To use chat, please login.
Back to contacts

Myfxbook Autotrade

blackopzfx (blackopzfx)
Apr 02 2013 at 20:04
7 postów
Folex posted:
Hi,

How do you ensure the integrity of a strategy?

I took a brief look of the currently available systems where I can identify several systems associated clearly towards their developer. E.g RobinVol 2.0 and Forex Growth Bot.

On the other hand I found one strategy 'Growth / Invest'... which looks pretty much as Forex Growth Bot and Forex Invest Bot upon its name/trades/pattern. Is that run/authorized by the developer(s)? Or what qualifies/allow this?

Further, I do understand that Martingale and Grid Strategies should not be allowed as stated in the FAQ. Well there seems to be already exceptions in your guidelines then.

Thus, even with a view systems listed it appears to be already rather difficult to ensure the quality intended.
My concern is that AutoTrade will end up as 'similar' services where commercial/free strategies are provided by 'third' parties of any experience/quality.

If AutoTrade's focus is Quality it should be driven hard and straight from the beginning.



In cases like this you should be able to 'REPORT' a system. MyFxBook should only remove the system if the developer contacts them and objects. Just because someone is using a commercial systems should not disqualify them. There is also an art to OPERATING a robot that shouldn't be ignored.

CFD Cybernetics
Folex (Folex)
Apr 03 2013 at 05:08
7 postów
blackopzfx posted:

In cases like this you should be able to 'REPORT' a system. MyFxBook should only remove the system if the developer contacts them and objects. Just because someone is using a commercial systems should not disqualify them. There is also an art to OPERATING a robot that shouldn't be ignored.


Hi,

Well, its not a matter of quality... as I said prior 'any quality' should state this...

To get this straight, in most cases one would violate the TOS (Terms of Service) of a developer/vendor of a commercial system if such signals would be provided by a third party if not authorized. Thus its an infringement where the 3rd party and AutoTrade would be liable.

A simple report feature would help initially but not solve such cases. From a developer point of view i would take legal action accordingly.

If AutoTrade is serious about their business they should have for their own protection a proper TOS/Registration/Verification (Broker alike) in place.

Again, lets not see AutoTrade becomming just an other 'junk' hub. It would be a pity if a great opportunity would be missed.

Staff (Staff)
Apr 03 2013 at 10:59
1387 postów
@Folex How do you suggest distinguishing commercial systems? There is no certain way to do that as far as we're aware.

Bisho777
Apr 03 2013 at 11:31
192 postów
i followed the most gain system per month... n guess what ... the result till now is :

Gain -14%
DD 18.12%

i suggest u ppl do ur homework... n learn how to trade by ur self ;)

Iroa
Apr 03 2013 at 11:40
37 postów
igbi1958 posted:
Great idea. I`m on demo with the autotrade program presently. Will also appreciate it if you include a column where the
performance of each signal providers can be tracked. This will enable one weed out the unprofitable signal providers. Trades needs also to be identified by signal providers when closed. It is impossible to determine closed trades by signal proivders as presently structured.


I also 2nd this request. A feature like this would be invaluable since you can only open one demo account and currently we have no way of sorting through past trades of different providers.

Staff (Staff)
Apr 03 2013 at 12:11
1387 postów
Iroa posted:
igbi1958 posted:
Great idea. I`m on demo with the autotrade program presently. Will also appreciate it if you include a column where the
performance of each signal providers can be tracked. This will enable one weed out the unprofitable signal providers. Trades needs also to be identified by signal providers when closed. It is impossible to determine closed trades by signal proivders as presently structured.


I also 2nd this request. A feature like this would be invaluable since you can only open one demo account and currently we have no way of sorting through past trades of different providers.


We've already added it yesterday but haven't announced it yet 😄

Go to your system (through your portfolio) and find the 'AutoTrade' tab in the trading window. It will also analyze in real time different periods in case custom analysis is used.

CFD Cybernetics
Folex (Folex)
Apr 03 2013 at 17:51
7 postów
Staff posted:
@Folex How do you suggest distinguishing commercial systems? There is no certain way to do that as far as we're aware.


You could focus for a start on/only allow systems which can be genuinely linked to the developer. E.g. Walllstreet, RobinVol, FE, GrowthBot. That should be rather easy to verify and drives quality/trust for all involved.

If a system is in doubt it can be placed in public monitoring stating the concerns regarding. Let your user decide its faith ;)

Put a TOS in place where you assign any infringement liability matters towards the SP (signal provider). Ownership and or authorization must be in place etc. You can drive this as far as fining an SP in case of violations as they may impact your business. That should help avoiding improper sign ups already. SP should be required to sign off/acknowledge the TOS accordingly...
On the scale AutoTrade may play I would get an attorney for an initial TOS setup. Get yourselves covered first.

We may discuss further via PM.




CrazyTrader (CrazyTrader)
Apr 05 2013 at 22:17
1718 postów
Hi,

This provider souldn't be into the list.

https://www.myfxbook.com/members/BrendanKing/kit/519377

Nordhoff
Apr 07 2013 at 08:42
21 postów
I also think a stat that would be helpful is max open trades at any time

Thanks

Freddy

forex_trader_[3734]
Apr 07 2013 at 09:24
33 postów
I think the most important thing now should be including only the very best providers.
It's pointless having dozens and dozens of providers, the selection is what can most differentiate myfxbook from others.
The value is in the selection.

These are some providers that I think should be removed:

https://www.myfxbook.com/members/maxpro_vn/ping-ea-hung/461335
https://www.myfxbook.com/members/myfxpedia/project-500-pips-month/420510
https://www.myfxbook.com/members/spoteuro/spoteuro-llc/185926
https://www.myfxbook.com/members/stevecyc/steve-fxcm-907/230948

The equity yellow line is suggesting the provider keeps bad trades open for too long hoping for a recovery, or system seems to be usign some sort of grid/martingale.

https://www.myfxbook.com/members/BrendanKing/kit/519377

Because a provider cannot drop 30% in one day.

These account may be followed in many ways, but not reccomended as providers.


Aby dodawać komentarze musisz być zalogowany.