Author: Myfxbook

Analyzing your account as a whole might not always be enough – pinpointing the exact issues might be a very difficult task but using Myfxbook definitely helps :).

Although we’re proud to have the best and most useful tools for this task, we’re always looking for new ones and as a pioneer in forex trading analysis, we design and create unique tools giving you an edge unavailable anywhere else.  We’re excited to reveal the result of our hard work which is one of the most powerful additions to your tool-box: Trade Analytics.

The trade analytic will show in your history tab, in your private portfolio and in your public system page (with appropriate privacy settings):

The trade analytics will tell you everything you ever wanted to know about each of your trades with the next 8 statistics:

Time Profitable – how long was the trade profitable in percent and in absolute time.

Drawdown – worst drawdown experienced during the trade’s lifetime, in pips.

Max – the max profit of the trade experienced, in pips and money.

Min – the min profit (highest loss) of the trade experienced, in pips and money.

Risk : Reward: the risk:reward ratio of the trade (based on the max and min values of the trade!).

Profit Missed – how much profit did you miss by not exiting on time (profit which was already yours).

Entry Accuracy – how accurate was your entry.

Exit Accuracy – how accurate was your exit.

Efficiency figures identify how much of a trading range your forex trading system captures. The trading’s range timeframe is defined by your trade’s entry and exit points and the price range is defined by the trade’s high and low values.

You can sort your trades based on these new metrics by clicking the ‘more’ button in the history section and adding the new metrics.

Please note the above statistics are supported for over 50 different forex pairs and will be available only for verified accounts and for recent trades (which is another great reason to connect your forex trading account to Myfxbook as soon as you open it! :)).

Another feature added is menu customization:

You might have noticed a small handle next to each account/portfolio in the Portfolio menu – you can now move around the items to reorder them as you wish and it will be instanly saved (remember you can create and manage your portfolio groups through your settings area, ‘Manage Portfolios’ button).

One last addition: Forex Broker Volume Widget:

Just as in the website, the widget is self updating the data.
Get the code on https://www.myfxbook.com/forex-broker-volume (green ‘add to site’ button) and place it in your blog/website).

Do let us know what you think and if you have any suggestions/comments.

Have a great week!

The Myfxbook Team.

We’re happy to announce the first forex trading contest for 2013! 🙂

The contest is sponsored by FIBO and the top 3 traders will win the following prizes:

1st place – $3000 funded forex account

2nd place $1500 funded forex account

3rd place $500 funded forex account

This forex contest will start on February 1st, so you have less than 2 weeks left to register.

To register, please go here: https://www.myfxbook.com/contests/forex-contest-february-2013-fibo/13/rules

Good luck to all of the competitors!

Regards,

The Myfxbook Team.

We’re excited to release another unique Myfxbook section – Forex Volume:

Clicking on a broker, will reveal a real-time volume comparison chart:

Clicking on a specific volume value will lead you to a real-time volume chart of that specific currency and broker in question for the last 48 hours.

Just as with the spreads section, you’ll see volume session averages below the chart, brokers with higher volume, a volume chart with economic events, ability to save the volume chart and also analyze volumes in real-time for different time-frames by zooming in and out of the chart.

Up until now it was impossible to know and compare volumes of different brokers. Why would one want to do that you may ask? The answer is that higher volume means higher liquidity which translates to lower (or better) spreads.

Now you can view and compare forex broker volumes in real time for over 80 different brokers! You can see which brokers have the lowest volumes and which ones have the highest volumes for over 100 different currencies.

Another cool feature we’ve added is tick charts in the market section, on the right:

Like the new features? Want us to add another section? Let us know by commenting below or sending us a message.

Have a great week,

The Myfxbook team.

We’re proud to present the first (and super cool!) features for 2013 🙂 :

Real Time Notifications
The login panel got upgraded and now you have a real-time activity and messages notifications!

No matter which section you’re currently viewing, you will receive in real-time a notification on anything related to your account. You can preview the notifications in the login panel quickly or go to the section in question using the links at the bottom of each pop up window.

Forex Economic Calendar Widget Upgrade

Looking for a free and most sophisticated economic calendar widget? You just found it! 🙂

We’ve added all of the available options you can see in our Forex Economic Calendar to our free widget – you can use it on your blog/website and it will have identical advanced features (except for the email notification feature) which will help you provide extra content for your visitors. To add the widget, please go here: https://www.myfxbook.com/widgets#widget_calendar

Wish you a great 2013 ahead!

