million dollar pips ea must have the very best trading conditions to succeed
Million Dollar Pips EA must be run on the lowest spread broker possible along with fast latency VPS service. This means that the VPS service and broker should be located as close as possible. If spreads are too high and latency speed is a problem the software will issue warning messages to this effect but may still try and place some trades.
Tested on real money account through Finfx.fi (non-ecn account) from 15th to 20th September 2011. Produced 28 trades of which 3 were profitable and 25 were losers. Loss of $85.01 on the $488 account. The software program reported that there was a problem with the speed of trade execution (latency) between broker and vps provider. The recorded speed was 142ms. This was a problem on my side of things because my vps host is located in America and broker in Finland. For best VPS and broker speed it is best to have both as close as possible.
Million Dollar Pips EA is programed with a 5 pips stop loss. There were several losses of 12,13,15 and 16 pips which should not have occurred. This means that the problem was due to either too high spreads on my Finfx account or the speed of execution or a combination of both. With hide sight I would not try to run a short term scalper EA on a NON-ECN account with normal spreads. The stop losses are too close and just will not work.
This EA is now being tested through Thinkforex.com broker.
Looking at a different selection of review sites around the world it looks like this EA is very successful on the right combination of low spread broker and fast VPS connection.
Demo account ran from 10 August to 14 Sept 2011. In 36 days made 307 trades resulting in initial deposit of $250 growing to $507.01.
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