Auto FX Millionaire

[ldibart]

lol rose tinted glasses hehe thats funny :) ..i have a micro account i am using ..only..(maybe why it wont trade?) I figure ..who knows maybe this one will work but thank you for the info i will check it out.

[li21]

I got another spam mail from these guys.. he claims he has made $6000 in the first week of the program?

 

BS or true?

[thebfxc]

I got another spam mail from these guys.. he claims he has made $6000 in the first week of the program?

 

BS or true?

 

true but with a large 45% floating drawdown ie too much leverage.

 

Check this review http://www.forexverified.com/reports/autofxmillionaire/autofxmillionaire001.html - Here is another forward test, claims it is a scalping EA that attached to the chart - anyone have a copy?

[li21]

I always thought this was a Signal service .. ie. trade as he trades..

 

So its just an EA?

hmmm...

[jamestan1978]

It's common now the signals are sent via ea to prevent piracy.

[li21]

true but with a large 45% floating drawdown ie too much leverage.

 

Check this review http://www.forexverified.com/reports/autofxmillionaire/autofxmillionaire001.html - Here is another forward test, claims it is a scalping EA that attached to the chart - anyone have a copy?

 

That review actually looks pretty good..

 

But good is always too good to be true ?

[jamestan1978]

Note that real test come during trending period.

So make sure you earn your 1mil before the trending period.

[⭐ Dang Hoang]

incredible, only first day joining and my account is up 20%. Never mind the drawdown, that's why it mentioned in the FAQ section using proper lot. In fact, my live account perform much better than his account as I'm using Pepperstone ECN broker.

[jamestan1978]

As there's no stop loss or 500pips stop loss what kind of MM should be use? As a 200.00 account

[⭐ musketeer]

ever wondered why the "links" to the myfxook are pictures only? and why started on Apr 03, '11 ending about end of july?

" Doubling accounts month after month after month."

1k doubled every month brings 2 048 000 (2 mios) in one year and continue compounding it is 8'388'608'000(8 bios). Who to hell will care selling it. Do you know how long and what percent (yearly) makes Warren Buffet to be that that he is now?

So, get your 20% up, do that 5 times and you will be lucky :)

 

found the answer on my question:

Registered through: GoDaddy.com, Inc. (http://www.godaddy.com)

Domain Name: AUTOFXMILLIONAIRE.COM

Created on: 05-Jul-11

Expires on: 05-Jul-12

Last Updated on: 13-Jul-11

so, he just started selling it, will not care to bring it up on myfxbook :) but why??? :)

 

 

ah, even that:

656025852010.11.30 22:28balance Deposit Wire Transfer #6587321 500.00

 

claiming real broker... with real acc.... someone heard about the famous broker "Metatrader"? or may be he just robber and that broker is down already...

 

enough is enough

will not run even *if he paying me* i can blown an acc himself :) if that is my wish :)

Edited September 1, 2011 by musketeer

[jamestan1978]

I suspect somewhere down the road, the drawdown gotmso huge it crash his 999.999.00

[⭐ Dang Hoang]

As there's no stop loss or 500pips stop loss what kind of MM should be use? As a 200.00 account

 

they suggest you should risk 0.01 lot for any amount less than 1000. With the very high winning rate, and some small losing trade. I think the system is very effective for growth. NO risk no reward. For me, I'm willing to risk for the potential return

[jamestan1978]

Read from another forum there's some connection problems with the trade copier. Has it been fixed?

[⭐ Dang Hoang]

Read from another forum there's some connection problems with the trade copier. Has it been fixed?

 

I don't know about it, it works fine on mine

[li21]

I took the plunge and bought into this ...

 

Already 2 wins in 4 hours.. mind you they are small wins.. about 40 pips .. but still..have to see how it fairs over the next few weeks.

[kappaforex]

I have cancelled! http://www.worldwide-invest.org/metatrader-expert-advisors/4687-auto-fx-millionaire-8.html Ridiculous trade set ups with massive DD no SL! Who's driving this copier??

