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MyFxBook Questions
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Does Myfxbook provide support for demo accounts? Yes, Myfxbook provides support for demo accounts. Users can add multiple demo account profiles to their Myfxbook account to track trading activity and strategies.
What is Myfxbook? Myfxbook is an online automated analytical tool designed to display and track the performance of various trading strategies using a set of detailed trading analysis tools. The platform provides traders with an easy-to-use interface that tracks and analyzes trades on various financial markets and provides insightful information about their performance, including profits, risks, and more.
How does Myfxbook differ from other trading platforms? Myfxbook sets itself apart from other trading platforms by providing traders with detailed analytical tools that can be used to analyze trades in-depth. As a result, traders can gain insights into their trading performance, and make informed decisions about their trading strategies to improve their overall results.
How does the Myfxbook auto-trading system work? The Myfxbook auto-trading system enables traders to copy trades between different trading accounts, allowing users to automatically follow the trades of a specified system. This feature is supported on most major trading platforms, including MetaTrader 4 and 5, cTrader, and more.
What types of trading accounts can I link to Myfxbook? Myfxbook supports a wide range of trading accounts across multiple trading platforms, including MetaTrader 4 and 5, cTrader, and more. Which platforms are supported will depend on the broker used to trade on the site.
Can I use Myfxbook to analyze my trading history? Yes, Myfxbook can be used to analyze trading history, providing detailed reports on various trading statistics including drawdowns, risk-reward ratios, and profitability.
What are some of the features of Myfxbook's trading analysis tools? Myfxbook's trading analysis tools are designed to provide traders with comprehensive insights into their trading performance across multiple trading platforms. Features include custom indicators, advanced analytical tools, detailed account history, and more.
How can I access Myfxbook's analytics and trading data? To access Myfxbook's analytics and trading data, users will need to sign up for a free account. Once signed up, they can then link their trading accounts to the platform and begin analyzing trading activity in-depth.
Can I share my Myfxbook account with others? Yes, users can share their Myfxbook account with others by providing access using a unique link. This can be useful for notifying other traders or investors of the performance of a specific trading strategy on a live or demo account.
How do I use Myfxbook to track my trades? Using Myfxbook, traders can connect their trading account(s) to the platform, allowing for automated tracking and analysis of their trading activity. Once accounts have been linked, traders can access a range of analytic tools, including account balance history, P/L statistics, and more. To get started, users will need to sign up at Myfxbook.com, create an account, and link their trading account(s).
Popular Questions
What is 0.01 lot size in forex? A lot is a standard contract size in the currency market. It's equal to 100,000 units of a base currency, so 0.01 lots account for 1,000 units of the base currency.
How much is 100 pips worth? For the U..S dollar, when it comes to pip value, 100 pips equals 1 cent, and 10,000 pips equals $1. An exception to this rule is the Japanese yen.
How is drawdown calculated MyFxBook? Drawdown is calculated from peak-to-valley based on both equity and balance, since inception. Drawdown can only increase. Formula should be something like that: If (Equity < 0 and Equity/Balance*100 > Actual Drawdown) => So Drawdown is updated with the new value.
How do I calculate my lot size? Measure rectangle and square lots and multiply the width boundary by the length. To find the area of a triangle, multiply the height of the triangle by its base and then divide the result by 2. Add up the area of each shape to arrive at the total size of the property lot.
What is better than myfxbook? DigitalRank API. Top Browsers. Top Search Engines. Mobile vs. Desktop.
What is the best economic calendar? BabyPips.com. DailyFX. Dukascopy. Econoday. Forex Factory. FXStreet. Investing.com. MQL5.com.
How do I use the forex economic calendar? Research the markets. ... Learn about economic indicators. ... Compare data. ... Keep up to date with news releases. ... Build an event-driven trading strategy. ... Customise your calendar. ... Set up trading alerts.
Is myfxbook legit? This business model is a scam and puts traders in control of your funds to make unrealistic trading decisions. As A Trader, I will extract my skill from here. As A subscriber, I would not risk my money here or be happy knowing my account is traded for the retention of their subscription income and not profit.
Is myfxbook trustworthy? This business model is a scam and puts traders in control of your funds to make unrealistic trading decisions. As A Trader, I will extract my skill from here. As A subscriber, I would not risk my money here or be happy knowing my account is traded for the retention of their subscription income and not profit.
What is myfxbook used for? Myfxbook is a free, automated online trading tool that enables traders to evaluate, analyse, share and compare their trading strategies and trading account performance. The Myfxbook tool links to your trading platform and automatically imports all past and active transactions from your trading account.
Does myfxbook cost money? No. Our service is absolutely free. We make money by showing you ads.
Is my fx book free? Myfxbook is a free, automated online trading tool that enables traders to evaluate, analyse, share and compare their trading strategies and trading account performance.
How do I connect my myfxbook account? When you are logged into your Myfxbook account, hover the mouse over the item “Portfolio” and click “Add Account”. On the new page, select the option “MetaTrader 4 (Auto Update)”. Now you should enter your account information, which includes;
Does myfxbook have an app? We're excited to release the official IOS App of Myfxbook.com, the leading social forex community with over 280,000 forex trading accounts connected! Our iOS app offers the following features: - A real-time forex calendar with complete event data and notifications.
How do I use myfxbook com? Register on the website. Add a trading account to your profile. Set up access to your trading information.
How is position size calculated? The ideal position size for a trade is determined by dividing the money at risk or account risk limit by your trade risk. Taking forward the example we considered in the first section, The total account size is Rs. 50,000, and you set the account risk limit per trade at 1%.
What does 0.1 lot size mean? Mini LOT (also referred as 0.1 lot) - 10.000 units of any given currency. *. Micro LOT (also referred as 0.01 lot) - 1.000 units of any given currency.
How big should my lot size be? Before you can select an appropriate lot size, you need to determine your risk in terms of percentages. Normally, it is suggested that traders use the 1% rule. This means in the event that a trade is closed out for a loss, no more that 1% of the total account balance should be at risk.
Can I copy trades from myfxbook? Just visit the Myfxbook website and link your Tickmill trading account to Myfxbook AutoTrade. Then pick the automated Forex systems you like the best and copy them.
Is myfxbook private? Absolutely. Your forex charts are private by default and can be seen by others only if you publish it or share the chart's private URL.
Can you manipulate myfxbook? Attachments: Be cautious of Myfxbook stats. They can be manipulated.
How do I add a portfolio to myfxbook? At the top of myfxbook.com select Portfolio and then click 'Add Account'.
How do I share my myfxbook portfolio? How do I share the chart with others? Just copy the URL and share it with your fellow traders. If your chart isn't published, the chart can't be seen by anyone else without knowing the chart's URL. To share the chart with the Myfxbook community, publish the chart.