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The "RogerM" challenge

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  • #16
    Originally posted by Nick View Post

    I personally think we're doing a pretty good job at catering for both.
    You're doing an excellent job, Nick. If there's anything else like it in the world of Forex then I would genuinely like to know, but I haven't found it in years.

    All the best mate.

    Comment


    • #17
      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

      Hi Roger,

      Yes, agree with everything you have said. I understand the predicament that Nick is in with his target market. Now, is this conservative growth signal ready to be launched yet and if not, where can I monitor progress until it is ready?

      Also, Roger who do you currently subscribe to with your larger account on the line?

      Cheers

      Comment


      • #18
        Originally posted by Cashnet View Post
        Hi Roger,

        Yes, agree with everything you have said. I understand the predicament that Nick is in with his target market. Now, is this conservative growth signal ready to be launched yet and if not, where can I monitor progress until it is ready?

        Also, Roger who do you currently subscribe to with your larger account on the line?

        Cheers
        Hi Cashnet!

        The Turtle signal has been live since late July. We got out of the gate really nice, but went on a 6 week run where nothing seemed to work. My main focus is on preserving capital and hopefully turning a nice annual profit for subscribers. During this nasty run we managed to keep total draw down around 5%. I had to step back and rethink our strategy (using the same signals). We went from taking very small positions with plenty of wiggle room, looking for 70-100 pips in a basket to now trading a bit larger, tightening the stops, and taking quick profit. For now this seems to be the best approach.

        I think my subscribers would agree that we,ve managed the signal pretty good, I've said before that I cannot control what the market does, I can only control what I do. Every strategy goes thru periods where things dont work, it could be days, weeks or months. I try to stay objective, and make adjustments if needed. Like any trader, I'd love to have a method I can put on "cruise control", but such a method does not exist!

        I'm certainly not perfect, but I do have very good discipline. I plan my trades and trade my plan. Capital preservation comes first, profits come next. I've said before, if we dont allow ourselves to get beat up during the rough patches, then we can really take advantage of things when the signal is hitting on all cylinders.

        I think Nick has put together an awesome, diverse group of traders that suit a broad range of risk tolerance and account sizes. This signal is really for those with larger accounts, that want the security of knowing they wont stand to loose 10% on one trade, not that I think risking 10% on a trade is a bad thing, it all depends on your personal risk tolerance and goals. 10% on a 5K account is alot different than 10% on a 100K account, and I am sure you are aware of that!

        My "drop dead" max risk per trade is 3.5%, to this point our largest actual loss was about half that. With the current strategy, I doubt we will take a loss larger than 2% on a single trade or basket of trades.

        Thanks for your interest in the signal!

        Happy Trading!

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

        Comment


        • #19
          Originally posted by Turtle Forex View Post
          Hi Cashnet!

          The Turtle signal has been live since late July. We got out of the gate really nice, but went on a 6 week run where nothing seemed to work. My main focus is on preserving capital and hopefully turning a nice annual profit for subscribers. During this nasty run we managed to keep total draw down around 5%. I had to step back and rethink our strategy (using the same signals). We went from taking very small positions with plenty of wiggle room, looking for 70-100 pips in a basket to now trading a bit larger, tightening the stops, and taking quick profit. For now this seems to be the best approach.

          I think my subscribers would agree that we,ve managed the signal pretty good, I've said before that I cannot control what the market does, I can only control what I do. Every strategy goes thru periods where things dont work, it could be days, weeks or months. I try to stay objective, and make adjustments if needed. Like any trader, I'd love to have a method I can put on "cruise control", but such a method does not exist!

          I'm certainly not perfect, but I do have very good discipline. I plan my trades and trade my plan. Capital preservation comes first, profits come next. I've said before, if we dont allow ourselves to get beat up during the rough patches, then we can really take advantage of things when the signal is hitting on all cylinders.