[ross123]

I have cancelled! http://www.worldwide-invest.org/metatrader-expert-advisors/4687-auto-fx-millionaire-8.html Ridiculous trade set ups with massive DD no SL! Who's driving this copier??

 

I am not defending this product but MM is the key of success in trading any system. I am trading several successful systems and the DD in all of them go beyond 1000's at the times.

Ross.

[scratch]

Account Start Date End Date Days Start Balance Ending Equity Profit/Loss %

Account # 112263 Aug 21, 2011 Sep 02, 2011 12 $10,000.00 $10,954.87 9.55%

 

 

Account: AutoFXMillionaire 001 Name: Forex Verified Test 2011 September 02 19:05

Closed Transactions:

 

Open Trades:

Ticket Open Time Type Size Item Price S / L T / P Price Swap Pips Profit

3739927 2011.08.31 20:46 buy 1.00 EURUSD 1.43900 0.00000 1.44100 1.42035 11.36 -187 -1,865.00

3744200 2011.09.01 10:07 buy 1.00 EURUSD 1.43300 1.38730 1.43900 1.42035 2.82 -127 -1,265.00

3761177 2011.09.01 13:45 buy 1.00 EURJPY 110.059 0.000 110.180 109.093 3.32 -97 -1,257.91

3761203 2011.09.01 13:46 buy 1.00 EURJPY 110.034 0.000 110.180 109.093 3.32 -94 -1,225.35

3761246 2011.09.01 13:49 buy 1.00 EURJPY 110.036 0.000 110.180 109.093 3.32 -94 -1,227.96

3767216 2011.09.01 17:15 buy 1.00 EURJPY 109.778 0.000 110.180 109.093 3.32 -69 -891.99

3770094 2011.09.02 09:33 buy 1.00 EURUSD 1.42400 1.37630 1.43000 1.42035 0.00 -36 -365.00

3813407 2011.09.02 09:50 buy 1.00 EURJPY 109.337 0.000 110.180 109.093 0.00 -24 -317.73

27.46 -728 -8,415.94

Floating P/L: -8,388.48

Pending Orders:

Ticket Open Time Type Size Item Price S / L T / P Market Price

3834001 2011.09.02 17:47 buy limit 1.00 EURUSD 1.41000 0.00000 0.00000 1.41

 

Summary:

Deposit/Withdrawal: 10,000.00 Credit Facility: 0.00

Closed Trade P/L: 9,343.35 Floating P/L: -8,388.48

Balance: 19,343.35 Equity: 10,954.87

 

Details:

 

 

Gross Profit: 10,981.75 Gross Loss: -1,638.40 Total Net Profit: 9,343.35

Profit Factor: 6.70 Expected Payoff: 112.57

Absolute Drawdown: 0.00 Maximal Drawdown: 1,090.40 (49.15%) Relative Drawdown: 5.82% (1,090.40)

 

Total Trades: 83 Short Positions (won %): 50 (92.00%) Long Pos. (won %): 33 (87.88%)

Profit Trades (% of total): 75 (90.36%) Loss trades (% of total): 8 (9.64%)

Largest profit trade: 370.00 loss trade: -706.83

Average profit trade: 146.42 loss trade: -204.80

Maximum consecutive wins ($): 24 (3,093.58) consecutive losses ($): 2 (-669.57)

Maximal consecutive profit (count): 3,093.58 (24) consecutive loss (count): -706.83 (1)

 

Detailed Trading Stats

Net Gain

9.55%

Avg. Monthly

25.78%

Score

0.19

History

12 Days

Max DD

49.15%

 

 

Account Details

Starting Bal.

