Million Dollar Pips Diskusia

   cusber posted:
   

   fughe posted:
   

   Alec posted:
   Guys, have you seen this?

https://www.myfxbook.com/members/autofx101/real/227343

Pure luck. Wouldn't mind if that happened to me.

Pure luck hahah maybe his account is blessed too by the same as yours

That is always a possibility, but I don't see him giving any credit to God for doing it. So the chance of that being the case are remote.

   NewMillenniumInc posted:
   Well that was a NFP party that just about every MDP user was invited to - if you missed out then there's something seriously amiss with your setup - the EURUSD spike was about as it good as it gets - straight up, straight down with hardly a wiggle.

Even my MDP style entry custom bot nailed the short entry @ 1.32025 - just 2.5 pips from the high - for 21 pips on demo/23 pips on live for the singular trade. Not often do u get more than that on any one trade - though I noticed at some broker trades went for closer to 30 pips a piece.

Thank you Mr Morrison, brilliant concept, worth more than the price asked to be sure :)

I like the EA but try your invitation on a VPS with high latency.

As this EA has become more popular, more people are flooding the recommended brokers making it useless.


Well, I guess this is just part of the race. At least I saw it comming and I had reduced the risk to the bare minimum and I just got a scratch. This EA is great, but it requires that the execution and modification of trades be well under 1000 ms, anything over that and you are just burning your money.

The latency of any VPS that you can measure by a ping is misleading because it does not represent the true speed under the extreme conditions that MDP acts. I have a reported latency of 2 ms when I ping the server from the VPS but it is useless since the execution time is more than 1000 times over and rising.

Yeah, to just lay the truth out for everyone to know.....everyone except for me should just give up trying to make MDP work. The faster you give up, the better it will be for your account. 😲

so I have been looking around for a new broker to go with - preferably one that also pays high rebates. In my search and talks with refundfx I found out that you can get a rebate or you can get a spread discount. Currently Axi trader has a 0.3 pip spread discount, IBFX has a 0.5 and I was told that forex.com will be added soon with a 0.7 pip spread discount.... this seems crazy. I'd personally like the spread discount over the rebate as its like getting the rebate on every trade, and more importantly it means that forex.com who spreads are usually a bit wider are now super tight allow the EA to be affective with them... thoughts? I know people are going to PM me going blah blah that if I tell people a good setup then people will flood it and it will wreck it etc, but I don't care. Forex.com are massive and I'd rather share and work together....

Don't even bother with Axi, they are a great broker but terrible with MDP..

   kimleow posted:
   so I have been looking around for a new broker to go with - preferably one that also pays high rebates. In my search and talks with refundfx I found out that you can get a rebate or you can get a spread discount. Currently Axi trader has a 0.3 pip spread discount, IBFX has a 0.5 and I was told that forex.com will be added soon with a 0.7 pip spread discount.... this seems crazy. I'd personally like the spread discount over the rebate as its like getting the rebate on every trade, and more importantly it means that forex.com who spreads are usually a bit wider are now super tight allow the EA to be affective with them... thoughts? I know people are going to PM me going blah blah that if I tell people a good setup then people will flood it and it will wreck it etc, but I don't care. Forex.com are massive and I'd rather share and work together....

Eh, people only think that because they still believe their tiny little order actually moves the market.

Anyway....back to your question. In my opinion, I prefer the rebate to the spread discount. The reason is simple. With a spread discount, you may have more triggered orders, but that also means more losing positions. In the end, it evens out. With rebates, even on the orders you lose, you get paid. The rebate is guaranteed money. That is my personal take on it.

   fughe posted:
   

   kimleow posted:
   so I have been looking around for a new broker to go with - preferably one that also pays high rebates. In my search and talks with refundfx I found out that you can get a rebate or you can get a spread discount. Currently Axi trader has a 0.3 pip spread discount, IBFX has a 0.5 and I was told that forex.com will be added soon with a 0.7 pip spread discount.... this seems crazy. I'd personally like the spread discount over the rebate as its like getting the rebate on every trade, and more importantly it means that forex.com who spreads are usually a bit wider are now super tight allow the EA to be affective with them... thoughts? I know people are going to PM me going blah blah that if I tell people a good setup then people will flood it and it will wreck it etc, but I don't care. Forex.com are massive and I'd rather share and work together....

Eh, people only think that because they still believe their tiny little order actually moves the market.

Anyway....back to your question. In my opinion, I prefer the rebate to the spread discount. The reason is simple. With a spread discount, you may have more triggered orders, but that also means more losing positions. In the end, it evens out. With rebates, even on the orders you lose, you get paid. The rebate is guaranteed money. That is my personal take on it.

Well this is my take on rebates.

Ultimately the rebate is paid out of the spread.

Now - I'd prefer to win trades than loose trades because the spread was just a bit higher (to pay the rebate), and tripped a stop loss.

Spread rebates are so miniscule versus the size of a loser, especially with some slippage addeds, so its a false economy to 'get paid every trade, even losing trades'.....especially if you're loosing trades a lot. Do the math.

