Million Dollar Pips Discussion

Hedge, the logic always is coded in DLL, otherwise it will be just too slow in MQL. No need to worry about details. I think it makes sense to have an interface to FIX for a good ea. The reason why they don't do it because you can't sell it in any meaningful numers. FIX API to institutional brokers is available usually for accounts starting with 100K balance, how much of those can you sell, a dozen or two maybe, not thousands. FGB can get around it with a trade copier from MT4 to JForex or even maybe to FIX, but MDP needs a direct implementation. I don't think William or anyone behind it will be interested to do that for anything less than outrageous amount of money. So it will be better to do that on your own.

Nope, demo will give you zero slippage, no requotes, and often even the spreads don't match with the live quotes. Bridges will only slow you down and with MDP every single ms is vital. This is one strategy where you have to go live and see if the broker's servers can handle the EA's loads, but that has been amply said here and elsewhere...

   mistificator posted:
   Hedge, the logic always is coded in DLL, otherwise it will be just too slow in MQL. No need to worry about details. I think it makes sense to have an interface to FIX for a good ea. The reason why they don't do it because you can't sell it in any meaningful numers. FIX API to institutional brokers is available usually for accounts starting with 100K balance, how much of those can you sell, a dozen or two maybe, not thousands. FGB can get around it with a trade copier from MT4 to JForex or even maybe to FIX, but MDP needs a direct implementation. I don't think William or anyone behind it will be interested to do that for anything less than outrageous amount of money. So it will be better to do that on your own.

Well...
use MDP with MT4, win 100K$ (should takes 3 or 4 months if MDP works as expected)
then pay William to create another version of MDP for FIX or another platform...

   Professor53 posted:
   Possible spike coming in 4hrs from now. 😎

Nice spike, two hours later than you have predicted, but due to the profits made, still acceptable ;-)

   HedgeEdge posted:
   Nope, demo will give you zero slippage, no requotes, and often even the spreads don't match with the live quotes. Bridges will only slow you down and with MDP every single ms is vital. This is one strategy where you have to go live and see if the broker's servers can handle the EA's loads, but that has been amply said here and elsewhere...

I am not even sure it will work on demo, I did manual tests there and it was acting bit weird. What I mean with this bridge it makes no sense to commit to live unless demo is ok. Demo with FTT will be quite close to real, as they don't do internal demo but replicate a live conditions by connecting to Dukas demo accounts. And if you traded on Dukas you should know that demo is very much like live, also generates slippages, delays, the only difference is if you put a huge live order will may have to deal with liquidity issues while you won't be having problems on demo.

Thanks for your kind advise, you have outlined for me a road to prosperity ;)

While I love MDP and FGB I think I will be better off studying their trading strategy and investing into my own development to keep it for myself rather than paying William to do an interface while I still don't own the technology. For me this is a long term business, not aquick cash scheme. Steady wins the race.

   willgart posted:
   

   mistificator posted:
   Hedge, the logic always is coded in DLL, otherwise it will be just too slow in MQL. No need to worry about details. I think it makes sense to have an interface to FIX for a good ea. The reason why they don't do it because you can't sell it in any meaningful numers. FIX API to institutional brokers is available usually for accounts starting with 100K balance, how much of those can you sell, a dozen or two maybe, not thousands. FGB can get around it with a trade copier from MT4 to JForex or even maybe to FIX, but MDP needs a direct implementation. I don't think William or anyone behind it will be interested to do that for anything less than outrageous amount of money. So it will be better to do that on your own.

Well...
use MDP with MT4, win 100K$ (should takes 3 or 4 months if MDP works as expected)
then pay William to create another version of MDP for FIX or another platform...

   mistificator posted:
   

   HedgeEdge posted:
   Nope, demo will give you zero slippage, no requotes, and often even the spreads don't match with the live quotes. Bridges will only slow you down and with MDP every single ms is vital. This is one strategy where you have to go live and see if the broker's servers can handle the EA's loads, but that has been amply said here and elsewhere...

I am not even sure it will work on demo, I did manual tests there and it was acting bit weird. What I mean with this bridge it makes no sense to commit to live unless demo is ok. Demo with FTT will be quite close to real, as they don't do internal demo but replicate a live conditions by connecting to Dukas demo accounts. And if you traded on Dukas you should know that demo is very much like live, also generates slippages, delays, the only difference is if you put a huge live order will may have to deal with liquidity issues while you won't be having problems on demo.

I have traded with Dukas once they opened the doors to retail traders ($5.000 account) but in all fairness the spreads aren't that spectacular. But, they have acquired bank status and if you're worrying about security of funds, this is the way to go. The liquidity of depth, I'm not sure since I rarley trade more than 1 standard lot, so I can't tell because I don't really have monster volumes at stake... orders were filled with no big issues as far as I can say, but I ended up migrating.
Truth is MT4 brokers are more flexible in that you can use EAs as well, but finding one that is not a bucketshop in disguise is a hard task in itself. I think I've found one, but only time will tell if they stay true...

   HedgeEdge posted:
   

   mistificator posted:
   Maybe if you will think more about making your money instead of whining how much they make you will see a progress for a change. Frankly bots like MDP or FGB for 99 is a steal of the century. For performance they are capable of and profits they can generate it is not unreasonable to pay hundreds of thousands dollars in development just to keep this for yourself. I am not concerned with FGB and I hope losers will soon forget about MDP and will move to the next big release of the year and will stop loading up brokers servers with their nonsense microlot transactions decreasing performance for real traders. I will give it 6-8 weeks at most before many will shift to the next holy grail.

