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Myfxbook Autotrade

MrPatient (MrPatient)
Dec 20 2013 at 05:01
20 posts
@beren

Agreed, I would like to see a forum like this to discuss the pros and cons of each trade system and everyone else's experiences.
I think even for experienced Forex traders, picking winning signal providers can be daunting as it requires a very different skill set.

A dedicated forum could provide both Myfxbook newcomers and experienced traders with a fresh look a the wealth of information that Myfxbook provides on each signal providers strategies, from a fellow trader who has 'been there, done that'.

Hopefully more Forex traders will not only be able to find a good system, but that something that they feel comfortable with, without all the personal trial and error @bejeve. Not that that's a bad thing neccessarily, but the more new traders we can get running straight off the bat, the better the website will work, (as well as their account balances!)

@Staff, so lets get a forum setup stat! 😄

Patience, above all else.
ma2000
Dec 21 2013 at 21:22
22 posts
There is an initial requirement of $1000 to Autotrade.

What happens if the 'equity' dips below $1000 due to autotrading on the account.
Thanks.

fedromfr
Dec 23 2013 at 13:58
28 posts
bejeve posted:
I am trading MyFxBook AutoTrader with real money. I think it is an absolutely brilliant concept and I love how configurable it is. I have only traded it now for a week and a few days but am in a small amount of profit (even when excluding the lucky rogue trade above). I think about 8 or 9% profit excluding the 11.8% rogue trade above. I have set it up as fairly high risk and it is performing a little bit below my expectations from the simulation, but having said that, the profit level jumps around a lot so it is still too early to say whether it will work for me in the medium term or whether I have just had a lucky start. I am optimistic about it overall.

With regard to failing strategies, I am using 7, and I think 2 have good profits, 2 have minor profits and 3 have minor losses. I kicked out one strategy very quickly (after about a day) because what it was doing spooked me and looked wrong. One other strategy trades a lot and has very small profits per trade and then big losses occasionally. I think it might get kicked as well, because I prefer strategies that can let profits run and cut losses quickly (i.e. average profit trade value should be bigger than average losing trade value).

I will monitor performance and will tweak settings over time towards strategies that are more stable and profitable and predictable. It is already very clear in my 7 - that one of them is performing very well and trading in a manner whereby I have much respect for whoever is behind it. I can already tell that there is a very good trader or algorithm behind it. What it does is: one trade at a time, usually makes quite a nice, not too big and not too small profit in a small amount of time. Then it waits for the next setup. Does not trade frequently but when it trades, it does well. This is exactly what I want from an AutoTrade strategy.


Words of a wise man!
Thank you!

Lets keep in touch and discuss AutoTrade setups and strategies either here or in a specially dedicated forum branch. It would also be nice if there was a link on the AutoTrade strategy home page, leading to a discussion forum, dedicated to that strategy.

 

ma2000
Dec 24 2013 at 09:50
22 posts
@Staff There is an initial requirement of $1000 to Autotrade.

What happens if the 'equity' dips below $1000 due to autotrading on the account.
Thanks.

Staff (Staff)
Dec 24 2013 at 11:24
1389 posts
ma2000 posted:
@Staff There is an initial requirement of $1000 to Autotrade.

What happens if the 'equity' dips below $1000 due to autotrading on the account.
Thanks.


The lower the balance will get, the more risk will be taken with each position (relative to your account size vs the provider) as the trade size cannot be broken to smaller pieces than 0.01 lots - this will increase the chance of running out of margin and finally getting a margin call.
Use the 'Minimal Balance' field to know exactly how much balance you need to get accurate risk ratio when a trade is copied.

Simonevet2013
Dec 27 2013 at 22:50
4 posts
Hello everybody,
What do you think about Axitrader?
He is doing very well during this period,
Thanks for your comments,
Simone
Rome Italy

ma2000
Jan 02 2014 at 09:28
22 posts
@staff When the 'Max allowed open trades and orders' option is selected, once a 'copied' trade is closed, on what basis does it select the next trade from open 'uncopied' trades. Thanks.

ma2000
Jan 02 2014 at 21:57
22 posts
@Staff When the 'Max allowed open trades and orders' option is selected, once a 'copied' trade is closed, on what basis does it select the next trade from open 'uncopied' trades. Thanks.

bejeve (bejeve)
Jan 03 2014 at 12:55
4 posts
Simonevet2013 posted:
Hello everybody,
What do you think about Axitrader?
He is doing very well during this period,
Thanks for your comments,
Simone
Rome Italy


If I met him I would say "You can be my wingman anytime".

8888
Jan 03 2014 at 13:32
19 posts
Hello Ethan,

First of all, I wish you a Happy New Year 2014!

Three questions to make this new year a profitable year to every Myfxbook AutoTraders:

1 - Can I use Myfxbook AutoTrade in conjunction with a Rebate Program as displayed in your Myfxbook page: https://www.myfxbook.com/reviews/rebate-programs/17,1 ?

2 - Will the Myfxbook AutoTrade Simlulator results include your Myfxbook AutoTrade 1 Pip fee as specified in your post in the page 1 of this thread?

Ref:

Staff posted:
ZuluTrade have between 1.5-2 pips markup with most brokers (depending on the broker) while we have only 1 pip markup which is 33%-50% off..


3 - Could you add to Myfxbook AutoTrade Simlulator a scrollable list of brokers including their *****average spreads***** and swap in the simulator results to help us to find the best broker for our selected systems?

Myfxbook spread page:

https://www.myfxbook.com/forex-broker-spreads

Myfxbook SWAP page:

https://www.myfxbook.com/forex-broker-swaps

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