Myfxbook Autotrade

elsa85 posted:
thank you snowy, I know these difference. But I would like understand how much can be the difference about my demo account of 270%? can I gain 100% at least?

That depends also on the provider which you are copying. For example, with an asian session scalper the copy could completely fail, even when the demo made 270%. But with a 'normal' trading style it could come close to the demo numbers. Not easy to say, only experience will tell. You'll have to try.

I also don't have a clue, how good this is working, so I started a live account yesterday to try it out. Time will tell. :)

snowy posted:

elsa85 posted:
thank you snowy, I know these difference. But I would like understand how much can be the difference about my demo account of 270%? can I gain 100% at least?

That depends also on the provider which you are copying. For example, with an asian session scalper the copy could completely fail, even when the demo made 270%. But with a 'normal' trading style it could come close to the demo numbers. Not easy to say, only experience will tell. You'll have to try.

I also don't have a clue, how good this is working, so I started a live account yesterday to try it out. Time will tell. :)

Watch the stat average trade pip profit. If this number is high your profit should be similar on demo and real.
If it is too low the demo could have much better results than real.

My experience with real autotrade was somewhat positive because of the increased latency. With the demo we could say the trades are instant, but with real account an extra latency seems affecting the trades from Myfxbook server and the server with the real account. For instance my provider was Pepeperstone that has servers in NY and I invested in LuckyPound that uses AlpariRU. In all, with the increased latency and spread some of the trades will be negative in your real account and those positive will have a lower profit. So you cannot expect the same profit as shown in your demo autotrade.

I suppose that Myfxbook have their servers in UK or Ireland. Next time I will choose a forex provider with servers in UK or geographically close. I think it is also important choosing signal providers whose servers are also close to your real account's server.

I would like to see in Myfxbook the ping values between different servers and signal providers like Metaquotes do.

Aimak posted:
My experience with real autotrade was somewhat positive because of the increased latency. With the demo we could say the trades are instant, but with real account an extra latency seems affecting the trades from Myfxbook server and the server with the real account. For instance my provider was Pepeperstone that has servers in NY and I invested in LuckyPound that uses AlpariRU. In all, with the increased latency and spread some of the trades will be negative in your real account and those positive will have a lower profit. So you cannot expect the same profit as shown in your demo autotrade.

I suppose that Myfxbook have their servers in UK or Ireland. Next time I will choose a forex provider with servers in UK or geographically close. I think it is also important choosing signal providers whose servers are also close to your real account's server.

I would like to see in Myfxbook the ping values between different servers and signal providers like Metaquotes do.

Well you should add that latency is not always negative.
Latency is just delay when you open/close trade.
During the delay price move somewhere else.
It could be positive as well as negative move. So at the end the impact should be minimal as sometimes you gain on latency sometimes you loose.

togr posted:
Well you should add that latency is not always negative.
Latency is just delay when you open/close trade.
During the delay price move somewhere else.
It could be positive as well as negative move. So at the end the impact should be minimal as sometimes you gain on latency sometimes you loose.

Yes, you are correct. However I did not see that happening often.

snowy posted:

elsa85 posted:
thank you snowy, I know these difference. But I would like understand how much can be the difference about my demo account of 270%? can I gain 100% at least?

That depends also on the provider which you are copying. For example, with an asian session scalper the copy could completely fail, even when the demo made 270%. But with a 'normal' trading style it could come close to the demo numbers. Not easy to say, only experience will tell. You'll have to try.

I also don't have a clue, how good this is working, so I started a live account yesterday to try it out. Time will tell. :)

Hi Snowy,

Requesting you to please connect your account with myfxbook and share ur account publically.

ForexMechanism posted:
Hi Snowy,

Requesting you to please connect your account with myfxbook and share ur account publically.

Not sure, if this violates some myfxbook rules or whatsoever?

ok, thank you guys. I will start with real account in january, like snowy said, only time will tell. but I chose gmfx, new zeland broker, but from what I read I should chose a european broker, for better latency right? Fxcm, in england, is a good broker? or can you tell me some advice?

