Million Dollar Pips (By milliondpips)
| Gain : | +26241.17% |
| Drawdown | 39.44% |
| Pips: | 5202.2 |
| Trades | 4497 |
| Won: |
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| Lost: |
|
| Type: | Demo |
| Leverage: | 1:200 |
| Trading: | Automated |
Million Dollar Pips Discussion
Mar 05, 2012 at 12:31
you have to activate the FIFO option ONLY if your account is constrainted by the FIFO rule. which is applied to US resident. The FIFO is not a good option for EA's users. So we dislike this option.
but US resident suffer this issue, not the other peoples.
also some brokers accept US resident but didn't apply the FIFO rule.
I Think IBFX AUS didn't apply the FIFO rule even for US resident (not sure)
well... check your account type and then disable the FIFO option is the best option.
but US resident suffer this issue, not the other peoples.
also some brokers accept US resident but didn't apply the FIFO rule.
I Think IBFX AUS didn't apply the FIFO rule even for US resident (not sure)
well... check your account type and then disable the FIFO option is the best option.
Member Since Aug 15, 2011
117 posts
Mar 05, 2012 at 14:25
@ sachinsyd: FIFO=false for IBFX(AU or not), AutoApplyECN=false, but leave UseStopOrders, Hardstoptrailing to true.
Spread warnings are ok, it will still trade.
One small loss trade for me at IBFX, but others there have no trade. That's not uncommon for MDP ...
Fred
Spread warnings are ok, it will still trade.
One small loss trade for me at IBFX, but others there have no trade. That's not uncommon for MDP ...
Fred
Member Since Dec 15, 2010
795 posts
Mar 05, 2012 at 19:29
I set up all my group members with fifo on. It seems to work best. Im from the USA and many members are not, but I still have fifo on for all accounts.
Click on my Name to see My Live Charts and Bio.
Member Since Aug 15, 2011
117 posts
Mar 05, 2012 at 22:10
Hey Garry,
do you mean that it makes a difference for trading results and produces more profit? - I haven't tested fifo=true, but can not imagine why it should make a difference considering the trading-style of MDP.
Fred
do you mean that it makes a difference for trading results and produces more profit? - I haven't tested fifo=true, but can not imagine why it should make a difference considering the trading-style of MDP.
Fred
Member Since Aug 12, 2011
40 posts
Mar 05, 2012 at 23:38
I am using IBFX US and have fifo off and hard trailing stop true. I read in another forum that US Brokers automatically enforce fifo rules so we dont have to worry about which trade to close first. In the post I am referring to the author made the case that everything you add for the ea to do simply slows down the speed of the ea. The forex police have not come after me yet. :)
Professor53 posted:
I set up all my group members with fifo on. It seems to work best. Im from the USA and many members are not, but I still have fifo on for all accounts.
Mar 06, 2012 at 21:16
Hi Fred
It didnt trade once in past 30 hours at ibfx(au) so I moved to another well known broker with lower spreads. but the error now is that the stop order level is greater than 0.00030. Do u think it is ok to have 0.00050?
Thanks
Sachin
It didnt trade once in past 30 hours at ibfx(au) so I moved to another well known broker with lower spreads. but the error now is that the stop order level is greater than 0.00030. Do u think it is ok to have 0.00050?
Thanks
Sachin
Member Since Feb 28, 2012
29 posts
Mar 06, 2012 at 21:47
@sachinsyd stop order level with 5 pips is not suitable for MDP. Stay with IBFX AU or search for another broker. And be a little more patient, it's normal that MDP doesn't trade for a few days, it will trade accordingly with IBFX AU, just wait.
To become old and wise you have to be young and stupid first.
Member Since Dec 15, 2010
795 posts
Mar 07, 2012 at 06:13
Fred_Forex posted:
Hey Garry,
do you mean that it makes a difference for trading results and produces more profit? - I haven't tested fifo=true, but can not imagine why it should make a difference considering the trading-style of MDP.
Fred
Since I had no option in FIFO on,Being from the USA, My chart reflexs that setting on my VPS setup and the new members wanted the same set up.
Garry
Click on my Name to see My Live Charts and Bio.
Member Since Aug 15, 2011
117 posts
Mar 07, 2012 at 10:03
(edited Mar 07, 2012 at 10:31)
- Eddie is right with his post, I agree it will not work with a stop level of 5 full pips.
- I thought IBFX handles FIFO internally for the US, not in MT4. See the statement on this page (lower part): https://www.ibfx.com/Platform/Free-Forex-Demo-Account But the statement is rather cryptic, someone would have to try it out or to ask them directly to be sure, I guess. But I think either setting is ok.