          I think Nick has put together an awesome, diverse group of traders that suit a broad range of risk tolerance and account sizes. This signal is really for those with larger accounts, that want the security of knowing they wont stand to loose 10% on one trade, not that I think risking 10% on a trade is a bad thing, it all depends on your personal risk tolerance and goals. 10% on a 5K account is alot different than 10% on a 100K account, and I am sure you are aware of that!

          My "drop dead" max risk per trade is 3.5%, to this point our largest actual loss was about half that. With the current strategy, I doubt we will take a loss larger than 2% on a single trade or basket of trades.

          Thanks for your interest in the signal!

          Happy Trading!

          Joe
          Sounds great Joe. I'm trying to sign up to this service but it will not allow me as yet. Any ideas?

          I think you will service a very important niche in the market here and i'm happy to give you a chance.

          Happy trading to you too!

          Comment


          • #20
            Hi Cashnet,

            I'm following Joe with a GBP denominated SpreadBet account worth around $80k in USD at current exchange rates. There are very few other traders who I would want to follow at default risk with an account of this size. Obviously, if Turtle goes down by 10% on any one day that's going to give me a nasty hit, but ultimately it is down to trust, and Joe is someone whose style and capabilities I both understand and respect from verified experience.

            The only other two traders I follow on here at default are Pipsopolis and TradeAlerter. They are both intelligent personally and they have demonstrated the mental discipline, as Joe has, to take failed trades on the chin and move on.

            I do not follow 'semi' scalpers like Viper and Amp because they both have floating drawdowns that outweigh their high win rates and which suggest to me that one day they are both seriously going to come unstuck. I know that most on here will disagree with me about Viper, but I do not feel comfortable with his style. That's a personal thing.

            As far as the other traders are concerned, I don't go for anything that even hints at Martingale. I know that large accumulated losses that remain unrealised can be profitable for a long, long while, but I feel that eventually the system that relies on this strategy will come unstuck.

            Something else, Cashnet - You appear to be waiting for an account called the 'RogerM Challenge'. As far as I understand what is going on here, what Joe is doing with Turtle Forex does amount to that challenge - ie, he is trying to return at default between 30 and 50 percent annualised with minimal drawdown. If I'm wrong about that, I'm sure someone will correct me.

            All just my honest opinion, of course - and as Joe says earlier on, Nick has done a great job of recruiting a variety of traders to fulfil a range of investment needs.

            Comment


            • #21
              Originally posted by Cashnet View Post
              Sounds great Joe. I'm trying to sign up to this service but it will not allow me as yet. Any ideas?

              I think you will service a very important niche in the market here and i'm happy to give you a chance.

              Happy trading to you too!
              Hi Cashnet!

              You can sign up here: Turtle Forex Signal

              That is my personal site, I've backed off of doing live screen casts for now until I recover the drawdown, I really need to put all my focus on the trades and save the chit-chat for times in between.

              Also most of my posting are in this thread:

              http://www.liveforextrading.info/for...ex-system.html

              Just a couple things you should be aware of (I prefer full disclosure)

              1) I do not trade for a living. Trading is a passion of mine which I take very serious. When I "retire" (I'm self employed and in my late 40's) I'd love to trade for supplemental income, but my plan is to spend the next few years mastering the art of trading, then when the time comes to take it easy, I'll trade funds I can afford to risk.
              2) I've traded stocks, futures and forex for over 15 years. I've been profitable in my trading over the years, but never had or was willing to risk enough capital to make any serious money with it. Between 2 wives, 3 kids and 2 businesses, that pretty much ate up any "risk" capital...hehehe.
              3) I trade this signal like the $50K master account its attached to and size my trades and determine risk based on that, keep that in mind if you choose to use a risk multiple greater than 1X.

              A bit more about me can be found in the link below. It's important to me that your are comfortable not only with my signal, but with me as well:

              http://www.liveforextrading.info/for...-everyone.html

              Happy Trading!

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

              Comment

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