Just the slippage alone on a losing trade can be many, many times what rebate is paid (u can get slipped 5 pips or more on exit sometimes). Factor that into your equations folks........every fraction of a pip benefit with regards spead or slippage is can be the difference between a nice fat winner, and loser that cops extra slippage as well.

MDP, like my own system, works best with the lowest possible spread and slippage. A 0.5 of of a pip reduction in spread is a huge reduction (depending on what the net spread ends up!)............and a massive disadvantage to carry in live trading.

I'm probably not going to be popular but truth is, rebates are a con game 'perpetraded' (pun intended) by brokers - are you really surprised? Its logical to assume brokers that don't add fat to their spreads will likely perform better for MDP.

While that has merit, we are talking about operating with MDP. It loses more often than it wins. The bet is on the big winners outweighing the losers.

I don't see rebates as a con came.... if you are going to trade with a broker, why not get a rebate? The spread is not widened to get the rebate and every extra bit is an extra bit.... Some nights on MDP I have done almost 20 standard lots in a night. 20 standard lots * $7 per lot rebate is $140... why not get the extra $140. Anyways I do not want to get off topic here and go on about rebates, this is a MDP thread. The reason I mention it, is because by getting a spread discount (not the rebate) brokers like Forex.com FXCM etc whose spreads are usually too high for such a system now become viable. These larger brokers might be more suitable for this system as they can handle the volume easier... well thats my theory anyways. I've deposited a few K into my FXCM account to trade with MDP and will update on my progress.

   fughe posted:
   Looks like the sexiness rules the day again! 😁

I should also add in addition to the spread discounts, I've also started going to the gym to see if some extra sexy improves my results. ;)

Super Low spread is key to MDP, wihtout it your robot wont even trade, if your broker has plugins then another reason it will lose a lot. And your latency with the server must be fast or it cant modify entries which is also key, so the robot itself I think is fine, its other outside elements that can make it bad for some.

Losing more than winning isnt relevant in the case of MDP, from my experience if the R:R is good with sound Money Management, which MDP has both of, then you can lose quite often and still remain profitable, same with manual trading. Most fail because they fail to grasp how trading works and because there not winning non stop cant deal with it.

Trading isnt about how many trades you win, its all about Money management, its a numbers game.

   kimleow posted:
   

   fughe posted:
   Looks like the sexiness rules the day again! 😁

I should also add in addition to the spread discounts, I've also started going to the gym to see if some extra sexy improves my results. ;)

It is guaranteed to improve your trading results!

   ForexMentor posted:
   Super Low spread is key to MDP, wihtout it your robot wont even trade, if your broker has plugins then another reason it will lose a lot. And your latency with the server must be fast or it cant modify entries which is also key, so the robot itself I think is fine, its other outside elements that can make it bad for some.

Losing more than winning isnt relevant in the case of MDP, from my experience if the R:R is good with sound Money Management, which MDP has both of, then you can lose quite often and still remain profitable, same with manual trading. Most fail because they fail to grasp how trading works and because there not winning non stop cant deal with it.

Trading isnt about how many trades you win, its all about Money management, its a numbers game.

I would not agree.
Low comission + very low slipapge is the key and most important thing.
Spread is not that important, just keep spread+comission under 20 points for 80% of time and You will be ok.
I had a broker with very low spread starting from 0 and so what if they charged 10$ and the slippage lately could be between 50-70 points which equals to 5-7 pips.

I agree about slippage. slippage is what is killing it for me. I have had nights that have lost, but if there was no slippage would have one... thats also why systems are so awesome in demo and are terrible in live.

And if you put together high latency and slippage then you just do not stand a chance.

You would be better off putting your money on a pile, selling tickets for all to watch and then burning it.

Ok Misty I take that as a YES to my question (although somewhat harsh - but that's fair) I would like to apologise to ANYBODY I've upset on here by posting links about my EA and this will discontinue as of now... It was not my intention to spam, just to share a creation that I'm EXTREMELY passionate about... again Im sorry to ANYBODY who has been inconvenienced by this...

Crashev.... Kid, I think not... just proud of what Ive created... oh and I have SEVERAL partnerships, a panel of BETA testers that paid for the EA that are delighted with the results... Crashev.. I wont bite as clearly I am at fault.. I had no idea id upset people by mentioning my own ea, clearly i was wrong... but all i can say in response to your message... 'well see' .

Sorry again guys, I'll refrain from posting in the future...

Ben

It appears like I missed some action here!

1) Ben - you are wrong to be spamming here.
2) I disagree with Crashnev but that's because I am using a BETA version and am happy... it does live up tot he claims overall
3) Again - Ben you should NOT be spamming, especially on somebody else's page... you will ruin it for yourself in the long run - reputation is everything if you plan on joining the big boys with this. leave things be and let the results do the talking when the live account has some consistent profits....

On the subject of MDP - I'm impressed so far .... NFP day made up for the slow start for me... but so far so good ! Very Happy :)

I'm using default settings

Fair point, again, Im sorry I didnt mean to cause any offence or P*** people off.
Ben

   BenjaminNathan posted:
   Fair point, again, Im sorry I didnt mean to cause any offence or P*** people off.
Ben

Dont worry about it, we all gotta make a living......... cant see the problem....all your doing is saying you have a cool EA, a lot of stressed out people on here.........