   HedgeEdge posted:
   FGB has not released an update for a while now, and they're slower to respond to mails (FGB is a great bot indeed). But, it's very clear that they are pushing on MDP as it's the hottest thing right now: now they're adding upsells, 'exclusive' updates to squeeze the last dollar out of it - until the next EA. If they concentrated on making great bots (and they're able to) and stopped the crap, I'd be more than happy to even pay more than $99 bucks for the EA. The rest is disgusting.

I'm not whining, I'm laughing myself off, but like I said, if you can't figure out how to make this nice piece of EA engineering work on your own (because it's no doubt a nice EA in how it exploits volatility spikes, the idea works), you obviously have to pay big bucks to the developers team. Go ahead, I think we can live in peace with that. As for me, I have found the right broker/settings combo after a bit of pain (i.e. lost money on brokers slipping me and delaying order modification, etc.) and long hours of due diligence around the net working my butt off.

A final note, if you think that an MT4 bot takes hundreds of thousands of dollars (!!!) to conceive and develop, you're a bit out of touch I'm afraid. All it takes is a good strategy, an MQ4 editor (or, you can program it from scratch if you're good enough) and some marketing expertise to sell it. I give credit to William but PLEASE stop treating this guy like he's the next David E. Shaw or something. It's just an MT4 robot that will work until the next one, and the wheel keeps rolling.

I have developed about a dozen robots for MT4 and have hired programmers to do the work. I have never paid more than $250 to get the work done and that includes bug fixes. I went through Scriptlance and got bids to do the work from expeienced MT4 programmers.

OK so it costs about $250 to get the whole job done, interesting insight, I thought it was more like hundreds of thousands, lol.

Seriously guys... William Morrision, if you're reading this, shame on you man for that $79.00 monthly fee... 3 months subscription fee from ONE customer and you could make an entire new bot completely from scratch, one that makes money, not marketing bullcrap to turn you into a fatcat overnight, but I've said enough on this topic, I'm better off trading, see you all. 😄

what you pay is what you get

   mistificator posted:
   what you pay is what you get

I got great service through Scriptlance. Some of the programmers have coded in excess of 100 Expert Advisors and Custom Indicators. Each programmer (and customer) receives ratings for the quality of work and the relationship. If you get low marks then you don't get hired. The programmer I have used for most of my projects lives in Indonesia and has done really excellent work. He has gone on to other business opportunities but I have developed a personal relationship with him through all the work he as done for me. If you hire a US based programmer you will pay much more to get the work done and the quality is not any better.

It is possible that Mr. Morrison has his own staff of programmers and it costs him more to get work done. But I doubt it. Anyway, I am very happy with the results of MDP.

   HedgeEdge posted:
   OK so it costs about $250 to get the whole job done, interesting insight, I thought it was more like hundreds of thousands, lol.

Seriously guys... William Morrision, if you're reading this, shame on you man for that $79.00 monthly fee... 3 months subscription fee from ONE customer and you could make an entire new bot completely from scratch, one that makes money, not marketing bullcrap to turn you into a fatcat overnight, but I've said enough on this topic, I'm better off trading, see you all. 😄

It is very possible that the coding for MDP may be way more complicated that the coding I had done. I will give him the benefit of the doubt and assume it may have cost him more than I paid since most of my EA's were not that complex.

what stops you to sell your 75$ ea via Click and earn millions too if it is any good? i coded scripts and eas myself and it cost me nothing. can i draw a conclusion from it? nope.

If William really wanted to help his current customers, he would increase the price of MDP. But instead, he is keeping the price low, so everyone and their grandmother can jump on board, overloading brokers' servers. Then he offers a solution to give you 'secret' list of brokers which MDP will still work on, if you subscribe to a monthly membership, thereby filling his pockets even more. Pretty ingenious (and greedy) of him if you ask me.

All this crap with 'paid monthly subscription' suggests that probably market has been saturated, there is no more potential for MDP to sell big amount of copies still, and therefore William is looking for another source of income

Every week, I see at least a couple of newbies popping up, asking about settings, recommended brokers, etc.

To Old Chart Reader, Ty for the heads up on Scriptlance for building a custom built EA. It would make a great addition to my MDP.

guess I need to clarify again. The development and implementation of MDP as an EA could easily have been done by one person for no cost other than time. The actual costs add up to thousands when you look at having to pay people for their time. So if you hire a single programmer to make it....let's say it cost $250. All done. no more charges. No paying anyone for further development. no paying anyone to provide support. No paying for internet sales and marketing. Now, how many people have seen that there has been further development, support, sales and marketing, etc.....that would require someone to invest their time? Now....how many of you believe that all of this is done by volunteers free of charge? So, let me state again...it cost thousands.

* opening a paypal account to support the sales transaction required few minutes
* marketing???? is there any pub on TV? no, just post some results on myfxbook, publish messages in forums, and emails to the majors EA's related sites, cost? nothing, only few hours
* creating the same site founded using the same template available for near all the EA on the market? well... nothing again.
* support? 1 guy is enough

so finally, this costs 250$ maybe few more $ to host the site...
and there is a lot of free resources available on the net to host sites, manage a customer list etc...