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Myfxbook Autotrade
Mar 23, 2013 at 20:58
Great idea. I`m on demo with the autotrade program presently. Will also appreciate it if you include a column where the
performance of each signal providers can be tracked. This will enable one weed out the unprofitable signal providers. Trades needs also to be identified by signal providers when closed. It is impossible to determine closed trades by signal proivders as presently structured.
performance of each signal providers can be tracked. This will enable one weed out the unprofitable signal providers. Trades needs also to be identified by signal providers when closed. It is impossible to determine closed trades by signal proivders as presently structured.
Mar 24, 2013 at 10:52
Nice idea, however I would NEVER trade on a retail MT4 platform - I will only use MT4 for charting.
If I read correctly an earlier poster mentioned the lack of allowing a partial close. This limits Autotrades real world usefulness - Not allowing a partial close, assumes a trader who knows what there doing just closes all there position - when, in reality they manage risk fluidly.
Just my opinion - but a great idea if you can eventually roll out improvements
Stay Lucky
L.
If I read correctly an earlier poster mentioned the lack of allowing a partial close. This limits Autotrades real world usefulness - Not allowing a partial close, assumes a trader who knows what there doing just closes all there position - when, in reality they manage risk fluidly.
Just my opinion - but a great idea if you can eventually roll out improvements
Stay Lucky
L.
MOJO 1. Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp. In context of contest or display of skill such as going into battle. 2. Ability to bounce back from a debilitating trauma and negative attitude, YEAH BABY!!!!
Member Since Aug 07, 2012
35 posts
Mar 24, 2013 at 14:54
Hello guys. I am also want to join with fxbook autotrade as signal provider. I am very near to 3 months statement with my alpari real account with handsome results. Waiting for that time. Thank you.
To become a good account manager.
Mar 25, 2013 at 07:20
I really like the opportunity opened by myfxbook , as far as my experience with zulutrade this opportunity gonnabe far different and far better as we to become signal provider atleast 3 months real account trading is is request and the best thing is no demo signal provider is allowed to participate but with zulutrade the case is different even the demotrader can become signal provider with huge DD, I am looking forward to open live account and and invest atleast 1000 $ but only myconcern is slipage !!!
Thanks Myfxbook.
Thanks Myfxbook.
Member Since Jan 09, 2013
30 posts
Mar 25, 2013 at 08:25
Yes, the problem of Zulutrade is not only huge spread and slippage but also unreliability of connection to broker.
From 15th March my live signal provider is missing one 60+ pips trade, plus my follower's account is missing another 50+ trade.
Moreover, as you mentioned, Zulutrade TOP10 is full of demo gamblers with unlimited virtual money. They don't have any responsibility for followers' real money and 99% of them use grids or martingales with no STOP-LOSS.
Mick
From 15th March my live signal provider is missing one 60+ pips trade, plus my follower's account is missing another 50+ trade.
Moreover, as you mentioned, Zulutrade TOP10 is full of demo gamblers with unlimited virtual money. They don't have any responsibility for followers' real money and 99% of them use grids or martingales with no STOP-LOSS.
Mick
lam200017 posted:
I really like the opportunity opened by myfxbook , as far as my experience with zulutrade this opportunity gonnabe far different and far better as we to become signal provider atleast 3 months real account trading is is request and the best thing is no demo signal provider is allowed to participate but with zulutrade the case is different even the demotrader can become signal provider with huge DD, I am looking forward to open live account and and invest atleast 1000 $ but only myconcern is slipage !!!
Thanks Myfxbook.
Member Since Jul 31, 2009
1418 posts
Apr 01, 2013 at 09:13
k789k posted:
Etian, please, comment on the benefits you differ from Zulutrade. Thank you!
Here are few:
- We provide accurate (and real), in depth statistics.
- We don't allow demo traders.
- We filter out bad systems (as best as possible).
We'll be starting with FXCM accounts and the cost of the service will be absolutely FREE 😄, while with Zulutrade it costs a markup of 1 pip per trade (this can accumulate to hundreds of dollars per month).