The Myfxbook Team.

We’ve made efforts to push out the last 2 features for 2012! 🙂 Before going over the features, we would like to thank you for making Myfxbook the leading (and largest) forex social community. We wish you a Merry Christmas! Many more features (and sections) are already down the pipeline so 2013 should be very interesting!

And here are the latest features:

Dashboard Customization

The dashboard can now be customized to show the elements in an order you wish.  You can find it in your dashboard, just below the menu on the right.

Swap Widget
You can add the forex swap comparison widget to your website/blog and provide extra content for your visitors.

You can find the swap widget in the forex swap section, by clicking on the green ‘Add to your site’ button.

Merry Christmas,
The Myfxbook Team.

Whether you’re a blog or a website owner, we’ve created new cool widgets you can use:

Volatility Widget


Correlation Widget


Market Widget

You can configure the exact currencies and columns to include/exclude. To use the widget, just go to the section in question and click on the green “Add to your site” button:

The widgets are a great (and free!) way to add live content to your blog or a website, so go ahead and use them 🙂

Another addition is to the user page – any charts you’ve published will now show in your public user page (click your username at the top).

Happy Holidays,

The Myfxbook team.

This forex contest has been a tough one and here are the contest’s analysis report; There is an obvious change in favor of more longer term trading when comparing the results to previous contests.

Although usually top winners are quite close in results, this time 1st place winner had almost 7 times larger gains than the rest, and the winners are:

1st place winner – Contest – kang_piko ending with an equity gain of 11145.02%

2nd place winner – Contest – Entessari ending with an equity of 1609.31%

We’ve been able to get hold of the 2nd place winner, Farhad Entessari, for a quick interview:

How long have you been trading? Can you tell us a bit about your trading experience/history?

I learned technical analysis 11 years ago in the stock market and it’s been more than 8 years now that I’ve been trading Forex. Besides, it’s been a year that I’ve been trading full time.

Happy Holidays,

The Myfxbook Team.

Those of you who have noticed, we’ve been working really hard the past few months to bring you new and super useful features unavailable anywhere else and here is our latest development: a new section called Forex Swaps covering over 200 brokers! Swaps are important factor in trading as it can make or break your trading plan.

In this section you can easily compare the swap paid (or debited) to you in a table format. You can choose the currencies to compare to and filter the swaps according to your criteria:

Clicking on a broker will show all of its swap rates and you’ll be able to easily compare the swap against swap values of other brokers in a chart:

Also, as per your request, the community outlook chart was upgraded and it now includes a live currency feed (for the currency you’re viewing) and 6 different timeframes (more timeframes will be added as soon as there is enough data collected):

Have a great week,

The Myfxbook team.

We’re excited to announce the addition of a new section called forex correlation. Before going over the section and its unique features, a quick explanation about why correlation is important for your trading.

Correlation tells you how two currencies move in relation to each other. Currencies can have a positive correlation (meaning they move in the same direction) and a negative correlation (meaning they move in opposite directions). Why should you care? If you’re trading 2 currency pairs which have a very high positive correlation, you’re effectively increasing your risk as if one position goes against you, so will the other one, based on their correlation. On the other hand, if you trade two currencies which have a high negative correlation, you are unlikely to have both positions profitable at the same time, due to the negative correlation. This is why you should be aware of correlations which can in turn reduce risk and improve your returns.

Moving on to the new section – the first page covers all of the correlations you would like to know of in one quick glance:

You can filter correlations in real-time based on min/max values.

Clicking on a correlation result will get you to a historic correlation chart where you can compare up to 10 more correlations side by side:

Clicking on a currency will reveal the top positive correlated currencies, top negative correlated currencies and top correlated currencies (absolute value) along with radar charts to help illustrate the correlation:

Have fun exploring the new section and do let us know of any feedback you may have.

Have a great week,

The Myfxbook team.

We’re happy to announce the much anticipated community outlook history chart . Having over 27,000 real active accounts connected to Myfxbook, our community outlook is the most accurate and useful forex sentiment tool out there!

The outlook data is saved every minute to provide you an up to date history chart. You can load historic data by scrolling left with the chart’s scroller.

Have a great week,

The Myfxbook team.