To use chat, please login.
Back to contacts

Myfxbook Autotrade

MicheleFX
Oct 29 2017 at 15:19
4 príspevkov
Hi guys, how much could earn autotrade provider with 100-200 followers? Thanks.

jotarobook
Oct 29 2017 at 15:26
9 príspevkov
You are much better off looking for a manager which is not on Autotrade. They do exist...

are you talking about like hedgefund or something?

and any people here tried social trading of stocks? not forex. like something toro..

fxgar
Oct 30 2017 at 07:30
14 príspevkov
This is a FX forum so I am talking about FX managers. PAMM and MAM accounts to be exact. They work on a different principal than copying services, they are more reliable and the best part is investors get the exact same results as the master accounts.

Social trading is really overrated. My theory is that really good traders do not need or want to participate in social trading because they do not want to make their trading available to everyone. If I was a good trader I would not be selling my trading for cheap on social networks either. Thats why I said before that these traders are amateurs, if they were professionals they would manage their own funds.
Of course it is not enough to just be a PAMM fund manager, investors also need to look into the results. Almost everyone can manage a PAMM account as well but the point is there is a higher chance of finding a good trader with PAMM than a good trader selling his signals. And the best autotrade provider is not even close to what you can find on myfxbook in terms of PAMM and MAM managers. You just need to know what parameters you are looking for and interpret them correctly.

fxgar
Oct 30 2017 at 07:30
14 príspevkov
MicheleFX posted:
Hi guys, how much could earn autotrade provider with 100-200 followers? Thanks.



It really depends on the amount of money traded in subscribers accunts. The earnings can be really low but they could be huge as well. In my opinion the earnings distribution is unfair to the subscribers because the trader could have a bad performance but still making a lot of money and subscribers would just be losing money. The earnings should be based on actual performance not on the volume, that would be much more fair.

For example a manager can make 10% loss in a month but he will still make money because subscribers pay volume commission on every winning trade. It can happen that the trader had 100 loosing and 100 winning trades. Trader will get commission on the 100 winning trades in any case but subscriber will be left with -10% and paying the commission to a trader who made that -10% loss. Do you really want to pay those commissions if the trader is not making profit??

Agagon
Oct 30 2017 at 07:30
23 príspevkov
fxgar posted:
andresgc67 posted:
Thats because you guys keep insisting to invest with these amateur traders. I have been saying this on here for a while. You may make some money with Autotrade but overall its terrible and you risk too much to get that 1 or 2% monthly. You are much better off looking for a manager which is not on Autotrade. They do exist...


I disagree about lucky pound. I have been using it since the beginning of the year and have made 30% on my live account. Doesbn´t look like amateur at all.



It is very amateur compared to some other managers out there. The trader of Lucky Pound had a lot of luck to have a great July, otherwise he would have been at 0 for the year. That is not good at all. Besides his DD regularly goes over 10%. Are you happy with such DD for 3% monthly average? If you are, then you have low standards of what a good trader should be.



Hi fxgar,

Could you please post here some links with strategies that have better ratios? I guess for most people is difficult to set good standards if there is nothing else or better to compare with.

Thanks

fxgar
Oct 30 2017 at 15:31
14 príspevkov
Agagon posted:
fxgar posted:
andresgc67 posted:
Thats because you guys keep insisting to invest with these amateur traders. I have been saying this on here for a while. You may make some money with Autotrade but overall its terrible and you risk too much to get that 1 or 2% monthly. You are much better off looking for a manager which is not on Autotrade. They do exist...


I disagree about lucky pound. I have been using it since the beginning of the year and have made 30% on my live account. Doesbn´t look like amateur at all.



It is very amateur compared to some other managers out there. The trader of Lucky Pound had a lot of luck to have a great July, otherwise he would have been at 0 for the year. That is not good at all. Besides his DD regularly goes over 10%. Are you happy with such DD for 3% monthly average? If you are, then you have low standards of what a good trader should be.



Hi fxgar,

Could you please post here some links with strategies that have better ratios? I guess for most people is difficult to set good standards if there is nothing else or better to compare with.

Thanks

There are not many traders that suit my idea of a good trader. Right now I can only find 3 or 4 traders that I would consider investing with. I am invested with one of them.
I dont want to get banned from posting so I will not share the links on the forum but I can send the contacts privately.

But here is what I am looking for when trying to find a good PAMM account:
- well regulated broker with segregated accounts
- monthly profit higher than maximum drawdown (the most important)
- as many trades as possible (smaller variance)
- no scalping
- direct and professional communication with the manager
- consistent profit
- month to month performance should not vary too much (1% one month and 25% the next is a bad sign)

Beside all the above mentioned paramters its also important that the manager doesnt charge any volume commission or a very small one. The reason is that you dont want to be paying for bad trading like with autotrade. Managers should only get paid if they make money, they should not get paid by simply charging volume commission. If their volume commission is high, it tells me that they are not sure of their trading enough to rely solely on their trading performance.

MiguelMM
Oct 31 2017 at 15:52
10 príspevkov
I haven't found a single Pamm account that fits your requirements (similar to mine) and I have been looking for a long time. I don't think that they exist

snowy
Nov 01 2017 at 11:05
78 príspevkov
If you take all of the above rules as a basis, it would be most likely impossible to find such an account. ;)

jotarobook
Nov 01 2017 at 15:46
9 príspevkov
well, only that max DD and monthly average profit, is not found.. other requirements seem reasonable.
most accounts have max DD of over 50%, it seems like. monthly ave profit so high is impossible. i looked at only one broker though.
im glad i asked here, fxgar showed me this thing and im about to make a better decision, i guess

tradxl
Nov 01 2017 at 15:46
10 príspevkov
snowy posted:
If you take all of the above rules as a basis, it would be most likely impossible to find such an account. ;)


I think such systems exist but probably not on myfxbook.


If they do, I am not able to find them.

Pre zaslanie komentára sa musíte najskôr prihlásiť.