ste_uk

OK silly question time....

Do the signal providers automatically trade for you, or do you manually have to make the trade from the info from the providers?

Cheers, ste

gaby

In this case of FXDD Auto , you can add the signals and they will automatically be traded (manual trading allowed too).

But generaly you can subscribe to a signal provider and you then evaluate the signals as you get them and trade yourself..

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opie999

Hi, ste. Welcome to NN forum!

I'm a stone cold fx noob and I have a boatload of silly questions. I'll research the simple ones myself but with all the expertise bouncing around these boards it's so much easier to just ask.

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Jude

anyone willing to write a tutorial for adding these signals to your trading platform for auto trading? It works almost the same like an EA right?

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Be Good!

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allinvain

Yes, I would strongly suggest that those of you starting with the minimum setup just 1 signal provider! I got greedy and now I'm down to $187 from $499 - not cool at all. Don't get visions of quick riches, choose a conservative signal provider with a proven track record of big wins and small losses. In the beginning I'd suggest going with a signal provider that makes big moves - meaning lots of pips per move.

Suffice it to say I've learned my lesson and once I deposit a few extra bucks in there to cover the minimum margin required to open 0.1 lot then I'm sticking with only 1 signal provider until my balance gets above the $1k mark.

allinvain

Oh yes you bet! you have to pay 1 pip no matter if you lose or win! Also don't forget the broker gets the spread too!

In the end the expenses will be high, but that's the price you pay if you don't know how to trade on your own.

allinvain

Well, if by "works the same like an EA" you mean that it automatically opens/closes positions for you, then yes, it does.

Also note that there is no "trading platform" the FXDD auto client is the "trading platform". Also from my understanding you can download the FXDD MT 3 platform and log into it to see what open positions you have - but most users prefer to use the FXDD Auto windows client software or use their web based software.

As for writing a tutorial, I don't think it's all that difficult to use their windows client software. You just basically go to "portfolio builder" and then on the left hand side select the signal provider you want, then click on add and it will appear in your "portfolio" list on the right hand side. You then click apply and you're done.

Optional

The service handles all trades for you.... once signals are selected it is as hands-off as a MA.

Although as Gaby said you can manually ineract and close orders yourself.... or download MT4 trading software and just trade the signals manually.

If you know nothing about forex, following signals and trying to analyse why they are making trades when they are isnt a bad way to pick up the basics too imho.

Optional

I bet this thread will turn into a hive of info that can be used to create a tutuorial post... once we learn enough about it

And it is MUCH simpler than setting up an EA btw


I received a couresty call from FXDD today to ask how it was going... I asked if they would extend the demo period for me until mid July... and they said yes... so that will give us 10 weeks of real data. (if I can wait that long hehe)

I asked about the spread and he said it was 3 pips on the majors.. plus 1 pip commission per trade. (about $1 per mini-lot)

As allinvain said, this is more expensive than average in brokerage fees... but as there is no minimum monthly subscription price for the signals... it allows people to get started with a lower balance. (not having to cover those fees)


As far as the performance...my demo account is 236 pips in profit in closed orders so far this week... and has one order open at +150 pips right now.

(kinda wish I just started the test with real money now!)

allinvain

This is not correct. FXDD Auto does not work on the MT 4 platform, only the MT3 platform.