We just wanted to let you know that we’ve been working hard on the auto update method which was removed a few weeks back. We’re glad to report of significant progress – the auto update option will be fully restored very soon so you’ll be able to have your accounts updated just like before.

We would like to thank you for your great feedback and apologize for the inconvenience caused.

Have a great week!

The Myfxbook Team.

Due to recent events of MetaQuotes blocking our servers (which we believe is because of the high load we created on their servers) you might have noticed we’ve stopped offering the auto update option.

We would like to make it clear that no other functions of Myfxbook are affected and everything is working as expected.

If you were using the auto update option, we kindly ask you to move to the EA method instead – your account will resume updating normally ( http://www.myfxbook.com/help/connect-metatrader-ea )

As a side note, we’re working on many new features and integration of new trading platforms so stay tuned!

If you have any comments/feedback or issues, as always our support team is here to help (support at myfxbook.com)

Thanks,
The Myfxbook Team.

FxPro Forex Contest Analsis

The winners are:

1st place – Ducuong with 29,471% http://www.myfxbook.com/members/Docuong/contest-docuong/552341 winning a $3000 prize.

2nd place – signaltrader with 2899% http://www.myfxbook.com/members/signaltrader/contest-signaltrader/554746 winning a $2000 prize.

3rd place – piaoxue with 1687% http://www.myfxbook.com/members/piaoxue/contest-piaoxue/556309 winning a $1000 prize.

We’ve also had the chance of interviwing 1st and 2nd place winners:

1st place winner Ducuong

How long have you been trading? Can you tell us a bit about your trading experience/history?
I have been trading for over 3 years. I learn to trade from my older brother who is professional trader cum programmer.

Did you use your real life trading system for the contest?
Yes. I use this strategies on my live account. But I trade at lower risk on forex, not silver.
Silver is very risky for live trade. But it’s very potential.

Can you tell us a bit about your trading system (without revealing its inner workings of course)?
This strategy has been developed by my brother for 4 years. It named PING (see at http://ea.maxpro.vn)
It is combination of Grid, Martingale and Basket (forex) and with other normal indicator as well

How long have you been using Myfxbook? Have you found it to improve your trading skills?
I use Myfxbook for over 2 years. Myfxbook is very good that support me a lot on analysis strategies as well as sharing my account to other.
It is also a good place to learn other trading. Thank Myfxbook.

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 hope that Myfxbook continues organizing other contest more frequently that traders have more chance to learn each other.

Thank you!
Docuong

2nd place winner signaltrader

How long have you been trading? Can you tell us a bit about your trading experience/history?
I’ve been trading for 6 years though only FX for the last 3 years. I started off buying companies that I liked and had a couple of good trades but then started to give the profits back. It was a case of beginners luck buying the bottom of the market(ish) in
2009.
When I started to over trade and give my money back, I figured it was something I wanted to do as a living and that I should get some education. I found a course and paid my money and the traders that were mentoring me were FX traders. They talked a lot about money management and keeping a log and obviously finding a strategy that suited me as a person and my lifestyle.
A lot of what they said in hindsight is on the internet and in books and I need not have paid the money, however I probably would not have found as much merit in reading it first hand as I did from being told and shown by a real person.

Did you use your real life trading system for the contest?
I have a real system and I started using it at the beginning of the comp, though it quickly became apparent that if I were to get anywhere in the competition I would have to maximise the risk free capital. I saw that a couple of traders were scaling up the amount of trades and position sizes and for a while I kept up with them. Then it just started to get silly, at one point I had open profit of a $million, and I got greedy, didn’t bank it and settled with $200k or similar. I figured that I was starting to gamble rather than trade and I backed off. So I don’t think that my strategy will turn $50k into 1 or 2 million in a month but its great to see what could happen if I were to maybe martingale the winning streaks.  It also showed how the big numbers quickly bankrupt you if you’re not careful.

Can you tell us a bit about your trading system (without revealing its inner workings of course)?
The system is based on support and resistance and Wyckoff has the best illustration of this that I have found. Showing supply,demand, accumulation and distribution. If you find those areas on a chart and then trade off them its amazing how well any strategy works. Mine combines Price Action with a moving average for swing and longer term trades or the Kijun-Sen for scalping. For chart analysis and trade ideas I will go through the Weekly,Daily,H4 and H1 charts and then for entry I look to the m15 or m5 depending on the type of trade I think i’ll be taking. Trade set up with H1 and entry with m5 are probably the most successful trades I took in this comp. As you had to get a really good entry when trading 50 lots of Gold.

