Myfxbook Autotrade

You mention that you will wait at least 3 months. Isn't it the policy of Autotrade to only put up accounts that have trades of at least 3 months?

 Question for those of us in the USA. Are any of the Brokers that are connected to Autotrade, USA friendly?

Professor53 posted:
You mention that you will wait at least 3 months. Isn't it the policy of Autotrade to only put up accounts that have trades of at least 3 months?

Imagine this unfortunately realistic scenario: a would-be provider opens 5 live micro accounts with different trading parameters. After 3 months, 4 of them have bombed terribly, but one has a nice-looking curve with seemingly excellent results. They hook that up to Myfxbook and apply to become an Autotrade provider. They are accepted.

Sure, this person has 3 months of live trading history, and the system LOOKS good, but what you can see isn't telling the whole story. In reality, this system is just like all the other ones that have margined out, but the strategy was just the one that was best fitted to the previous 3 months of trading.

Watching how the trader does for the NEXT 3 (or however many) months gives a reasonably good indication if the provider actually has a stable strategy or not. Let me provide you some links to past Autotrade providers. See if you can guess the point at which they joined Autotrade:

https://www.myfxbook.com/members/fxgrowthbot/forex-growth-bot/71611
https://www.myfxbook.com/members/fxtrading4living/mla-basic--fx-primus/457274
https://www.myfxbook.com/members/entrysignals/omr-entrysignals/454026
https://www.myfxbook.com/members/hess_sp500/hessalpari/453211
https://www.myfxbook.com/members/FXEagle/blackhawk-fx/441761
https://www.myfxbook.com/members/jagui/pepperstone/410517
https://www.myfxbook.com/members/chewfx/live-p2000-ea-ver-1/449773
https://www.myfxbook.com/members/LLonelyTrader/zhan-wang/482185
https://www.myfxbook.com/members/omegatrendea/omega-trend-ea-real/593792

Note that I'm NOT saying all these providers are crooks. Many of them probably just lost their edge for some reason. However, if you'd jumped on every new strategy that came onto Autotrade, you'd have jumped on all these. For example, I was testing a strategy of choosing a basket of Autotrade providers, and thanks to 9fxrobot I lost 68.4% of my demo account in one day. That was one of the many ones to crash and burn in less than a month and get pulled from Autotrade. You can't even see the account on Myfxbook any more.

At the moment I'm trading STANOK, WallStreet Forex Robot EUR33+GBP30 REAL, and WallStreet Forex Robot REAL. If Stable Growth Strategy keeps doing what they're doing, I plan to add them November 1. I'm not saying my way is the best. I'm just trying to share what I'm doing and hopefully we can all learn here.

Excellent research. Grade A paper.

It is quite bad period for top ranked traders this week. Especially for Stable Growth Strategy. What a shame.

SGS had a draw down which is not a dramatic DD. I calculate it to be 16% and MyfxBook says the worst is 23%. So, it wasn't the worst DD it has had, although the month is not over yet. In the scheme of things, it was not a significant DD IF YOU HAVE CALCULATED YOU RISK TAKING THE 23% DD into consideration! SGS is still in 153% profit! Yes, if you had invested in it just before this DD you will be in pain now, but this DD should have been included in your calculations since there has already been a 23% DD. If you look at the method and consider it to be solid, remembering we have only about 7 months of data, now would be a good time to invest in it. 'Buy when the others are selling' is a well publicised saying in the share trading world. 'Buy the dips' (there is a very funny, if irreverent, video on this on YouTube). I will be starting up a micro on it asap. Being careful until during Jan, as this period will be a good test for the systems.
What happens next will be a good test for it's robustness (is that a word?)
Look at the big picture Lukas.
I am interested in what others have to say about any of the systems.

russ posted:
SGS had a draw down which is not a dramatic DD. I calculate it to be 16% and MyfxBook says the worst is 23%. So, it wasn't the worst DD it has had, although the month is not over yet. In the scheme of things, it was not a significant DD IF YOU HAVE CALCULATED YOU RISK TAKING THE 23% DD into consideration! SGS is still in 153% profit! Yes, if you had invested in it just before this DD you will be in pain now, but this DD should have been included in your calculations since there has already been a 23% DD. If you look at the method and consider it to be solid, remembering we have only about 7 months of data, now would be a good time to invest in it. 'Buy when the others are selling' is a well publicised saying in the share trading world. 'Buy the dips' (there is a very funny, if irreverent, video on this on YouTube). I will be starting up a micro on it asap. Being careful until during Jan, as this period will be a good test for the systems.
What happens next will be a good test for it's robustness (is that a word?)
Look at the big picture Lukas.
I am interested in what others have to say about any of the systems.

