Myfxbook introduces risk adjusted rankings for AutoTrade members

Myfxbook also adds toolbar for websites looking to add streaming news, calendar events and rates

The social trading and copy trading service provider Myfxbook announced that it has launched a new ranking formula to optimize the results of its Autotrade feature. The trading leaders are in for some rearranging, as systems up until now were ranked purely on a daily performance basis. With the introduction of the new formula some drastic changes in the ranks are surely to occur, while targeting an optimization of risk taking for Autotrade followers.

In the interest of full transparency the company has openly published the formula for the users to be able to take a look at it and comment on further optimizations if they deem necessary. It’s the result of the account gains divided by the multiplication of the maximum drawdown by the standard deviation.

In essence the three components have weight in the final result, and as the company clarifies in its press release the parameters should be affecting the final ranking score. The bigger the gains on the account, the better the ranking would be and vice versa. When the maximum drawdown increases, this would reduce the ranking of the trader. Finally, the bigger the standard deviation is, the lower the ranking – every sound money manager should realize that a volatile portfolio could produce volatile results.

The company has also announced a new widget feature – it allows users to copy and embed the Myfxbook toolbar to their website which shows calendar events, streaming quotes and news.

With the recent additions of AxiTrader (a member of LeapRate’s Approved List of global regulated forex brokers), ThinkForex and IamFX, Myfxbook keeps growing its product offerings globally.

For the full press release and information how to use the new widget feature here is a link to Myfxbook’s press release.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report. 

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Myfxbook introduces risk adjusted rankings for AutoTrade members


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