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Setting Up with Fx-Auto
- Thread starter fx-auto
- Start date
Hi, how many pairs can I put to my portfolio, 20 or 40 now? Today I recieved this e-mail: " FXDDAuto allows you to:
* Trade FX 24-hours a day with signals from over 50 systems
* TRADE UP TO 40 PAIRS AT THE SAME TIME
* Trade from $10K lot upwards
* Design and test portfolios using real-time and historical data with no complex programming required
* Trade FX 24-hours a day with signals from over 50 systems
* TRADE UP TO 40 PAIRS AT THE SAME TIME
* Trade from $10K lot upwards
* Design and test portfolios using real-time and historical data with no complex programming required
The big problem I see with this system has to do with money management.
In order for the client to have full control of money management I think that the platform should allow for the client to chose not only the lot size, but also the maximum number of open positions for each system/pair he/she wishes to trade, regardless of the number of positions the provider has decided to open for that currency pair.
It seems to me that if a signal provider can have any number of open positions on a particular pair at any given time, that makes the client choice of the lot size almost meaningless.
If the client chooses 0.1 lot for a particular pair, and the provider decides to have ten open positions on that pair, that would be the equivalent of the client having picked 1 full lot.
In order for the client to have full control of money management I think that the platform should allow for the client to chose not only the lot size, but also the maximum number of open positions for each system/pair he/she wishes to trade, regardless of the number of positions the provider has decided to open for that currency pair.
It seems to me that if a signal provider can have any number of open positions on a particular pair at any given time, that makes the client choice of the lot size almost meaningless.
If the client chooses 0.1 lot for a particular pair, and the provider decides to have ten open positions on that pair, that would be the equivalent of the client having picked 1 full lot.
Hi Sarang,
First, the signal provider can only open to the max number of positions as stated in the portfolio builder tab. Six is the maximum positions that some of the systems are using, many only use one position and others two. The client need to allow for this "Max number of positions" when defining their money management. Signal provider will not open 10 positions if max positions is set to 2.
We cannot and will not let client decide the max number of positions for a system because it is an inherent design to that system and requires these number of positions to perform correctly. Some systems have different time frames for each pair, short term, medium or long term. It will not be possible to replicate results unless you are following the system correctly.
If you do not want to open multiple positions at same time, then you need to use a system only opening one position maximum.
The big problem I see with this system has to do with money management.
In order for the client to have full control of money management I think that the platform should allow for the client to chose not only the lot size, but also the maximum number of open positions for each system/pair he/she wishes to trade, regardless of the number of positions the provider has decided to open for that currency pair.
It seems to me that if a signal provider can have any number of open positions on a particular pair at any given time, that makes the client choice of the lot size almost meaningless.
If the client chooses 0.1 lot for a particular pair, and the provider decides to have ten open positions on that pair, that would be the equivalent of the client having picked 1 full lot.
First, the signal provider can only open to the max number of positions as stated in the portfolio builder tab. Six is the maximum positions that some of the systems are using, many only use one position and others two. The client need to allow for this "Max number of positions" when defining their money management. Signal provider will not open 10 positions if max positions is set to 2.
We cannot and will not let client decide the max number of positions for a system because it is an inherent design to that system and requires these number of positions to perform correctly. Some systems have different time frames for each pair, short term, medium or long term. It will not be possible to replicate results unless you are following the system correctly.
If you do not want to open multiple positions at same time, then you need to use a system only opening one position maximum.
The big problem I see with this system has to do with money management.
In order for the client to have full control of money management I think that the platform should allow for the client to chose not only the lot size, but also the maximum number of open positions for each system/pair he/she wishes to trade, regardless of the number of positions the provider has decided to open for that currency pair.
It seems to me that if a signal provider can have any number of open positions on a particular pair at any given time, that makes the client choice of the lot size almost meaningless.
If the client chooses 0.1 lot for a particular pair, and the provider decides to have ten open positions on that pair, that would be the equivalent of the client having picked 1 full lot.
Quote from fx-auto:
Hi Sarang,
Signal provider will not open 10 positions if max positions is set to 2.
I appreciate your reply. Of course 10 positions was just an extreme example, and there would be no problem if the provider would stay within the stated max number of positions. Unfortunately my short experience with my demo account doesn't support your statement. For instance, I picked Ubertrading.com GBPJPY for my portfolio based in part on the fact that the stated max position was 2.
However, on 2/6/2007 six long positions were opened between 2:00 and 2:01. The ticket numbers are 5348213/232/231/230/226/229.
All six positions remained open for at least 2.5 hours. Apparently the Max Position stated under "Available Systems" is something that can change at any time at the provider's discretion and without notice to the client, and that is where I have a problem.
Quote from fx-auto:
Hi Sarang,
This is not the case anymore.Signal Providers are required to provide 2 weeks notice if they are the number of max decisions so all clients can be informed and adjust accordingly.