$10000

Gross Profit

$10,981.75

Gross Loss

$-1,638.40

Net Profit

$9,343.35

Current Equity

$10954.87

 

 

 

 

Drawdown Details

Max Drawdown

49.15% ($1,090.40)

All-Time High

$19,343.35

All-Time Low

$9,797.00

 

 

 

 

Trade Details

Winning Trades

75 (90.36%)

Consecutive Wins

24 (285 pips)

Losing Trades

8 (9.64%)

Consecutive Losses

2 (-63 pips)

 

 

 

 

Trade Averages

Avg Winner

Pips: 13.9

Gain: $146.42

Time: 4.12 hours

Avg Loser

Pips: -17.8

Gain: $-204.80

Time: 11.79 hours

Avg All Trades

Pips: 10.8

Gain: $112.57

Time: 4.86 hours

 

 

Month-By-Month Results

Month Trades Profit % Net Pips Max Drawdown

2011 - September 12 5.59% 101 49.15%

2011 - August 71 83.20% 796 42.69%

 

 

 

Week-By-Week Results

Week Starting Trades Profit % Net Pips Max Drawdown

Aug 28, 2011 39 22.62% 340 49.15%

Aug 21, 2011 44 57.75% 557 42.69%

 

 

 

Results by Symbol

Currency Trades Win % Profit % Net Pips

GBPUSD 36 86.11% 38.26% 383

EURUSD 21 100.00% 34.80% 348

GBPJPY 18 94.44% 18.99% 145

USDCAD 8 75.00% 2.09% 21

 

 

Gross Profit: 10,981.75 Gross Loss: -1,638.40 Total Net Profit: 9,343.35

Profit Factor: 6.70 Expected Payoff: 112.57

Absolute Drawdown: 0.00 Maximal Drawdown: 1,090.40 (49.15%) Relative Drawdown: 5.82% (1,090.40)

 

Total Trades: 83 Short Positions (won %): 50 (92.00%) Long Pos. (won %): 33 (87.88%)

Profit Trades (% of total): 75 (90.36%) Loss trades (% of total): 8 (9.64%)

Largest profit trade: 370.00 loss trade: -706.83

Average profit trade: 146.42 loss trade: -204.80

Maximum consecutive wins ($): 24 (3,093.58) consecutive losses ($): 2 (-669.57)

Maximal consecutive profit (count): 3,093.58 (24) consecutive loss (count): -706.83 (1)

 

 

 

 

 

UP AND DOWN LIKE A PAIR OF WHORES KNICKERS!!!!

[ross123]

 

UP AND DOWN LIKE A PAIR OF WHORES KNICKERS!!!!

 

Now this is funny..

I am down just a bout $700 or cumulative DD of almost 900pips "I think" with conservative MM.But I am hopeful it will turn.

Ross.

[kappaforex]

Ok traders, have a look at the BS sales page of $500! Look at the lot sizes traded! 0.15 USDCAD started off with. How are you going to make that sort of money in return trading at 0,01 lots for accounts < $1000! It's total BS!

 

I have used this EA live on a smaller account and its getting smashed with the extremely poor set ups. I have cancelled immediately as EU is down over -140 pips on 2 trades so to EJ also. There are no SL's and as far as im concerned the sales page is fraudulent.

 

These marketers should be booted off the internet and fined also!

 

By the way emailed them 3 times not to get a response at all. If he recommends 0.01 why is he selling the package with lots at 0.15 and above on accounts at $500???

 

 

Work that one out.

[soundfx]

kappaforex,

 

I totally agree. As I've said time and time again about these "amazing" EA's...

 

I can create an EA in 30 mins flat which will show amazing backtest curves, the problem is that these EA's are unpredictable and for gamblers only, not traders. Huge DD is not a nice thing to suffer and there are a lot of ego driven guys out there who think that if an EA goes into too much DD, then they'll pull the plug well before their account is drained to 0. This is much easier said than done lol. If you've tripled your account in two months and are now looking at all those gains and potentially even some of your original capital being wiped out - are you ready to pull the plug? I suspect not lol. These are the psychological demons you have to face running these sort of systems. If you really want to have fun and make tons of cash very quickly or lose it all then search on the forum for a user called boussenix who was trying to sell a "holy grail" EA, though it got shared eventually. If you run this on a "gambling money only" account then you may do ok - probably a lot better than death by a thousand cuts from trying out all these rubbish commercial EAs :)

 

I can see total newbies falling for all these tricks, though I think some of the guys here should know better and the only reason why they're holding on to the dream is because of greed and a crazy notion that the perfect system will eventually fall into their laps lol.

