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Myfxbook Autotrade

ma2000
May 07 2014 at 07:15
22 posts
How is inconsitancies in lot sizes handled?

If fixed lots = 0.01 is used, it seems to open 1.0 lots XAUUSD
1.0 lots XAUUSD is actually 1000 Units on some brokers, not 1 Unit.

(1 unit XAUUSD is 0.01 lots for some brokers and 1.0 for others)

beren
May 07 2014 at 12:56
47 posts
ma2000 posted:
How is inconsitancies in lot sizes handled?

If fixed lots = 0.01 is used, it seems to open 1.0 lots XAUUSD
1.0 lots XAUUSD is actually 1000 Units on some brokers, not 1 Unit.

(1 unit XAUUSD is 0.01 lots for some brokers and 1.0 for others)


I'm not sure I understand your question, but I think maybe you're looking at the demo account and seeing XAUUSD being traded in one lot increments. I have a demo account and a live account, each with approximately the same amount of money. The last XAUUSD trade on the demo account traded 1.00 lots, and the live account (Pepperstone) traded 0.01 lots. I think the demo account just trades XAUUSD in 1.0 lot increments, but that doesn't mean your live account will do the same thing.

liberum
May 07 2014 at 13:32
10 posts
Curious to hear, are there autotrade signal providers who are maing a decent amount of commission each month?

The example calculation in the FAQ seems nice, but are there providers who are making these amounts? Even 10% of the $26.000 would be pretty good, but when all the followers accounts don't exceed $1500 it is hard to match the example calculation?

mook757
May 07 2014 at 13:45
11 posts
this calculation is very unrealistic. First nobody has ~250 subscribers. The highest number of followers is around 170 atm. Second 100 trades a month is a lot (The guy with the 170 followers e.g only did 20 trades in april). I would be surprised if any of the providers would be making more than $1.000 a month let alone $26.000 ;)

realassets1
May 07 2014 at 19:29
4 posts
I've heard that Myfxbook AutoTrade is not available for US citizens. Is this true? As a US citizen, which of the AutoTrade brokers are accepting US clients? Thanks for your response.

ProTradersGroup (ProTradersGroup)
May 08 2014 at 02:41
386 posts
realassets1 posted:
I've heard that Myfxbook AutoTrade is not available for US citizens. Is this true? As a US citizen, which of the AutoTrade brokers are accepting US clients? Thanks for your response.


There are a lot here on Myfxbook :)


BigBang Expert Advisor
bigbangea
May 08 2014 at 06:10
24 posts
realassets1 posted:
I've heard that Myfxbook AutoTrade is not available for US citizens. Is this true? As a US citizen, which of the AutoTrade brokers are accepting US clients? Thanks for your response.


not ture. We have used it from US. your leverage may be affected though.

ma2000
May 08 2014 at 08:21
22 posts

If fixed lots = 0.01 is used, it seems to open 1.0 lots XAUUSD
1.0 lots XAUUSD is actually 1000 Units on some brokers, not 1 Unit.

(1 unit XAUUSD is 0.01 lots for some brokers and 1.0 for others)

I'm not sure I understand your question, but I think maybe you're looking at the demo account and seeing XAUUSD being traded in one lot increments. I have a demo account and a live account, each with approximately the same amount of money. The last XAUUSD trade on the demo account traded 1.00 lots, and the live account (Pepperstone) traded 0.01 lots. I think the demo account just trades XAUUSD in 1.0 lot increments, but that doesn't mean your live account will do the same thing.

@beren

ma2000
May 08 2014 at 09:43
22 posts
ma2000 posted:
How is inconsitancies in lot sizes handled?

If fixed lots = 0.01 is used, it seems to open 1.0 lots XAUUSD
1.0 lots XAUUSD is actually 1000 Units on some brokers, not 1 Unit.

(1 unit XAUUSD is 0.01 lots for some brokers and 1.0 for others)


I'm not sure I understand your question, but I think maybe you're looking at the demo account and seeing XAUUSD being traded in one lot increments. I have a demo account and a live account, each with approximately the same amount of money. The last XAUUSD trade on the demo account traded 1.00 lots, and the live account (Pepperstone) traded 0.01 lots. I think the demo account just trades XAUUSD in 1.0 lot increments, but that doesn't mean your live account will do the same thing.


@beren Thx for your response. It seems weird that the demo account would trade 1.0 Lots when clearly 0.01 lots is specified.
If this happens on a live account it would multiply the risk by x1000. Can someone on Myfxbook clarify this issue. Thx


realassets1
May 08 2014 at 12:16
4 posts
Thanks for all the answers to my questions guys. Unfortunately, a US citizen indeed CANNOT use AutoTrade to trade forex. Here is the answer from Myfxbook support 😞

'Due to regulatory restrictions in your country, unfortunately we cannot accept you as a client for AutoTrade (we plan to support US clients in the future).'


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