Million Dollar Pips diskuse

Hi anyone knows anything about this?
-> 2012.03.16 04:00:09 MillionDollarPipsEURUSD_1.2.0 EURUSD-,M1: WARNING offset overflow:5135 period:1

I am just getting back to my PC. I am rather speechless on the size of the loss in my IBFX account of almost 21 %, compared to the other accounts of around 2-8 %. I have to investigate this. But nevertheless, that's how MDP is trading. It just wasn't the right spike today for MDP.

-Offset overflow-warning: This seems to be happening if the respective chart is missing some bars. MDP will trade again after some time. Just wait.
Fred

Maybe the losses at IBFX were bigger due to the high slippage? Otherwise I see no error, every single trades loss was below the maximal risk.
The only thing I don't really understand is why MDP opened so many trades. I have additional channels but in the past it opened like 3-4 trades in a row and not nearly 20 (!).

I changed 'use_stop_orders' and 'hard_stop_trailing' to 'false' because of the high slippage, I hope that will help in the future.

What does the slippage have to do with MDP's way of opening orders??? This problem is on the broker side so that's where you need to make some changes. YOU will get slipped entries and exits again regardless the false mode of hards and opens.

I came to the conclusion to stay with the 'hard_stop_trailing' and 'use_stop_orders' = true, Fred_Forex pointed out, that the losses may have been even bigger without it, because it needs some time for Metatrader to send the commands whereas with stop-orders they are already placed beforehand.

I'm always open a for a hint regarding a new broker for MDP as most of them are saturated with MDP-Traders and are too slow now or cheat on them.

   CBuilder posted:

big loss here too, fortunately i am still getting better understanding of the EA before i go live.

btw, any body has some idea of the logic behind MDP?

You can call it a mean-reversal scalper. It uses Bollinger Bands-Indicator to determine when price has escaped 'more than normal' from the medium line and goes even outside the upper or lower band (2 standard deviations). Just put the Bollinger Band-Indicator on the 1M-chart and compare to MDP trade-entries. But there seems to be additional factors such as a higher number of ticks, indicating a volatility-break-out, which will often reverse before going again in the direction of the breakout.
Fred

thanks for the explanation Fred

   tradinfool posted:
   For all those who had large drawdowns go through this thread and look at posts by myself and people like professor 53 etc.

We all have talked about using low leverage, low max sim orders and modest risk etc, etc.

Those that are using 400:1 and max sim 8 along with high risk settings are doomed to failure. Both my accounts had drawdowns today but they are minor due to conservative settings.

If you took a big hit today, don't give up. You will probably made it back.

Dan

I put a limit of 2 simultanous orders and I saw it still opened 4 positions ... should I have group_orders=true ?

I think MDP did not open 4 at the same time.
but they are opened so closely that you think its 4 while its only 2...
I'm using 2 in my account and MDP did not open more than 2 at the same time. but I can have 4 or 5 trades opened and closed in 2 minutes...

   willgart posted:
   I think MDP did not open 4 at the same time.
but they are opened so closely that you think its 4 while its only 2...
I'm using 2 in my account and MDP did not open more than 2 at the same time. but I can have 4 or 5 trades opened and closed in 2 minutes...

well it did I watched it ... got scared and started closing it manually and the damn EA was opening MORE (up to 4) pending orders right close to the market that were executed immediately ... I had to turn off the EA button finally ...

try to not interfere with the EA.
its always a bad idea to play on top of any EA.
if you see the EA playing for the first time, you can be suprised by the way the trades are opened, but its the MDP strategy, MDP go in the reverse direction, not in the same direction has the spike.
but this can works as the signal can suffer a big opposite spike.

and when you disable the EA you certainly lost the winning trades. most of the time the latest ones are the winners.
MDP didn't open pending orders. so I found it strange that you have pending orders + 4 while you set it to 2.
which broker are you using? and is it an ECN account?

I analyzed the losses in my IBFX-account of Friday: I have come to the conclusion that the high loss was a mixture of rather high slippage (but not more than on my 2nd account), rather high risk-settings and the fact, that the last three trades didn't go as far into positive territory as on (my) other accounts.

- But some user pointed out to me, that they had high order-handling times on Friday. I had normal times (350 modification, 550 opening/executing), but who else had the problem, especially with IBFX? Please mention, your trade server (I am on IS02) and whether it is a standard or mini-account (mine is a standard). I suspect that trade-results differ with trade-server.
Thanks a lot for your help.
Fred

I am on the same server at IBFX. I wonder why MDP did not close trades while they were successful, I watched it and saw that some of the last trades would have been profitable if MDP had closed them earlier.

My order handling times were also normal (average ~444 ms).

this is just the nature of the EA . . ive been using it for 6 moths now .. . over that period thee have been 4 - 5 spikes that have eaten 10-15% of the account . . . but i'm still well and truly ahead !

   milliondpips posted:
   We will be showing one in the near future.

I have a friend with a live account and it is yet to show a profit and is still down since july last year
I can say it is growing back after losing nearly 40% of the account and is now less than 5% under opening balance ,Friend claims the loss in first month or so was due to high risk settings, now on the safer settings it is seemingly working ok if you wish to view this account ask me for details via skype

I have mentioned it many times.. please dont rush your trades. Default settings are safer that increasing the risk.
Garry

Default setting risk is 2%. Many ppl even lower to 1.5% too.

Where do you guys see the the next chance for MDP to trade?

Hi. I am looking to purchase an EA but there are so many to choose from and so many conflicting views. I see that some people are making profit with Million Dollar Pips and others are not, dependent on their broker. Is anyone who is making a profit with it using FinFX, which has its broker server very close to the VPS server which I understand is critical for this EA. Does MDP work with their standard account or do you need to get their ECN account?

Does anyone successfully use Forex Megadroid, Shark Version 6 or Forex EA Super? Have found lots of good reviews about Megadroid but nothing very recent and can't find hardly anything about the last two. Would appreciate your comments as I am proposing getting one slower EA for higher timeframe longer term trades (Megadroid) and one faster scalper on a lower timeframe, ie either the MDP, Shark 6 or Forex EA Super.

Forex EA Super is an arbitrage robot but I believe it is allowed by FinFX, but please correct me if I am wrong and any of you have tried in on that broker already.

Any constructive comments welcomed.

Thanks

Rainster