for yours? Did you find one with a 10ms ping time?
Thanks, George

Hi George,
I am still using a vps in Sydney ; ping average is 1ms but sometimes as high as 4ms so its really good latency. Pepperstone advised all clients that they are moving server to US mid September so I will follow. Check out any vps service in New Jersey which will certainly be close enough to the Equinix NY4, their new server. As long s latency is 10ms or less you should have no problems with EUR/USD spread offered at Pepperstone.

 

[George Holt]

Frank - Dudd, drafted by bankers, for bankers.

Amen!!

I hate that the US has stupid regulations that bar us from using any broker we want. That's why I was forced to use FXOpen for ECN. I would much rather have the choice to use something with stronger execution. My profit rate has decreased significantly this week. My losses are 3 times the size of my wins and 3 times as frequent. I am booking the same losses as FPA but not getting the wins.

If anyone has a track record with FXOpen on ECN (I cannot switch brokers) please discuss settings.

Thank You!!

There is an exception to the rule that will allow you to open an account overseas. If you can prove that you have $10,000,000. Gee, lets see, who has 10 million bucks, oh yeah, BANKERS! The same people that took our tax dollars to bail them out, then gave themselves million dollar bonuses after that. Frank-Dodd was drafted by bankers, for bankers. If there is a way to over turn that crap, we should be working on it, ASAP!

 

[George Holt]

My FX Book

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.

Do you have this on My FX Book?

 

[Crystal Es]

I seem to have Robot messages on the EURUSD M1 chart, but _no trades_.
How often does the robot trade?
The smiley face expert advisor is on, so the robot is working.
What am I doing wrong?
.
Trading DEMO on SmartTradeFX.
.
Here's my configuration for MDP 1.1.6

Configuration================= Configuration
Show_Diagnostics=true
Show_Debug=false
Verbose=false
Silent=false
NumOrders_Level_Info_1=Range of 0..4, adjusts Number of Trades
NumOrders_Level_Info_2=0=Max Profit% 4=Max Num.Trades/Rebates
NumOrders_Level=1
Additional_Channels_Info_1=Range of 0..8
Additional_Channels_Info_2=Safely improves trading frequency
Additional_Channels=8
Slippage_Info_1=Lower value improves profit rate,
Slippage_Info_2=higher: trades more but less accurately
Slippage=3
Username=
Magic=112226
Max_Simultaneous_Orders=8
FIFO_Info_1=if Simultaneous_Orders>1 ,
FIFO_Info_2=u.s. citizens should turn it on
FIFO_Info_3=(required for NFA compliance)
FIFO=false
OrderCmt=MDP_EURUSD_1.1.6
Pessimistic_Testing_Info_1=Simulate bad live account conditions
Pessimistic_Testing_Info_2=during backtesting (i.e. Slippages)
Pessimistic_Testing_Info_3=(this has no effect in FIFO mode :
Pessimistic_Testing_Info_4= +turn off FIFO for "optimistic")
Pessimistic_Testing=false
Funky_Exit_Info=Exit trades sooner
Funky_Exit=true
Money_Management=---------------- Money Management
Min_Lots=0.001
Max_Lots=1000.0
Risk_Info_1=Fixed risk % of balance per order
Risk_Info_2=NOTE : Trading volume is very variable
Risk_Info_3=as stop losses are in different distances
Risk=2.0
SL_TP_Trailing=---------------- SL / TP / Trailing
Trailing_Resolution=3.0
Use_Stop_Orders_Info_1=Set true if 1) your broker doesn't deal with
Use_Stop_Orders_Info_2=opening slippage when executing STOP orders
Use_Stop_Orders_Info_3=and 2) broker stop level is <= 2.0 pips
Use_Stop_Orders=true
Hard_Stop_Trailing_Info_1=Trailing hard Stop/Loss and Take/Profit
Hard_Stop_Trailing_Info_2=Otherwise, doing it in programmatic manner
Hard_Stop_Trailing_Info_3=and SL/TP is just for covering
Hard_Stop_Trailing=true

----------------------------------------------

Yes, I did fill in my username (Receipt number).

 

[George Holt]

Allow Live Trading?

I seem to have Robot messages on the EURUSD M1 chart, but _no trades_.
How often does the robot trade?
The smiley face expert advisor is on, so the robot is working.
What am I doing wrong?
.
Trading DEMO on SmartTradeFX.
.
Here's my configuration for MDP 1.1.6

Configuration================= Configuration
Show_Diagnostics=true
Show_Debug=false
Verbose=false
Silent=false
NumOrders_Level_Info_1=Range of 0..4, adjusts Number of Trades
NumOrders_Level_Info_2=0=Max Profit% 4=Max Num.Trades/Rebates
NumOrders_Level=1
Additional_Channels_Info_1=Range of 0..8
Additional_Channels_Info_2=Safely improves trading frequency
Additional_Channels=8
Slippage_Info_1=Lower value improves profit rate,
Slippage_Info_2=higher: trades more but less accurately
Slippage=3
Username=
Magic=112226
Max_Simultaneous_Orders=8
FIFO_Info_1=if Simultaneous_Orders>1 ,
FIFO_Info_2=u.s. citizens should turn it on
FIFO_Info_3=(required for NFA compliance)
FIFO=false
OrderCmt=MDP_EURUSD_1.1.6
Pessimistic_Testing_Info_1=Simulate bad live account conditions
Pessimistic_Testing_Info_2=during backtesting (i.e. Slippages)
Pessimistic_Testing_Info_3=(this has no effect in FIFO mode :
Pessimistic_Testing_Info_4= +turn off FIFO for "optimistic")
Pessimistic_Testing=false
Funky_Exit_Info=Exit trades sooner
Funky_Exit=true
Money_Management=---------------- Money Management
Min_Lots=0.001
Max_Lots=1000.0
Risk_Info_1=Fixed risk % of balance per order
Risk_Info_2=NOTE : Trading volume is very variable
Risk_Info_3=as stop losses are in different distances
Risk=2.0
SL_TP_Trailing=---------------- SL / TP / Trailing
Trailing_Resolution=3.0
Use_Stop_Orders_Info_1=Set true if 1) your broker doesn't deal with
Use_Stop_Orders_Info_2=opening slippage when executing STOP orders
Use_Stop_Orders_Info_3=and 2) broker stop level is <= 2.0 pips
Use_Stop_Orders=true
Hard_Stop_Trailing_Info_1=Trailing hard Stop/Loss and Take/Profit
Hard_Stop_Trailing_Info_2=Otherwise, doing it in programmatic manner
Hard_Stop_Trailing_Info_3=and SL/TP is just for covering
Hard_Stop_Trailing=true

----------------------------------------------

Yes, I did fill in my username (Receipt number).

Did you go into your MT4 options under Expert Advisors and check the box that says "Allow Live Trading"?

 

[Crystal Es]

Did you go into your MT4 options under Expert Advisors and check the box that says "Allow Live Trading"?

.
Yes, I did. It's running on VPS.
Also, seem no reply from support@milliondollarpips.com
Weird, eh?