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Myfxbook Autotrade

Nov 18 2013 at 16:13
10 posts
@Staff: From the FAQ, 'Return of at least 10% and higher than drawdown'

Are we talking a Gain or Absolute Gain of 10% higher than the drawdown? This are 2 different numbers in most accounts.

Nov 18 2013 at 16:14
10 posts
Don't want to spoil the party for Bataviafx Management, but I thought the max. DD for Autotrade Providers was 50% yet the no. 1 ranking provider has a DD of 51.75 (at this time of posting).

How is this possible?

Nov 18 2013 at 21:35
795 posts
I think they may have a bit of flex on averaging.... I saw that also.

Click on my Name to see My Live Charts and Bio.
Nov 19 2013 at 07:45
16 posts
@Developer team

I don't like the new lookout of the graph in the autotrade simulator : when we fly over the graph, the best view for me is to have the vertical bar following the mouse and showing simultanously the date at the bottom and circle each system point on its curve with the percentage at that date.

Since this week-end you changed that for a no date show, only one price at a time. At least please give me more choice on this graph.

The best would be the vertical bar and let me choose with tick boxes the systems drawn on the graph.

Maybe it can be possible to have the old view with a simple button in the corner ?

Thanks !

Nov 19 2013 at 19:52
9 posts
russ posted:
I just found this thread Ethan. I emailed you regarding the 'wood' AutoTrade system being closed (thank-you for your reply). It is still closed (I thought it was open again but it is just open to be followed, not traded).
I don't understand your reasoning for removing it. The risk was too high was your reasoning but the risk is managed by the client, not the trader. The amount risked, as I understand the AutoTrader, can be 1:1 with the trader but can be reduced to as little as 10% of the traders risk. I assume some of the brokers which are available to be used have Micro accounts available so this risk can be managed very easily. What have I gotten wrong here?
The concern I have over the closed trades is that the system is designed to close the trades and if they are closed manually (as I assume you did when you withdrew the system from AutoTrade) this introduces risk into the system. There will be losses where there would have been gains and reduced gains also. So losses and opportunity costs. I am looking at a couple of other systems in AutoTrade which I am and am about to demo, but if there is this risk of un-systematic trading likely to happen, I am not sure I am confident to bother. Can you please give me an explanation of these two points?
I was quite excited about the AutoTrade, but now, if it is likely that the systems can be altered, they are no longer systems which I have demoed.
Thanks Ethan

Hi Eathen,

I'm also concern about system removal from AutoTrade, when you remove a system, all open trades will be closed, I've lost many trades(real money) due to system removal. Don't you supposed to review the system carefully before putting them as signal provider. & not suddenly remove them after they have live followers especially when they have active positions!? This makes me wonder when Autotrade will remove next system & cost unnecessary lost again!

IMHO, don't remove a system suddenly, you can notify us by email when you detect a change of trading behavior of an SP(signal provider/system) & let us decide to remove them from our subscribed system or pause them or reduce the risk multiplier.

& please answer Mr. Russ questions.


Nov 19 2013 at 19:52
9 posts
Oh, sorry misspelled Ethan name & my bad English in my earlier post. SORRY😳😳

Nov 19 2013 at 19:53
9 posts
Under Autotrade FAQ > AutoTrade provider

System must not use any martingale/grid techniques.

Bataviafx Management Reviews:

Wrote: If a position gets into the red and reaches a certain level (we are talking of -200 pips, fellow traders), then the trader opens another one in the same direction but with an increased trade contract size.

Isn't it characteristics of grid & martingale techniques in Bataviafx Management?

Nov 19 2013 at 19:53
9 posts
Under Autotrade FAQ > What is the fee for using AutoTrade?
Ans>> It depends on the account - with some brokers it is completely free while with others there is a small markup spread (this is due to difference in spreads).

Question: May I know which broker is completely free?


Nov 19 2013 at 20:01
47 posts
There's a long list of providers that come onto AutoTrade strong, flared out immediately, and then are pulled. Almost of all of these are pulled within the first month.

I've personally decided I'm not going to add a system to my live AutoTrade account until I've seen forward performance for at least 3 months in a demo account. I pretty much ignore it for the first month, because I know that most of the ones that look good when they are added have peaked and will never perform like that again. If you're chasing a quick $, you'll be adding these new and unproven systems to your live account, only to be disappointed again and again as they fail to perform as they have. You will lose money.

In my opinion, Myfxbook should start prospective AutoTrade systems in a 'proving' mode for the first month after they are added. Systems would need to perform within a statistically similar manner to their past performance for that month before they are added to the roster of live AutoTrade providers. This would weed out many of the dishonest or just plain poor providers as their systems would not pass the forward test. In this mode, the systems could either only be public to Myfxbook administrators, or they could be available only to demo accounts.

Nov 20 2013 at 01:31
6 posts
thanks for your follow up samalphard, you have put the question much better than I, and your notification idea is excellent. With notification, traders can at least turn off the AutoTrade and manage open trades manually (not ideal without a knowlege of the system exits) and not open new trades.
Great post beren. I would like to trade on a micro also, or instead of demo.
Ethan, your AutoTrade is an excellent idea and has a lot to offer. Thanks for getting it happening.

test back, look forward
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