Archive for April, 2013

New Features And Updates

Monday, April 22nd, 2013

If you haven’t noticed yet, here are the latest features added in the past few weeks: Those of you who are using our newest service AutoTrade, can analyze AutoTrade provider performance in their portfolio by going to the “AutoTrade” tab in the “Trading” window; the data will also recalculate in real time in case you wish to custom analyze it:

AutoTrade Analysis

An option to re-enter a trade of a follower you’re closing manually (Tick the checkbox if you want to re-enter the trade again at a better or equal price (compared to original provider entry) – this is a very powerful feature which allows you to benefit from a ranging market while the provider is holding the position open:

Option to configure timeframe for the forex market section which changes the 3 columns showing relative change:  change in pips, change in percents and range bar:

Forex Currencies Timeframe Option

The widgets now include an equity curve:

Forex Widgets Equity Curve

Option to customize fields (over 35!) in your accounts list in your dashboard:

Custom Account List Fields

Our super advanced Forex Calendar was refurbished to include quick access buttons for today, tomorrow, this week and custom dates:

Forex Calendar

And a minor update with the history spark-lines which are now colored blue (for long trades) and red (for short) trades for easier reading:

Forex Trade Analysis

The trade analysis data was also added to your CSV statement which you can download.

Have a great week,

The Myfxbook Team.

New Forex Contest! $6,000 in Prizes!

Wednesday, April 17th, 2013

We’re happy to announce the registration of a new contest sponsored by FxPro. Trading will be done through the MT4 platform and $6,000 in prizes will be given out:

1st place – a $3,000 live funded trading account.

2nd place – a $2,000 live funded trading account.

3rd place – a $1,000 live funded trading account.

The contest will start on May 1st and will end on May 31st.

For more information and registration, please go here: http://www.myfxbook.com/contests/forex-contest-fxpro/15/rules

Regards,

The Myfxbook Team.

Oanda Forex Contest Results And Analysis

Monday, April 15th, 2013

The latest forex contest sponsored by Oanda had ended on Friday and the top 3 traders are:

1st place, ending with 2164% gain and winning a $3000 live funded fxTrade account : http://www.myfxbook.com/members/forexmaxims/contest-forexmaxims/510515

2nd place, ending with a 1613% gain and winning a $1500 live funded fxTrade account : http://www.myfxbook.com/members/samuiopm/contest-samuiopm/508689

3rd place, ending with a 1336% gain and winning a $500 live funded fxTrade account: http://www.myfxbook.com/members/latte/contest-latte/514932

This contest analysis showed quite a different data due to the fact that no EA’s were used:

Oanda Forex Contest

We’ve had a chance to interview the 1st and 3rd place winners:

1st place winner Forexmaxims

How long have you been trading?
9 years live

Can you tell us a bit about your trading experience/history?
I fell in love with trading from day one and have never given up or stopped. I have taken many much needed breaks through out the years.

Did you use your real life trading system for the contest?
Yes

Can you tell us a bit about your trading system (without revealing its inner workings of course)?
All manual I use a combination of Fibs, support and resistance, supply and demand,pivots, and moving averages.
How long have you been using Myfxbook?
Since 2008/2009

Have you found it to improve your trading skills?
Yes it is a very helpful tool i think every trader should use it

Do you have any feedback about the contest and/or anything else you would like to add (about the sponsor, Myfxbook, or the competitors)?
I love Oanda they are in my opinion the best broker out there.  It was a fun contest can not wait till the next one.

3rd place winner Latte

I am very grateful to win this contest.

How long have you been trading? Can you tell us a bit about your trading experience/history?
About six months I started to trade and had a very pleasant moment in the history of my trading when Japan BOJ rate decision was announced and then I opened a buy order.

Did you use your real life trading system for the contest?
Yes it’s true …. I do trade in this contest according to trading system in real life.

Can you tell us a bit about your trading system (without revealing its inner workings of course)?
Basically, I always use a trading system by watching and monitoring the economic calendar. Other than that, I also use indicators that exist in the platform.

How long have you been using Myfxbook? Have you found it to improve your trading skills?
About almost two months I used Myfxbook and trading skills I feel has improved a lot. I am very grateful to Myfxbook who have been improving my skills.

Do you have any feedback about the contest and/or anything else you would like to add (about the sponsor, Myfxbook, or the competitors)?
1. For Myfxbook, once again I say many thanks to Myfxbook who have held this competition.
2. To sponsor or broker, advice from me is more frequent competitions in order to compete and learn more deeply in the trade.
3. And my advice to the competitors is always a focus on market and a bit of patience to do the transaction order.

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Thank you for everyone who participated!

The Myfxbook Team.

AutoTrade – Next Generation Forex Account Mirroring Service

Tuesday, April 2nd, 2013

It has been asked for so many times that we’ve simply lost count. As the top leading forex analysis service, the only missing link is the ability to copy/mirror the trades of the best traders – no longer! After a private beta of several months and a public beta of 1 month with 1000 trading accounts, we’re proud to present AutoTrade – the next generation account mirroring service, as you’re about to find out.
Prior to the development stage, we’ve signed up to existing services to understand how such a service should (and shouldn’t! :) ) be implemented. Among our findings the following 4 stood out loud and clear:

  • Incorrect and misleading statistics (for example bottomless pip drawdowns, no record of equity drawdown, etc’).
  • Services looking to increase volume trading just to increase their profits (volume based incentives).
  • Difficult and confusing user interfaces with absolutely no explanation or limitation of risk.
  • Misleading claims of a no-cost service.

The result is an advanced, simple to use, professional trade copy service where we emphasize and limit risk, provide vital and true information about the performance (using the existing system analysis you have for your accounts), offer an intuitive platform where it takes only a couple of minutes to get the hang of it and most importantly a truly free and transparent service (no spread markups!):

AutoTrade (trade copy) Account Example

Ready to start?

http://www.myfxbook.com/autotrade

Please note that due to the addition of the new section, the strategies button moved inside the systems menu.

As always, any feedback/comments/suggestions are very welcome.

Thanks,
The Myfxbook Team.