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Myfxbook Autotrade
Mar 04, 2018 at 05:58
OnTheEdge posted:Myra11 posted:
How are auto trade providers paid on myfxbook? Paypal? Skrill? BTC?
Anyone know?
It's all in the FAQ section.
Actually, NO, my question is not in the autotrade FAQ. I'm very familiar with that page and the information provided. That is why I posted my question here. But disregard, as I've asked support the question and they obliged with an answer.
"Payment is made by Paypal (2% fee) or Wire Transfer ($40) - minimal balance to withdraw is $100 - you can decide when you want to withdraw the money (withdrawal may take up to 7 business days)."
If all that info is there on the FAQ page, then I must be blind.
“Believe it can be done. When you believe something can be done, really believe, your mind will find the ways to do it. Believing a solution paves the way to solution.” ― David J. Schwartz
Membro Desde Jan 23, 2017
17 posts
Mar 09, 2018 at 09:19
I use Pepperstone as my Autotrade Account - then copy the trades to JFD and IC Markets - copying is done on my PC instantly.
Now I found that JFD and IC Market close the trades at exactly the same time - but the spread is huge nearly 100pips
Can anyone give me an explanation for this ?
That way copying trades makes no sense at all !
Pepperstone - the 2,20 is comission
JFD
IC Markets
Now I found that JFD and IC Market close the trades at exactly the same time - but the spread is huge nearly 100pips
Can anyone give me an explanation for this ?
That way copying trades makes no sense at all !
Pepperstone - the 2,20 is comission
JFD
IC Markets
Anexos:
technobilder@
Membro Desde Jan 23, 2017
17 posts
Mar 09, 2018 at 09:19
Correct JFD file for 2nd example
Anexos:
technobilder@
Membro Desde Aug 05, 2016
119 posts
Mar 11, 2018 at 07:25
PhilTrader posted:
Correct JFD file for 2nd example
Only thing that I can think of is Spreads and illiquid markets at time of closing.
There can be slippage from master to slave, depending on where servers are located at different accts.
Also the spreads may differ from broker to broker, but my guess is slippage not spread.
PAM Fund (Mount Cook Financial). Please vouch for my system. “Learn from your mistakes and do not give up!”
Mar 23, 2018 at 12:48
hello, can someone please clarify what exactly is the account_currency_ratio in the formula that myfxbook uses to calculate follower lots size? Here is the full formula (source: https://www.myfxbook.com/autotrade/help#help_9)
account_currency_ratio = follower_account_currency to provider_account_currency ratio
Is this just another way of saying exchange rate? Ie. if the follower account is JPY and the system's account is NZD, this would be JPYNZD=1/NZDJPY at that time of trade execution?
Thanks for your help
account_currency_ratio = follower_account_currency to provider_account_currency ratio
Is this just another way of saying exchange rate? Ie. if the follower account is JPY and the system's account is NZD, this would be JPYNZD=1/NZDJPY at that time of trade execution?
Thanks for your help
Membro Desde Mar 28, 2016
94 posts
Jul 30, 2018 at 06:04
Hello
ok
ok
Membro Desde Apr 08, 2011
148 posts
Aug 13, 2018 at 00:57
Is anyone making money by copying the signals? They seem to charge a spread mark-up for every broker that supports Autotrade. Here is the answer from IC Markets for example:
"Thank you very much for contacting IC Markets.
Kindly be advised this is due to you being under myfxbook autotrade.
Please note that myfxbook autotrade charges a spread mark up for use of their service which is 0.6 pip.
Therefore the minimum spread charge is 1.6 pips.
This due to you being connected to them otherwise if you were not and you had a True ECN account spread will be at no mark up and be at 0.6.
Please let us know if you require further information and we will be more than happy to assist."
With that heavily increased spread, I don´t see how one could for example copy the signals of all the night scalping systems that go for small pip profits on exotic pairs.
"Thank you very much for contacting IC Markets.
Kindly be advised this is due to you being under myfxbook autotrade.
Please note that myfxbook autotrade charges a spread mark up for use of their service which is 0.6 pip.
