Discuss AutoFxMillionaire.com (Matthew Burton)

[VictorLamTL]

I think this is just a copy of the feed from

ZuluTrade - Signal Provider Performance - Sharper Trader

and

ZuluTrade - Signal Provider Performance - Shooting Pips

So basically, AutoFxMillionaire are receiving these free trade signals on ZuluTrade and then using a trade copier written by ea-trader.com to send them to your EA.

A great business model for Matthew Burton, if he even exists.

Bottom line I'm cancelling my subscription and joining Zulu trade which costs nothing.

Hi Mikey,

It's correct that the EA combine the free Top1 and Top2 signals provided by ZuluTrade. I knew you're unsubscribe the EA, but how can you automate your trade by reading the signals on Zulu page. The beautiful of the EA is hand free. What is your opinion?

 

[Rollieroger]

Zulutrade

For those of you not familiar with Zulutrade, the trades are made automatically in your account. It costs 1 pip per trade. So, depending on the size of your account, you can compare costs.

I think it is apparent that you need to have a couple thousand dollars to trade this EA to avoid the dramatic drawdowns.

Note, when trading a scalping strategy, you will have drawdowns. If you can weather the drawdowns, they will come back (most of the time).

Rollieroger

 

[Kiran Thomas C]

what a recovery

Wow amazing .......back to normal with a nominal loss ,still trades are on,Importantly money management helped me to keep the account alive .

Thank God ,I didn't close any of my positions manually ,I know there will be many people who lost the account who has followed the instructions in the manual .

Sorry to see that

 

[Carlscott1982]

I knew this had the stink of Zulutrade about it.
I used to trade with Zulutrade providers for about a year until I realise that absolute none of them make any money whatsoever. Search the web, you won't find anyone who has had any long-term success with Zulutrade.

So surely, if this 'EA' is just a feed from Zulutrade, some law is being broken somewhere...? I just resent the fact we were lied to so blatantly. Why does everyone involved in FOREX have to be a scammer??

 

[Rollieroger]

Trend line

Here we approach the weekly trend line on a retest. This is the important one. If it fails, look out below. But, then you only know if it is a failure at the close of the week. There is a long time between now and Friday.

My guess is that the trendline will hold. There seems little hope for the US side, with Romney putting out his jobs plan today or tomorrow and Obama on Thursday. The Euro is in sad shape and so is the USD. The only thing that could really change things is if the select congressional deficit committee can really work together to make some reductions in the deficit. I am not holding my breath, rather am trying to make some money in spite of the mess.

I got a little spooked by the rapid rise in the EURUSD early this morning (EST) and went ahead and closed out my SPY puts. The one in my investment account closed out at 90% profit and the one in my IRA closed out at 81%. Some are calling 1100 a point of support on the S&P500. Actually these gains have eased the pain of the drawdown with AutoFX Millionaire aka Zulutrade #1 and #2. My drawdown is not quite 10% right now so I am not in panic mode yet.:err:

Rollieroger

 

[branmanfxtrader]

I have used a demo for 1 week.

Starting capital of $1000 and lot sizes of 0.1

I only had 12 trades activated on my account against alot more on the master trades.

I finished the week with $83 in the account!

There seems to be conflicting posts on this. Some seem to be doing ok but others are getting wiped out quite quickly.

I wonder whether its worth one of our senior members offering advise to us on what lot sizes we should be using for a given capital amount?

This goes for trading period, use these figures that I have below if your going to use this EA or Zulu, it's all the same except on Zulu in settings you can control your lot size , amount of any trades to be open at any one time, set stop limits and with Auto FX, which seems to be stolen goods you have to manually watch and close out trades if they go against you.

For every $1000 here is the risk and lot size to use.
Only risk 5% at any given time on the total balance on your account and only use 1% of your total trading balance on any 1 trading idea (any single trade or pair)

