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  • The "RogerM" challenge

    I put myself in a position where I have to "put my money where my mouth is". While exchanging posts with member RogerM regarding our expectation and risk management polls, I commented that I felt I could turn a 50% annual yield with low draw down "blind folded". Well, RogerM called me out on it and now I have another "challenge"...hehehe

    RogerM is looking for a trading system that puts risk before reward. In the world of forex systems, at least in my experience, risk has been secondary to reward and in a lot of instances not even an after thought. I honestly feel that by taking the methods I use now and modifying the risk parameters that I can achieve the goal of 3-4% per month with a very low draw down and very low risk per trade.

    This actually works out well on a couple of levels. First, I had been trying to modify my "$100 challenge" to be more "signal friendly". But the truth is I dont think I can avoid large open draw downs and still achieve 400% + annual gains. This challenge is my personal exercise and quite frankly I don't really care what anyone else thinks about my method or risk management. I mentioned to Nick last night that if you can show me a trader that can turn 400% consistently with less than a 60% draw down then I'll show you a billionaire...;-). That and after what I have seen with FX AMP and how the members have reacted to it, I'd rather not have to deal with that kind of distraction with my personal challenge.

    Second, RogerM has opened up an opportunity to offer a different kind of signal (assuming it is successful). This signal will have all parameters clearly defined...from entry rules, to profit targets, to exit rules and stop loss. We will forward test this for as long as is needed then anyone that wants to use the signal will know EXACTLY what they are getting involved with.

    I could be completely wrong and this may be a lot harder than it looks on paper, but I am going to give it a shot and we will see where all the chips land!

    Thanks to RogerM for calling me out on this! I will do my best not to disappoint!

    More details to follow...Have a great weekend and Happy Trading!

    Joe
    Last edited by Turtle Forex; 07-12-2013, 11:38 AM.
    "The trend is your friend - until it bends at the end"

  • #2
    Good luck Joe!

    It will be interesting to see how you go.
    Would you like free lifetime access to our forex trading room?

    Open an account at Blueberry Markets and save the $97/monthly fee.

    Click here to find out more.

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    • #3
      Nice one Joe. I'll be following with a lot of interest.

      I can't be the only one looking for lower risk and lower return, at least on some of my accounts.

      Best of luck mate.

      Comment


      • #4
        Roger and Nick,

        I'm privileged to even have the opportunity to do this. I had many times contemplated trading like this, but this type if systems requires deep pockets to trade it properly, which I don't have right now...in year 3-4 of my "$100 challenge", if all goes well, my plan is to throttle down to a more conservative trading system as the account grows, but not quite as conservative as this system will be.

        I too am interested to see how this works out!

        Joe
        "The trend is your friend - until it bends at the end"

        Comment


        • #5
          That is awesome Joe I know you can do it!!

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          • #6
            Hey Joe - Have you started on this account, yet?

            Comment


            • #7
              Yes Roger, a demo account is set up that I will be using as a Master for this. Nick and I are going to be working on getting this set up on SimpleTrader next week so that I can get a feel for using it and copying to my live account. In the meantime here is the myfxbook for the account:

              FX65 Conservative Growth

              I will be very clear on recommended risk settings, and and very detailed on my rules for entry/exit before we launch this. I'll probably compose a PDF and hold a webinar prior to launch. My focus will be the same as it has been, even with my "riskier" leverage that I have been using to build my small account, and that is preserving my capital...

              We will keep you posted. Have a great weekend!

              Joe
              "The trend is your friend - until it bends at the end"

              Comment


              • #8
                Great work Joe.

                Are you going to let anyone copy this before it goes live, since I'd like to get a feel for it.

                Best wishes, Roger

                Comment


                • #9
                  Hi Roger,

                  I have the Master Account set up on SimpleTrader and Nick walked me thru setting up my live account as a slave. I have to say I am quite impressed with the system Nick and Will have put together! I'll update you on the availability of the signal within the next couple of days.
                  Last edited by Turtle Forex; 07-22-2013, 04:51 AM.
                  "The trend is your friend - until it bends at the end"

                  Comment


                  • #10
                    Thanks Joe.

