Million Dollar Pips Review
About Million Dollar Pips
A worrisome feature about this product is that its prime promotional material is one of those long drawling sales letter proclaiming that you will be a millionaire within a year. The investor of the Million Dollar Pips goes to great length explaining how you can simply earn such a massive sum by investing just a minimal deposit and practically doing nothing.
Little serious technical information is provided about this expert advisor as the letter primarily focuses on tugging at your emotions. Facts that are provided promote this tool as an automated robot capable of trading the currency markets by utilizing a unique and safe scalping strategy.
In addition, the device contains an effective money management policy which will allegedly provide excellent protection for your equity although no real information is forthcoming. The Million Dollar Pips does not contain any concepts based on Martingale or Grid strategies. Instead, this tool is NFA compliant by involving no hedging but adhering to the principles of FIFO (First In, First Out).
The sales letter initially concentrates on advising you about what you should not do when trading Forex. For example, stop learning complex trading strategies; stop missing good entry opportunities; stop working long hours; stop controlling fear and greed and stop chasing quick-fixes, etc. The list ramblings on but I am sure you get the message.
As an alternative to these approaches, the designer of the Million Dollar Pips advises that you must understand that the simplest solutions in life are always the best. Yes, you have got it as this expert advisor is constructed on such a concept. He then turns his attention to you by applauding your suspicions about the promotions of any Forex tools or systems claiming that they can acquire you easily earned riches. In fact, he admires people who are skeptical.
The promoter then proceeds to explain that the key reason why so many investors fail at Forex trading is that they focus on the intricacies of this subject instead of the simpler approaches. Seemingly, you need to work smart and not hard. In addition, he stresses that as the obvious answers in life are always the best then why should this not be so for Forex. He next postulates that there is a major conspiracy afoot which has been concocted by large investment bodies with the primary intent of keeping you in the dark so that they can seduce you in spending copious amount of money with them.
To prevent you from being constantly duped by these individuals and organizations, he has developed his expert advisor with the central intent of rescuing you. He explains that the primary motives for providing such a service is that he wants you to succeed just like him. Apparently, he is just an ordinary Joe who decided not to manually master the concepts of Forex, but to devise an automatic tool capable of earning him riches while he rests with his feet up.
The end-product of this approach is the Million Dollar Pips which provides numerous attractive benefits, such as the following:
– This expert advisor is a 100% automated money making machine implying that you can just install it and then forget it.
– You will no longer need to understand complexities, such as technical indicators, fundamental events and involved strategies, etc.
– Produces high quality reporting
– Minimizes your risk exposure per position
– Identifies only optimum entry opportunities exhibiting the potential for maximum profits
– Trades 24 hours a day during the entire trading week.
– You keep all the profits produced.
– Enables you to work less but acquire larger profits than manual trading.
Performance Tests
So, is the Million Dollar Pips the Holy Grail that can answer all your dreams by creating new income streams while you spend your days relaxing with your feet up? Do the outlandish claims contained within the sales letter really hold any water?
Results from a series of tests are now presented in the subsequent figure in order to help answer these questions. Specifically, average values are contained within the right column.
Key Parameters
The information presented in the table above now needs to be used in order to assess whether the Million Dollar Pips can make you a reliable income over an extended period of time. This objective is accomplished by determining the key performance parameters of this device based on their average values, as follows:
1. Win-to-loss ratio = 39%
2. Reward-to-Risk ratio = 2
3. Expectancy Value = $0.17
These results suggest that the Million Dollar Pips will produce a return of just $0.17 for every greenback risked over the long haul.
User Comments
The next step in the process of evaluating the performance of this expert advisor was to implement an internet search for any user comments that could shed extra light on this subject.
A number of complaints were discovered which were not very complimentary about this device. In fairness, a few positive remarks were unearthed but they were easily outweighed by the number and intensity of the negative ones.
Cost
The current retail price of the Million Dollar Pips is presently $99.
Verdict
As this review strongly indicates, you need to adopt extreme caution if you are contemplating purchasing this product. The promotional material presented does not focus on any real technical facts that can be readily verified. In contrast, the long rambling sales letter on offer is a prime example of an advertising approach exploited often in the past in order to promote products that were eventually confirmed as scams.
Although an impressive reward-to-risk ratio is generated by the above test results, it is backed by a very weak win-to-loss ratio. Consequently, as the resultant expectancy value is very low, it exhibits just minimum protection against adverse events.
However, if you still think that this tool renders further attention, then you should seriously consider our optimum route forward which involves easily comparing the performances of other expert advisors with that of the Million Dollar Pips.