$1,000 - @ 5% risk = $50, use .01 as lot size= $.10cents (500pips risk {500x.10 cents=$50}) Only have 5 positions open at any given time =100 pips/ lot for stop.
$2,000 - @ 5% risk = $100, use .02 as lot size= $.20cents (500pips risk {500x.20 cents=$100}) Only have 5 positions open at any given time =100 pips/ lot for stop.
$3,000 - @ 5% risk = $150, use .03 as lot size= $.30cents (500pips risk {500x.30 cents=$150}) Only have 5 positions open at any given time =100 pips/ lot for stop.
$4,000 - @ 5% risk = $200, use .04 as lot size= $.40cents (500pips risk {500x.10 cents=$200}) Only have 5 positions open at any given time =100 pips/ lot for stop.
$5,000 - @ 5% risk = $250, use .05 as lot size= $.50cents (500pips risk {500x.10 cents=$50}) Only have 5 positions open at any given time =100 pips/ lot for stop.
$6,000 - @ 5% risk = $300, use .06 as lot size= $.60cents (500pips risk {500x.10 cents=$50}) Only have 5 positions open at any given time =100 pips/ lot for stop.
$7,000 - @ 5% risk = $350, use .07 as lot size= $.70cents (500pips risk {500x.10 cents=$50}) Only have 5 positions open at any given time =100 pips/ lot for stop.
$8,000 - @ 5% risk = $400, use .08 as lot size= $.80cents (500pips risk {500x.10 cents=$50}) Only have 5 positions open at any given time =100 pips/ lot for stop.
$9,000 - @ 5% risk = $450, use .09 as lot size= $.90cents (500pips risk {500x.10 cents=$50}) Only have 5 positions open at any given time =100 pips/ lot for stop.
$10,000 - @ 5% risk = $500, use 1.00 as lot size= $1.00 Dollar (500pips risk {500x.10 cents=$50})Only have 5 positions open at any given time =100 pips/ lot for stop.

Do not use the suggested lot size that the EA uses below, it will blow out your account:

Use lot = 0.01 for deposits less than $1000
Use lot = 0.1 for deposit from $1001 to $4999
Use lot = 0.5 for deposit from $5000 to $9999
Use lot = 1 for deposit $ 10K and above.

As you can see these limits are staggered at every $1,000 and will keep you in the trade as long as you stay to the rules. Do not exceed 5 open trades at any given time unless you reduce the pips size. Ex: If you have 10 open trades at any given time of which this EA seems like it does then you adjust your stop loss now to 50 pips / lot which is still keeping in your rule of not exceeding more than 5% / lot. This can and is being done in thousands of trading accounts to keep profitable. Using the suggested lot size that Auto FX Millionaire is disastrous. That's what Demo accounts are for, to learn from how the EA works and it's nature. This one seems to have a huge draw down at any given time and seems like it is trading martingale or grids. You can also manually close out any trades in your EA to keep in your stop. Also you can turn it off and turn it on when you need to. Overall, I think this EA has potential , seems like the server errors are fixed now need to watch it until 8/19/2011 which is my 30 evaluation of this EA.
Thanks,

 

[Jas55]

Branmanfxtrader

Branmanfxtrader, many thanks for that info. I'm sure it's going to be really helpful to us all.

Has anyone seen the test being done on this ea by forexverified?

It does not make pleasant reading!!

 

[branmanfxtrader]

Stop Loss and Lot Size Usage on This or any other EA!!!

Branmanfxtrader, many thanks for that info. I'm sure it's going to be really helpful to us all.

Has anyone seen the test being done on this ea by forexverified?

It does not make pleasant reading!!

Your welcome, exactly why I made it up. Now, if you go by my chart and look at the net pips that that account is down by -707 pips , instead of trading 1.0 lot size, it would of been only a $707 loss without using any manual stop which is only a 7.07% loss of the entire account balance but if you would of used my trading rules of never letting the account run pass 5%, you would of manually set 50 pip stop loss or closed out the loosing lots that were past your 5% rule when your account had those 10 trades open at once.

I'm still testing this out on a demo account as of yesterday at MT4i - mbtrader2 on the proposed lot settings that I have and I'm only down by $47.20 which is .00472% , well within my 1% rules of not trading on any 1 idea and deep within 5% ($500) of the account balance. The original setting by the seller blew out the 1st Demo as expected and to prove the point that their suggestions were bogus.

I said that no one should of been trading this on a live account until you saw the nature of this EA, only bringing out 1 thing and that is greed. This is what I said on another forum , donnaforex.com , just yesterday about this topic from The New Market wizards. The question ask was about rules of lot size.

" I was also thinking in doing the same, put a manual S/L. 75pips sound good, but question is, will it be big enough room for the market to move or is it to big - maybe 50pips?

The answer to this question is , Is this proposed stop loss more than or equal to 1% of your account? Is the total amount of trades open equal to 5% of your accounts? Professional traders trade along these lines.
I had a demo open testing lot size on this EA and it got blew out from $10K to over $16.5K and I was getting roughly $10 for each pip in the beginning then before the Master Trade took the E/U and E/J trades I increased to 1.5 or $15 a pip, this caused it to blow out the account.