Apr 01, 2013 at 11:39
Ethan
You certainly do provide in depth statistics - no argument there.
And you may filter out bad systems (I wouldn't know as you've filtered em out)
What is left is any mechanism for desperate amateur investors to READ those same statistics. It might be an idea to walk people through some of the stuff they are missing.
for instance - on a basic level
40% drawdowns - and more!
Straight line graphs rocketing upwards - but where the yellow open order graph line dangles menacingly below the red - and is unread - because people see only what they want to see.
Risk of ruin disguised by waiting for trades to come back.
I wont go on - and I have no personal angle here, because I do not, and never will trade an MT4 platform. (and i have no idea about zulutrade for that matter)
I just believe a sticky on how to have an idea of reading those great statistics you provide is showing responsibility, coupled to, a great business model - I'm not having a go here and someones inability to perform basic "Due Diligence" is not your responsibility. But I'm just saying it would be "Nice"
good luck
You certainly do provide in depth statistics - no argument there.
And you may filter out bad systems (I wouldn't know as you've filtered em out)
What is left is any mechanism for desperate amateur investors to READ those same statistics. It might be an idea to walk people through some of the stuff they are missing.
for instance - on a basic level
40% drawdowns - and more!
Straight line graphs rocketing upwards - but where the yellow open order graph line dangles menacingly below the red - and is unread - because people see only what they want to see.
Risk of ruin disguised by waiting for trades to come back.
I wont go on - and I have no personal angle here, because I do not, and never will trade an MT4 platform. (and i have no idea about zulutrade for that matter)
I just believe a sticky on how to have an idea of reading those great statistics you provide is showing responsibility, coupled to, a great business model - I'm not having a go here and someones inability to perform basic "Due Diligence" is not your responsibility. But I'm just saying it would be "Nice"
good luck
MOJO 1. Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp. In context of contest or display of skill such as going into battle. 2. Ability to bounce back from a debilitating trauma and negative attitude, YEAH BABY!!!!
Member Since Nov 21, 2011
1601 posts
Apr 02, 2013 at 15:28
Hey,
We should have a %(performance) of change since they have become a provider. (like when we add an account to the watch list).
Also, It appears EXACTLY the same as Zulutrade => More traders enrolled to a provider, and more traders subscribe to the same one. Everyone is lazy to look for the best one. Everyone think like a sheep. (if a lot of people subscribe, that means it's a good deal) Don't complain if you loose with autotrade.
I have added to my watchlist since Autotrade started, the account with the most subscribers... and guess what? it has lost 3%.
Indeed, The list of providers performance is not updated correctly into Autotrade page's.
If you want something different from Zulutrade, then don't do like them... do not provide followers! And do better. HOW?
Only subscriber could be allowed to vouch for a provider if autotraded account has gained over 10% after 3 months at least. Then people won't have to think to get the best provider. Also, they should be able to "unvouch" if a provider starts to be really bad.
If you don't do that... Many people will be unsatisfied.
We should have a %(performance) of change since they have become a provider. (like when we add an account to the watch list).
Also, It appears EXACTLY the same as Zulutrade => More traders enrolled to a provider, and more traders subscribe to the same one. Everyone is lazy to look for the best one. Everyone think like a sheep. (if a lot of people subscribe, that means it's a good deal) Don't complain if you loose with autotrade.
I have added to my watchlist since Autotrade started, the account with the most subscribers... and guess what? it has lost 3%.
Indeed, The list of providers performance is not updated correctly into Autotrade page's.
If you want something different from Zulutrade, then don't do like them... do not provide followers! And do better. HOW?
Only subscriber could be allowed to vouch for a provider if autotraded account has gained over 10% after 3 months at least. Then people won't have to think to get the best provider. Also, they should be able to "unvouch" if a provider starts to be really bad.
If you don't do that... Many people will be unsatisfied.
forex_trader_88466
Member Since Aug 19, 2012
7 posts
Apr 02, 2013 at 17:09
Hi,
How do you ensure the integrity of a strategy?
