Winners, you’ll be contacted by Excel Markets to claim your prizes.
Moving on to the contest’s analysis:
Excel Markets Contest Analysis
If you click on the above info-graphic, you’ll find the following data:
– 26% of accounts didn’t open a single trade. Out of the remaining 74%, only 9% of accounts were profitable while 65% lost money.
– Almost 40% of accounts got margin called
– The 1st place ended way ahead of the competitors.
– Winning and losing accounts had almost identical trade profitability (66% win, 34% losses)
– Winning accounts had 5 times a larger average win (16 pips) versus the losing accounts (3 pips) yet also a 7 times larger average loss (-21 pips) vs the losing accounts (only -3 pips).
This week we’ve upgraded community outlook – as per your request, we’ve added 47 currency pairs which will help you understand the current positioning of the Myfxbook community and this is the full list:
As the list grew longer, we had to remove the chart from the main outlook section and place it inside each currency pair.
Entering a sepcific symbol will reveal the positional chart based on the timeframe and the positinal data such as total volume and number of positions per short or long.
Moreover, you can now adjust which symbols to show in the dashboard in the community outlook box:
We’re happy to announce a new trading contest sponsored by Excel Markets! This time around, a total of $10,000 will be given out to the top 10 traders:
1st place – $5000
2nd place – $2000
3rd place – $1000
4th place – $500
5th place – $500
6th-10th place – $200
Important to note that there is no requirement to open an account with the broker – the winners will receive the prize money in cash, according to their preferred payment method.
As the leading social forex analytical service, we always work hard to add features which improve the analysis capabilities of your Forex trading account, however this time around, we’re improving the social aspect of Myfxbook 🙂
This is a feature that has been asked since day one and we’re very excited to add this capability to Myfxbook – a real time chat!
You now can have your own contact list which you can access by clicking the bottom (new) chat icon:
New Chat Icon
Clicking on a username in the contact list will open a chat window:
Contacts Chat
This new contact list and real time chat will help you to keep in touch with your contacts and chat with them in real time whenever they’re online – you are able to chat with multiple contacts simultaneously!
To add a user to you contact list, simply go to a user’s page and click the new ‘Add Contact’ button:
Add Contact Button
If you have any suggestions or feedback, as always, let us know!
We’re happy to announce of a new section called Liquidity – as many users asked, we’ve created a real time liquidity chart based on the data of multiple brokers and currencies:
Forex Liquidity
The liquidity chart provides a very quick way to analyze and estimate the current forex market liquidity and also compare the liquidity averages of different sessions.
Another update is the addition of Pepperstone to AutoTrade!
Pepperstone AutoTrade
You can now open an account with Pepperstone to have it automatically traded with AutoTrade.
We have many exciting features coming up in the next few weeks so stay tuned!
An important update regarding the latest contest; As a general rule, we try to look for a big variety of contest sponsors to be able to accept all traders so no one left out of the competition, as not all brokers can operate all over.
This failed us with our latest sponsor, Andromex. They have disappeared before delivering the prizes to the winners (website is down and phones are disconnected). Obviously all of the competitors worked very hard (especially the winners) so just to let you know that we are doing all we can to track down the broker and hopefully to have some news soon.
After so many requests, we’re excited to announce the full (and first!) integration of cTrader suite of platforms – the leading NDD/DMA FX trading platform – cTrader users can now enjoy the full (and unique) range of features Myfxbook has to offer.
For the past few months, we’ve worked hard with Spotware’s team to create a dedicated solution, to have your account connected with no software required from your end. We would like to thank Spotware for their great support – it was a pleasure working with you! 🙂
Spotware Systems (cTrader) had also commented:
Users have been asking for myfxbook services almost since we first launched. Now thanks to the work of their great team, myfxbook and cTrader have been fully integrated, and our traders can use their unequalled trade analysis and money management systems.
The connection is super user friendly; just go to the settings area, select cTrader as account type and once redirected to their website, choose which accounts should be processed – accounts will be processed instantly and will keep updating every 5 minutes.
Select cTrader Platform
After hitting the ‘Continue’ button, you simply need to select the accounts to connect with Myfxbook:
cTrader Permission Screen
A few more updates and features:
MT4 auto update – auto update has been fixed and although we’re still fine tuning it for the past few weeks, you can go ahead and use it (you can switch an EA/publisher to auto update mode through the settings).
AutoTrade quick analysis button – users of our free AutoTrade service can now analyze providers with a click of a button; going to your system and viewing the ‘AutoTrade’ tab will reveal analyze buttons per each provider – click it to quickly analyze the provider’s performance in your account.
AutoTrade Analyze Button
Menu Watch List – your portfolio menu now includes quick access to all of your watched accounts for easier navigation:
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.
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.
