I only need to earn 3-4 percent a month. Anyone have any idea what one i should choose or any other bot i should pick?
What bot should i pick? Million Dollar pips? smartfxtechnology? Fx Growth bot?
MDP seems to have good results, but choose the right broker (with tight spread), and good VPS.
This guy “adi3001” shares his live acc using MDP, results are good since he bought it in Jan 2012.
Check it out!
http://forums.babypips.com/expert-advisors-automated-trading/39243-million-dollar-pips-64.html
I bought MDP on 03/12/2012 for $99. Good price, one time-only payment. I installed it with some difficulty, as the settings did not “take” on my computer, but after considerable tweaking, I got it going. I had to email William Morrison, the creator of MDP, who was helpful and responded in a timely manner.
MDP trades on the EURUSD currency pair, and the first thing I noticed was that it did nothing. It simply did not trade. I checked the settings, re-checked them and finally emailed Mr. Morrison. He suggested changes even though the manual said to leave them alone. This occurred many times but MDP did not trade. Finally, after several weeks, it opened some trades, small ones, as I had it set to take only minimum pips. It lost money, not much, but it started out losing. It didn’t trade much again, and even stopped for another few weeks. Mr. Morrison visited my computer this time, via TeamViewer. More tweaking. MDP opened more trades, won a few, but steadily lost more than it made.
In the meantime, MDP created two more BOTs, one that traded on USDJPY, the other on GPBUSD. They were the same one-time price, so I bought and installed them. Meanwhile the EURUSD bot traded just slightly more, but still, continued to just lose a little money each week. The two new bots didn’t do anything–and I mean, NOTHING. Again, I emailed Mr. Morrison, who re-assured me they would. They didn’t.
I kept the first BOT because of Mr. Morrison’s re-assurances, even though I went past the 60 day return deadline. I kept the first BOT and it still trades very little, still continuing to lose just a little more than it earns. I’ve tweaked its settings in every way, but it continues to be a non-producer. I returned the second and third BOTs before the 60 day deadline because they never did trade more than once or twice in two months. Mr. Morrison gave me a bit of a hassle returning my money, but eventually did.
The most remarkable thing about these BOTs is that they are very, very UN-remarkable. Mr. Morrison’s sales page says they made over 2.4 million dollars. At my current rate of profit, I’ll probably lose a hundred bucks over the next year. Can you say false advertising? To say that Mr. Morrison’s claims of making the big bucks is misleading, is very, very kind.
Mr. Morrison pitched me on his newest BOT, PhantomFX. That was a total disaster. I comment on that in another review. MDP isn’t even close to what is advertised.
STG
Hi stgbiz. I have been using SmartFx Breakout Hunter for3 weeks. Almost 9% gain. I also use there Master Scalper but run only one of those due to low balance. I am very happy with Breakout Hunter. You can see my live acct on myfxbook. Search for Anubis. Choose Anubis from the list. I am also setting up a demo test for PipJet. Will post it as soon as I can get myfxbook set up for it.
I’m wondering why people after finding out that it does not work, even pay money for another two such “robots”!
From what I’ve seen, the only one who really makes money with robots is their vendor, but even then probably not much, because it’s too known meanwhile that such robots are scam.
The performance figures posted on robot websites are in hindsight, with in-sample testing. So they are not from real trading. And as to the customer testimonies, well, if a robot just places random trades, it will lose in 7 months of the year and win in 5 months (not 6/6 due to spread). So naturally there are always many customers who have winning months at first, and post enthusiastic reports. But I think you won’t find a real customer who traded with such a robot for long time, like a year, because they all stop trading sooner of later when their money is gone.
I know that it’s possible to make profit with an automated strategy, but it must be a little more complex that trivial TA. The days of turtle trading system are over.
On MDP,
I don’t own it and have no intention of owning it.
It trades on large spikes in the market. That is why it does not trade every day.
The spikes are usually caused by some type of news. At these times the spread is at its highest.
You would need to do your homework on broker spread, etc at news times to run it successfully.
Look at this account and click on the ‘Browser’ tab to see what i mean.
Million Dollar Pips EURUSD System | Myfxbook
Forex Growth Bot
Forex Growth Bot System | Myfxbook
Smart FX master Scalper
Smart FX Master Scalper System | Myfxbook
Smart FX Breakout Hunter
Smart FX Breakout Hunter System | Myfxbook
But they probably ‘did’ make 2.4million dollars…from selling the thing for $99 24,242 times
You can Beta Test my Eurusd bot for free here if you want. Just let me know how it goes.
oh try it on a demo first or something. Don’t go live with it.