My experiences with FX Autotrading a live account

Quote from FX245:


[I just don't understand why so many signal providers don't give basic contact information on their website like address, telephone, email, name of principals, ... What are they all hiding for ??? why do people in the fx world behave so secretly and hide behind (ugly) websites & anonymous forum discussions ?? Why is this ? [/B]
More...

Most of the signal providers work from home . They dont have the resources and time to entertain the large number of queries from the worldwide audience.
 
FX245 -- I couldn't agree more with the need for more stats on these trading systems. I am currently trading 9 of my own stock trading systems and I keep several dozen statistics for each system in order to help me balance my investment in them and track their performance. An EXTREMELY important statistic that FX-Auto seems to ignore (at least on their performance site) is the max equity drawdown as opposed to the max "account balance" drawdown (i.e. open trades). This allows systems who leave huge losing trades open for long periods of time to look downright amazing even though they may have -800 pips in current open trades, or have carried huge equity drawdowns for weeks but closed out the trade positively. Things like equity Sharpe ratio and payoff ratio (avg win/avg loss) would be invaluable. If an amateur like me can write code to keep stats like this up to date on a daily basis, surely FX-Auto can.

That said, the actual trading aspects of FX-Auto are very nice and I am not trying to complain or be negative, just expressing a desire for a few quick and simple additions that would make it so much better in my eyes.
 
Quote from auslanco:

Have you looked in to Espritfx?. They have a excellent performance record so far.
More...

Espritfx are on my radar ... impressive indeed - will look into them in more detail later.

Thanks for the reply !
 
Quote from tycanadian:

FX245 -- I couldn't agree more with the need for more stats on these trading systems.
More...

I fully agree. In addition you also want statistics about the correlation between the systems, so you can build a portfolio of systems with low or negative correlation.

You can do even better by using a portfolio optimization tool, which gives you the optimal weights for each system in your portfolio such that you get the lowest risk for a certain (target) return.

If you want to see an example, check my blog.

NB. This involves quite a bit of programming and knowledge of statistics
 
Quote from tycanadian:

FX245 -- I couldn't agree more with the need for more stats on these trading systems. I am currently trading 9 of my own stock trading systems and I keep several dozen statistics for each system in order to help me balance my investment in them and track their performance. An EXTREMELY important statistic that FX-Auto seems to ignore (at least on their performance site) is the max equity drawdown as opposed to the max "account balance" drawdown (i.e. open trades). This allows systems who leave huge losing trades open for long periods of time to look downright amazing even though they may have -800 pips in current open trades, or have carried huge equity drawdowns for weeks but closed out the trade positively. Things like equity Sharpe ratio and payoff ratio (avg win/avg loss) would be invaluable. If an amateur like me can write code to keep stats like this up to date on a daily basis, surely FX-Auto can.
More...

Hi Tyler,

I'm with you.

I agree with fx-auto's 3 rules for fx-autotrading success:
1. Restricted / Limited Strategy Flipping
2. Conservative Leverage.
3. Risk Averse Portfolio - (i.e not all strategy in same pair)

For point 3 "Risk Averse Portfolio", more stats would be very usefull..
The perfect portfolio would have signals:
- from different signal providers
- in different currency pairs
- with different strategies (breakout, ..)
- with different timeframes
- other diversifications where needed

more stats would also allow to balance the different signals better .. how many lot per signal ...

thanks for your input !
 
Quote from NoWorries:

I fully agree. In addition you also want statistics about the correlation between the systems, so you can build a portfolio of systems with low or negative correlation.

You can do even better by using a portfolio optimization tool, which gives you the optimal weights for each system in your portfolio such that you get the lowest risk for a certain (target) return.

If you want to see an example, check my blog.

NB. This involves quite a bit of programming and knowledge of statistics
More...

Hi NoWorries / Science Trader ,

Thank you very much for your input and for pointing to your blog .. I will study it in detail .. I'm interested in your C2 experiences, and how that compares to fx-auto ...

Cheers.
 
I have no experience with fx-auto so I can't make a direct comparison. I might give them a try in the future though. My experiences with C2 are good and I think it's a valuable service. Because so many systems lose money, the odds of picking a winning system at random are bad, which means you really have to study their track record.
 
Interesting blog NoWorries, I have browsed C2 a lot myself and I use Interactive Brokers for all my own stock autotrading but haven't taken the step of autotrading C2 systems with them yet.

Correlations would be even better, since you are right -- that is a major factor in ensuring risk-averse portfolios.

Hopefully we can keep the ideas flowing...good work you guys.
 
daily statement of 07JUN2007 - see attached.

We had an exceptional, outstanding day today: +340

4 closed trades:
+77 ForexFighter KO
+77 +94 +99 ATR Channel GBPUSD (all closed manually)

No open trades
starting balance: 6000 (14MAY2007)
current balance: 6679(+11.3% - new high)
current equity: 6679 (+11.3%)

wonderfull week so far.

+11% in under 4 weeks - this is too good to be lasting ... but feeling happy about it.
 

Attachments

You must log in or register to reply here.
Back
Top