 | COURT |  | Cases |  | Open - 0 | Not Guilty - 0 | Guilty - 0 | |  | REVIEWS |  |
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Simon Paul, London, United Kingdom
| Rating: |   |
| Date of Post: | 2013-01-18 |
| Review: | I have been using this for a month and I don't know how anyone can make money with this system. I am using a boker with a low spread and still get no where.
It is very dissapointing as the system claims so much |
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Anthony Ingrassia, CTA NFA ID#: 0278164, New York, USA
| Rating: | |
| Date of Post: | 2012-11-11 |
| Review: | I am today posting an update to my earlier review of MDP with my 10 month test results attached. Please go to the MDP discussion board for full details.
2012-05-31 4Star I am Anthony Ingrassia, an NFA registered CTA, ID#: 0278164 trading independently from New York, USA. I have been testing MDP since early January 2012, as part of my investigation and preparation for a unique CTA Money Management Offering to be released later this year. I have tested more than 112 EAs, Semi-automated Trading Systems, and Signals Services over two years in an effort to find 3 outside developers whose product would be worthy of inclusion in this fund that will also contain 3 proprietery EAs of our own design. These outside models are desired to help with diversification and function in ways that are poorly correlated with the other models.
I ran a demo test for 4 months on FinFx, a quality ECN/STP broker in Finland. Last month I notified Mr. Morrison that I was promoting his model to a Real Money test on ATCBrokers, a similar ECN/STP broker in California. I have compared the two tests against each other and against the published results here on FPA.
Initially, I was very skeptical that this model would succeed because of the wildly disparate reports of irratic performance I read here on FPA. During these tests, I took no special precautions beyond what any responsible end user would have access to. Namely, the 2 tests are run on standard PCs, the Demo running Win7 and the Real Money running on an older, slower PC, running WinXP SP3. Both are on the same standard LAN, coupled to the internet through a solid cable provider with speedtest of 25/5 average, and with a solid battery backup to prevent sponaneous interruptions.
After 5 months of testing I can report that I have had a better than 90% correlation between the results achieved Real and Demo accounts at seperate brokers half-way around the world, and also against the FPA published results.
I have no way to explain the deviations others have seen and reported here, except that I have observed that many retail users try to run High-Speed scalpers through non-ECN/STP brokers, who often trade against them.
My hat is off to William for being the first of only 2 models out of the entire test group, which I have been able to tentatively qualify for inclusion in our new fund. Your model is uniquely uncorrelated to our other methods and I trust if such performance continues, I will be honored to provide you with a full endorsement publically, once I have installed your model in our fund and publish our endorsement in an approved NFA Disclosure Document.
I want to thank William for working with me in our effort to properly run these tests, which were run with the default settings, only.
At this point I can confirm that the results I have achieved in both Real and Demo testing largely agree with the publish FPA test results seen here.
Documentation available upon request, via private email through FPA. |
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Eric, Atlanta, USA
| Rating: | |
| Date of Post: | 2012-09-03 |
| Review: | I gave it a month to prove me wrong. The end results I was right. I showed Mr. William my statement with MDP comments at the end and showed his results compared the two. His account made more money in 1 day than I made in 1 month. I asked for refund, he replies with questions, I answered and replies once more that I need to change to a broker he recommended that doesn't except USA Clients.
Let me just say it will work as he says it does but forget making any profit. It's lame you have to fight for a refund when his website states no questions asked refund......... |
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STG, San Diego, USA
| Rating: | |
| Date of Post: | 2012-08-19 |
| Review: | Review of PhantomFX:
I bought PhantomFX on 06/10/2012. Its initial cost is $147 and there is a monthly re-billing of $37. This is another William Morrison product that trades only EURUSD. It is hyped more on his sales page than his one-time price BOTs that also trade this currency pair, plus two others (sold separately). I originally bought the lower-priced BOTS, and when they did not work (literally, no trades for weeks), Mr. Morrison sent me an up-sell email, which I agreed to try.
Installation was easy, but the BOT did not trade. I had selected a broker that does not allow hedging (MBTrading in the USA). I missed that, so nothing happened for awhile. Mr. Morrision recommened FinFX, a Finnish broker that does allow hedging. FinFX appears to be a good, regulated broker, despite creating obstacle after obstacle in setting up accounts. It took me a couple of weeks to jump through all their hoops.
