First time ever I’m interested in an EA. I’ll be checking in to see what results you get Johnny! You do a good job of systematically testing EAs, if you keep having success I may have to start thinking about changing my mind on EAs…
Awesome 
You know anything that can give us a consistant edge in the market is worthwhile. For me, I had to realize that ea’s are not designed to capture every single good opportunity but rather they look for one specific condition that is there edge to repeat over and over again and as long as that edge doesn’t disappear than the ea will remain profitable.
A good example of this is forex morning trade. It was my favorite ea for months and months but than it started to do crappy and got to a point now where it can barely stay break even. So I have reduced my risk and I will continue to trade it because I believe it may become viable again in the fall. But the bottom line is to constantly observe and most important is money management just like in manual trading it is the holy grail of survival and profitability.
Hi,
I’m from Singapore and would like some advise on this Million Dollar Pip (MDP) system. I’m new to forex EA & tried fapturbo but it did not worked on my system but i got a refund.
(a) How is MDP installed and run? Does it require MT4 or Metastock etc…?
(b) Can it run on my home PC or do i need a VPS service?
© Are there any MDP users in Singapore whom i can contact?
(d) Is there any demo account for MDP?
(e) Is there any forex broking house that can support MDP in Singapore?
(f) Is there a faq for MDP?
Thanks in advance.
Simon
hi,
welcome!
a) it requires mt4, but you get it for free from your mt4-compatible broker
b)you could run it frome home. but a vps should have a more stable internet connection and runs 24/7. i use thrust vps @~12USD/month
d)you´ll find their account on their fxbook-statement on their website: klick
e) i run mdp at hotforex, they accept users from singapore. i use hotforex because i get rebates on the spread through FTC. mdp trades often, so you should get forex cashback as well.
f) i dont think so. but they have a support that answers questions quickly: <[email protected]>
gutzkus thanks for your excellent post
Any updates?
not much happening. To be honest mdp is breakeven at best right now. I am only making money on rebates. I have not installed the newest version and there is some question as to settings. I could be much more selective and catch better moves or I could let it overtrade and earn rebates and break even.
As of right now…38 total trades and +12.3 pips win rate average 41%
hi johnny, just wondering how are u doing with mdp? i was looking at bestforexrobots.net and it seems to be doing rather well, however on some forums it seems to be getting some rather negative feedbacks, any views on this?
right now it has had 45 total trades and +33.4 pips with a profit factor of 1.34
my hotforex account has earned $49.04 in commissions and about $57 in profit from trading for a net total of about $106 profit on what was initially a $450 account
so actual growth from the robot is about +12.5%
and the commisions equal about 11% of my account
for a[B] sum total of around 23.5% growth in about 12 days
[/B]
Hi Johnny,
Seems like you have missed all trades on MDP yesterday. I had 13 trades total with only 2 loses on the newest version 1.1.3
Does this EA not work on ECN accounts? On my FXOpen ECN account it won’t open trades because on an ECN account you can’t create a stop loss with the initial order, you have to modify the order later. My other EAs are fine doing this, but MDP is giving me invalid stops errors. FXOpen doesn’t have a limit on the size of the stop loss, so that isn’t the issue. I emailed support, but he believes that it’s because FXOpen does have a limit on stop loss, even though I explained that this isn’t the case.
I thought you opened a no commission micro-account which is supposed to be without commission ?
What kind of account do you have?
Regards
Francois
I did open micro account. I think hotforex still refers to the spread as commision on the affiliate page.
Johnny,
The spread difference is the commision for affiliate page. As example, if you Pay 2 pips spread, that’s $20 per lot in spread fee, while your affiliate will see it simply as commision fee. If a booker shares 30% of the spread with affiliate, affiliate get’s $6 per lot, and if you get 50% of what affiliate gives you, you get $3 from it. 
Hope that made thing clear.
If you are totally for rebates and bonuses, you can set up million dollar pips to trade most frequency and lower the slippage.
Hope that made thing clear.
If you are totally for rebates and bonuses, you can set up million dollar pips to trade most frequency and lower the slippage.
Read more: 301 Moved Permanently
I’m looking for a balance between rebates and profitablility. Mostly I want profitability
The website seems shady to me. If his EA was as successful as he claims, why would he be trying to sell it for $99? Clearly the EA is “a license to print money”, why waste the time grabbing some chump change off some random dreamers? I’d be more inclined to take interest in it if it were free. I know several people who have made it big in the forex business, and they don’t say to themselves “Hey, I’m making so much sick-ass bank, I should sell this to people!”
Nevertheless, I would be interested in your long term stats, but ol’ skeptical PipJaeger remains skeptical.
I like the skeptical cat lol!!
Anyway PJ heres the deal. I get em and test em. I agree the site is a little cheesy. I always try to look past the marketing. This ea is unique and if it is profitable than it will make a good addition to my portfolio +plus the rebates I think it has potential.
Anyway let me ask you this? Is it wrong for me to make commissions off of my trades, after all if I am successful than why do I need to bother? The answer is simple. Successful people think differently than the crowd. They see ways to make money or to diversify and they put an action plan in place and make money, or if they lose they continue to try new approaches.
Its an age old debate, if he is so successful as a forex trader why bother market? I say why not. I am an electrical contractor, home owner, trader and all around entrepreneur and maybe my attitude seperates me from others who do not find success. I like to think so because I am hungry for success and I thirst for it and I am driven. My goal is time freedom so I can travel and do whatever I want. I see my goal in a similar way that I see my portfolio. Diversification is good. Multiple streams of income is good. If MDP earns a million bucks from this ea by selling it than God bless him. As long as it is not crap.
If a person knowingly sells crap than he is a douche bag! I personally have been in contact with this developer and spoke with him on Skype. He is a great person and genuine. Most important he stands behind his ea.
Anyway everybody makes up there own mind. I am for diversification and if I had something good I would sell it and add to my profits, God’s honest truth.
BTW so far I am very happy with this ea. It has been in positive territory since I started it and making pretty decent returns and the rebates I am getting are like a sweet bonus, my icing on the cake.
Hi Johnny,
Seems like you have missed all trades on MDP yesterday. I had 13 trades total with only 2 loses on the newest version 1.1.3
Read more: 301 Moved Permanently
yea I don’t know what happened. I am checking my vps and also communicating with support to see if something is wrong and if so how to correct it.
I have got MDP v1.1.3 set to default. I have had it running since Monday 24/7 on my Hot Forex Live account. Can you confirm your setting please because since Monday (26/06/2011) it has only done 3 trade which all lost. I am on the default settings in M1 Timeframe. HEEEELLLLLLLPPPPPP!!! I want this to work, also can you explain to me how i get the rebates ??? thanx:53: