Free trial- MYFX - METATRADER plug in - revolutionising trade management -metatrader

NEW – FREE TRIAL - IMPROVED EXECUTION AND TRADE MANAGEMENT FOR METATRADER

Features now available for METATRADER through MYFX Console:
•1 click execution
•Ability to set default stop losses and take profits
•1 click to make your trades risk free
•1 click to close your trades
•See your risk displayed in dollars and as a percentage
•Instant news services
•And best of all the ability to set a trade management plan and for the computer to execute it for you?

For a FREE TRIAL (first 100) www.myfx.com.au/Trials and enter your email address and trial code forexfactory

WE ARE SEEKING YOUR FEEDBACK AND RATING PLEASE

Have been using the product for a while now and it really makes trading with MT4 a pleasure, very practical functionality that works. Well thought out product. The support has been friendly and prompt...great job MYFX.

Thanks Dean, glad that you are enjoying the software. Hope you are enjoying the new trade management features that we just released.

Hi SaintSurfer, if you go to www.myfx.com.au you can purchase a version for USD$249 for a one off fee. It includes 12 months of updates and 12 months of MYFX Plus (which are features to bring even more control and ease to your trading).

If you have any issues in purchasing, or installing, please email [email protected] or on skype add myfxtv


Regards
John

ok thanks, I found it anyway and deleted my mesage while you wrote. great.

that is ok, look forward to hearing your feedback once you have trialled.

Wow.. What a great program, I've been using it now for a little while now, so easy to manage my trades, a Phenomenal program and very simple to use. I've been waiting for something like this for quite some time.

Did you know you can now apply a default trade manager to all manual or auto trades, therefore if you scalp it is 1 click to enter and manage your whole trade from start to finish including the move to BE. You chose your own Take Profit levels, and a Breakeven level and then execute your trade with 1 click entry through management stop loss take profits etc.

I have added a screenshot of how to set up a trade manager that will take out 25% of your trade at 2 pips, 25% at 4 pips, 25% at 6 pips and 25% at 8 pips, and move your stop to BE at 5 pips (for those really short scalpers). You can zet the tp's at any level, and % of your trade to close is also up to you. Let me know what you think and if you have any questions.

We have still left this offer open for now:

For a FREE TRIAL www.myfx.com.au/Trials You wiill need the trial code forexfactory

WE ARE SEEKING YOUR FEEDBACK AND RATING PLEASE

In case some of you are on AxisODL's database, they are today sending out an email regarding the MYFX Console to their clients. They have secured a trial for all of their clients. I appreciate the personal feedback I have received so far regarding the software, and let me know the improvements that you want so that we can program more.

John

Your program looks great. I am wondering if you have any hedging risk management features. For example, I am currently trying to hedge EURUSD with USDCHF currency pairs. I sell 1 lot EURUSD and sell 1.2 lot USDCHF concurrently. At any given time, if I get a net profit > US200 or a net loss of > US 400 for both currency pairs, I will close the position. This strategy allows me to earn at least US1,000 on a daily basis provided I am staring at the PC screen or iphone screen throughout the whole day. During trending which is against my position, the net loss can go beyond 1 thousands dollars if I choose not to execute any stop loss. But eventually it will retain to net profit position if that day is a trading day. However, this strategy may backfire should a new revesal but trending market start. I will suffer a heavy loss should I decided to hold until it make a profit. I need a program that can automatically close the position if all the currency pairs position hit a specific target profit or stop loss. It will be excellent if it is intelligent enough to adjust the trailing stop loss and close net profit position base on every 25% of the total porfolio if you understand what I mean. For example, if it hits US$200, close the 1st 25% position. If it hits US$400, close the next 25% position. Now we left with 50% of the position but the trailing stop will ensure that we get more profit as compared to the strategy where I close the trade prematurely once it hit US$200.

This hedging strategy works even for a porforlio of 1 lot EURUSD + 1 lot GBPUSD + 0.9 USDJYP + 1.2 USDCHF. The problem with the 4 currency pairs using manual method is that the currency pairs move so fast that even if I am a few second slower, it can turn my net profit position into a net loss position during volatile market conditions. I look forward to your "YES, we can incorporate this features" reply. I will go and grab the software.

If you currently do not have this features, can you advise any alternative automatic method of trading this hedging strategy using your software? A million thanks.

I understand that it is licensed by computer.

Does this imply that I can move it between brokers on the same computer.

For example, I have several demo and 2 live accounts. Can i use it on the demo account when i am not in a live trade and then shut it down on the demo account and start it up on the live account.

I also understand that it does not have multiple broker support simultaneously but does it have multiple broker support on the same computer at different times?

Otherwise other free trade management EAs such as Steve Hopwoods gives me greater flexibility. I am not sure what you are offering outside of Steve's EA except for a GUI.

In my review of MYFX, two things I was looking for that I have not found (so far) that I would expect an EA like this could easily handle, are:

Features Sought
1) OCO - One Cancels Other
For instance, a Pending order to go long is placed with a simultaneous Pending order to go short. The first order to be filled will automatically cancel the second Pending order. MT4 is not capable of this at this time.

2) Trailing Stop
As I would imagine we can all agree that the built-in Trailing Stop for MT4 is pathetic. It doesn't tell what it's doing when you first place it, or even if it is in place. It is very limited in functionality and features. And it has a very limited ability for a trader to track what it is doing.

The rest of the features in the current MYFX make me think that's it's possible that they could do some very cool and creative things with Trailing Stops in MYFX that could have very intelligent features.

I don't understand why these two features were (apparently) not addressed in the initial design. I have written to them and they appear to be considering them. If these are important to you, then you might add your queries about them and request them. Good companies listen to their customers - especially people who are considering buying.


MYFX Webinars
I have enrolled in one of their upcoming webinars to explain/explore the MYFX plug-in. Those are available at

https://mtmarkets.omnovia.com/registration

Which brings to mind another quizzer. Why only 3AM webinars? (That is the time for the east coast USA) I know it's an Australian company, but come on - they do plan on having customers outside of Australia and New Zealand, I would hope.

Many of these other people in the world have a life other than trading forex. Besides if you are going to trade the best market, that is the time for London. Maybe MYFX could plan on having a webinar or two during the market doldrums (when people on the other side of the world are actually awake).

All in all, I am hopeful for the MYFX interface. Be interesting to see how it continues to develop and mature.

Just my two farthings ...
Rich

Thank you all for your posts, sorry in the delay in reply to some of them.

Abinadi -
Trailing stops are in the current version, under the Trade Manager tool. If you are seeking when a particular trade will initiate the trail, just click "Manage" in the grid, and it will remind you how you have set up that trade.

Re OCO - it is coming in a future version soon. We have also been focussing on our peer to peer software for sometime, and expect soon to be able to release the 1st versions of that over the coming weeks.

I will investigate setting up webinars at different hours, you are correct that needs to be addressed.

Flyer415 - Re licensing it currently is licensed per computer. You can only run 1 metatrader at a time on MYFX. Later we will consider programming to be able to deal with Multiple Metatraders simulatneously if there is sufficient demand. Something we have currently seen a small demand for, some more feedback from users as to if that if a commonly required feature would assist in that decision.

Patguay - currently we dont have the hedging risk management features that you are requesting scheduled to be programmed.

I appreciate the feedback from you all, and please feel free to post more questions, and comments. We will continue to work hard to produce software that will assist you in your trading.

We thank those that took up the inital offer of 12 months worth of MYFX plus included in the purchase price, and hope that is a benefit for you.

Out of interest for those wishing a FREE paid copy of MYFX, I understand currently that AxiTrader is paying for some of their live clients to receive a copy, and have been told by [email protected] that he will consider purchasing the MYFX Console for clients if they wish to contact him.

Regards,
John

Works for me, here is how to scalp 2 pips each time! That there is 71 winners in a row, and 87 out of 90 trades!

Hi

Just tried setting up MYFX on my main computer (running Win 2000) and it came up with a message saying a kernell file was missing and asked me to download and run an add-on from another site, which I did.
Tried to install MYFX again and still no luck. Just didn't want to know about it.

I then copied the setup file over to my laptop (running Win Vista) and it installed OK. I set up a chart in MT4 as per the installation video, so far so good. Tried to run MYFX but it only opens a basic screen then stops working with a "not responding" message on the top line of the screen.

Could someone tell me if I have missed something please.

Many thanks in advance
David

This program uses a lot of CPU, any idea on how to reduce that? I am hoping to get the new HP, ENVY 17" 3D laptop early next year, check it out if you haven't seen it, that has enough grunt to run all this trading stuff

Wow--are you using this software? If I may ask, what is your general method?

I am using the trial, and it is SOOOO SLOOOOW. 98% CPU usage--really?? What gives?

Hi, I noticed your hedging strategy you posted in October 2010, re whether MYFX would handle it. I am very interested in your strategy, and I do EA development as well, so I reckon between us we could develop a killer EA for this!

Would you be interested in this?

the latest versions CPU is greatly improved