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Myfxbook Autotrade

Nick Walker (svtnick)
May 09 2013 at 20:30
1 ieraksti
Ethan- Id like to provide my system for Autotrade use, but I really dont care for MT4. I trade thru Oanda..will there be any alternatives to allow you to use me as your signal provider. Or should I switch to MT4 thru Oanda..

THANKS

nick
Trade the trend. Trade whats in front of you.
Bistro 2000 im Kudamm Karree (bistro)
May 10 2013 at 10:23
20 ieraksti
Hi there,

Can we have some AutoTrade Widgets ?

You know, like what you see when you

Click AutoTrade -> (Wait for Data) -> Click Manage -> (Wait for Data) > Live: Equity / Balance / Floating PL / Open Orders / Open Trades

cheers
Die Berliner Bierstube
Harold
harold
May 14 2013 at 06:24
1 ieraksti
How would providers get paid?
beren
May 14 2013 at 06:26
47 ieraksti
Maybe someone can help me understand AutoTrade better. I can't see any relation between the Multiplier I set and the number of lots AutoTrade opens for me. I've gone through and pulled out probably 15 examples from the last few days, and here's one of them. I'm trading this system at a 0.5 multiplier

WallStreet Forex Robot EUR33+GBP30 REAL
GBPUSD Sell

Their trade:
Balance: ~$1,700
Lots: 0.121
Pips: 14.2
Profit: $16.83
Percentage: 1.00%

My trade:
Balance: $46,000
Lots: 0.41
Pips: 12.3
Profit: $50.43
Percentage: 0.11%

According to what I'd have expected, here's how the lots should have been calculated:

(their lots) * (multiplier) * (my balance) / (their balance) = (my lots)
0.121 * 0.5 * 46000 / 1700 = 1.6 lots (approx)

So, if I 'should' have been trading 1.6 lots, why did I really only trade 0.41 lots?
petays
May 14 2013 at 06:32
86 ieraksti
harold posted:
How would providers get paid?

I think same way as for example ZuluTrade does.
Being Bearish or Bullish Makes No Difference
petays
May 14 2013 at 06:40
86 ieraksti
beren posted:
According to what I'd have expected, here's how the lots should have been calculated:

(their lots) * (multiplier) * (my balance) / (their balance) = (my lots)
0.121 * 0.5 * 46000 / 1700 = 1.6 lots (approx)

So, if I 'should' have been trading 1.6 lots, why did I really only trade 0.41 lots?

You should take into account your leverage and their leverage (ratio).
I'm following three systems and when their leverage is less than mine I can do the math correctly. I believe.
My multiplier seems to produce correct lot sizes for those two providers.
But when their leverage is larger like 'WallStreet Forex Robot EUR33+GBP30 REAL' has 1:500 compared to my 1:200 my formula does not work :-(

This is really annoying because you have no way to to know before hand what lot sizes certain auto trade system will be using.
Some uses fixed lot sizes but others use different money and risk management schemes that are not documented anywhere.
Being Bearish or Bullish Makes No Difference
beren
May 14 2013 at 19:03
47 ieraksti
petays posted:
You should take into account your leverage and their leverage (ratio).
I'm following three systems and when their leverage is less than mine I can do the math correctly. I believe.
My multiplier seems to produce correct lot sizes for those two providers.
But when their leverage is larger like 'WallStreet Forex Robot EUR33+GBP30 REAL' has 1:500 compared to my 1:200 my formula does not work :-(

This is really annoying because you have no way to to know before hand what lot sizes certain auto trade system will be using.
Some uses fixed lot sizes but others use different money and risk management schemes that are not documented anywhere.

Thanks, I'd forgotten about leverage, which is mentioned on the page where you choose the multiplier. However, that still doesn't change the fact that, as you say, the numbers don't match up. I checked 7 trades over 4 providers, and my actual lot size ranged from 5.8-220% what I calculated they 'should' be.

Systems can do all sorts of things to calculate size, like checking exposure to a particular currency or pair over the account, number of trades open, etc. If you have 10 trades open with other providers, this might affect the lot sizes of the trade you're about to open. However, I'm still not sure that accounts for the large variations I'm seeing.

I wish there was more interaction with the Myfxbook team on issues like this, and more documentation about how all this works in the background. Before I put real money down on a project like this, I need to have solid answers and feel confident that the calculations are predictable and correct.
k789k
May 30 2013 at 05:55
3 ieraksti
The system is keeping on Loading Data. How can this process be stopped?Thank you!
drgoodvibe
May 30 2013 at 16:53
22 ieraksti
I'm using OANDA as my broker and it is an MT4 account however Autotrade says that this particular account is ineligible because it's not MT4?
Get up, dust yourself off.. and ride!
pierpa
May 30 2013 at 18:04
15 ieraksti
there are too many issues with autotrade to start with real money.

it was a good idea, but demo has too many limitations. so i don't think to go real.

1) not adjustable equity to test: i haven't 50k when i will go real, and i want to see how my real account will perform with my hypothetical equity
2) as said, not adjustable leverage. maybe i don't want 200x because i am in usa...
3) myfxbook is failing in updating statistics of my autotrade demo account! it is as old as one week. it is so: myfxbook fails to do its typical wonderful job within its own accounts.
4) i mixed 5 systems, but i can't understand who did what. i would like to check who trades better
5) as said, lot sizes of trades are unpredictable
6) i don't like the 'risk' limit. even in my hypothtical real account, i want the drawdown sum to be higher than 100% since i would use more than 5 system, and i want to be free to try masochistically to have the wrong idea that all 5 systems cannot reach the maximal drawdown at same time

for now it is enough

cheerio
pierpa
May 30 2013 at 18:05
15 ieraksti
@beren : did you check if the formula works with equity instead of balance?
beren
May 30 2013 at 19:06
47 ieraksti
pierpa posted:
2) as said, not adjustable leverage. maybe i don't want 200x because i am in usa...