I am sorry but I am still trying to understand the meaning of "if they are the number of max decisions" from your quote above. No matter, it seems that all of a sudden you are announcing a brand new policy.
In your previous post you stated: "First, the signal provider can only open to the max number of positions as stated in the portfolio builder tab."
That means that fx-auto had already a policy in place. Why fx-auto was not implementing the existing policy?
When did this new policy begin?
Please consider that the Ubertrading.com's open positions in a number way above the stated maximum number happened only 3 days ago.
How can we be sure that fx-auto is going to enforce this new policy if it didn't enforce the previous one?
I am somewhat disappointed by this answer. It means that no one looks at the signals. There are some systems that deliberately make duplicate trades ALWAYS for each trade (short,medium and long term trades; within a minute and within a few pip difference, when the holding period is several hours or days). Most of the time, the medium and short term entries themselves are duplicates. So, one can see upto 4 duplicated trades often with no difference (except in name). The system is good, but it reduces our risk management and forces us to concentrate too much in one pair than one would like. If you want the name, I can give and the history can be checked. If we have to just leave those, then the choice becomes limited. This has been a major problem for me to reconsider my decision to open an account. Because diversification will be a big problem, if a portfolio is to be made with good systems.
-chandra
-chandra
Some systems have different time frames for each pair, short term, medium or long term. It will not be possible to replicate results unless you are following the system correctly.
Yes, as all the above members said, it is too risky to open a live account that we can not control and pick up the right signals as we want!
As you see, in the under picture, there are 16 Clayburg & Enterprise were pending at the same time. And there are only 9 types of signal providers in this picture, but the tickets number is as higher as 26! I fixed Lot at 0.1, but Clayburg once open 2 orders at the same time , same term and same open price! This means even though I select 0.1 Lot fixed, I also will be forced to 0.2 Lot at each open time?! And you said they are only allowed to open orders, which number under the max positions they provided. But why this picture shows 8 Clayburg were pending at the same time? Do you means that each type, which is long term, mid term and short term, could be allowed to open 6 positions at the same time? That means we may even see 18 tickets are openning and pending at the same time just by one signal provider!!! What a horrible situation! As we know the minimun Lot in FXDD is 0.1 so if we have selected Clayburg, the safest number of lots we should consider is 1.8 Lot. If we start our portfolio at $2500, then we may better not select other signal providers. Because we may face that openning much more tickets than we can control and lead our account to explosion! Even though in live account I can close them by myself, I can not always watching them at my sleeping time.
As you see in the picture, today it was 26 tickets, maybe sometime it will reach the maximun 40 tickets that I do not expect. The only thing I can do is just pick 1 signal provider or 2 to lower the risk. Or I should put much more money into this system. Is this the purpose that your FXAUTO want?
I am sorry that I may misunderstand something. But as what I have seen these days through your system, the under picture shows there is actually still a hidden trouble(reaching the higher ticket number) that our members can not control by themself or not expect.
And I still have a question, do you self use your system? If this system so profitable, why you don't use it by yourself? If you use it, why not give some picture that show us how you manage your portfolio? If you can give some examples of your real experience during using your auto system. I think more and more people are happy to join and open a live account on your website.
As you see, in the under picture, there are 16 Clayburg & Enterprise were pending at the same time. And there are only 9 types of signal providers in this picture, but the tickets number is as higher as 26! I fixed Lot at 0.1, but Clayburg once open 2 orders at the same time , same term and same open price! This means even though I select 0.1 Lot fixed, I also will be forced to 0.2 Lot at each open time?! And you said they are only allowed to open orders, which number under the max positions they provided. But why this picture shows 8 Clayburg were pending at the same time? Do you means that each type, which is long term, mid term and short term, could be allowed to open 6 positions at the same time? That means we may even see 18 tickets are openning and pending at the same time just by one signal provider!!! What a horrible situation! As we know the minimun Lot in FXDD is 0.1 so if we have selected Clayburg, the safest number of lots we should consider is 1.8 Lot. If we start our portfolio at $2500, then we may better not select other signal providers. Because we may face that openning much more tickets than we can control and lead our account to explosion! Even though in live account I can close them by myself, I can not always watching them at my sleeping time.
As you see in the picture, today it was 26 tickets, maybe sometime it will reach the maximun 40 tickets that I do not expect. The only thing I can do is just pick 1 signal provider or 2 to lower the risk. Or I should put much more money into this system. Is this the purpose that your FXAUTO want?
I am sorry that I may misunderstand something. But as what I have seen these days through your system, the under picture shows there is actually still a hidden trouble(reaching the higher ticket number) that our members can not control by themself or not expect.
And I still have a question, do you self use your system? If this system so profitable, why you don't use it by yourself? If you use it, why not give some picture that show us how you manage your portfolio? If you can give some examples of your real experience during using your auto system. I think more and more people are happy to join and open a live account on your website.