The recently released Million Dollar Pips is a new forex trading robot that has been produced by William Morrison. The robot trades using some simple indicators with advanced money management and is able to keep an extremely low stop loss of no more than 2 – 7 pips on average.
The great thing about using a forex trading robot is that it can take away the fear and indecision of making your trades as the trades are automatically placed when certain technical indicators are triggered. What makes the Million Dollar Pips robot more appealing is that it incorporates a money management system to keep risk low. Morrison claims that the risk to your capital is kept as low as 2.5%. Keeping the risk low is a good point in my opinion.
So lets take a look at some of the result. If you take a look at the product page (click here), you will see that there is an image graphing the trading results for May 2011. The results appear to have been verified by myFXBook which is encouraging:
(MyFXBook is an online automated analytical tool for forex trading accounts that enables traders to track, compare, analyze and share their trading activity.)
If you take a look at the Million Dollar Pips product page, you will see that there is a lot of information to digest. So here is a brief overview of what is offered:
- Million Dollar Pips is a forex trading robot.
- The software will run against your trading account and will automatically place trades with stop losses for you.
- You won’t need to make any decisions on trades. This means you will never miss that great trade. You will still lose trades, but they will have a stop loss already set that will help protect your capital.
- Remember that all successful traders lose trades. You just need to keep making trades and not losing your capital so that you make the money on the winning trades.
- Because it is a robot, Million Dollar Pips will be able to trade while the market is open. This means that it can effectively trade while you sleep!
Also, Million Dollar Pips product page comes with a 60 day money back guarantee, so if it doesn’t work out for you and does not fit your style of trading, then you can always get a refund.