How long have you been using Myfxbook? Have you found it to improve your trading skills?
I’ve used myfxbook off and on for 3 years, keeping track of the trades when using EA’s and tagging them to get the results is a great feature and its great to be able to see how well certain things are doing from month to month.

Do you have any feedback about the contest and/or anything else you would like to add (about the sponsor, Myfxbook, or the competitors)?
Seeing what some of the EA’s can do was quite inspiring, it would be great to see the competitions split between HFT and discretionary only. Its hard to compete with something that potentially makes 10 winning trades for every 1 that I made but as an overall idea the competition was a good thing and I am obviously glad I entered. They are also getting more popular so competing against so many other traders was a good exercise in staying disciplined and my goal was to stay in the top 10 for as long as possible and hope that the ones above me blew up their accounts. Goes to show that a bit of education and hard work can get you to a point where its possible to trade well.

Best regards,
Neville

—————————————————-

Have a great weekend!

The Myfxbook Team.

1^st Prize: 3050 USD

2^nd Prize: 1450 USD

3^rd Prize: 950 USD

4^th Prize: 500 USD

5^th Prize: 250 USD

6^th Prize: 200 USD

7^th Prize: 200 USD

8^th Prize: 200 USD

9^th Prize: 100 USD

10^th Prize: 100 USD

Registrations starts today and trading will begin on June 15th, so hurry up and register here: http://www.myfxbook.com/contests/forex-contest-andromex/16/rules

Please note since auto update mode isn’t available, you’ll have to use our EA to publish your account and view live ranking.

Have a great week,

The Myfxbook Team.

Account Notifications

The available options are:

Gain (%)
Abs. Gain (%)
Daily (%)
Monthly (%)
Drawdown (%)
Balance (€)
Equity (%)
Equity (€)
Profit (€)
Interest (€)
Deposits (€)
Withdrawals (€)
Tracking
Trades
Profitability Won (%)
Profitability Lost (%)
Pips
Average Win (Pips)
Average Loss (Pips)
Average Win (€)
Average Loss (€)
Lots
Commissions (€)
Longs Won (%)
Shorts Won (%)
Avg. Trade Length
Profit Factor
Standard Deviation
Z-Score
Probability (%)
Expectancy (Pips)
Expectancy (€)
AHPR (%)
GHPR (%)

For each metric you can set a notification if it is above or below a specified value. Once hit, you will receive a real time  notification by email and in the website. The notification can be set up as easily as with our forex calendar, by clicking the bell icon on the right of each account.

Have a great week,

The Myfxbook Team.

AutoTrade Grouping - Trades and orders are now grouped by the provider which makes it easy to see in real time each provider’s trades/orders and profits:

AutoTrade Grouping

You can minimize/maximize each of the providers separately and collectively.

Provider pause mode - if you wish to stop a provider from making any new trades yet do not wish to remove it from your AutoTrade portfolio, you can do so with a click of a button.

AutoTrade Pause Example

The status of the provider can be clearly seen with a red/green state near the avatar:

AutoTrade Pause Example

Advanced settings – which provide you complete control over the provider’s settings.

AutoTrade Settings

Clicking the settings icon will pop up the following options:

AutoTrade Settings Example

Total Lots – Max allowed total lots of open trades and orders

Total Open Trades – Max allowed open trades and orders

Balance Stop ($) -  Stop trading if balance is below this value

Drawdown Stop (%) - Stop trading if floating drawdown is above this value

Fixed Lots: Open each trade/order with fixed lots

Allowed Trading Hours - an easy to edit table to control the exact allowed/disallowed trading times for the AutoTrade provider.

New Trade/Order Email notification – you’re now notified of any new activity in your live AutoTrade account, by email (Notifications can be disabled in user settings).

If you haven’t tried AutoTrade, you can go ahead and open a free demo account:

http://www.myfxbook.com/autotrade

(Important to note that a live account is free also!)

All of the above features are based on your feedback so your help in shaping AutoTrade is much appreciated! Please keep your suggestions coming

Have a great week,

The Myfxbook team.

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.

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.

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.

————————————————-

Thank you for everyone who participated!

The Myfxbook Team.

• 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.