Million Dollar Pips Discussion

Then you need to find a better broker, I had only very small losses, not one order ran to the full stop loss for me.

how much is the opening slippage then? this also matters...

   mcymcy posted:
   Yes also my brokers mod t. is about 300ms...MDP lost it's profitability...

   geektrader posted:
   Cinar: Lost it´s profitability? Do you really think it is ALWAYS winning each and every trade? It has drawdowns as well, just like any strategy. There is NO strategy that wins all the time. I´ve run several tick-data backtests on EURUSD from 2001 to 2011 for MDP, there ARE drawdowns, but the curve is almost straight over 10 years and I haven´t seen any other EA like this without that it uses a martingale or a stop loss of 300 pips. In my tick-data backtests from 2009 April to 2011 October, MDP made 92441 Euro with a drawdown of just 4580 Euro and 5316 trades - with a fixed lotsize of 1. That is incredible good!

You should stop trading forex or any instrument if you can´t take a few losses for a long term perfect growth.

I agree.
also MDP has a parameter to improve backtesting results. you can set the pessimist testing to true to add slippage to the results. so you can see a realistic back test result.
no other bot provide this important feature (from my knowledge and the bots I have tested)

Problem is not a slippage (I mostly get none even for huge orders), but delay in execution, so order has been submitted, but while it is being processed price moves to the requested level and execution is erred, position not modified. This is much worse than any slippage and its impossible to simulate.

No worries about my backtests, I´ve used Dukascopy tick-data and have been live-trading MDP since a few months now. When now running the tick-data backtest for the months I´ve live-traded MDP, the trades almost match 99% to the ones I had on my live account.

Well then I am happy for you. Experience though tells once you start trading bigger execution will start deteriorate or broker overall start to deteriorate. I still think MDP can be used profitable, but some thinking needs to be applied.

Yep:)

Problem IS slippage once you move to an ECN (like I am), and MMkers are out of the question - I have yet to see a honest MT4 dealing desk broker that doesn't turn into a bucket shop in the long term once you start to be profitable.
And oddly enough, now the people trading a gazillion full lots (...) realize that indeed trading nanolots and mammoth-sized lots is not the same. Why? Because the EA failed on one spike? Please. I also lost 5% of my account but one trade tells nothing, and besides October has been a fantastic month. Only time will tell if the EA will be profitable in the long run, but I am still positive based on what I've seen so far.

P.S. I have to give credit to William Morrision (creator of the EA) for still answering mails promptly and offering support when needed, he also assured he will be offering updates at no extra charge. The upsell is still not an option for me, but this guy has some sort of integrity, which is rare in this FX environment of quick bucks and scams. So still thumbs up to MDP.

I know one honest market maker that is not cheating. It's FxPro.

   crashev posted:
   I know one honest market maker that is not cheating. It's FxPro.

With 2.5 spread on EUR/USD ??? You must be joking

   crashev posted:
   I know one honest market maker that is not cheating. It's FxPro.

They cheat on you with the Stops level of 5 pips.. that's stone age broker bucketshop level

lobotomy8: Jesus, do Your homework before posting a bullshit.

First it's usually around 1.6 pips, right now I just looked and it was 1.3 pips and second it's market maker, they don't charge any commssion on top of that and what's important they do not cheat winning clients - I'm far than a year with them and everything works smooth.

btw. I don't recommnend them as broker for MDP, I don't use MDP with them.

ForexPro: yes they stoplevel is a little high, however I use there strategies that don't care about such a stoplevel.
I didn't have any other issues with them.

btw. For most guys here every broker is scamming them, so just stop trading.

   crashev posted:
   ForexPro: yes they stoplevel is a little high, however I use there strategies that don't care about such a stoplevel.
I didn't have any other issues with them.

btw. For most guys here every broker is scamming them, so just stop trading.

Since you don't trade mdp there, you are in the wrong thread to promote FxPro. That's why you get these reactions, nothing else..
Ofcourse you can swing trade on the daily chart on every bucketshop broker😝

It's not that every broker is scamming us (or at least me), we're rather talking MDP here and the question is finding a broker which is suitable for this kind of beast specifically. But then again, it's MT4 technology in general which is probably inadeguate for HFT, but that's another topic...

At the last spike ' Open Slip Too High' appeared. Can anybody explain what is it and how to prevent it ?

I got into the spike, and MDP strikes back (+53 pips)... 😎

I got some too, but my broker has deteriorated a lot last week. I have switched down to 1 max trade normal risk and will run another test with 8 trades minimal lot for comparison. Lots of errors, slow modification, not timely order closure, trail stop, etc.

Started my live account with FinFX on Nov 1, and had some bad trades which brought me down 6% in one whole day (ouch), but today recovered some and down 3%. Hopefully we keep seeing some wins :)