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Myfxbook Autotrade
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igbi1958

Member Since Dec 05, 2010  17 posts igbi1958 Apr 07 2013 at 20:17
I agree with the point member JAGUI made. It will be wise to only allow signal providers who have been vetted and have a proven track record of delivering good performance into the autotrade program. Myfxbook have a pool of traders who are very good . The process of allowing every signal providers as it is presently is a bad one It does not make sense to use members of the community as guinea pigs for signal providers who have no clue on what they doing. If possible have signal providers open their own live acct with the minimum deposit required for a period of let say 3 months for members of the community to see. That way members will be able to see how signal providers perform. Members will be able to see first hand their drawdown and other aspect of their trading strategies. That way, members can make well informed decisions about the signal providers to sign up with.

jagui

Member Since Nov 26, 2009  33 posts jagui Apr 07 2013 at 21:42
I didn't mean SO selective :-)

Currently the selection process is not that bad, signal providers already have a live account showing at least several months of real performance, and the quantitative selection criteria make sense.

I just would add another selection layer, based on qualitative observation of the provider's trading style.

blackopzfx

Member Since Jun 18, 2012  7 posts BlackOpzFX (blackopzfx) Apr 08 2013 at 06:11
Staff posted:
@Folex How do you suggest distinguishing commercial systems? There is no certain way to do that as far as we're aware.


Nope. No way. Just self reporting and proof that the system takes similar trades to an existing system with a TOS violation. That seems easy enough to me since most EA users can easily identify systems taking identical trades and would know if it violates the TOS for that EZ. It might take a little time for systems to get spotted but the top systems would be uncovered pretty quickly since they have so many demo users. Myfxbook just needs to encourage the community to spot and report cheaters and I guarantee that the AutoTrade list will remain pure and unique.

klaabukosmos

Member Since May 18, 2010  35 posts klaabukosmos Apr 09 2013 at 06:22
Dear myfxbook!

Nice to see that you compare yourself with ZuluTrader and think that You doing better. They have working solutsion and working many years now. Your AutoTrader is just starting...maybe better take some time first and then say that You are better then ZuluTrader. At a moment this is just words.

Myfxbook is grate sait and I use it many years. But If I look Your Contest, what is scam and I dont see that Myfxbook try do fix it ...Then Im not hope do much that AutoTrader thing.

buy and pray..
4xlex

Member Since Jan 07, 2013  2 posts 4xlex Apr 09 2013 at 06:29
I applied as a Provider 2 days ago. how long does it stay 'pending'?

KornBanane

Member Since Apr 04, 2013  1 posts KornBanane Apr 09 2013 at 06:30
Hi there,

i've two questions about AutoTrade (about the Demo Account):

1. When I look at Portfolio-> My Demo Account. Where can I see in my historiy teades which signal provider makes the trades ?

2. Is there a possibility to set a initial account balance ? I would like to see how it works with a for example 2000$ account.
Currently I have a demo account with 50.000$ balance. I think tthere will be another risk with an 2000$ account - even if the lot size will be adjustet to my account balance.
If its not possible to open a 2000$ demo account I have no idea how to use the data (like the risk bar) from my 50.000$ acount to see how it works with an 2000$ account :(

beren

Member Since Aug 21, 2012  47 posts beren Apr 09 2013 at 12:30
KornBanane posted:
Hi there,

i've two questions about AutoTrade (about the Demo Account):

1. When I look at Portfolio-> My Demo Account. Where can I see in my historiy teades which signal provider makes the trades ?

2. Is there a possibility to set a initial account balance ? I would like to see how it works with a for example 2000$ account.
Currently I have a demo account with 50.000$ balance. I think tthere will be another risk with an 2000$ account - even if the lot size will be adjustet to my account balance.
If its not possible to open a 2000$ demo account I have no idea how to use the data (like the risk bar) from my 50.000$ acount to see how it works with an 2000$ account :(


Yeah, I agree with this. If/when I ever do AutoTrade on a live account, I'll probably start with a $2000-5000 balance. I'd like to be able to simulate this as closely as possible in demo mode.

scalpingforex

Member Since Apr 18, 2011  45 posts scalpingforex Apr 10 2013 at 04:24
i am not convinced if i don't see verified myfxbook real account results for at least 6 months, even my results here https://www.myfxbook.com/members/scalpingforex/client-1/518945 is not convincing yet before i see at least 6 months results.

send_me00

Member Since Apr 26, 2012  1 posts send_me00 Apr 10 2013 at 05:41
Please add the feature to manually close trades without having them reopened automatically. Instead, copy the newly opened or executed trades only. This will allow us to have control to close the trades without having to wait for the EA.

Do consider this suggestion made by a number of us here carefully and have it added soon.

skivers

Member Since Jun 25, 2010  4 posts skivers Apr 10 2013 at 18:50
send_me00 posted:
Please add the feature to manually close trades without having them reopened automatically. Instead, copy the newly opened or executed trades only. This will allow us to have control to close the trades without having to wait for the EA.

Do consider this suggestion made by a number of us here carefully and have it added soon.



Not every provider will be using an EA - some traders actually use the EA between their ears - unbelievable but true!

https://www.myfxbook.com/members/skivers/fxcm-10112423/251861

And closing of trades by clients who have no clue how to trade themselves will mean a professional provider would have 90% of their trades closed by the novice client at BE or on the first retrace of price

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!!!!
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