Although your demo account says 1:200 leverage, AutoTrade is actually only trading 1:50. I don't think this is documented anywhere.

pierpa posted:
@beren : did you check if the formula works with equity instead of balance?

My balance and equity numbers are close enough that I didn't bother calculating this. That alone couldn't cause the differences I've seen.

The Myfxbook team has made some changes to lot size calculations in response to some of the issues I've posted. That's good news. My Autotrade demo account is days behind in updating too, but I assume that's do do with the ongoing issues with MetaQuotes so I'm giving that some time to shake itself out. Oh, mine just updated 4 minutes ago. What do you know.
mosephus
May 31 2013 at 15:05
1 ieraksti
hi,

really like the smooth handling of the auto trade tool, but there are 2 big questions that came up which could not be solved by the FAQ/help section.

1. if open trades are hidden by the provider, are open trades which are in a loss for now but still open included in the providers performance/equity or are only closed gains/loses recognized, if they are hidden by the provider?

I think little more information should be provided once you go live and subscribe to a provider, if not full clearance of open trades or at least on their number of open trades and their influence on margin/equity or if they are in a gain or lose. otherwise a portfolio can be pimped up easily for some time by leaving small losing trades open
until they are closed

2. The information on 'How a lot size is calculated?' in the auto trade help section is not clear to me at all. i think the function might scew on risk adjustment(multiplyer and hypotheticals):

The function says: follower_trade_size = leverage_ratio X balance_ratio X account_currency_ratio

 -'500 pips a month' for example has hidden their info on leverage, so leverage_ratio will be unknown and therefore follower_trade_size cant be calculated by the follower, so that i would have to check their trade history after a followed trade is closed in order to then solve the function anyways...

- if leverage_ratio would be equal in both systems and the provider has more balance ( for example twice as much balance) so that balance_ratio = 0.5 then all hypothetical risks are scewed when the provider trades many micro lots because the follower cant trade 0,5x of a micro lot leaving him with a doubled risk ratio on these trades... ( '500 pips a month' is one of the providers with many micro trades)

-cant follow the logic behind leverage_ratio in order to fit trade_sizes. one example if balance ratio now equals one with only half leverage for the provider (leverage_ratio=2) then trade_size= 2x provider lot size, which will even the margin risk for both accounts but in return DOUBLE the P/L risk of the followers trade. To me this function only evens margin requirements but acts like a 2x multiplier on the provider trades.


I hope i didnt misunderstand all the risk calculations but some more information on this topic is really helpful for followers since the provider portfolios only show realized gains/loses but almost nothing about unrealized risk if open trades are hidden(i think only the equity information under 'info stats' is useful to so the providers current equity and therefore losing or winning trades)

does anybody know more about risk calculation with the auto trade tool? i have a feeling that the hypotheticals are scewed as soon as leverage or balance is different from the provider portfolio...
forex_trader_[3734]
Jun 04 2013 at 16:13
33 ieraksti
My account is autotrade provider and it is no more updating. How can I solve this?
forex_trader_[3734]
Jun 04 2013 at 16:19
33 ieraksti
Now I'm updating with the EA, but I don't think this should be the correct way of updating for provider accounts.
tleetabor
Jun 05 2013 at 12:43
5 ieraksti
Ditto for me. I haven't seen a move in balance or equity in I think 4 days...

jagui posted:
My account is autotrade provider and it is no more updating. How can I solve this?
tleetabor
Jun 05 2013 at 12:44
5 ieraksti
I just checked... It's actually been 7 days since the last change in either balance, equity, trades, or history.

jagui posted:
Now I'm updating with the EA, but I don't think this should be the correct way of updating for provider accounts.
Ethan (Staff)
Jun 05 2013 at 12:45
1401 ieraksti
The portfolio update issue will be resolved in a few minutes - I apologize for the inconvenience.
Ethan (Staff)
Jun 05 2013 at 14:44
1401 ieraksti
beren
Jun 05 2013 at 21:47
47 ieraksti
Staff posted:
Fixed.

Hi Ethan. I've been keeping quiet about all the problems I've been having as I assumed you guys are well aware of them. Now that you've said this one issue at least is fixed, I figured I should mention that nothing seems 'fixed' to me.

First, when I go to https://www.myfxbook.com/autotrade, I just get 'Please wait while we're loading live data...'. It's been like this since last week every time I've tried. Similarly, my AutoTrade demo page has said 'The AutoTrade system is currently undergoing maintenance. Please try again in a few moments.' all that time, and then has gone to the same 'Please wait while we're loading live data...' message after that.

Finally, viewing my AutoTrade demo page through the Portfolio dropdown (https://www.myfxbook.com/members/beren/fxgrowthbot/529773) shows me that my account was last updated Jun 01 at 03:35. I assume speeding this back up wasn't part of what you guys just fixed, but I thought I'd mention it anyway, just in case.

Thanks for all your hard work on everything,
- Andrew.
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