I took a brief look of the currently available systems where I can identify several systems associated clearly towards their developer. E.g RobinVol 2.0 and Forex Growth Bot.
On the other hand I found one strategy "Growth / Invest"... which looks pretty much as Forex Growth Bot and Forex Invest Bot upon its name/trades/pattern. Is that run/authorized by the developer(s)? Or what qualifies/allow this?
Further, I do understand that Martingale and Grid Strategies should not be allowed as stated in the FAQ. Well there seems to be already exceptions in your guidelines then.
Thus, even with a view systems listed it appears to be already rather difficult to ensure the quality intended.
My concern is that AutoTrade will end up as "similar" services where commercial/free strategies are provided by "third" parties of any experience/quality.
If AutoTrade's focus is Quality it should be driven hard and straight from the beginning.
How do you ensure the integrity of a strategy?
I took a brief look of the currently available systems where I can identify several systems associated clearly towards their developer. E.g RobinVol 2.0 and Forex Growth Bot.
On the other hand I found one strategy "Growth / Invest"... which looks pretty much as Forex Growth Bot and Forex Invest Bot upon its name/trades/pattern. Is that run/authorized by the developer(s)? Or what qualifies/allow this?
Further, I do understand that Martingale and Grid Strategies should not be allowed as stated in the FAQ. Well there seems to be already exceptions in your guidelines then.
Thus, even with a view systems listed it appears to be already rather difficult to ensure the quality intended.
My concern is that AutoTrade will end up as "similar" services where commercial/free strategies are provided by "third" parties of any experience/quality.
If AutoTrade's focus is Quality it should be driven hard and straight from the beginning.
Member Since Jun 18, 2012
9 posts
Apr 02, 2013 at 20:04
Folex posted:
Hi,
How do you ensure the integrity of a strategy?
I took a brief look of the currently available systems where I can identify several systems associated clearly towards their developer. E.g RobinVol 2.0 and Forex Growth Bot.
On the other hand I found one strategy "Growth / Invest"... which looks pretty much as Forex Growth Bot and Forex Invest Bot upon its name/trades/pattern. Is that run/authorized by the developer(s)? Or what qualifies/allow this?
Further, I do understand that Martingale and Grid Strategies should not be allowed as stated in the FAQ. Well there seems to be already exceptions in your guidelines then.
Thus, even with a view systems listed it appears to be already rather difficult to ensure the quality intended.
My concern is that AutoTrade will end up as "similar" services where commercial/free strategies are provided by "third" parties of any experience/quality.
If AutoTrade's focus is Quality it should be driven hard and straight from the beginning.
In cases like this you should be able to "REPORT" a system. MyFxBook should only remove the system if the developer contacts them and objects. Just because someone is using a commercial systems should not disqualify them. There is also an art to OPERATING a robot that shouldn't be ignored.
Being Cheesy Ain't Easy...
forex_trader_88466
Member Since Aug 19, 2012
7 posts
Apr 03, 2013 at 05:08
blackopzfx posted:
In cases like this you should be able to "REPORT" a system. MyFxBook should only remove the system if the developer contacts them and objects. Just because someone is using a commercial systems should not disqualify them. There is also an art to OPERATING a robot that shouldn't be ignored.
Hi,
Well, its not a matter of quality... as I said prior "any quality" should state this...
To get this straight, in most cases one would violate the TOS (Terms of Service) of a developer/vendor of a commercial system if such signals would be provided by a third party if not authorized. Thus its an infringement where the 3rd party and AutoTrade would be liable.
A simple report feature would help initially but not solve such cases. From a developer point of view i would take legal action accordingly.
If AutoTrade is serious about their business they should have for their own protection a proper TOS/Registration/Verification (Broker alike) in place.
Again, lets not see AutoTrade becomming just an other "junk" hub. It would be a pity if a great opportunity would be missed.
Member Since Jul 31, 2009
1418 posts
Apr 03, 2013 at 10:59
@Folex How do you suggest distinguishing commercial systems? There is no certain way to do that as far as we're aware.