I was reading one of my 2 favorite books this weekend, The New Market Wizards and the other being Trading In The Zone, by Mark Douglas, and in Mark Ritchie's interview he was ask "I assume this sensitivity to trading too large or letting losses get out of line is one of the ingredients that has made you successful" His answer to that question was, "Absolutely. Magnitude of losses and profits is purely a matter of position size. Controlling position size is indespensable to success. Of all the traits to trade successfully, this factor is the most undervalued. As soon as you mention position size you are bringing up the topic of greed.... A person must look inside for these answers. But it would be foolish to overlook the human vice of greed. The successful trader must be able to recognize and control his greed. If you get a buzz from profits and depressed by losses , you belong in Las Vegas, not the markets.".

This is where we need to be in our trading. Do not use this EA as a answer to your problems monetarily, use it as a companion to your own ability to trade. Set your position size should seem so low that it should seem like a waste of your time.
------------------------------------------------------------------
On the technical of the E/U, it is sitting on the weekly S1 on the Daily where strong support is, Stochastic looks like it is about to turn up, oversold and the CCI is turn up as well and is below -100. This market should turn up to at least the 38.2 Fib level of 1.4243 in a few days hopefully, no one knows because no one has a crystal ball. The E/J is along these same lines because of the EUR."

 

[rob59]

I knew this had the stink of Zulutrade about it.
I used to trade with Zulutrade providers for about a year until I realise that absolute none of them make any money whatsoever. Search the web, you won't find anyone who has had any long-term success with Zulutrade.

So surely, if this 'EA' is just a feed from Zulutrade, some law is being broken somewhere...? I just resent the fact we were lied to so blatantly. Why does everyone involved in FOREX have to be a scammer??

Master Trades
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do not match for today at least

Trades on Server platform (20 of total 99; 1 to 20) 2011-09-06 21:29:26
Trade Ticket Status Symbol Order Type Open Time [Server EA broker time] Open Price Lot Size Stop Loss Take Profit Close Time [Server EA broker time] Close Price
Show deleted pending orders
Enable Sound Alerts
28387563 Open GBPUSD SELL LIMIT 2011-09-06 23:00:07 1.59570 0.01 0.00000
0.0 pips 0.00000
0.0 pips 0000-00-00 00:00:00
28387526 Open GBPUSD BUY LIMIT 2011-09-06 23:00:06 1.59280 0.01 0.00000
0.0 pips 0.00000
0.0 pips 0000-00-00 00:00:00
28360307 Close EURUSD BUY 2011-09-06 12:09:29 1.41760 0.01 0.00000
0.0 pips 1.46760
500.0 pips 2011-09-06 12:15:12 1.41815
PL: 5.5 pips
28360235 Close EURUSD BUY 2011-09-06 12:08:49 1.41790 0.01 1.36780
501.0 pips 1.46780
499.0 pips 2011-09-06 12:15:10 1.41825
PL: 3.5 pips
28360194 Close EURUSD BUY 2011-09-06 12:08:33 1.41780 0.01 1.36790
499.0 pips 1.46790
501.0 pips 2011-09-06 12:15:11 1.41824
PL: 4.4 pips
28326293 Close USDCAD SELL 2011-09-06 01:52:58 0.99150 0.01 0.00000
0.0 pips 0.99000
15.0 pips 2011-09-06 05:38:19 0.99062
PL: 8.8 pips
28319507 Close USDCAD SELL 2011-09-05 19:08:56 0.99110 0.01 0.00000
0.0 pips 0.98980
13.0 pips 2011-09-05 23:58:25 0.99007
PL: 10.3 pips
28313875 Close USDCAD SELL 2011-09-05 16:22:47 0.99300 0.01 0.00000
0.0 pips 0.98900
40.0 pips 2011-09-05 18:09:49 0.99013
PL: 28.7 pips
28312323 Open EURUSD BUY 2011-09-05 16:01:08 1.40800 0.01 1.35740
506.0 pips 1.42000
120.0 pips 0000-00-00 00:00:00
28303410 Close EURUSD BUY 2011-09-05 12:11:49 1.41390 0.01 1.36390
500.0 pips 1.42000
61.0 pips 2011-09-06 10:02:33 1.42000
PL: 61.0 pips
28256254 Close EURJPY BUY 2011-09-02 08:50:31 109.350 0.01 0.000
0.0 pips 110.180
83.0 pips 2011-09-06 11:37:48 109.740
PL: 39.0 pips
28253291 Close GBPUSD SELL 2011-09-02 06:51:20 1.61930 0.01 0.00000
0.0 pips 0.00000
0.0 pips 2011-09-02 07:49:48 1.61761
PL: 16.9 pips
28250355 Close GBPUSD SELL 2011-09-02 03:13:50 1.61950 0.01 0.00000
0.0 pips 0.00000
0.0 pips 2011-09-02 05:26:34 1.61796
PL: 15.4 pips
28246013 Close GBPUSD SELL 2011-09-01 23:00:06 1.61950 0.01 0.00000
0.0 pips 0.00000
0.0 pips 2011-09-02 05:01:46 1.61856
PL: 9.4 pips
28240133 Open EURUSD BUY 2011-09-01 17:45:29 1.42400 0.01 1.37630
477.0 pips 1.43000
60.0 pips 0000-00-00 00:00:00
28235559 Open EURJPY BUY 2011-09-01 16:15:35 109.780 0.01 0.000
0.0 pips 110.180
40.0 pips 0000-00-00 00:00:00
28227246 Open EURJPY BUY 2011-09-01 12:48:25 110.050 0.01 0.000
0.0 pips 110.320
27.0 pips 0000-00-00 00:00:00
28227155 Open EURJPY BUY 2011-09-01 12:46:23 110.050 0.01 0.000
0.0 pips 110.320
27.0 pips 0000-00-00 00:00:00
28227079 Open EURJPY BUY 2011-09-01 12:45:08 110.070 0.01 0.000
0.0 pips 110.320
25.0 pips 0000-00-00 00:00:00
28226577 Close GBPJPY SELL 2011-09-01 12:30:45 124.970 0.01 0.000
0.0 pips 124.860
11.0 pips 2011-09-01 12:41:28 124.890
PL: 8.0 pips
[1] [2] [3] [4] [5] [next]
Open trade
Trade closed in profit
Trade closed in loss
Pending order (cancelled)
Trade closed from the website
Open Time and Close Time may be different because brokers use different time zone
Open Price and Close Price may be different because of the slippage. Also note that brokers have different price feeds, spreads, stop levels, etc. The same trade on your account can hit stop loss earlier than the trade on master account


