Performance – Is it real?

When it comes down to finding a money manager or even a system for sale, the bottom line is performance. But how can you know if the performance is real or not? Maybe someone faked it?

If you meet someone in the real world and they¬† offer you to manage your account; You ask them to prove their performance so then they give you the investor password to their MetaTrader 4 account.¬† How can you know it’s theirs account in the first place? Unfortunately, you can’t.

We’ve received similar suggestions/questions regarding performance authenticity over the past several weeks – how can one know if the performance is real or not? Is it a real or a demo account? And if you can’t know that then what’s the point of Myfxbook?

That is an excellent point. As you all know, we support currently Oanda’s platform and MetaTrader 4. Oanda’s accounts are verified as the data comes directly from Oanda’s servers; MetaTrader 4’s data comes as a simple htm file from the client, so forging the data is not that difficult.

So what’s the good news? We’re currently working on a solution, which will not only verify the trading performance, but also the true owner of an account.

This will be a big step in us becoming a trusted and verified source of information when looking for systems or account managers.

Stay tuned!

System Upgrades

Some of you might have noticed several failures last week when your MetaTrader 4 platform tried to publish your statement to our servers.

Well, we’ve noticed it too. The reason for these failures was the inability of our servers to handle the work load – our servers receive and process over 70GB of data daily!

Our team has worked hard over the weekend to modify and test our software to handle the current work load and they’ve successfully completed it.

Thank you for your patience!

Magic Numbers Issue

We’ve received several complaints from members who cannot activate the magic numbers/comments in their metatrader.

It appears that it’s not working for all platforms.

We’re currently investigating it and will update you on any changes.

Thank you.

Update – we have found the issue, and working on an alternative solution. It may take us couple of days to complete it.

Thank you for your understanding.

Update (October 12) – the new solution is almost complete. It’s currently being tested by our team.

Update (October 15) – Completed. Please see the help section on enabling magic numbers and comments.

2 New Features!

Since new features are added and more aspects of your account are now controllable, the account settings form had to be re-designed. There is no more a sliding form, but an in-place form editor which should give you much quicker and more convenient access to your account settings.

As to the new features – these ones were one of our most requested and complex features; ability to log comments from MetaTrader 4 trades, and analyze trading activity by magic numbers.

In order to add those to existing trades already logged on our servers, you will have to turn on the ‘Data Restore’ mode (In the account settings) and just enable ‘Comments’ in your account history tab in MetaTrader 4. Existing comments on trades created in Myfxbook by you will not be affected.

Here’s a quick look on the new magics feature:

After using the ‘filter by magic’ option, you will have a complete view of how each magic number performed.

Since an account can have many magic numbers, we have added the option of naming and designating a color to each magic found in your account (in your account settings):

After selecting magic numbers for analysis, all statistics will be recalculated for the selected magics in real time.

This feature is most useful for anyone using several EA’s to trade – no more need to open a new account for each EA. Just use this feature to see exactly how each EA is performing! And for those who would like to disable this analysis on their public system can of course choose to do so (Account settings form).

Oanda account updating issue process which affected some accounts is now fixed – there is no need to create a new account, just update the history link.

Invitations are fixed and enabled also.

Some more minor interface changes were made and errors fixed.

We have some more great features already in development and can’t wait until they’re released.

If you have any comments on the new features or changes, please let us know!

Have a great weekend!