Russ, 'buy the dips' applies to buying financial instruments where the value is determined by market consensus. For example, in the stock market or futures market, it is buyers and sellers who together determine the price. Therefore, if the price of an asset or equity dips, it MAY be a good time to buy, if you believe the fundamentals are sound.

This does not apply at all to a trading strategy, as there is no underlying price or value to a 'share' or 'unit' within Stable Growth Strategy. It's one person's (I think) performance of trading foreign exchange. There is no value consensus here. There is only a series of bad choices that have resulted in a signifcant drop in the person's trading account. Looking at this and assuming it's a good time to get in suggests a fundamental lack of understanding of the concept of 'buy low, sell high'.

Since you want to look at the big picture, let's look at a few more pieces of data.

1. This week has wiped out more than two months of profits. If you look at the open drawdown, it hasn't been this low since September 4. There has not been a drop in this account's history that has wiped out a longer period of gains.

2. This is, by far, the worst month in the account's history. Further, without significantly raising risk levels, there is no way this account is going to recover this month, so it's safe to say this will be the worst month in the account's history.

3. There's almost 8% in open drawdown.

Yes, there have been worse periods if you look at it in other ways. I'm not saying that this is absolutely, in every way, the worst it's ever performed. But it certainly is enough to make me nervous. I stated a few posts above that I was hoping to add Stable Growth Strategy at the beginning of December. Actually I wrote November but that was a typo. I have a few rules before I'll consider adding a system to my live account:

1. Positive 3, 6, 12 month returns. If the system has been open for < 12 months, then I take the history of the account. This includes 'hidden' history if it exists.

2. As I mentioned earlier, I forward test for 3 months in a demo account first. This ensures that a system will have at the bare minimum 6 months of history before I'll go live.

3. The previous month's return cannot be more than one standard deviation below the mean. Stable Growth Strategy would have to gain about 7% in the next 8 days to meet that requirement, which means a 15% growth based on its open drawdown.

I still believe that Stable Growth Strategy might be a good strategy. However, personally I'm going to wait and see before I start trading it live.

Thanks for your replies. It is really strange it is trading so bad for the last two days in comparison with the 'whole' history.

Thanks beren, great reply. I am just feeling my way through this AutoTrading. Have only ever traded for myself and am just now looking to use other alternatives.
As far as using the equity curve like a share chart, I have been part of many discussions on this topic and am very open to suggestions. From my research, entering a new position on a dip in the equity curve has been considered a valid option if, as you have said, 'if the fundamentals are sound'. For me, the fundamentals of the equity curve are centred on whether the method is systematic or not.
I am looking at the causes of the DD. On my first look it appears the gold trades have made the most damage which is not a surprise. I am not sure a single method will transfer from currencies to commodities.
Am wondering if it wouldn't be good to 'cherry pick' the pairs traded in this method and eliminate the commodities. After all, the Ausie and Kiwi reflect the commodities anyway. I assume it is possible in the live account to do this (?). Perhaps trade just AJ, AU, EY, EU, GJ and UJ for example. What do you think? The equity curve of these pairs looks 'better' than the whole....
You are a very wise person beren, to test the method so thoroughly. I would like to say I would not put Real money into it without a couple of years of data. 8 months is simply not enough.
Loving the feedback.

Hi Russ. I only put USD1000 into my AutoTrade account to start with. Also, the three systems I'm running live all have at least 16 months of verified live trading history. I also am not trying to be 'wise' on this forum; rather, I hope we can all become a little wiser by sharing with each other what we've learned.

