Live autotrade account - good idea? Which signal provider?
Nov 06, 2013 at 07:04
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5 Replies
Nov 06, 2013 at 07:04
Hi all,
I am thinking about try a myfxbook autotrade account.
One of the available autotrade systems is the WallStreet Forex Robot EUR33+GBP30 REAL.
I like the drawdown of only 8.88%
I wonder if the autotrade system can be trusted and if I can expect the same positive results with a live account?
On the forum people mention that choosing the right signal provider is also very important to obtain good live results.
Currently the possible auto trade providers at myfxbook are:
IC Markets
FXCM
Armada Markets
ThinkForex
AxiTrader
IamFX
PepperStone
Does anyone have good/bad experience with the autotrade system in combination of one of these providers?
Thanks,
Joris
I am thinking about try a myfxbook autotrade account.
One of the available autotrade systems is the WallStreet Forex Robot EUR33+GBP30 REAL.
I like the drawdown of only 8.88%
I wonder if the autotrade system can be trusted and if I can expect the same positive results with a live account?
On the forum people mention that choosing the right signal provider is also very important to obtain good live results.
Currently the possible auto trade providers at myfxbook are:
IC Markets
FXCM
Armada Markets
ThinkForex
AxiTrader
IamFX
PepperStone
Does anyone have good/bad experience with the autotrade system in combination of one of these providers?
Thanks,
Joris
forex_trader_28220
Member Since Jan 29, 2011
1 posts
Nov 06, 2013 at 13:23
I have tried autotrading with Pepperstone and Admiral Markets, but not through myfxbook yet. It worked flawlessly with my MT4 signals via the Trading Signals and Social Trading for MetaTrader web site.
I have gained a profit during this week, but am now disabling that autotrade due to the upcoming NFP news. You have to manage the signal as well as your own trades!! The trick is to pick the right subscription in any case and to ensure that money management is in place. You don't want some other trader blowing your account...
Cheers
Rune
I have gained a profit during this week, but am now disabling that autotrade due to the upcoming NFP news. You have to manage the signal as well as your own trades!! The trick is to pick the right subscription in any case and to ensure that money management is in place. You don't want some other trader blowing your account...
Cheers
Rune
Member Since Apr 21, 2013
101 posts
Nov 06, 2013 at 15:49
The system you pick depends on 2 things are you based in america, where hedging is banned and you have to deal with FIFO rules and low leverage and is the system you want to copy using these functions as part of its trading strategy because if that's the case you could blow your account or not have the same results they are posting because your account cant follow all the trades correctly.
we are american based so our system follows tighter rules then most systems on myfxbook but the trad accuracy is still excellent. and its a HFT system.
Good Luck in your choices hope the above helped!
we are american based so our system follows tighter rules then most systems on myfxbook but the trad accuracy is still excellent. and its a HFT system.
Good Luck in your choices hope the above helped!
Nov 12, 2013 at 13:53
Hmmmmm??? guessing Live Results are a little discouraging.???. As far as 'demo' trade acc. results... only active for 3 months..... -6%...on 50,000 USA 50-1 FIFO. I Have tried several Top-Gaining systems and must just have a nack for picking when acc. is going to draw-down... Believe that above '@Forex Alert System' is correct in that US acc.s cant hedge and must fifo all trades while using only 50-1...Hey at least the contests are allowing USA to have 500-1 (blew my acc. n record time ;-o) in fairness i Must also admit that i tried applying several systems at same time for the first 40 days or so.... that did me no favors.. only one or two active at any time now and seems to b helping a bit. ALSO- Watch the multipliers feature if you do trade n 50-1 acc. .01 to start with,,then you may get a good idea of the leverage the mirror acc. is applying. i was hoping to b able to follow opposing styled acc,s and balance out a portfolio some with a few gaining more @ trend and others in range bound times.......ill keep trying and post results at 6-12 months. Good Luck...
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