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Myfxbook Autotrade

Mar 06, 2013 at 06:51
52,368 Views
943 Replies
Member Since Aug 07, 2011   78 posts
Dec 20, 2016 at 08:38
elsa85 posted:
thank you snowy, I know these difference. But I would like understand how much can be the difference about my demo account of 270%? can I gain 100% at least?

That depends also on the provider which you are copying. For example, with an asian session scalper the copy could completely fail, even when the demo made 270%. But with a 'normal' trading style it could come close to the demo numbers. Not easy to say, only experience will tell. You'll have to try.

I also don't have a clue, how good this is working, so I started a live account yesterday to try it out. Time will tell. :)
Member Since Feb 22, 2011   4862 posts
Dec 20, 2016 at 09:27
snowy posted:
elsa85 posted:
thank you snowy, I know these difference. But I would like understand how much can be the difference about my demo account of 270%? can I gain 100% at least?

That depends also on the provider which you are copying. For example, with an asian session scalper the copy could completely fail, even when the demo made 270%. But with a 'normal' trading style it could come close to the demo numbers. Not easy to say, only experience will tell. You'll have to try.

I also don't have a clue, how good this is working, so I started a live account yesterday to try it out. Time will tell. :)

Watch the stat average trade pip profit. If this number is high your profit should be similar on demo and real.
If it is too low the demo could have much better results than real.
Member Since Nov 30, 2009   149 posts
Dec 20, 2016 at 09:35
My experience with real autotrade was somewhat positive because of the increased latency. With the demo we could say the trades are instant, but with real account an extra latency seems affecting the trades from Myfxbook server and the server with the real account. For instance my provider was Pepeperstone that has servers in NY and I invested in LuckyPound that uses AlpariRU. In all, with the increased latency and spread some of the trades will be negative in your real account and those positive will have a lower profit. So you cannot expect the same profit as shown in your demo autotrade.

I suppose that Myfxbook have their servers in UK or Ireland. Next time I will choose a forex provider with servers in UK or geographically close. I think it is also important choosing signal providers whose servers are also close to your real account's server.

I would like to see in Myfxbook the ping values between different servers and signal providers like Metaquotes do.
exquisite entries with calculated exits
Member Since Feb 22, 2011   4862 posts
Dec 20, 2016 at 09:39
Aimak posted:
My experience with real autotrade was somewhat positive because of the increased latency. With the demo we could say the trades are instant, but with real account an extra latency seems affecting the trades from Myfxbook server and the server with the real account. For instance my provider was Pepeperstone that has servers in NY and I invested in LuckyPound that uses AlpariRU. In all, with the increased latency and spread some of the trades will be negative in your real account and those positive will have a lower profit. So you cannot expect the same profit as shown in your demo autotrade.

I suppose that Myfxbook have their servers in UK or Ireland. Next time I will choose a forex provider with servers in UK or geographically close. I think it is also important choosing signal providers whose servers are also close to your real account's server.

I would like to see in Myfxbook the ping values between different servers and signal providers like Metaquotes do.

Well you should add that latency is not always negative.
Latency is just delay when you open/close trade.
During the delay price move somewhere else.
It could be positive as well as negative move. So at the end the impact should be minimal as sometimes you gain on latency sometimes you loose.
Member Since Nov 30, 2009   149 posts
Dec 20, 2016 at 09:54
togr posted:
Well you should add that latency is not always negative.
Latency is just delay when you open/close trade.
During the delay price move somewhere else.
It could be positive as well as negative move. So at the end the impact should be minimal as sometimes you gain on latency sometimes you loose.

Yes, you are correct. However I did not see that happening often.
exquisite entries with calculated exits
Member Since Jun 03, 2015   14 posts
Dec 20, 2016 at 11:23
snowy posted:
elsa85 posted:
thank you snowy, I know these difference. But I would like understand how much can be the difference about my demo account of 270%? can I gain 100% at least?

That depends also on the provider which you are copying. For example, with an asian session scalper the copy could completely fail, even when the demo made 270%. But with a 'normal' trading style it could come close to the demo numbers. Not easy to say, only experience will tell. You'll have to try.

I also don't have a clue, how good this is working, so I started a live account yesterday to try it out. Time will tell. :)

Hi Snowy,

Requesting you to please connect your account with myfxbook and share ur account publically.
Trade for Life
Member Since Aug 07, 2011   78 posts
Dec 20, 2016 at 11:43
ForexMechanism posted:
Hi Snowy,

Requesting you to please connect your account with myfxbook and share ur account publically.

Not sure, if this violates some myfxbook rules or whatsoever?
Member Since Feb 19, 2014   11 posts
Dec 20, 2016 at 15:39
ok, thank you guys. I will start with real account in january, like snowy said, only time will tell. but I chose gmfx, new zeland broker, but from what I read I should chose a european broker, for better latency right? Fxcm, in england, is a good broker? or can you tell me some advice?
Member Since Aug 07, 2011   78 posts
Dec 20, 2016 at 16:54 (edited Dec 20, 2016 at 16:55)
ForexMechanism posted:
Hi Snowy,

Requesting you to please connect your account with myfxbook and share ur account publically.