The manual states to not change settings, except CustomLotSize, and to set the pip size to .1 or .2. I did. I started with $1000, as I am familiar with EA’s and have traded with Fapturbo for two years (a reasonably good BOT). On automatic trading, in two-and-one-half weeks, PhantomFX reduced my account from $1000 to $273, a decrease of over seventy percent. It then stopped trading.
Mr. Morrison visited my computer several times via TeamViewer and tweaked the settings, adding one or two that apparently did not install themselves originally. He commented that my balance was too low (after the losses) and that I had set the number of lots too high, even though they were set according to the manual. I sent FinFX another $500, per Mr. Morrison’s recommendation, so the BOT could trade without running out of money. The BOT took about one day to reduce my account by another $181. I uninstalled it and emailed Mr. Morrison to stop monthly withdrawals and to cancel my account.
You know how tornados suck the air out of a weather cell and cause buildings to collapse? This is exactly what PhantomFX did to my account. The balance in my account went down faster than an anvil in free fall over a cliff. I have never had such a disaster with any account, BOT on board or not.
Mr. Morrison was quick to deny any responsibility, claiming I had set the lots too high, despite following the manual, precisely. The manual states that minimum lots can be set in the configuration, which it can, but FinFX trades at a minimum of .10 if you don’t set up a micro account, so my settings of .01 lots in PhantomFX, were useless. Neither the manual nor Mr. Morrison acknowledged this, even though Mr. Morrison specifically recommended FinFX and said nothing about account type relative to PhantomFX’s settings or minimum balances.
The reasons this BOT is awful are twofold. One, the stops, which Mr. Morrison recommend not be used, are MILES away from the trade entry points. If the trade goes against you, money disappears, quickly, even with small lot trades. In the demo account trade on this site, the stops were set very tight, which would have been a good idea in the live account. Two, this BOT trades micro patterns, and apparently ignores trends. The reason it lost money in my account was that it executed many simultaneous trades to buy in a sharply falling market. The second loss occurred when It executed many simultaneous trades to sell in a sharply rising market. With no stops in place, disaster ensued. After losing the $181, I manually closed all the trades to stop further losses. I became the stops...
Mr. Morrison claimed to have data to support his claims that PhantomFX would make huge amounts of money, all on automatic. Had I stayed with this BOT, my automatic experience with PhantomFX would have cost me hundreds of thousands of dollars. Fortunately, I have enough experience with BOTS and finances to play a bit. For those who don’t, install OTHER BOTS, not this turkey of a BOT on a Demo account, even though your results will be different than in real trading, which is what I was looking at.
I don’t recommend buying this product. Mr. Morrison was nice enough and did respond to my many emails in a day or two, and did visit my computer three times with two different products (I bought his regular EURUSD BOT, which also is a dud, but that is another review...), but I can’t say his personal response to his product was anything to write home to Mom about...This product is misrepresented and the promos appears to be worse than that.
STG
2012-08-19 2Star I bought MDP on 03/12/2012 for $99. Good price, one time-only payment. I installed it with some difficulty, as the settings did not “take” on my computer, but after considerable tweaking, I got it going. I had to email William Morrison, the creator of MDP, who was helpful and responded in a timely manner.
MDP trades on the EURUSD currency pair, and the first thing I noticed was that it did nothing. It simply did not trade. I checked the settings, re-checked them and finally emailed Mr. Morrison. He suggested changes even though the manual said to leave them alone. This occurred many times but MDP did not trade. Finally, after several weeks, it opened some trades, small ones, as I had it set to take only minimum pips. It lost money, not much, but it started out losing. It didn’t trade much again, and even stopped for another few weeks. Mr. Morrison visited my computer this time, via TeamViewer. More tweaking. MDP opened more trades, won a few, but steadily lost more than it made.
In the meantime, MDP created two more BOTs, one that traded on USDJPY, the other on GPBUSD. They were the same one-time price, so I bought and installed them. Meanwhile the EURUSD bot traded just slightly more, but still, continued to just lose a little money each week. The two new bots didn’t do anything--and I mean, NOTHING. Again, I emailed Mr. Morrison, who re-assured me they would. They didn’t.