zulutrade


Date Open Open Stop Limit Current pips
GBP/JPY SELL 1 2011-09-06 08:08:00 123.86 0 123.689 123.761 9.9
EUR/JPY BUY 1 2011-09-02 06:50:00 109.339 0 109.764 108.67 -66.9
EUR/JPY BUY 1 2011-09-01 02:15:00 109.764 0 110.175 108.67 -109.4
EUR/JPY BUY 1 2011-09-01 10:48:00 110.039 0 110.319 108.67 -136.9
EUR/JPY BUY 1 2011-09-01 10:46:00 110.048 0 110.319 108.67 -137.8
EUR/JPY BUY 1 2011-09-01 10:45:00 110.061

 

[HogDustWillie]

Master Trades
Your Trades
Getting Started
FAQ
Profile
Downloads
Upgrade
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Support
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do not match for today at least

Trades on Server platform (20 of total 99; 1 to 20) 2011-09-06 21:29:26
Trade Ticket Status Symbol Order Type Open Time [Server EA broker time] Open Price Lot Size Stop Loss Take Profit Close Time [Server EA broker time] Close Price
Show deleted pending orders
Enable Sound Alerts
28387563 Open GBPUSD SELL LIMIT 2011-09-06 23:00:07 1.59570 0.01 0.00000
0.0 pips 0.00000
0.0 pips 0000-00-00 00:00:00
28387526 Open GBPUSD BUY LIMIT 2011-09-06 23:00:06 1.59280 0.01 0.00000
0.0 pips 0.00000
0.0 pips 0000-00-00 00:00:00
28360307 Close EURUSD BUY 2011-09-06 12:09:29 1.41760 0.01 0.00000
0.0 pips 1.46760
500.0 pips 2011-09-06 12:15:12 1.41815
PL: 5.5 pips
28360235 Close EURUSD BUY 2011-09-06 12:08:49 1.41790 0.01 1.36780
501.0 pips 1.46780
499.0 pips 2011-09-06 12:15:10 1.41825
PL: 3.5 pips
28360194 Close EURUSD BUY 2011-09-06 12:08:33 1.41780 0.01 1.36790
499.0 pips 1.46790
501.0 pips 2011-09-06 12:15:11 1.41824
PL: 4.4 pips
28326293 Close USDCAD SELL 2011-09-06 01:52:58 0.99150 0.01 0.00000
0.0 pips 0.99000
15.0 pips 2011-09-06 05:38:19 0.99062
PL: 8.8 pips
28319507 Close USDCAD SELL 2011-09-05 19:08:56 0.99110 0.01 0.00000
0.0 pips 0.98980
13.0 pips 2011-09-05 23:58:25 0.99007
PL: 10.3 pips
28313875 Close USDCAD SELL 2011-09-05 16:22:47 0.99300 0.01 0.00000
0.0 pips 0.98900
40.0 pips 2011-09-05 18:09:49 0.99013
PL: 28.7 pips
28312323 Open EURUSD BUY 2011-09-05 16:01:08 1.40800 0.01 1.35740
506.0 pips 1.42000
120.0 pips 0000-00-00 00:00:00
28303410 Close EURUSD BUY 2011-09-05 12:11:49 1.41390 0.01 1.36390
500.0 pips 1.42000
61.0 pips 2011-09-06 10:02:33 1.42000
PL: 61.0 pips
28256254 Close EURJPY BUY 2011-09-02 08:50:31 109.350 0.01 0.000
