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Myfxbook Autotrade

AutoFxPower
Jul 06 2017 at 12:25
3 posts
Do you know how can i contact with a AutoTrade account owner?

spereira
Jul 06 2017 at 12:27
16 posts
I'm now starting to analyse carefully the comparison between signal provider and the real results and the differences are sometimes huge.
I think this explains, in part, the miserable performance I have been having in the last months since I have started.

I show one example attached. This is particularly interesting because the provider seems to be working in ICMarkets and I aslo have account in ICmarkets. so was not expecting the difference to be so wild. as you can see sometimes difference is about 7 pips!!

Curiously my account in Intertrader is performing better with this provider, although I suppose the signal provider is trading in ICmarkets. For my account in Axitrader half of the trades are simply missed. so results are even worse.

Each broker has its problems and it is really hard to decide what are the best ones. For instance Intertrader does not seem to copy any XAUUSD signals, so it is pointeless to have any gold

I was optimistic about this autotrade. The concept is quite interesting. The control over your account is good and you can change parameters. You don't need to have VPS or keep your MT4 on. However practical results so far are indeed very poor and really disappointing.

I'm starting to get convinced that it does not allow you to make any money since errors, slippage, bad spreads will be always against you on the long term.

However I would reaaly like to see some positive feedback from any trader that has being using this for the long run, at least 6 months. are you guys making any decent profit? what did you realize was making you loose money? how did you solve this?

Basically I'm seeing most of the signal providers accounts going up or sideways whereas my account keeps going down..



Attachments:


DPFI
Jul 06 2017 at 21:16
5 posts
Spereira,

According to your attached screenshot you are up 328(pounds?) with NightProfit ICmarkets. Not too bad!

I have 50 trades in my history with this trader. The average slippage over that sample is 2.6 pips. You can copy/paste slippage data from your browser window to excel quickly to check. (This was also with the same broker - IC markets)
That average includes 3 or 4 outliers of -10+ pips. For some reason GBPAUD/GBPCAD pairs have bad slippage in the odd hours that this trader places trades. Without the few outliers the slippage average was more like 1.7 pips.
  
My average slippage over all history of all traders I copy is 1.45 pips.(forex pairs only - metals/indices trades excluded) Which is mostly the spread difference which pays the traders(and site) we copy I assume.

I'm curious about the other brokers you copy with. e.g. Intertrader which seems to have tight spreads.
If you check average slippage over a wide sample please share the results.


rob559
Jul 07 2017 at 05:29
1916 posts
the difference must be mostly du to slippage

spereira
Jul 09 2017 at 07:31
16 posts
DPFI posted:
Spereira,

According to your attached screenshot you are up 328(pounds?) with NightProfit ICmarkets. Not too bad!

I have 50 trades in my history with this trader. The average slippage over that sample is 2.6 pips. You can copy/paste slippage data from your browser window to excel quickly to check. (This was also with the same broker - IC markets)
That average includes 3 or 4 outliers of -10+ pips. For some reason GBPAUD/GBPCAD pairs have bad slippage in the odd hours that this trader places trades. Without the few outliers the slippage average was more like 1.7 pips.
  
My average slippage over all history of all traders I copy is 1.45 pips.(forex pairs only - metals/indices trades excluded) Which is mostly the spread difference which pays the traders(and site) we copy I assume.

I'm curious about the other brokers you copy with. e.g. Intertrader which seems to have tight spreads.
If you check average slippage over a wide sample please share the results.


Hi you are looking at the right image, i.e. data of the signal provider. The data I get is on the left.
I will share once I have done that work.


dmaggio
Jul 10 2017 at 14:48
23 posts
Anyone know why Asia's drawdown is listed at only 22%? I followed him briefly on my real account with a 0.3 lot multiplier and it caused a 34% drawdown on 6/14. If it wasn't for him depositing an extra $400 he would have busted. I got out with a -25% loss.

Everyone should be careful with this guy. He's doing good now, but when things go south, he causes a significant risk to lose your account. Most worrisome though is that his myfxbook stats are clearly wrong! Any admin care to comment on this? You can clearly see it on his graph too- he went from +135% to +45% (with only a 22% drawdown lol).

milktm (milktm)
Jul 11 2017 at 06:11
24 posts
There seems to have some problem with the drawdown calculation. My stats on myfxbook also having very very low drawdown as compared to last week. Not sure what happened.

What you do today determine what you become tomorrow
Koosqwerty (Koosqwerty)
Jul 11 2017 at 06:16
18 posts
dmaggio posted:
Anyone know why Asia's drawdown is listed at only 22%? I followed him briefly on my real account with a 0.3 lot multiplier and it caused a 34% drawdown on 6/14. If it wasn't for him depositing an extra $400 he would have busted. I got out with a -25% loss.

Everyone should be careful with this guy. He's doing good now, but when things go south, he causes a significant risk to lose your account. Most worrisome though is that his myfxbook stats are clearly wrong! Any admin care to comment on this? You can clearly see it on his graph too- he went from +135% to +45% (with only a 22% drawdown lol).


It is because the stats do not measure OPEN drawdown - I honestly think this is a MAJOR flaw.

Koosqwerty (Koosqwerty)
Jul 11 2017 at 06:16
18 posts
dmaggio posted:
Anyone know why Asia's drawdown is listed at only 22%? I followed him briefly on my real account with a 0.3 lot multiplier and it caused a 34% drawdown on 6/14. If it wasn't for him depositing an extra $400 he would have busted. I got out with a -25% loss.



A trader with an account size of $1000 could essentially place a trade and it could go all the way down to only $5 equity in the account before it reverses - if the trader then closes the trade for a $200 loss, it would show as 20% drawdown and not the fact that it was essentially 99% drawn down. This is exactly what happened with Asia. I made massive losses myself.

spereira
Jul 11 2017 at 06:26
16 posts
I also don't understand the definition of drawdown used....I was also following this guy and the losses were certainly higher

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