It is possible that MDP only trades again on Friday, hopefully to our success!
Cheers
Fred
Add: I forgot ECB rate decision and press conference today, this could make MDP wake up, too 😀
- I thought IBFX handles FIFO internally for the US, not in MT4. See the statement on this page (lower part): https://www.ibfx.com/Platform/Free-Forex-Demo-Account But the statement is rather cryptic, someone would have to try it out or to ask them directly to be sure, I guess. But I think either setting is ok.
It is possible that MDP only trades again on Friday, hopefully to our success!
Cheers
Fred
Add: I forgot ECB rate decision and press conference today, this could make MDP wake up, too 😀
Member Since Aug 16, 2010
453 posts
Mar 07, 2012 at 10:39
There is no ECB today. There is ADP Unemp from US. In rare case it can provoke a trade from MDP
Was mich nicht umbringt, macht mich stärker.
Member Since Aug 15, 2011
117 posts
Mar 07, 2012 at 11:07
Oh, I have been mistaken, ECB is Thursday. I am already ahead in time 😳
Mar 07, 2012 at 12:06
Professor53 posted:
I set up all my group members with fifo on. It seems to work best. Im from the USA and many members are not, but I still have fifo on for all accounts.
So the Hardstop is set to false, right? Or do you have both FIFO and Hardstop on TRUE?
Member Since Aug 15, 2011
117 posts
Mar 07, 2012 at 14:58
(edited Mar 07, 2012 at 15:05)
These settings are not connected. I always advise to leave Hardstoptrailing on true.
Fred
Fred
Mar 07, 2012 at 15:05
(edited Mar 07, 2012 at 15:13)
Oh, they are. At least in 1.16 if I set FIFO true, then Hardstop is set to disabled. Maybe 1.2 is different?
Late edit: I just checked version 1.2 on another account and also, if I set FIFO:true, then Hard_Stop_trailing automatically switches to false.
Can you confirm?
Late edit: I just checked version 1.2 on another account and also, if I set FIFO:true, then Hard_Stop_trailing automatically switches to false.
Can you confirm?
Member Since Aug 15, 2011
117 posts
Mar 07, 2012 at 15:45
There is nothing in the manual about it and I have always used FIFO=false. But I think you are right and found out an important thing!
One can see the difference in trading here:
Professor53 account with FIFO=true as he told us:
https://www.myfxbook.com/members/Professor53/prof53-mdp-lawrence-nyc/163841
- no exit by S/L in profit
compared to Dan's account using FIFO=false (see his post yesterday) and obviously with Hardstoptrailing=true at the same broker:
https://www.myfxbook.com/members/tradinfool/dan-mdp/148717
- MDP exiting trades with S/L in profit
So, what to learn from it?
I still think that Hardstroptrailing=true gives better results, so one should avoid brokers that enforce FIFO in MT4. But obviously FIFO=false (and therefore also Hardstoptrailing) can be used even with US IBFX, as Dan stated yesterday.
Cheers
Fred
One can see the difference in trading here:
Professor53 account with FIFO=true as he told us:
https://www.myfxbook.com/members/Professor53/prof53-mdp-lawrence-nyc/163841
- no exit by S/L in profit
compared to Dan's account using FIFO=false (see his post yesterday) and obviously with Hardstoptrailing=true at the same broker:
https://www.myfxbook.com/members/tradinfool/dan-mdp/148717
- MDP exiting trades with S/L in profit
So, what to learn from it?
I still think that Hardstroptrailing=true gives better results, so one should avoid brokers that enforce FIFO in MT4. But obviously FIFO=false (and therefore also Hardstoptrailing) can be used even with US IBFX, as Dan stated yesterday.
Cheers
Fred
Mar 07, 2012 at 15:50
hardstoptrailing is also an important security feature.
if there is any connection issue, the SL well save the trade.
imagine you start going in the right direction and you loose the connection to the broker.
if the SL was moved then the trade will be stopped in profit.
if you do not have the SL moved before the disconnect, you can loose a lot!
also this option helps the trade when the connection is slow or if the broker is slow to execute your commands. the SL is managed on the server side and this reduce the latency to close the trade. so again, this will helps MDP closing with (maybe) better profit or less losses.
if there is any connection issue, the SL well save the trade.
imagine you start going in the right direction and you loose the connection to the broker.
if the SL was moved then the trade will be stopped in profit.
if you do not have the SL moved before the disconnect, you can loose a lot!
also this option helps the trade when the connection is slow or if the broker is slow to execute your commands. the SL is managed on the server side and this reduce the latency to close the trade. so again, this will helps MDP closing with (maybe) better profit or less losses.