0.0 pips 110.180
83.0 pips 2011-09-06 11:37:48 109.740
PL: 39.0 pips
28253291 Close GBPUSD SELL 2011-09-02 06:51:20 1.61930 0.01 0.00000
0.0 pips 0.00000
0.0 pips 2011-09-02 07:49:48 1.61761
PL: 16.9 pips
28250355 Close GBPUSD SELL 2011-09-02 03:13:50 1.61950 0.01 0.00000
0.0 pips 0.00000
0.0 pips 2011-09-02 05:26:34 1.61796
PL: 15.4 pips
28246013 Close GBPUSD SELL 2011-09-01 23:00:06 1.61950 0.01 0.00000
0.0 pips 0.00000
0.0 pips 2011-09-02 05:01:46 1.61856
PL: 9.4 pips
28240133 Open EURUSD BUY 2011-09-01 17:45:29 1.42400 0.01 1.37630
477.0 pips 1.43000
60.0 pips 0000-00-00 00:00:00
28235559 Open EURJPY BUY 2011-09-01 16:15:35 109.780 0.01 0.000
0.0 pips 110.180
40.0 pips 0000-00-00 00:00:00
28227246 Open EURJPY BUY 2011-09-01 12:48:25 110.050 0.01 0.000
0.0 pips 110.320
27.0 pips 0000-00-00 00:00:00
28227155 Open EURJPY BUY 2011-09-01 12:46:23 110.050 0.01 0.000
0.0 pips 110.320
27.0 pips 0000-00-00 00:00:00
28227079 Open EURJPY BUY 2011-09-01 12:45:08 110.070 0.01 0.000
0.0 pips 110.320
25.0 pips 0000-00-00 00:00:00
28226577 Close GBPJPY SELL 2011-09-01 12:30:45 124.970 0.01 0.000
0.0 pips 124.860
11.0 pips 2011-09-01 12:41:28 124.890
PL: 8.0 pips
[1] [2] [3] [4] [5] [next]
Open trade
Trade closed in profit
Trade closed in loss
Pending order (cancelled)
Trade closed from the website
Open Time and Close Time may be different because brokers use different time zone
Open Price and Close Price may be different because of the slippage. Also note that brokers have different price feeds, spreads, stop levels, etc. The same trade on your account can hit stop loss earlier than the trade on master account


zulutrade


Date Open Open Stop Limit Current pips
GBP/JPY SELL 1 2011-09-06 08:08:00 123.86 0 123.689 123.761 9.9
EUR/JPY BUY 1 2011-09-02 06:50:00 109.339 0 109.764 108.67 -66.9
EUR/JPY BUY 1 2011-09-01 02:15:00 109.764 0 110.175 108.67 -109.4
EUR/JPY BUY 1 2011-09-01 10:48:00 110.039 0 110.319 108.67 -136.9
EUR/JPY BUY 1 2011-09-01 10:46:00 110.048 0 110.319 108.67 -137.8
EUR/JPY BUY 1 2011-09-01 10:45:00 110.061

Those zulu trades are the trades that are currently open .. compare them to the ones fron auto fx that are open. look at the closed zulu trades to compare them to the ones you listed. The guy at autofx is stealing the free signal at zulu and charging you $37 for it, plain and simple.