                    Comment


                    • #11
                      Hi Joe,

                      Any idea when your signal will be live for the public?
                      Or will it be available for everyone this week, and not only for Roger who challenged you.

                      I must admit that I admire your trading style and I'm very interested to follow your signal.

                      Kr,
                      Dub

                      Comment


                      • #12
                        Hi Dubovski!

                        Thanks for the compliment on the trading method..

                        Roger get the credit for inspiring this signal, which is really just a risk adjusted version of my "normal" method, which is a little higher risk as I am trying to build a small account. The signal will be available to anyone that is interested. I will update you as soon as the signal is available but in the meantime the signal is "On Trial" in the live chat.

                        Happy Trading!

                        Joe
                        "The trend is your friend - until it bends at the end"

                        Comment


                        • #13
                          Originally posted by Turtle Forex View Post
                          Hi Dubovski!

                          Thanks for the compliment on the trading method..

                          Roger get the credit for inspiring this signal, which is really just a risk adjusted version of my "normal" method, which is a little higher risk as I am trying to build a small account. The signal will be available to anyone that is interested. I will update you as soon as the signal is available but in the meantime the signal is "On Trial" in the live chat.

                          Happy Trading!

                          Joe
                          I'm very interested in this low risk low growth signal. Large account like Roger looking for slow but consistent growth.

                          Comment


                          • #14
                            Yes Cashnet - but remember we will often be the odd ones out in this community, and in fx generally, as the introduction of the new trial signal (Silent Specialist) implies. According to Nick, 95% of the accounts linked to LiveForexTrading are under $5k and thus not sources of income to their owners, but repositories of excitement and hope, neither of which commodity has a place in my own strategy of accumulating money. Therefore, approaches to trading such as Joe's on this account, are going to be fairly rare, since they will not have a market, despite their filling, to my mind, an important niche.

                            If LiveForexTrading was a bank, of course, and large account holders were valued more highly, things would be different, but that obviously cannot be the case with this business model, and nor should it be.

                            All the best, and as Joe would say, Happy Trading! Things started to look up for him yesterday after a pretty horrible run (in which he nevertheless managed to preserve capital, it must be remembered) - long may yesterday's good work continue.


                            Roger

                            Comment


                            • #15
                              Originally posted by RogerM View Post
                              Yes Cashnet - but remember we will often be the odd ones out in this community, and in fx generally, as the introduction of the new trial signal (Silent Specialist) implies. According to Nick, 95% of the accounts linked to LiveForexTrading are under $5k and thus not sources of income to their owners, but repositories of excitement and hope, neither of which commodity has a place in my own strategy of accumulating money. Therefore, approaches to trading such as Joe's on this account, are going to be fairly rare, since they will not have a market, despite their filling, to my mind, an important niche.

                              If LiveForexTrading was a bank, of course, and large account holders were valued more highly, things would be different, but that obviously cannot be the case with this business model, and nor should it be.

                              All the best, and as Joe would say, Happy Trading! Things started to look up for him yesterday after a pretty horrible run (in which he nevertheless managed to preserve capital, it must be remembered) - long may yesterday's good work continue.


                              Roger
                              Thanks for the insight Roger and it's nice to see you were listening in the trading room yesterday

                              I'm always welcome to working with other slow and steady traders.

                              We're in the middle here at LiveForexTrading. I recognise the need to have slow consistent returns to build wealth over time, however it's also very important to cater for smaller account holders that need to get a generate profit on their $3,000 account after their monthly fee.

                              I personally think we're doing a pretty good job at catering for both.
                              Would you like free lifetime access to our forex trading room?

                              Open an account at Blueberry Markets and save the $97/monthly fee.

                              Click here to find out more.

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