New Forex EA, Million Dollar Pips, by creator William Morrison, is a scalper robot that aims to explode your accounts profit is a short period of time without huge draw down or unreasonable risk.
Sounds too good to be true, but the back and forward tests I’ve seen don’t lie. It reminds me a lot of Wall Street Forex Robot. As always, time will tell.
So, what are the key things to consider with if you use Million Dollar Pips.
- Trades EURUSD M1 Chart
- Opens multiple trades at once
- Option to open less trades
- Trialling Stop Loss recommended but optional
- Optional pair USDJPY
Let’s see how it goes in the lab:
Test 1: Vendor Strategy Testing
Not independent. Taken from Vendors site due to technical issues running the back test.
Test 2: Demo Test
Currently running Million Dollar Pips on Alpari UK, testing started on 13th June 2010. Current results are as follows:
Test 3: Live Trial
Currently running Million Dollar Pips on Gomarkets “Real Money” Standard account. Testing started on 11th August 2011:
Million Dollar Pips is primarily dependent on the broker you use and the latency to the broker via your home PC or VPS. The best results have been found when using brokers with low spreads on EURUSD, with a PC or VPS connecting to the brokers closest Data Center in less than 35-40 milliseconds.