Million Dollar Pips Robot

Million Dollar Pips Robot by William Morrison is getting good reviews. Million Dollar Pips is basically a scalper robot that makes fast scalping trades on the 1 minute charts with a tight 5 pips stop loss on average . So, unlike other scalper robots that use a wide stop loss and in case of a single loss can cause a large drawdown, this Million Dollars Pips Robot is low risk as it mostly scalps with a stop loss between 2-7 pips. We have been getting a number of good reviews by different traders on this robot. Now 1 Minute Charts are ofcourse very fast paced. So, this robot will be making a lot of high speed trades. The back test results that William Morrison has posted on his robot are interesting. Back test results show that it could have converted a deposit of $250 into 1,295,161.50 in 12 months! This is more than a million dollars in less than a year. So, this robot sounds interesting!

Million Dollar Pips Demo Trading

One such person is Cynthia Macy, the developer of the very good Easy Forex Breakout Trend Trading System. This is what Cynthia Macy says: “I’ve been trading this one on all of my live accounts and for sure it’s trading the best at FinFX and ThinkForex, both ECN brokers that allow scalping and high speed robots, which this one is.  I’m live trading it also on FXDD and FXPRO and Tadawul, but the re-quotes and slippage on the dealing desks spoil the high speed action and not many trades are executed…so this one definitely needs to go on an ECN acct.

It trades multiple times on a quick sharp price spike with lots of momentum…you can adjust how many trades you want at the same time….with a very strong move, the pips can really add up. Here’s my FinFX demo acct that I opened with $1,000 on June 13: I have it live trading on my husband’s ThinkForex account and it’s trading really good there too, and with no commissions, it’s actually doing better.”

Live Trading Million Dollar Pips EA On A Micro Account

Now, there is one problem. This has also been pointed out above. There are differences in how the demo account and the live account behave. You might get an instant fill on the demo account as no offset trade is required. But on a live account, the broker has to act as a market maker and take an offsetting position to your trade. This means you might not get instant fills and there will be re-quotes and slippage. So, the performance on the demo account does not guarantee a good performance on a live account. You need to keep this real difference between the two accounts in mind when trading forex!

We have not tested this Million Dollar Pips Robot but seeing it’s demo trading performance as reported by Cynthia, we believe this robot meets the requirements for a live trading test on a micro account with a deposit of $250. We will be posting our live trading results on the Million Dollar Pips EA soon. Please feel free to leave your comments on the Million Dollar Pips Robot!