 

Wake up guys! You know what sort of people you're dealing with when you buy these dodgy EA's lol - if they manipulate their results in photoshop or over-optimise their backtesting (so it only works perfectly for the period of time they show), or do anything else underhand - the alarm bells should be ringing and questioning deeply some of the marketing blurb: "This guy says he wants to give back to trading community" or "He wants to become a millionaire by the age of 23, so he's selling the system as a once in a lifetime opportunity, to help build up his trading account quicker" etc. It's all total BS.

 

If a system was half as good as most of those hyper-marketed EA's purport it to be then it wouldn't be selling for $97 to as many customers as it's affiliates could dig up from their spammers mailing lists, it would be selling for $1,000,000+ to major dealers and investment banks lol.

 

So...what's the solution? Unfortunately, you'll find that if you want success in this business you have to work for it like in any other business. There are two routes:

 

1) Learn how to become a good manual trader.

 

2) Learn how to code (if you can't already) and do proper research and development of your own EA.

 

[edit ] One more thing, given the deafening silence that came from me posting this ;)

 

Trading is a game where you learn by experience. You have to be actively trading in the markets (even if you're only developing EAs) to understand how the market moves (or can move).

 

There's plenty of demo/live controversy going on, however the key point is that to understand anything about what you're fighting against, you need to have a few battles first. Demo/live is all about psychology and has most impact for those who do crazy things like trading in demo successfully for a year on a $100,000 account and then open their live account for $5,000 and you can guess the rest of the sad story which plays itself out again and again.

 

Absolutely anyone who test trades in demo and develops their own method of trading will always be streets ahead of the crowd purely because they're doing something different to the rest, yet it still makes sense to them. With strong enough rules you can even make an EA out of this.

 

For anyone who bothers to read this, here's one more tip...whatever your timeframe (unless you're hooked up to the real interbank., i.e. not your average "ECN" and are scalping 1m or are "investing" in currencies and only trading once a week/month etc.), then only trade 2 or 3 (high probability) setups per day and you'll find that your profits will soar.

 

Finding those perfect trades is the tricky bit and there's tons of stuff for you to try out already shared on II. However again I stress that you need to find something which "works" for you. By "Work" I mean that it makes sense to you, you're happy trading those signals and having those indicators on your charts, you can trade those signals in a relaxed state at the times of day when you're normally free etc.

 

Only trading the perfect trades is another matter entirely and falls into the realm of trading psychology yet again! However, don't see your poor manual trading abilities as a stumbling block...If you have a great system though can't stop yourself from entering **** trades, then consider creating an EA from it (not as easy as it appears though possible and you may stumble upon the sort of EA that you'd definitely not want to sell for $97 to every Joe Shmuck out there lol).

Edited September 3, 2011 by soundfx

[kappaforex]

kappaforex,

 

I totally agree. As I've said time and time again about these "amazing" EA's...

 

I can create an EA in 30 mins flat which will show amazing backtest curves, the problem is that these EA's are unpredictable and for gamblers only, not traders. Huge DD is not a nice thing to suffer and there are a lot of ego driven guys out there who think that if an EA goes into too much DD, then they'll pull the plug well before their account is drained to 0. This is much easier said than done lol. If you've tripled your account in two months and are now looking at all those gains and potentially even some of your original capital being wiped out - are you ready to pull the plug? I suspect not lol. These are the psychological demons you have to face running these sort of systems. If you really want to have fun and make tons of cash very quickly or lose it all then search on the forum for a user called boussenix who was trying to sell a "holy grail" EA, though it got shared eventually. If you run this on a "gambling money only" account then you may do ok - probably a lot better than death by a thousand cuts from trying out all these rubbish commercial EAs :)

 

I can see total newbies falling for all these tricks, though I think some of the guys here should know better and the only reason why they're holding on to the dream is because of greed and a crazy notion that the perfect system will eventually fall into their laps lol.

