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Fellow traders, please read what Birts EA review has to say about brokers and MDP.... before jumping on the (burning) bandwagon😉

   pc8multifx posted:
   Fellow traders, please read what Birts EA review has to say about brokers and MDP.... before jumping on the (burning) bandwagon😉

I read Birt's EA review and according to his review, his biggest gains are from MDPIPS and in real account testing, please see below.

https://eareview.net/expert-advisor-top-compare-live-forward-performance

https://www.myfxbook.com/members/birt/million-dollar-pips/145575

Although, you are right that MDPIPS does have mixed reviews and so far my MDPIPS has not executed a single live trade, but then again it's been one day so far since I took MDPIPS to the live account mode.

  
I read Birt's EA review and according to his review, his biggest gains are from MDPIPS and in real account testing, please see below.

https://eareview.net/expert-advisor-top-compare-live-forward-performance

https://www.myfxbook.com/members/birt/million-dollar-pips/145575

Although, you are right that MDPIPS does have mixed reviews and so far my MDPIPS has not executed a single live trade, but then again it's been one day so far since I took MDPIPS to the live account mode.

There is one HUGE important detail that you missed in reference to Birt trading MDP profitably. It is his broker. If you read enough on his forum, you will find out that Birt has went in with a friend and they have their own private brokerage. So....unless you have the money to setup your own private brokerage, you are pretty well screwed.

If birt is running a brokerage that doesn't accept clients in any means, there is absolutely no reason to operate this brokerage more so than having the ability to spoof trading results. Why?

1.) A market maker will keep the trades in house and never send them to a liquidity provider, which means they are not winning or losing by running any of their test accounts. Their results are basically a DEMO environment, hence his MDP account.

 A MM earns money by the 90% of failing traders and at the end of the month the amount of losses(traders losing their capital) normally out ways the profitable traders and MM can continue to operate . Since PrivateFX is solely Private, meaning no outside clients, they can not Make money period. Therefore, we move to number 2.

2.) A ECN STP brokerage , would be earning solely from commission. Their commission bonus ( Only source of revenue ) would be dependent on two traders activities as PrivateFX is a Partnership. However, this wouldn't be logically as you would be paying yourself out of your own pocket. Sure, there could be tax incentives for this operation and an endless amount of loopholes including annual losses(write-offs) which can benefit this company. But that's another story.

 Now in Birts article he states, '''Sure, it’s possible that someone with an awesome speed and liquidity access implemented the MDP strategy on a different platform and is hogging all the liquidity at the EA entry points,''

Which in fact can be true and maybe Birt is to blame for the ECN slippage . 😈 But that's still not logical as he is running a brokerage and once again, the profits that any of his accounts make are coming from his own pocket.

 So whats the point of running a brokerage with no clients?

At this moment, it can be to establish better liquidity connections. What I mean by this, is that If a brokerage can produce high levels of volume, they would be able to land more deals with Top banks adding more liquidity to their source. Also, I'm sure some of you traders out there, know that you can negotiate spreads when high levels of volume are maintained. So is Privatefx negotiating better spreads with their liquidity providers ? Are they heading down the same road as collectivefx? Or is it what I mentioned in the first sentence of this post.

I really started to laugh when Birt said this. ' At this point, it might be that you’re better off trading MDP on an honest MM broker than on an ECN''

https://eareview.net/rant/brokerage-interlude

Maybe Birt's account is a demo account because trading record is not verified. He mentioned that there's commission of $0.50 per 10k round lot in his article, but I don't see any commissions on his account.

   Britt posted:
   Maybe Birt's account is a demo account because trading record is not verified. He mentioned that there's commission of $0.50 per 10k round lot in his article, but I don't see any commissions on his account.

Lol

Can someone explain it to me why im getting this error logs on MDP: MillionDollarPipsGBPUSD_1.2.0 GBPUSD,M1: WARNING M1 Graph gap found 2011.09.25 22:16 offset:3

   milliondpips posted:
   I will be releasing a live account result soon.

Have you released your real account yet with the MDPIPS latest version? I have bought your EA and have put my real account here to share with people. It includes all the settings you have recommended and also the VPS and the brokerage you recommended (FOREX VPS, HOT FOREX) It would be really helpful if you do the same, after all this is your product!

