Myfxbook Autotrade

i think myfxbook need to try and get more providers as at the moment there are not many that i am comfortable enough to follow, maybe myfxbook should try to incentivise traders who look as if they have very good statistics over a long period of time. Or perhaps many dont even know auto trade exist... so perhaps a big advertising push?

I think those who are 'good enough' for auto trade doesn't need to advertise here at all?
It seems to me that looking at older Myfxbook or ZuluTrade forums post those 'older' successful much talked about systems or traders have all disappeared lately.
Either they have quit or became so successful that they find their customers other ways.
Or managed to trade just by their own money which is the best thing.
And I would not take any customers from Myfxbook forums because they are so demanding and would just be PITA to keep them happy all the time 😉

There is not such a thing as consistently profitable trader with over 2 years public statistics here, or is there!
If there is they don't need outside money to make living of trading by now.

Most account managers here are just wannabe traders that never could handle 1M accounts - and nobody would trust so much money for them anyway (for obvious reasons).
Playing with 5-10K accounts is different thing for both traders and investors alike. A nice hobby.

I've found here two manual traders and one robot I follow.
Just three weeks so there is not much to comment their performance but my account is still green and that's good thing.

I think advertising would not be very beneficial because where would those good traders or systems come?
Most money managers out there should be aware of Myfxbook auto trade option.
But 'good' results or transparent results are maybe the reason they stay out?

Nordhoff posted:
i think myfxbook need to try and get more providers as at the moment there are not many that i am comfortable enough to follow, maybe myfxbook should try to incentivise traders who look as if they have very good statistics over a long period of time. Or perhaps many dont even know auto trade exist... so perhaps a big advertising push?

Hi,

There are strict rules for traders to qualify as provider. I think it is not a matter of advertising to 'recruit' more providers. If followers/investors do not pay a fee, i think it is not easy for myfxbook to some how have direct incentive for providers. Unless follower pay more spread.

Regards,
SIM

The new features are awesome!

Two suggestions,

Could you add tags, or else, to the auto trading account so I can use the custom analysis to filter out trades per provider? At this moment I cant figure out how to review each provider performance in my auto trading account.

Could you consider setting up sending automatic invitations to become provider to those accounts that meet the conditions? This way becoming and being a provider would be more transparent. The provider status could be then revoked or put on hold when the account performance drops below the set conditions. Everything automatically managed.

cheers,
Aimak

Aimak posted:
The new features are awesome!

Two suggestions,

Could you add tags, or else, to the auto trading account so I can use the custom analysis to filter out trades per provider? At this moment I cant figure out how to review each provider performance in my auto trading account.

Could you consider setting up sending automatic invitations to become provider to those accounts that meet the conditions? This way becoming and being a provider would be more transparent. The provider status could be then revoked or put on hold when the account performance drops below the set conditions. Everything automatically managed.

cheers,
Aimak

A very valuable feedback! 😄

You can analyze AutoTrade providers using the AutoTrade tab: https://www.myfxbook.com/autotrade/help#help_13

I've forwarded the other suggestions to the dev team.

Opening an FXCM account via MyFxBook AutoTrade gets you their basic NDD account. Have you folks seen the spread pricing for that?

https://www.fxcm.com/advantages/forex-spreads-pricing/

The spread prices are so high that a few EAs will probably trip up.

If FXCM stays the only supported broker, I recommend that MyFxBook use their influence to try and get everyone they introduce to FXCM the ACTIVE TRADER rates which are a lot lower.

Alternatively, I'd like to see a broker like Armarda Markets (no I'm not trying to advertise) which has much tighter spreads here:

https://www.armadamarkets.com/fx-trading/fx-traders-pick-us/

::

One thing I don't understand is why AutoTrade trade history is not showing up in myfxbook.com's portfolio/member pages. The only way I can see current trades is by logging in, clicking AutoTrade and then the manage button. The portfolio/member page stats of the associated account all remain at zero.

bistro posted:
Opening an FXCM account via MyFxBook AutoTrade gets you their basic NDD account. Have you folks seen the spread pricing for that?

https://www.fxcm.com/advantages/forex-spreads-pricing/
.

We'll be adding more brokers in the future, however in any case, we've yet to find any similar service charging lower fees, in fact, AutoTrade offers the best pricing for such a service.

Ethan....You do know that the FXCM (UK) accounts you offer cannot accept US residents...don't you?

i have a question do auto trade copies a position to system which i subscribed even im not login?

ect112 posted:
i have a question do auto trade copies a position to system which i subscribed even im not login?

Yes of course, it is hands free trading.

Could you add the option to track signal provider names in the Trading activity-history tab or into autotrade page (near open trades/ orders tabs)? Thank you!

jprize posted:
Ethan....You do know that the FXCM (UK) accounts you offer cannot accept US residents...don't you?

Yes. The regulation in the US prohibits us from accepting US clients at this time (just like the broker).

k789k posted:
Could you add the option to track signal provider names in the Trading activity-history tab or into autotrade page (near open trades/ orders tabs)? Thank you!

You already have the provider avatar and system name. Isn't that enough?

Staff posted:

k789k posted:
Could you add the option to track signal provider names in the Trading activity-history tab or into autotrade page (near open trades/ orders tabs)? Thank you!

You already have the provider avatar and system name. Isn't that enough?

That's in the open trades under the AutoTrade menu. There's no way do custom analysis by provider, or to see which provider initiated which closed trades.

Staff posted:

k789k posted:
Could you add the option to track signal provider names in the Trading activity-history tab or into autotrade page (near open trades/ orders tabs)? Thank you!

You already have the provider avatar and system name. Isn't that enough?

That's under the AutoTrade tab, and it shows open trades and orders. There's no way to do custom analysis on closed trades by provider, or to see which provider initiated which closed trade.

This is a very important piece, in my opinion. Because we can only have one AutoTrade demo account, I am trading quite a few systems simultaneously to see how they do. I want to be able to ananlyze their history in detail against their posted accounts, and be able to perform other analyses on my trading history for each specific provider. There's no way to do that at the moment.

Would be great to be able to backtest / simulate your portfolio settings (kind of like you do it in ZuluTrade) while at the same time obtaining some of the usual MyFxBook analysis from that backtest. Think it would be a great addition!

Are OANDA brokers as a signal provider not allowed? It doesn't seem that they are MT4 approved despite the fact that I use MT4 for my OANDA accounts.

you should let investors decide whatever system they like and want to follow ,too much restrictions here

rob559 posted:
you should let investors decide whatever system they like and want to follow ,too much restrictions here

I don't agree. System selection is the main area of diversification and value-adding versus other (bad) services, like zulu.