Million Dollar Pips is undeniably one of the most popular EAs of all time. It is in the popular ranks of Forex Growth Bot, and FAPTurbo – which are still being purchased by hundreds of traders per day, even till this very day. Each of these EAs have their own strengths – they each fulfill a different branch of trading. Million Dollar Pips is a Tick Scalper, and also the FIRST successful tick scalping EA. However, it has not always been rosy in performance. In 2012, MDP started drawing alot of doubt over its ability to continue trading profitability due to many a losing month. To give a good answer to people’s doubt as well as my own, I decided to do a 1 year backtest of MDP V1.2 EA. Here it is…
Million Dollar Pips Picture
For more information about Forex Growth Bot and FAPTurbo, you can visit my Forex Blog Reviews for each of them as follows-
Meanwhile, back to the Million Dollar Pips Review and Backtest…

Million Dollar Pips EA Settings

For this backtest, I used default MDP V1.2 settings – this means:
  • Additional channels =1
  • Simultaneous Orders =8
  • FIFO=FALSE
  • Risk = 2%
The only setting I changed is the Slippage, which I changed from 0.5 pip to 1.5pip to enable more trades and cope with MDP broker latency and order execution issues..

Did Million Dollar Pips V1.2 EA Backtest Yield 1300% Profit?

And then here is Part 2…
Million Dollar Pips Info

Considerations and MDP V1.2 EA Backtest Settings and Forex Thor II?

Keep in mind that while this Million Dollar Pips Review is a very rosy-looking backtest, with thehigh quality tick data from Dukascopy and data feed from Integral, this should only be interpreted to mean that the EA works, and not that you WILL get 1300% return on investment. Forex Thor II - The Ultimate Forex Trading System
A comparable tick-scalper will be Forex Thor II. However, my personal opinion is that Forex Thor is could be better due to its ability to trade L2 trading signals – i.e. what is implied by market data due to historical probability, as opposed to traditional technical study.
You can read more about Forex Thor at: http://www.forexpipmaker.com/forexthor
Good trading,
Julian Wong
Forexpipmaker.com