Trading style: scalping, very short trade duration, multiple concurrent positions possible; due to the low average number of pips per trade, the results for this EA will certainly vary greatly from one broker to another.
Currency pairs: EURUSD (USDJPY and GBPUSD versions exist as a separate purchases worth $99 each)
Timeframe: M1
Expert Advisor price: $99
NFA compliance: full (FIFO setting has to be enabled)
Refund policy: 30 days, no questions asked
Read more at the Million Dollar Pips website

Buy Million Dollar Pips

Note: this EA is extremely sensitive to the spread and execution of the broker and to the transmission delay between the VPS and the broker. Million Dollar Pips will NOT be profitable with most brokers and it is notoriously hard to find a good setup for it.

Birt’s forward test

EURUSD

Settings: all default, except: Risk 1.5, FIFO disabled; starting with 11.10.2011, Stop Orders, Hard Stop Trailing and AutoAdjust_ECN are set to false
Started: 07.08.2011
Broker: PrivateFx
Account type: live, micro
Starting balance: $300

[myfxbook_image user=birt system=million-dollar-pips-eurusd id=145575 desc=”Million Dollar Pips EURUSD live forward test”]

GBPUSD

Settings: all default, except: Risk 1.5, FIFO false, Stop Orders false, Hard Stop Trailing false and AutoAdjust_ECN false
Started: 24.10.2011
Broker: PrivateFx
Account type: live, micro
Starting balance: $300
Current version: 1.2.0

[myfxbook_image user=birt system=million-dollar-pips-gbpusd id=182318 desc=”Million Dollar Pips GBPUSD live forward test”]

USDJPY

Settings: all default, except: Risk 1.5, FIFO false, Stop Orders false, Hard Stop Trailing false and AutoAdjust_ECN false
Started: 24.10.2011
Broker: PrivateFx
Account type: live, micro
Starting balance: $300

[myfxbook_image user=birt system=million-dollar-pips-usdjpy id=182319 desc=”Million Dollar Pips USDJPY live forward test”]

Official forward test

Started: 05.05.2011
Broker: ThinkForex
Account type: demo
Starting balance: $1000

[myfxbook_image user=milliondpips system=million-dollar-pips id=114107 desc=”Million Dollar Pips official demo forward test”]

[myfxbook_note]

Backtests

After seeing the comment posted by Eli below I decided to run my own backtest. I used Dukascopy tick data with a fixed spread of 1.5 and reset all the EA settings to their default values. As you will see below, the result was insanely good (although with a significant drawdown, probably because I used the default risk), but I believe backtesting this particular EA is not realistic due to the very low pip targets. In all likelihood, it will behave very, very different from a broker to another and testing with Dukascopy data is totally irrelevant since you’re most likely not going to run it on a Dukascopy account.

Million Dollar Pips 1.6 2007-2011 tick data, spread 1.5, default settings

Million Dollar Pips 1.6 2007-2011 tick data, spread 1.5, default settings