Myfxbook Autotrade

Well, each to his own...but people should check the trading histories of 'matthew mcculloch' and 'Axitrader' and decide for yourselves if you're double exposing yourselves to the same trades when you copy them both.

Another winning trade that was not copied on one account and copied on the other...

This absolutly not reliable.

Don't trust the simulator.

Aimak posted:
Alternatively, you may use the signal service provided within MT4

How is this done, to use that don't you sign up and use MQ5?

I'm on a $1,000 demo with Matthew Mcculloch. Just the other day equity has reached around $1,250 and did not close trades. Now equity is $949. This is what's puzzling with these signal providers sometimes.

That's why you can manually close trades! Close when it's high, but with an option to re-enter. I just learned that myself, the exact same thing happened to me. Ended up losing nearly 30% of my balance, but wisdom comes at a price :|

Also, this new Catatan Trader addition seems to have a meteoric rise in recent times. Strategy change, do you suppose?

I did demo for 3 weeks before going live. I highly recommend demo for 3-4 weeks and use up your 5 demo accounts and put traders at different values so you can see how they trade and how big the positions are relative to your account. I found that following the top 5 traders at 0.5 was not as profitable as using traders who have low drawdowns . A few of them took huge positions and held on way 2 long (Matthew in particular) . I have been live for 1 week and up 8% which is nice. Be careful on not setting the multiplier to high. I found it can hurt when they have a loss and they are only trading 0.1 lot size and you have set them at 0.7 multiplier because of the way the math works. Read through the help section and be sure you understand how they calculate your position size relative to the trader.

I am now going with traders who are relatively consistent and have relatively low draw downs in the live account. My 2 main traders are Yi_1 and Jasmine. I added a few more at 0.1 and will see how they trade. I have SWFX but he seems to be holding on to losers way 2 long and may drop him.

I haven't seen any slippage but I am not following the trades on MT4, just following on the website here. I do manual trading on Dukascopy

Some other points that people may not be using. You do have the option of setting your traders to a fixed lot size if you want. Also, the total % risk of your account per trader as well as the number of position a trader can open at once.
If you have 2 traders who tend to trade the same pairs you can block them from trading a currency or only allow trades to occur when you can directly monitor them.

You can cancel trades that look bad to you, I have done this a few times

UPDATE ON MY DEMO TRADES OF 1,000$ EACH:
MATTHEW - LAST WEEK REACHED $1,250 AND DID NOT CLOSE TRADES. NOW EQUITY $770
CATATAN - FEW DAYS AGO REACHED $1,180 AND DID NOT CLOSE TRADES. NOW EQUITY $1039

WHAT'S THE STRATEGY OF THESE PROVIDERS?

superphysics posted:
That's why you can manually close trades! Close when it's high, but with an option to re-enter. I just learned that myself, the exact same thing happened to me. Ended up losing nearly 30% of my balance, but wisdom comes at a price :|

never interfere with Autotrade. What's the point of Automatic trading if you kept manually interfering ? If you know better than the trader ,then do it yourself.

I don't think there are tough rules to be selected for autotrade signal provier. Nothing is holy grail.

Always be aware of the risks and never risk more that you can afford to lose

These last days were really bad, I am following pondaloanda and Axitrader.
Pondaloanda lost about 20% in the last weeks, AUD/USD was a disaster. He did sell several times but the market went up all the time.
I am starting to lose my hope, I think to make a profit is quite impossible,
Some good experience about you?
Which are your real results?
Someone is earning in this game?
I know that brokers earn, but I mean, what about traders?
Thank you for your suggestions and a considerations,
Simone
Rome, Italy

I have had the same bad experiance. I was following Yi_1 and GBPUSD kept going up and he kept going SELL and losing huge. At one point he was down -1000 pips on all his positions. As I thought these traders hold position open for way to long to make it look like they have good win rate.

I have quit this copy trading which is to bad, it went well at first.

The only way is long profit term, win more than loss , that guys seach shor profit term to win as fast as possible with their 'clients' and when account is blowed or big DD , then start again. I post a real account u can follow, no grid nor martingale no compost interest, based on automated strategies optimizations since 1999, 2 years on demo account and more than one year in real accounts being profitables, i analized more than a hundred strategies .

I checked your profile. I don't see any results?

I will begin to send signals here in myfxbook, I'm just waiting for approval from the analytics here in myfxbook. U can see my account se if you like what u see :)

Simonevet2014 posted:
These last days were really bad, I am following pondaloanda and Axitrader.
Pondaloanda lost about 20% in the last weeks, AUD/USD was a disaster. He did sell several times but the market went up all the time.
I am starting to lose my hope, I think to make a profit is quite impossible,
Some good experience about you?
Which are your real results?
Someone is earning in this game?
I know that brokers earn, but I mean, what about traders?
Thank you for your suggestions and a considerations,
Simone
Rome, Italy

Surely if a guy sells a signal this is beacause he thinks it doesn't work in the long term.

Just THINK : If it was a 'holy grail', he won't have to sell it. Even with very low capital you can be rich in a few years if you have a very good signal.

optimofx posted:
The only way is long profit term, win more than loss , that guys seach shor profit term to win as fast as possible with their 'clients' and when account is blowed or big DD , then start again. I post a real account u can follow, no grid nor martingale no compost interest, based on automated strategies optimizations since 1999, 2 years on demo account and more than one year in real accounts being profitables, i analized more than a hundred strategies .

Demo accounts is worthless. Everybody can make billions with them !

One year i real is exactly half the period market adaptation.

You will probably fail during the second year.

A lot of signals fail during the second year.

Simonevet2014 posted:
These last days were really bad, I am following pondaloanda and Axitrader.
Pondaloanda lost about 20% in the last weeks, AUD/USD was a disaster. He did sell several times but the market went up all the time.
I am starting to lose my hope, I think to make a profit is quite impossible,
Some good experience about you?
Which are your real results?
Someone is earning in this game?
I know that brokers earn, but I mean, what about traders?
Thank you for your suggestions and a considerations,
Simone
Rome, Italy

Can you tell me where I can see the list of trading providers? Also where I can see their performance? Why didn't you pay attention to the results of your provider before subscribing?