 

Wake up guys! You know what sort of people you're dealing with when you buy these dodgy EA's lol - if they manipulate their results in photoshop or over-optimise their backtesting (so it only works perfectly for the period of time they show), or do anything else underhand - the alarm bells should be ringing and questioning deeply some of the marketing blurb: "This guy says he wants to give back to trading community" or "He wants to become a millionaire by the age of 23, so he's selling the system as a once in a lifetime opportunity, to help build up his trading account quicker" etc. It's all total BS.

 

If a system was half as good as most of those hyper-marketed EA's purport it to be then it wouldn't be selling for $97 to as many customers as it's affiliates could dig up from their spammers mailing lists, it would be selling for $1,000,000+ to major dealers and investment banks lol.

 

So...what's the solution? Unfortunately, you'll find that if you want success in this business you have to work for it like in any other business. There are two routes:

 

1) Learn how to become a good manual trader.

 

2) Learn how to code (if you can't already) and do proper research and development of your own EA.

 

Well said soundfx. Im a manual trading 99% of the time trading harmonic patterns and price action / volume analysis. I gave this EA a shot on a smaller account and destroyed within a few days. Last time i bagged an EA i got smashed on this forum saying that you just critisize and to stay off it. Well as i said again 99% of EA's are total BS!!! These marketers should be kicked off the net and banned but as we all know that will never happen.

 

Thanks soundfx great reply!

 

The only way i beleive to get ahead in forex is via manual trading.

[theozaki]

I feel the major issue with this signal service is the Drawdown and the lack of a realistic stop loss. I will be running this next week alongside another bot which will manually set and overide with a fixed stoploss but its TP functionality will remain untouched and i will allow the bot (Auto fx) to control TP entirely. The other Bot allows me to conrol the SL with three different options.

 

A. A predefined fixed SL in pips.

 

B. A SL based on recent swing Highs and Lows where i can define how many Bars or Hours back i use to determine the swing high or low to set the SL

 

C. An option to select SL based on setting a risk percentage based on account balance !

 

I will experiment with options A & B to see which method performs better without affecting profitability ! I feel a fixed SL of around 60 pips is reasonable because most TP's so far have been between 10 & 20 pips with a few as high as 30 pips.

 

However option B will probably be the best option for this Bot because its pending orders are based on reaching Major Support or Resistance levels to trigger its buy or sell trades. The SL should be ideally dynamic also to set SL levels based on previous swing high or lows within a previous 10 to 12 hour period !

 

I will provide a link to download this other Bot to all here if i feel that it will improve the DRAWDOWN Auto fx Millionaire sustains whilst not affecting its profitability !

 

Cheers

Edited September 3, 2011 by theozaki

[ross123]

Guys please remember:

- There is no such thing as sure setup "no loss" or "sure thing"

-there is no such thing "predicting the market"

- there is no such thing as no DD

all successful long term strategies will suffer losses and large DD exactly because of the above mentioned facts. Now if someone has found a magic system with a crystal ball that could produce 15 sure setups a month I am willing to pay good money or invest large sum of money. Unfortunately because I haven't yet found such system, I have to make sure that I trade with the trend and observe my losses with sound MM and hope for the best. This is BTW a great advise form me & guys I trade with with cumulative trading experience well beyond half a century.

Ross.

[⭐ musketeer]

So.... cant figure out what exactly was the advise Ross? Can you please explain more? Also cant get your opinion about the topic of the thread...?