Million Dollar Pips Advisor

Scalping tactics in the Forex market are one of the most attractive because they provide acceptable returns in a short period of time.

However, there is an even more profitable and radical approach - pipsing .

Unlike scalping, where it is very important for a trader to predict the possible price movement and take a short but goal of 15-20 points, during pips the trader’s potential profitability is 1-2 points, which means that the deal is held for seconds.

Naturally, if any person who has a strategy and reaction can engage in scalping in the market, then pip traders make their transactions purely with the help of an advisor.

By the way, pip traders are the main enemies of dishonest brokers who do not enter their transactions into the interbank market.

The Million Dollar Pips advisor is the most popular representative of tick pips that can be found in the public domain, although foreign colleagues are still trying to sell their development on various services.

Million Dollar Pips created a huge stir among traders at the time of its appearance and, unfortunately, was blocked by many dishonest dealing centers.

The advisor is designed for trading on the euro/dollar currency pair on a minute chart.

Installing the Million Dollar Pips advisor

The Expert Advisor was born long before the advent of the MT5 trading platform, so the Expert Advisor is intended for trading only in MT4, which means that it must be installed first.

To do this, after downloading the file with the advisor and its library at the end of the article, you must place these files in the expert and libraries folder. You can access these folders by opening the root directory, which is located in the file menu of the running MT4. After updating the installation files in the Navigator panel, the advisor should appear in the list of experts. To get started, drag the expert onto the minute chart of the euro/dollar currency pair :

 Advisor strategy.

Settings and account requirements The Million Dollar Pips Advisor is a pipser that only works with five-digit quotes and on ECN accounts .

I would like to warn you that the expert can simply open a series of orders and close it in a split second, so your broker must have market execution and close orders at lightning speed, otherwise you will not avoid losses. Before placing the robot on a real account, you should read the client agreement in detail and make sure that there is no limit in seconds on open orders.

So, after the appearance of Million Dollar Pips, many dealers introduced a time limit on open trades and canceled the profits of pip traders’ clients, so be sure to check this point.

If we talk about strategy, the advisor uses a clear and simple algorithm based on such standard indicators as Bollinger Bands, Force Index, Williams' Percent Range.

The essence is to trade from the border of the bolinger bands channel, and the signal is confirmed using other indicators. So, if the price has touched the lower border of the Bollinger Bands channel, and the Williams' Percent Range is in the oversold zone, while the Force Index has a negative value, the advisor will buy.

If the price has touched the upper border of the Bollinger Bands channel, and Williams' Percent Range is in the overbought zone, while the Force Index has a positive value, the advisor will sell.

An example of how an expert works with a tester is shown below:

 There are no parameters in the advisor settings that would be responsible for the entry point, however, Million Dollar Pips contains capital settings.

So in the TakeProfit and StopLoss line, the profit and stop order are set in points for five-digit quotes.

The Max Lot line specifies the maximum lot, and the Min Lot line specifies the minimum lot. These values ​​are very important if you have specified a certain risk in the Risk line depending on the deposit per trade.

By default, the advisor works with a static lot. Testing

According to the requirements of the developers, we conducted testing on the euro/dollar currency pair on a minute chart with the Alpari .

Since testing a pipser over a year takes a lot of time, we conducted testing for the first half of 2015. Test result with default settings:

 As you can see, the yield curve can catch even the world's biggest critic of advisors.

However, despite the yield curve, the profit turned out to be quite weak, so we decided to test not with a static lot, but set a 3 percent risk per trade by setting a dynamic lot. The result of testing on the same segment, but with new settings can be seen below:

 The graph shows how the advisor earned more than $2 million in six months.

Many people say that an expert looks into the future while testing in a tester, but this statement is not true. The fact is that the strategy tester does not know such concepts as requotes and the slow speed of opening and closing an order, which appears when trading with real money.

Therefore, we recommend testing the expert on a demo and looking for a broker that could satisfy all the requirements both for the operation of the expert and in terms of regulations and does not reset all earned profits.

Download Million Dollar Pips Advisor