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Myfxbook Autotrade

CrazyTrader (CrazyTrader)
Mar 13 2013 at 12:24
1718 ieraksti
Also It could be nice to vouch a provider only if we autotrade it for a month at least and we have made profit.

Emo2010 (Emo2010)
Mar 13 2013 at 14:18
69 ieraksti
Love the new feature, thanks 😎

Don't allow yesterday's success to lull you into today's complacency, for this is the great foundation of failure.
SIM
pip2cash (pip2cash)
Mar 13 2013 at 14:55
423 ieraksti
blackopzfx (blackopzfx)
Mar 14 2013 at 07:19
7 ieraksti
CrazyTrader posted:
Also It could be nice to vouch a provider only if we autotrade it for a month at least and we have made profit.


Maybe the month limit but I've seen some providers lose 1% during news events while others did -20% or more. I'd like to vouch for a provider that protects capital like that even if my balance is negative!

CrazyTrader (CrazyTrader)
Mar 14 2013 at 15:41
1718 ieraksti
Maybe the month limit but I've seen some providers lose 1% during news events while others did -20% or more. I'd like to vouch for a provider that protects capital like that even if my balance is negative!

Well if one provider loose 20% Capital in 2 hours, it should be banned from the selection.

Aimak (Aimak)
Mar 14 2013 at 16:27
149 ieraksti
Ethan, What would happen if a provider does a partial close of a trade, will MFB Autotrade replicate the partial close or close the trade completely? Thanks.

Aimak

exquisite entries with calculated exits
Staff (Staff)
Mar 14 2013 at 17:08
1387 ieraksti
Aimak posted:
Ethan, What would happen if a provider does a partial close of a trade, will MFB Autotrade replicate the partial close or close the trade completely? Thanks.

Aimak


Partial closes aren't supported as it rewrites the comment field which we use to identify the origin of the trade. Instead, the trade will be closed in full and will be re-entered automatically at an equal or a better price, when possible (for example if the price retraces to the original entry).

fxtrading4living (fxtrading4living)
Mar 22 2013 at 09:55
32 ieraksti
We really look forward to join this program as a signal provider. It's quite surprised that ATM from all the providers we would be 4th ranked but with lowest drawdown from TOP10:-)

mook757
Mar 23 2013 at 09:32
11 ieraksti
Hi,

this is a really nice concept. Few things to add though.

I like the idea of having some restrictions for signal providers in order to protect unexperienced followers.

So the 10 pips requirement for the avg winning trade is a good thing. However you should also take into consideration the avg pips gained per trade! If the average pips gained is only in the range of 1.0-2.0 Pips it is highly likely that the follower will not make any money! Subtract your 1 pip markup and some slippage and you have a losing account.

Another thing is signal providers should not be allowed to hide closed trades, lotsizes, account size, etc. It is not possible to identify a potentially dangerous strategy without having these informations.

Another provider (https://www.myfxbook.com/members/forexwallstreet/wallstreet-forex-robot-eur33-real/372006) is using some kind of 'recovery' mode by increasing lotsizes with every trade as long as the system is in drawdown. This is also very dangerous and should not be allowed.

Also

Regards

Clopma
Mar 23 2013 at 20:32
81 ieraksti
To myfxbook:
I have noticed that the minimal allowable lot size is 0.10 lots on my $10,000 demo autotrade account. I want to be able to follow as many signals as possible. Can the minimal lot size be pegged at 0.01?

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