My experiences with FX Autotrading a live account
- Thread starter FX245
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Not sure if your question was for for me, but i'll answer anyway !
I'm using fixed lots at the moment, as I have a relatively small balance on the account.
Also, I am just using just the one signal provider (WSS), although I know that using just one or two providers is not recommended.
It is really an experiment, and i'm not using a lot of money, so the higher risk doesn't bother me.
My plan is to switch to a "ratio" of lots based on %age of balance, if/when present balance increases sufficiently.
This way, the lot size will grow automatically as the balance does, (in the same way as WSS website shows the lot-size growing as the equity grows), and I won't need to give the account as much personal intervention.
I'd be interested to hear from others, about their approach to auto-trading.
Hi SpecialFX,
Thanks for your input !
As far as I could follow the discussion on the WSS forum, the WSS EA for MT4 is still in 'Beta', and only recommended for demo-money purposes only.
WSS on fx-auto should be 'production' and is recommended to trade live ... looking forward to your results !
Cheers.
thanks for info on this thread, i have just made a "blog" to document my experience with the fxdd-auto trading platform as well, it is at www.garydempster.com/blog if anyone wants to follow my portfolio's performance.
the real-life results and proven performance of these systems (over a year's time anyway) is certainly an improvement over paying $100-200 a month for a signal provider and not knowing if those signals are going to work or not. and way better than staying up all night trying to trade yourself...
the real-life results and proven performance of these systems (over a year's time anyway) is certainly an improvement over paying $100-200 a month for a signal provider and not knowing if those signals are going to work or not. and way better than staying up all night trying to trade yourself...
I agree, this is a real breakthrough, and something that many people, including myself, have been crying out for.
It's definitely the way to go, in future.
I'm sure it will grow in popularity, as word gets around, and will be used in the same way that people pick funds and fund managers for stocks and shares now.
Hi gary,
Just had a look at your blog. As you have mentioned Quants signals will make you money in the long run. But when I was picking my portfolio one of my main concerns was drawdowns. For Quants to have a streak of 300 pip losses is very common. Thats why I chosed one quants pair and mixed it with signal providers who has tighter stop losses to balance it out. That way If quants system has a bad week it doesnt hurt my portfolio much .
The other risk of choosing one or two signal providers for your portfolio is even though It trades different pairs the fundamentals of the systems are the same. There for if say Quants for example having a bad week for GBP/JPY , other pairs with Quants could go south as well. Therefor it could create massive drawdowns some weeks resulting, loosing a bigshare of your capitol or profits if not all your money.
For me, quants drawdowns are way too large and much riskier unless I trade mini lots on a $50000 account.
Just my idea