If you're buying, say, Gold when it dips, that's one thing. Trading Stable Growth Strategy on a dip is a completely different concept and can't be compared. If you're following XAUUSD, EURUSD, or whatever, and you see an opportunity to buy/sell, go for it. That's not the same though as starting to follow another trader just when they've made a series of bad decisions.

I personally don't cherry pick from the traders I follow. I just allocate my risk amongst them according to my calculations, and then trust/hope that they know what they're doing. That's all I really have time to do at the moment, which is also why I'm not doing any live trading of my own.

Stable Growth Strategy, tem drawdown de 56.97% e deve ser removido como bataviafx management

SP com SL 200/300 pip TP 20pip é anti profissional

Querem proteger suas contas? SP com SL maximo de 100 pip. atribua 1% ou 2% sobre 100 pip

Stable Growth Strategy has drawdown of 56.97% and should be removed as management bataviafx

SP with SL 200/300 pip TP 20pip is unprofessional

Want to protect their accounts? SP with a maximum of 100 pip SL. assign 1% or 2% on 100 pip

if these SPs simply follow the trend in H1 with an SMA 100 and 200 signs would be best.

this month, in xau / usd, SPs purchased against downtrend in m1, m5, m15, m30, h1, h4

edrod007 posted:
Stable Growth Strategy has drawdown of 56.97% and should be removed as management bataviafx

SP with SL 200/300 pip TP 20pip is unprofessional

Want to protect their accounts? SP with a maximum of 100 pip SL. assign 1% or 2% on 100 pip

YES, I strongly agree, Stable Growth Strategy has drawdown of 56.97% and MUST be remove from Autotrade.
Why this SP so special & still in the system????????

In (weak) defence of Stable Growth Strategy, the 56.97% drawdown occurred on 2013-06-27. This system was not added to AutoTrade until 2013-09. Furthermore, the drawdown calculations seem to have changed for this system in the last couple weeks. The drawdown shown was not nearly this high until after the mini crash late last month.

beren posted:
In (weak) defence of Stable Growth Strategy, the 56.97% drawdown occurred on 2013-06-27. This system was not added to AutoTrade until 2013-09. Furthermore, the drawdown calculations seem to have changed for this system in the last couple weeks. The drawdown shown was not nearly this high until after the mini crash late last month.

makes sense

I would suggest to myfxbook autotrade, use pending orders: buy limit and sell limit, the 'x' pip the entry price, the signal provider.

Example: SP: buy eur / usd at 1.36000; SL 1.35500; TP 1.36500

Followers: Buy limit eur / usd at 1.3590; SL 1.35500; TP 1.36500

I see great advantages in pending orders, it minimizes loss and maximizes the gain / profit. Whereas the majority of commerce are negative before reaching the TP.

you can insert this feature / tool myfxbook autotrade?

edrod007 posted:
I would suggest to myfxbook autotrade, use pending orders: buy limit and sell limit, the 'x' pip the entry price, the signal provider.

Example: SP: buy eur / usd at 1.36000; SL 1.35500; TP 1.36500

Followers: Buy limit eur / usd at 1.3590; SL 1.35500; TP 1.36500

I see great advantages in pending orders, it minimizes loss and maximizes the gain / profit. Whereas the majority of commerce are negative before reaching the TP.

you can insert this feature / tool myfxbook autotrade?

I've been wondering about this too and meaning to suggest it. Thanks for bringing it up.

edrod007 posted:
I would suggest to myfxbook autotrade, use pending orders: buy limit and sell limit, the 'x' pip the entry price, the signal provider.

Example: SP: buy eur / usd at 1.36000; SL 1.35500; TP 1.36500

Followers: Buy limit eur / usd at 1.3590; SL 1.35500; TP 1.36500

I see great advantages in pending orders, it minimizes loss and maximizes the gain / profit. Whereas the majority of commerce are negative before reaching the TP.

you can insert this feature / tool myfxbook autotrade?

You need to understand that’s pending orders could be opened in your account and could not opened in the signal account because of Dependency of broker feed and then you will wonder why you have open position and the signal does not.
Now the signal decide to close the open order while you stay with open position that’s opened by the pending order (Dependency of broker feed), then you will need to close the position by yourself.

Yeah that is not gonna made a system more profitable, is like think reversal a looser strategy is a winning ..false..