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VIDEO #5: Fake Myfxbook accounts

Discussion in '5 Forex Scams Used in EAs, Indicators and Signals' started by Ea-Coder, Dec 19, 2016.

  1. Ea-Coder

    Ea-Coder EA-Coder.com Representative

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    Thanks, Dave. You too have a great Xmas holiday ;-)
     
  2. Ryang123

    Ryang123 Private

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    Just gotta be careful with the last two.
     
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  3. marcesimas1972

    marcesimas1972 Recruit

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    Hey Rimantas,

    Many thanks for the useful information. I’m always impressed about how you show the importance of many small details. I’ve been wondering the difference between gains and absolute gains, for example.

    All the Best!
     
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  4. Ea-Coder

    Ea-Coder EA-Coder.com Representative

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    Thanks for your feedback.

    The difference in Gain and Abs. Gain appears when account is funded with more money later after some trading is done already.
    Imagine if you double your $100 account bringing account balance to $200 total and then you fund additional $10k.
    For many people it might look that you've doubled your 10k account, but it's actually not the case.

    Hope it helps.
     
  5. gem270575

    gem270575 Recruit

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    Dear Mr.Rimantas

    Myfxbook risk disclosoure says the live account results will be always muchworser than demo ones, i am afraid from this.

    Is it advisible to use myfxbook auto trade systems?
     
  6. Ea-Coder

    Ea-Coder EA-Coder.com Representative

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    I haven't used their autotrade systems, so honestly I cannot comment on this. I cannot recommend anything I didn't use myself.
    It's quite usual thing that in the "sandbox" (or demo account) things tend to go easier comparing with live trading environment. And Myfxbook is required to explain this, because there's such possibility that live account will perform worse than demo account.
     
  7. gem270575

    gem270575 Recruit

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    Thanks a lot for your prompt response,

    Sorry for bothering you,

    For auto trading, do you know other options than myfxbook,

    From your company do you have any autotrading systems?
     
  8. Ea-Coder

    Ea-Coder EA-Coder.com Representative

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    To be honest, I trust only automated systems created by myself. And I actually teach the creation process in Autotrading Academy's famous "Trading Strategy Launch Framework" training program. You can learn about it in our webinar.

    Webinar about Algotrading strategy development without programming.

    I do have my own automated systems too, but I mostly use them on my own trading accounts. However I have a few available to public. PM me for more information.
     
  9. linksandc

    linksandc Recruit

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    ok, so now myfxbook can also be not real if they show it.
    nice to know.
     
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  10. feaisland55

    feaisland55 Corporal

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    Rimantas--so all those 60% returns on MyFxBook aren't quite real. i guess that's why customers write in and ask why they're not mirroring the EA's advertised returns. golly! keep up the good sleuthing, Rimantas!--feaisland55
     
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