I kept the first BOT because of Mr. Morrison’s re-assurances, even though I went past the 60 day return deadline. I kept the first BOT and it still trades very little, still continuing to lose just a little more than it earns. I’ve tweaked its settings in every way, but it continues to be a non-producer. I returned the second and third BOTs before the 60 day deadline because they never did trade more than once or twice in two months. Mr. Morrison gave me a bit of a hassle returning my money, but eventually did.
The most remarkable thing about these BOTs is that they are very, very UN-remarkable. Mr. Morrison’s sales page says they made over 2.4 million dollars. At my current rate of profit, I’ll probably lose a hundred bucks over the next year. Can you say false advertising? To say that Mr. Morrison’s claims of making the big bucks is misleading, is very, very kind.
Mr. Morrison pitched me on his newest BOT, PhantomFX. That was a total disaster. I comment on that in another review. MDP isn’t even close to what is advertised.
STG |
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Elaine, UK, United Kingdom
| Rating: | |
| Date of Post: | 2012-07-30 |
| Review: | Purchased Million Dollar Pips with a 60 day money back guarantee, On the 12th June 2012 I installed MDP also I installed a VPS to maximize the potential of getting all the trades that were possible.
It is now the 30th July 2012 and I have had three very small trades over this period of time which amounted to $4 loss.
I have been in touch with MDP and supplied them with my broker and VPS provider and a screen shot as requested.I have just received an email requesting the same information but stating that the EURO has not traded a lot, because of issues.
I am now being told that I am past the 30 day refund period for a refund, WHICH IS PUZZLING because MDP was sold this with a 60 day refund guarantee.
In a previous email I asked if I should approach PayPal for a refund
to which they replied that if we sent the electronic receipt they would deal with it, which is when I received the latest email where the say the guarantee is out of date.
If I have any luck with REFUND I will post this to be fair to MDP. |
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Stanny B, , Canada
| Rating: | |
| Date of Post: | 2012-05-30 |
| Review: | Product does not perform as described!
I was down 25% after 2 months.
They would not process refund as per guarantee.
Real rip-off artists!!!
Don't believe the 4 or 5-star "plants" they us on this page (they are the sellers or affiliate promoters of MDP).
Stay clear. |
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Jim Stevens, Chicago, USA
| Rating: | |
| Date of Post: | 2012-05-29 |
| Review: | Makes small gains and then has some huge losses due to not stopping out trades. Do not trust this piece of garbage. |
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Rashid, Jaalan, Oman
| Rating: | |
| Date of Post: | 2012-04-17 |
| Review: | MDP required the right broker and right VPS, but that not enough because as soon there are many traders using MDP with same broker loosing traders well be more than the wininng ones and you will lose all profits. Then the journey will start again to look for the right broker and right VPS ..... headache spinning. |
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Amin EL-HAKIM, Beirut, Lebanon
| Rating: | |
| Date of Post: | 2012-04-16 |
| Review: | Well I'm rating 4 stars for the service. I got answers after 24 hours by e-mail. I didn't like the EA although I tested it with an ecn broker they recommend and a vps. They tried to help me but I asked for a refund and got it within 24 hours of asking. |
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Forex-ID10T, Secunda, South Africa
| Rating: | |
| Date of Post: | 2012-03-27 |
| Review: | OK - Bought the robot a few weeks ago - done my backtests and were HIGHLY impressed! I rather judge a robot / EA on the equity curve than on what is being said on forums. What I can read between the lines is that MDP should be able to perform well.
MDP was placed on a LIVE account with Gallant - MDP cannot work on the Gallant free VPS as the Gallant VPS is Linux and MDP requires a Microsoft DLL to be loaded. So I was not impressed:)
Eventually took the next option and opened a VPS account with UCVHost - screwed up the VPS twice in one day because this was my 1st time using a VPS :) Their support was great and got me back and up and running both times.
I noticed that my MT4 platform on my own home PC shows a connection of 60 to 80ms to the Gallant Demo account server while the VPS connecting to the Gallant Live account shows 60,000 to 80,000ms! (That is 60 secs to 80 secs!) Contacted UCVHost again and after they have done their magic the connection is flying at 10 to 16ms!
From MDP side I struggled for a few days trying different settings to no avail - contacted William and he recommended some settings which I applied- MDP is now trading. Got a winning trade and a few loosing trades so far but if MDP works as it is supposed to, I trust this will soon turn back to winning trades.
I will report back here if something good or bad happens, but from what I have seen in the demo account this will only be good. |
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