Can a Forex Robot Like Million Dollar Pips Really Work?

Can a Forex Robot Like Million Dollar Pips Really Work?
Does it realy work?

Does Million Dollar Pips work?Million Dollar Pips says they are a million dollar Forex trading robot, and that they have results to back it up. They also say that you can use this same robot to make trades for you. If the thought of turning your fortunes over to a robot is a little unnerving, it’s important to remember just how fast the markets move in Forex. A robot is actually better equipped to keep track of all the variables in real time. So can this software actually help you make money?

Overview
A “pip” in Forex trading stands for percentage in point, and represents the smallest price increment possible. So a name like Million Dollar Pips entails that there would only need to be the slightest movement, and you’d be able to cash in on it. The human mind is a wonderful thing, but there are some tasks that a computer is faster with, namely multiplying large numbers and other mundane tasks involving math and algorithms. It’s not a big leap to see that a computer is much better equipped at making solid Forex trades than a human.

The Claim
Million Dollar Pips claims that you can it is a completely automated system, which would appeal to novice Forex traders, since the whole process can seem overwhelming, and hard to get into. They say you can set it and forget it, but still earn plenty from it. They say you won’t waste time researching, and since time is money all of that time spent looking up different currency trends, and following global news, can instead be used to essentially make you more money.

They say you can forget about trying to interpret all of the numbers, all of the indicators, all of the statistics, past trades, trends, and just put it in the hands of their software. They also claim that their reporting is highly accurate, so you don’t have to worry about getting scammed, and that the system is designed to minimize the potential risk as much as possible by carrying out only the best trades at any given time.


The Hype
The Forex market is huge, and there are several programs out there that promise to teach you how to trade better, as well as plenty of Forex robots claiming to have cracked the code and letting you get in on the action. The hype comes from just how much money can be made in any given moment.

The Cost
Million Dollar Pips is $100 and is a one-off payment with a 30 day guarantee. This is not a ClickBank product so you don’t get the 60 day trial and we can’t vouch for how fast or hassle free a refund will be, if you end up asking for one.

The Commitment
Even though this is a largely hands-off system, you’ll still want to devote some time in familiarizing yourself with Forex in general, learning the basic lingo, and knowing how to make and lose money with it. This can be a very exciting and profitable way to make money, but it can also be a way to quickly lose your shirt, so you shouldn’t just put all of your faith into a piece of software. Know what you’re getting into, and why things are happening when they happen.

Evaluation
The basic flaw to Million Dollar Pips is why would they release a money-making robot like this to the general public for $100? It should be able to make them several hundred dollars again and again, so why bother setting up a website and collecting payments from people, dealing with customer service, and going through all of this for few thousands dollars a month – or whatever it is they pull in. Surely it must pale in comparison to the millions of dollars they are clearing every year by trading.

If you can get over that flaw, the idea of having a robot trade for you is a solid one. In fact it’s what major companies do. They have their analysts running the software and programming the software, but they are definitely not relying on humans to execute the trades and watch the different tickers go up and down.

Final Million Dollar Pips Review

A system like Million Dollar Pips, which basically touts itself as an auto-pilot way of trading Forex, makes some pretty bold promises. But there had to be the first pilot to ever put an airplane on autopilot and let go of the yoke. It’s amazing what machines can do these days, and it’s not too far of a leap to think that a robot could make all of your trades for you. Plus it’s a fact that trading robots are very popular in Forex, so you’re not exactly making a groundbreaking discovery here.

The only way to know if it will make you money is to put it through its paces. Start off with a small amount of money and see how it performs, as it earns your confidence you can invest more and more into it, or just keep rolling over the proceeds to keep your total investment small.

Our Recommendation
Even though they advocate not doing any of your own research, we think that it’s not a total waste of your time to keep up with development. Maybe you could end up doing less research, and stressing less about which trades to make, getting the fun back into it. Part of the fun of Forex, in our opinion, is being involved with the process, so you don’t want it totally hands free.

What do you think? Does Million Dollar Pips work or not?


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{ 1 comment… read it below or add one }

Kevin Long September 27, 2012 at 5:53 am

All the trades nowadays are being done with computer software and it seems like these softwares target trades with low gains but in large quantity to make money with huge number of trades every day. It makes sense in some ways, but at the same token it makes me wonder what would happen once everyone starts using bots like this. Reality is that if someone makes money then someone else has to lose money.

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