ForexMechanism posted:
Hi Snowy,

Requesting you to please connect your account with myfxbook and share ur account publically.

Done.

I also opened an Autotrade Demo account at the same time to verify the results between the original provider-accounts, myfxbook autotrade-demo and the trades on my real account. For that I built a little database and process the data of all the accounts from time to time to make an easy comparison.

It's only 1.5 days for now, but what i can say so far: the trades on the demo are even better than the ones on the original real accounts of the signal providers. ;)

Providers: 125.4 pips
Demo: 133.3 pips
Live: 113,8 pips

Hi Snowy ,

thanks for sharing ....you should start selling your signals ...lol ....

elsa85 posted:
ok, thank you guys. I will start with real account in january, like snowy said, only time will tell. but I chose gmfx, new zeland broker, but from what I read I should chose a european broker, for better latency right? Fxcm, in england, is a good broker? or can you tell me some advice?

Hi elsa85 Merry Christmas to all ......GMT +0 Broker Server Location for Best AutoTrade result.BTW elsa85 checkout these 3 Autotrade Provider i am testing with Autotrade Demo still need more month to test this service. :)

https://www.myfxbook.com/members/syeikhman/syeikhman/1743779

^ You can't rely on Demo Accounts, they give you an idea of what's possible without slippage or ridiculous spread increases that we're seeing in some brokers. You gotta get your feet wet with a live account, some signals work well, scalpers will bleed your account dry. You have to experiment and do proper analysis to see what works and what doesn't.

It would be good if we had a definitive list of brokers who execute the signal trades the fastest from the myfxbook server though.

fortress posted:
^ You can't rely on Demo Accounts, they give you an idea of what's possible without slippage or ridiculous spread increases that we're seeing in some brokers. You gotta get your feet wet with a live account, some signals work well, scalpers will bleed your account dry. You have to experiment and do proper analysis to see what works and what doesn't.

It would be good if we had a definitive list of brokers who execute the signal trades the fastest from the myfxbook server though.

Good intervention!

snowy posted:

ForexMechanism posted:
Hi Snowy,

Requesting you to please connect your account with myfxbook and share ur account publically.

Done.

Providers: 125.4 pips
Demo: 133.3 pips
Live: 113,8 pips

Thankyou Snowy for this valuable info. I plan to start exactly the same way you have trading Auto trader live but will 'Incubate' by systems for a full year before injecting real money in them.

BTW.. as some one mentioned...you really should start your own auto trading system :P

fortress posted:
^ You can't rely on Demo Accounts... scalpers will bleed your account dry. You have to experiment and do proper analysis to see what works and what doesn't.

I thought Auto trader does not allow scalping systems in. Although, I do see a number of 5-6 pip profits on my demo account which I am sure will turn out negative in a real account...

I indeed aplied my acc as Autotrade provider, but it was disapproved by Myfxbook. Reason: adding too many times to existing positions.
While other accounts, which are clearly asian session scalper, without sl/tp and an average pip expectancy below the required minimum, are approved recently: https://www.myfxbook.com/members/autotrade/premium-trading-bb/1771823. THAT thing will never work on subscriber accounts. Everything a bit dubious...

This true....my fx book says it does not allow grid strategy or scalping..yet a demo account of mine shows returns of 1 to 2 pips for 10 + trades and all entry positions of a certain trader show a few pips above and below market price :)

Need to tread the waters carefully before diving in with real money...

hello guys

i am going to open a live account with autotrade with $1000. i have being testing with a demo account and result was good so far. this is my demo account
https://www.myfxbook.com/members/kochear1/demo-1/1738309

so my question is if i open a real account with $1000 can i see result like this? i'm not expecting same results but 5-10% monthly gain is enough for me
what is the best broker for auto trader?

Hi Kochear1,

The pip expectancy in your system is 3.8 Pips / $0.37. You can decrease it to 2.8 pips roughly.

Which signal providers u have subscribed in your system ?