Done.

I also opened an Autotrade Demo account at the same time to verify the results between the original provider-accounts, myfxbook autotrade-demo and the trades on my real account. For that I built a little database and process the data of all the accounts from time to time to make an easy comparison.

It's only 1.5 days for now, but what i can say so far: the trades on the demo are even better than the ones on the original real accounts of the signal providers. ;)

Providers: 125.4 pips
Demo: 133.3 pips
Live: 113,8 pips
Member Since Jun 28, 2010   64 posts
Dec 21, 2016 at 18:47
Hi Snowy ,

thanks for sharing ....you should start selling your signals ...lol ....
Member Since Mar 29, 2011   9 posts
Dec 22, 2016 at 04:00
elsa85 posted:
ok, thank you guys. I will start with real account in january, like snowy said, only time will tell. but I chose gmfx, new zeland broker, but from what I read I should chose a european broker, for better latency right? Fxcm, in england, is a good broker? or can you tell me some advice?

Hi elsa85 Merry Christmas to all ......GMT +0 Broker Server Location for Best AutoTrade result.BTW elsa85 checkout these 3 Autotrade Provider i am testing with Autotrade Demo still need more month to test this service. :)

https://www.myfxbook.com/members/syeikhman/syeikhman/1743779
Member Since Apr 16, 2011   7 posts
Dec 22, 2016 at 04:26
^ You can't rely on Demo Accounts, they give you an idea of what's possible without slippage or ridiculous spread increases that we're seeing in some brokers. You gotta get your feet wet with a live account, some signals work well, scalpers will bleed your account dry. You have to experiment and do proper analysis to see what works and what doesn't.

It would be good if we had a definitive list of brokers who execute the signal trades the fastest from the myfxbook server though.
no pain no gain.
hodias
forex_trader_349955
Member Since Aug 07, 2016   37 posts
Dec 22, 2016 at 15:26
fortress posted:
^ You can't rely on Demo Accounts, they give you an idea of what's possible without slippage or ridiculous spread increases that we're seeing in some brokers. You gotta get your feet wet with a live account, some signals work well, scalpers will bleed your account dry. You have to experiment and do proper analysis to see what works and what doesn't.

It would be good if we had a definitive list of brokers who execute the signal trades the fastest from the myfxbook server though.


Good intervention!
Member Since Aug 14, 2016   23 posts
Dec 25, 2016 at 08:53
snowy posted:
ForexMechanism posted:
Hi Snowy,

Requesting you to please connect your account with myfxbook and share ur account publically.

Done.

Providers: 125.4 pips
Demo: 133.3 pips
Live: 113,8 pips

Thankyou Snowy for this valuable info. I plan to start exactly the same way you have trading Auto trader live but will 'Incubate' by systems for a full year before injecting real money in them.

BTW.. as some one mentioned...you really should start your own auto trading system :P
Never chase the market!
Member Since Aug 14, 2016   23 posts
Dec 25, 2016 at 09:12
fortress posted:
^ You can't rely on Demo Accounts... scalpers will bleed your account dry. You have to experiment and do proper analysis to see what works and what doesn't.

I thought Auto trader does not allow scalping systems in. Although, I do see a number of 5-6 pip profits on my demo account which I am sure will turn out negative in a real account...
Never chase the market!
Member Since Aug 07, 2011   78 posts
Dec 25, 2016 at 18:19
I indeed aplied my acc as Autotrade provider, but it was disapproved by Myfxbook. Reason: adding too many times to existing positions.
While other accounts, which are clearly asian session scalper, without sl/tp and an average pip expectancy below the required minimum, are approved recently: https://www.myfxbook.com/members/autotrade/premium-trading-bb/1771823. THAT thing will never work on subscriber accounts. Everything a bit dubious...
Member Since Aug 14, 2016   23 posts
Dec 26, 2016 at 07:30
This true....my fx book says it does not allow grid strategy or scalping..yet a demo account of mine shows returns of 1 to 2 pips for 10 + trades and all entry positions of a certain trader show a few pips above and below market price :)

Need to tread the waters carefully before diving in with real money...
Never chase the market!
Member Since Aug 08, 2016   4 posts
Jan 02, 2017 at 09:14
hello guys

i am going to open a live account with autotrade with $1000. i have being testing with a demo account and result was good so far. this is my demo account
https://www.myfxbook.com/members/kochear1/demo-1/1738309

so my question is if i open a real account with $1000 can i see result like this? i'm not expecting same results but 5-10% monthly gain is enough for me
what is the best broker for auto trader?
Member Since Jun 03, 2015   14 posts
Jan 02, 2017 at 12:32
Hi Kochear1,

The pip expectancy in your system is 3.8 Pips / $0.37. You can decrease it to 2.8 pips roughly.

Which signal providers u have subscribed in your system ?
Trade for Life
rob559
forex_trader_29148
Member Since Feb 11, 2011   1916 posts
Jan 03, 2017 at 07:12
got 2 live accs that will be aproved soon
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