Take care Fx-auto!!

T

Terry_G

I was very glad when Fx-auto started launching their auto trading platform. The are really professional in auto trading and their portfolio builder is very useful for any trader who wants to picks up signals from different providers.
Anyway, i believe that things can't go well forever :(
Fx-auto are adding too many systems to their portfolio which started to affect their credibility in negative way. 500 systems is really too much....anyone can build 2 sites offering signals and he can just send any signals and then go opposite and one of his systems will easily get on top of Fx-auto list!!!

I believe that some dishonest signal providers started to use Fx-auto to hunt more clients for their service which is worthless.!

Can Fx-auto explain to me the following results for Janusry 2007

The best 2 systems:
-- Clayburg EUR/USD +1540
-- Enterprise forex EUR/USD +1046

Now go down the list to the worest performance and you will be surprised to know that the worest losers in same period are...
-- Clayburg GBP/USD -1035
-- Enterprise forex GBP/USD -975

Isn't it funny???? Those traders from clayburg and enterprise forex can't make similar performance in 2 highly correlated pairs (EUR/USD and GBP/USD)

I guess the trick is clear to everyone... those providers are cheating... they don't offer real service based on analysis they just send opposite signals on 2 highly correlated pairs and make as many trades as they can. At the end, one of their systems will climb on the top and the other will be on the buttom. Their system on the top of the list will attract some new comers and those cheating providers will start to suck commision pips from their victimes until they find out that they are losers but new comers will get on board and the cycle will continue as long as Fx-auto is hosting such scams.
I know some people who believe that Fx-auto is involved in this big game and they already run some services which are listed on the top of their performance site. I don't think that fx-auto is directly involved in this scam but i believe that sooner or later they will be under some legal responsibility.

I no longer take that performance of fx-auto systems seriously.
I'm very disappointed with Fx-auto...
 
Hi Terry,
First thing we would like the names of the people who is accusing us of running a scam, our legal people would like to have a talk with them for making such ridiculous allegations.

Are you trying to discredit a man with 20 years system building experience, published a book on Trading,developer of the cyclone S+P system ranked #1 By Futures Truth, and systems developed for finance houses accross the US?

Back to your point, you are taking one month in isolation, there are simple not enough data points in 19 days to make any rational decisions. Looking over a longer timeframe (3 months)
Multiphase:
EURUSD: 4383pips
GBPUSD: +18pips

Enterprise has similar performance over this time.

Quote "anyone can build 2 sites offering signals and he can just send any signals and then go opposite and one of his systems will easily get on top of Fx-auto list!!!"

Not worth commenting on, if you thought this through you would realise it is not feasible.



I was very glad when Fx-auto started launching their auto trading platform. The are really professional in auto trading and their portfolio builder is very useful for any trader who wants to picks up signals from different providers.
Anyway, i believe that things can't go well forever
Fx-auto are adding too many systems to their portfolio which started to affect their credibility in negative way. 500 systems is really too much....anyone can build 2 sites offering signals and he can just send any signals and then go opposite and one of his systems will easily get on top of Fx-auto list!!!

I believe that some dishonest signal providers started to use Fx-auto to hunt more clients for their service which is worthless.!

Can Fx-auto explain to me the following results for Janusry 2007

The best 2 systems:
-- Clayburg EUR/USD +1540
-- Enterprise forex EUR/USD +1046

Now go down the list to the worest performance and you will be surprised to know that the worest losers in same period are...
-- Clayburg GBP/USD -1035
-- Enterprise forex GBP/USD -975

Isn't it funny???? Those traders from clayburg and enterprise forex can't make similar performance in 2 highly correlated pairs (EUR/USD and GBP/USD)


I guess the trick is clear to everyone... those providers are cheating... they don't offer real service based on analysis they just send opposite signals on 2 highly correlated pairs and make as many trades as they can. At the end, one of their systems will climb on the top and the other will be on the buttom. Their system on the top of the list will attract some new comers and those cheating providers will start to suck commision pips from their victimes until they find out that they are losers but new comers will get on board and the cycle will continue as long as Fx-auto is hosting such scams.
I know some people who believe that Fx-auto is involved in this big game and they already run some services which are listed on the top of their performance site. I don't think that fx-auto is directly involved in this scam but i believe that sooner or later they will be under some legal responsibility.

I no longer take that performance of fx-auto systems seriously.
I'm very disappointed with Fx-auto...
 
Yes Terry G, your allegation was a bit silly - they would have to send ALL their good signals to one account and all their bad signals to the other account, so the scam you are accusing them of is just not possible.

It seems to me that for both suppliers you mention, their systems work better on the eurusd than on the gbpusd, so we should trade them on the eur, not the gbp. :D
 
I'm not accusing Fx-auto of being a scam. I just think that Fx-auto started to be heaven for scammers who want to collect some money from selling signals. Just create a website and get it listed in fx-auto and then send opposite signals on 2 correlated pairs and you will get one of your pairs on top of the month performance! If you are too unlucky and you loose on both pairs then try again next month with a new name! Do you see how many systems they have??? 500 systems!!! I never saw so many forex systems until fx-auto appeared.
 
Yes, there are a lot of system providers, nearly one-third making a profit, one-third making no trades yet and over one-third losing.
Since FXDD are encouraging us to invest $ in these systems, it would be reasonable for us to expect that FXDD has put them through some form of quality check.

FXDD, please tell us what you require of a signal provider. At least a street address, not just a PO Box number, I would guess, but what else?
 
Hi Guys,
First, TerryG it is not logical or feasible to assume that by going long Euro and short GBP all the time that one pair will have +'000s of pips and the other -'000s of pips. Why would one outperform the other? Unless, there was very strong trend in one of the pairs in which case you wouldnt need to hedge at all. It is not a rational argument at all, in the markets over the last number of years, the long euro and short GBP would both end up flat to negative after the spread.

Barry, based on your observation of our systems that are trading, half are winning and half are losing. Surely that is acceptable in a market where statistical information has demonstrated only 5% of FX traders are making money.

Which gives you more hope? A 50% chance or 5%.
 
I am interested in opening a dialog with your company for providing automated signals. What would it take to get started?

Also do you provide an API so that we could integrate auto trade into our own proprietary trading platform? We provide actual statistics based on fills that the system receives rather than hypothetical results. In other words, our system says buy - it then sends the order to the auto trade and then when the reporting of the fill comes back the fill is posted on the chart as a arrow showing the actual entry. Could you pass along any information to me if your interested.

Mark Brown
 
Hi Mark,
Someone will contact you in next 48 hours regarding a cooperation with our firm.
We have our own proprietary API for signal execution from any system.
'


I am interested in opening a dialog with your company for providing automated signals. What would it take to get started?

Also do you provide an API so that we could integrate auto trade into our own proprietary trading platform? We provide actual statistics based on fills that the system receives rather than hypothetical results. In other words, our system says buy - it then sends the order to the auto trade and then when the reporting of the fill comes back the fill is posted on the chart as a arrow showing the actual entry. Could you pass along any information to me if your interested.

Mark Brown
 
Hi Piper,
Yes, you are able to trade any FX system from collective2 on our platform also.
The major difference is you will need to pay to subscribe to the signals in addition to the 1 pip commission, money management and system selection is done from collective2 website not the autotrading platform.
All you need if the fx-auto username and password.
It is not available in Demo mode, only LIVE.
 
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