Apr 03, 2013 at 11:40
igbi1958 posted:
Great idea. I`m on demo with the autotrade program presently. Will also appreciate it if you include a column where the
performance of each signal providers can be tracked. This will enable one weed out the unprofitable signal providers. Trades needs also to be identified by signal providers when closed. It is impossible to determine closed trades by signal proivders as presently structured.
I also 2nd this request. A feature like this would be invaluable since you can only open one demo account and currently we have no way of sorting through past trades of different providers.
Member Since Jul 31, 2009
1418 posts
Apr 03, 2013 at 12:11
Iroa posted:igbi1958 posted:
Great idea. I`m on demo with the autotrade program presently. Will also appreciate it if you include a column where the
performance of each signal providers can be tracked. This will enable one weed out the unprofitable signal providers. Trades needs also to be identified by signal providers when closed. It is impossible to determine closed trades by signal proivders as presently structured.
I also 2nd this request. A feature like this would be invaluable since you can only open one demo account and currently we have no way of sorting through past trades of different providers.
We've already added it yesterday but haven't announced it yet 😄
Go to your system (through your portfolio) and find the 'AutoTrade' tab in the trading window. It will also analyze in real time different periods in case custom analysis is used.
forex_trader_88466
Member Since Aug 19, 2012
7 posts
Apr 03, 2013 at 17:51
Staff posted:
@Folex How do you suggest distinguishing commercial systems? There is no certain way to do that as far as we're aware.
You could focus for a start on/only allow systems which can be genuinely linked to the developer. E.g. Walllstreet, RobinVol, FE, GrowthBot. That should be rather easy to verify and drives quality/trust for all involved.
If a system is in doubt it can be placed in public monitoring stating the concerns regarding. Let your user decide its faith ;)
Put a TOS in place where you assign any infringement liability matters towards the SP (signal provider). Ownership and or authorization must be in place etc. You can drive this as far as fining an SP in case of violations as they may impact your business. That should help avoiding improper sign ups already. SP should be required to sign off/acknowledge the TOS accordingly...
On the scale AutoTrade may play I would get an attorney for an initial TOS setup. Get yourselves covered first.
We may discuss further via PM.
Member Since Nov 21, 2011
1601 posts
Apr 05, 2013 at 22:17
forex_trader_3734
Member Since Nov 26, 2009
33 posts
Apr 07, 2013 at 09:24
I think the most important thing now should be including only the very best providers.
It's pointless having dozens and dozens of providers, the selection is what can most differentiate myfxbook from others.
The value is in the selection.
These are some providers that I think should be removed:
http://www.myfxbook.com/members/maxpro_vn/ping-ea-hung/461335
http://www.myfxbook.com/members/myfxpedia/project-500-pips-month/420510
http://www.myfxbook.com/members/spoteuro/spoteuro-llc/185926
http://www.myfxbook.com/members/stevecyc/steve-fxcm-907/230948
The equity yellow line is suggesting the provider keeps bad trades open for too long hoping for a recovery, or system seems to be usign some sort of grid/martingale.
http://www.myfxbook.com/members/BrendanKing/kit/519377
Because a provider cannot drop 30% in one day.
These account may be followed in many ways, but not reccomended as providers.
It's pointless having dozens and dozens of providers, the selection is what can most differentiate myfxbook from others.
The value is in the selection.
These are some providers that I think should be removed:
http://www.myfxbook.com/members/maxpro_vn/ping-ea-hung/461335
http://www.myfxbook.com/members/myfxpedia/project-500-pips-month/420510
http://www.myfxbook.com/members/spoteuro/spoteuro-llc/185926
http://www.myfxbook.com/members/stevecyc/steve-fxcm-907/230948
The equity yellow line is suggesting the provider keeps bad trades open for too long hoping for a recovery, or system seems to be usign some sort of grid/martingale.
http://www.myfxbook.com/members/BrendanKing/kit/519377
Because a provider cannot drop 30% in one day.
These account may be followed in many ways, but not reccomended as providers.
