This article is obsolete and no longer maintained.
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
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
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
Official forward test
Started: 05.05.2011
Broker: ThinkForex
Account type: demo
Starting balance: $1000
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.
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