So far, the EA has not made any trade but then again, I went on the live account this friday (09/23), so will wait and see what happens this week.....

   csa1234 posted:
   Can someone explain it to me why im getting this error logs on MDP: MillionDollarPipsGBPUSD_1.2.0 GBPUSD,M1: WARNING M1 Graph gap found 2011.09.25 22:16 offset:3

I am getting a similar message '2011.09.25 17:44:06 MillionDollarPipsEURUSD_1.2.0 EURUSD,M1: WARNING M5 Graph gap found 2011.09.26 00:44 offset:9', Not sure what to do about it??....Would appreciate if the experts here can advice :)

agree!

   FOREX_MAKEMONEY posted:
   

   milliondpips posted:
   I will be releasing a live account result soon.

Have you released your real account yet with the MDPIPS latest version? I have bought your EA and have put my real account here to share with people. It includes all the settings you have recommended and also the VPS and the brokerage you recommended (FOREX VPS, HOT FOREX) It would be really helpful if you do the same, after all this is your product!

So far, the EA has not made any trade but then again, I went on the live account this friday (09/23), so will wait and see what happens this week.....

   csa1234 posted:
   Can someone explain it to me why im getting this error logs on MDP: MillionDollarPipsGBPUSD_1.2.0 GBPUSD,M1: WARNING M1 Graph gap found 2011.09.25 22:16 offset:3

I am guessing here, so don't rely on this info too heavily. I believe the error message is referring to a gap in you price feed, similar to what happens at the beginning of the week. The latest version of MDP will not trade during these times.

Aloha to all. No major high impact trading new this coming week. Good luck to everyone this week.

   Professor53 posted:
   Aloha to all. No major high impact trading new this coming week. Good luck to everyone this week.

What are you talking about??

 There are truckloads of high impact news the coming week

I have get the same message on EURUSD. I guess should open 5M chart and refresh it. there is problem at the history of 5M and bars are missing.

please let me know if this helps

walker

   FOREX_MAKEMONEY posted:
   

   csa1234 posted:
   Can someone explain it to me why im getting this error logs on MDP: MillionDollarPipsGBPUSD_1.2.0 GBPUSD,M1: WARNING M1 Graph gap found 2011.09.25 22:16 offset:3

I am getting a similar message '2011.09.25 17:44:06 MillionDollarPipsEURUSD_1.2.0 EURUSD,M1: WARNING M5 Graph gap found 2011.09.26 00:44 offset:9', Not sure what to do about it??....Would appreciate if the experts here can advice :)

Yes, there more news out there, hes right.

   walker36 posted:
   I have get the same message on EURUSD. I guess should open 5M chart and refresh it. there is problem at the history of 5M and bars are missing.

please let me know if this helps

walker

Hi Walker,
Yes, the M5 problem went away and the MDP robot actually made money for the first time last night around 2 AM EST! My real account is posted here for people to see how the MDP is tracking

https://www.myfxbook.com/members/FOREX_MAKEMONEY/forex-makemoney-mdpips/168130


Now, I am getting a message on the screen 'Open Slip too high', Does anyone know what this means and how to fix it?


Regards,
Nick

for slippage issue you have nothing to do. either MDP will keep tarding until it will find out that trades are not profitable due to slippage or you should find another broker

good luck
walker

   FOREX_MAKEMONEY posted:
   

   walker36 posted:
   I have get the same message on EURUSD. I guess should open 5M chart and refresh it. there is problem at the history of 5M and bars are missing.

please let me know if this helps

walker

Hi Walker,
Yes, the M5 problem went away and the MDP robot actually made money for the first time last night around 2 AM EST! My real account is posted here for people to see how the MDP is tracking

https://www.myfxbook.com/members/FOREX_MAKEMONEY/forex-makemoney-mdpips/168130


Now, I am getting a message on the screen 'Open Slip too high', Does anyone know what this means and how to fix it?


Regards,
Nick

The slippage is an MDP killer. You can have an awesome broker that has a strict non-interference policy that they stick to, and due to there being no available liquidity, you can get slipped really bad. There is nothing that can be done about it except move to a broker that has a huge client base.

   fughe posted:
   The slippage is an MDP killer. You can have an awesome broker that has a strict non-interference policy that they stick to, and due to there being no available liquidity, you can get slipped really bad. There is nothing that can be done about it except move to a broker that has a huge client base.

   walker36 posted:
   for slippage issue you have nothing to do. either MDP will keep tarding until it will find out that trades are not profitable due to slippage or you should find another broker

good luck
walker

Thanks a lot Walker & Fughe. Atleast, now I know there is nothing I can do about slippage. Do you have any broker recommendations? The only 2 I have tried are FXDD where the MDPIPS did not work effectively even in the demo account as the spread was too high and now I am on HOT FOREX where apparently there are slippage issues...