Therefore the minimum spread charge is 1.6 pips.
This due to you being connected to them otherwise if you were not and you had a True ECN account spread will be at no mark up and be at 0.6.
Please let us know if you require further information and we will be more than happy to assist."
With that heavily increased spread, I don´t see how one could for example copy the signals of all the night scalping systems that go for small pip profits on exotic pairs.
Membro Desde Jan 23, 2017
17 posts
Aug 13, 2018 at 06:36
I use IC Market myself (plus Pepperstone and JFD) and all I can say is that if you copy Autotrade signals your earnings are way higher than any additional pips that the broker adds.
If a copied signal earns me 100 EUR I dont care if I could have made 102 EUR without that extra spread - that 2 EUR I happily pay because it saves me the hassle of trading myself !
BUT - if you do autotrade with just a 1000 EUR depot then sure your additional pips are "higher" as if your depot would be at 10.000 EUR - thats why I always tell people to at least use a live depot with 15K money in it.
If a copied signal earns me 100 EUR I dont care if I could have made 102 EUR without that extra spread - that 2 EUR I happily pay because it saves me the hassle of trading myself !
BUT - if you do autotrade with just a 1000 EUR depot then sure your additional pips are "higher" as if your depot would be at 10.000 EUR - thats why I always tell people to at least use a live depot with 15K money in it.
technobilder@
Membro Desde Jan 23, 2017
17 posts
Aug 13, 2018 at 06:37
And sure - if you want to go for those scalping signals you should be on the safe side - if your copied signal is always under 0.1 lot - FORGET IT !
technobilder@
Aug 14, 2018 at 06:47
PhilTrader posted:
I use IC Market myself (plus Pepperstone and JFD) and all I can say is that if you copy Autotrade signals your earnings are way higher than any additional pips that the broker adds.
If a copied signal earns me 100 EUR I dont care if I could have made 102 EUR without that extra spread - that 2 EUR I happily pay because it saves me the hassle of trading myself !
BUT - if you do autotrade with just a 1000 EUR depot then sure your additional pips are "higher" as if your depot would be at 10.000 EUR - thats why I always tell people to at least use a live depot with 15K money in it.
Just consider what you wrote, just simple math, bigger depot means bigger lot size, results in higher amount for extra spread
Membro Desde Sep 25, 2015
3 posts
Aug 29, 2018 at 14:16
I'm interested to know who people use to do their autotrades. I'm finding that regardless of the gains from the trader I'm losing money due to fees / slippage.... thanks, Nick
Membro Desde Sep 25, 2015
3 posts
Aug 29, 2018 at 14:16
geektrader posted:I'd be interested in having a chat if you can provide better services / terms?
Is anyone making money by copying the signals? They seem to charge a spread mark-up for every broker that supports Autotrade. Here is the answer from IC Markets for example:
"Thank you very much for contacting IC Markets.
Kindly be advised this is due to you being under myfxbook autotrade.
Please note that myfxbook autotrade charges a spread mark up for use of their service which is 0.6 pip.
Therefore the minimum spread charge is 1.6 pips.
This due to you being connected to them otherwise if you were not and you had a True ECN account spread will be at no mark up and be at 0.6.
Please let us know if you require further information and we will be more than happy to assist."
With that heavily increased spread, I don´t see how one could for example copy the signals of all the night scalping systems that go for small pip profits on exotic pairs.
Membro Desde Sep 12, 2018
8 posts
Sep 25, 2018 at 13:53
I usually try to match my broker with the one that the signal provider uses. Should be less slippage that way
Sep 26, 2018 at 10:45
maiquang posted:
Can anybody tell me the best broker to link to autotrade is any broker? to have the lowest spread..Thanks
Mate, please don’t select your trading broker based on others opinion; it’s very much vital issue! Better, go to broker section of this form & spends enough times in there.
Membro Desde Feb 22, 2011
4573 posts
Sep 26, 2018 at 13:58
FXMouthPiece posted:
I usually try to match my broker with the one that the signal provider uses. Should be less slippage that way
I agree with that.
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