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Million Dollar Pips (By milliondpips)

Gain : +26241.17%
Drawdown 39.44%
Pips: 5202.2
Trades 4497
Won:
Lost:
Type: Demo
Leverage: 1:200
Trading: Automated

Million Dollar Pips Discussion

fughe (fughe)
Feb 07 2012 at 09:36
724 posts
Or actually, reduce your risk now while you still have an account to reduce your risk on. if you are getting zero slippage, it is temporary unless you have a special insider arrangement. Without that, you will either start getting requotes, or they are waiting until the right time to freeze the data feed on you so they can clean out your account.

Make losses, but always come out a winner at the end.
mistificator (mistificator)
Feb 07 2012 at 09:38
453 posts
do the right thing, send your account to us, at least we promise to trade it wisely and responsibly on non-zero slippage account!

Was mich nicht umbringt, macht mich stärker.
ForexMentor
Feb 07 2012 at 14:20
53 posts
Another 8.6 pips banked

What does all this mean ? The Warnings...Im guessing its stopped trading due to slippage ?




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iwillsurvive
Feb 07 2012 at 14:26
47 posts
finally your broker put you on the real market

Armada Markets 5% discount, Axitrader $1.50 discount, IC markets $1.50 disc, LMAX 12% discount, Price Markets 5% disc, FinFX (accepts US traders) $0.7 ECN disc, Global Prime $1.50 discount, SynergyFX $3.50 discount, Blackwell Global $6 rebates - Abundance Trading
ForexMentor
Feb 07 2012 at 14:31
53 posts

   iwillsurvive posted:
   finally your broker put you on the real market


Yep but I assume that this is good and has prevented MDP trading in dodgy condtiions

crashev
Feb 07 2012 at 14:38
320 posts
Yes I noticed that even ECN brokers tend to first play against You - meaning they open positions against You,becuase they know most of the ppl lose their money trading. As soon as they find out You are the one who is winning they start forwarding You to the real market and suddenly You start to see slippages, ofter slower execution - which of course does not have to mean You will be losing from this point on.

Your stats are still not bad. Had worseand was still winning, however consider lowering max sim orders.

Better to lose an oportunity than a money
mistificator (mistificator)
Feb 07 2012 at 14:47
453 posts
That is correct, but it does not apply to all ECN and I still count this as the dirty game, while it may be legal. What I despise though is when they DO NOT forward orders to ECN despite calling themselves as ECN Broker, and instead slowing and off quoting you.

Was mich nicht umbringt, macht mich stärker.
ForexMentor
Feb 07 2012 at 15:06
53 posts
Well compared to my manual trading broker, which is different to the one I use for EA's like MDP, these guys are super quick execution and in volitile market conditions, which is what MDP does it has to be expected, to me that is normal trading conditions, if you want to play with volitile markets then you will get slippage......but slippage isnt always negative, sometimes it can go in your favour on exits, so swings and roundabouts

Fred_Forex
Feb 07 2012 at 18:57
117 posts
+13 pips today and not even on an ECN-broker :-) nothing on the 2nd account.

Regarding business models of brokers see the filing of Gain Capital (forex.com) how they make money (page 90 ff.)
https://www.sec.gov/Archives/edgar/data/1444363/000095012309039802/w75376sv1.htm

So for market makers it is imperative to hedge their market exposure, first internally by netting all clients' positions, second by making opposing trades on the real markets for the net exposure. That's what takes them so much time opening a client's order, they simply have to hedge first and that's why some brokers are not suitable for MDP (because it takes them too long to hedge, market has moved in the meantime and brokers rejects clients' order ('requote')).
So you most probably won't succeed with MDP on a market maker-broker.
For MDP STP with DMA (Direct Market Access) would be best, I guess. But still you can't be sure whether the broker sends ALL the orders to the liquidity-provider. Usually they will build account-groups according to lot-size, profitability etc. and treat each group differently. And regarding ECN: most brokers who claim to be ECN are not! They are mostly STP.
In the end, to find a suitable broker for MDP you have to try out each broker and check execution-times, because low execution-times (around 500 ms is fine) make MDP succeed, in my opinion, no matter what methology the broker is using for executing your trades.
Cheers, Fred

mistificator (mistificator)
Feb 07 2012 at 19:03
453 posts
You can succeed with MDP on MM but not for long, as as greedy as they get they take the opposite side of your trade on their own call, they aren't obliged to hedge everything, they profile trades and their trades, since most scalpers lose money rather instantaneously they trade against you but as time passes they have profile re-evaluation and they either switch you to the market (and likely with bad execution if they have only as optional bridge) or start messing with your trades. Most chose the second.

Was mich nicht umbringt, macht mich stärker.
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