FX Viper Trade Discussion (Archived Thread)

[edmond360]

Smart and dumb money exist in stocks, not in forex. What they do in forex is take out stops and bids but thats all to it.

Who told you that? The smart money in forex is global macro hedge funds and the investment banks who process their orders. The reason stops get taken out is because the banks are scared the hedge fund knows something they don't know, they don't really want to take the other side of the trade, so they excute the order in a way that pushes the price toward the dumb money stops, and then use that liquidity instead.

[Nick]

Nick, can I ask something that I am sure many of us wish to know or maybe haven't thought about it but may be helpful anyway.

When Jeff was initially assigned to this website, what was the due diligence process used to have an indication that he was an experienced FX trader with proven returns? As he started roughly two years ago now so at the time may have had around 1 year or less track record. The reason I ask is funds I invest in elsewhere usually require the trader to have at least 3-5 years track records before actually working with them in the first instance.

So the question is as mentioned above what sort of track record did he have when you selected him as a trader for forexsignals.com? I believe he mentioned he previously traded stocks which is obviously different. But who is to say he has not blown up multiple accounts in the past, and if he has that is technically not a problem as no one is going to start out as an experienced FX trader.

Cheers

Hi Cboy,

Jeff actually joined before our existing due diligence processes were in place. We were lucky to come across him so early on when we were still finding our way and at the time I was willing to give anyone with 6 months history and an interest in working together a shot at offering signals. We build a relationship through him using our private trade copier at SimpleTrader on a number of his own HUGE personal accounts. We could see he was doing well for himself and put the idea of selling his trades via the trade copier through our site and thankfully he agreed

At the time he had over 12 months history on a couple of these big accounts and that was good enough for me. So he agreed to put $100k into a master account, make it public and see how things go, and here we are 3 years later!

I'm sure he's blown up accounts at some point in his life, but to be frank I wouldn't trade with anyone that boasted about never having blown up an account. If you haven't felt the sting and sorrow associated with failing it's unlikely you'll work as hard to actively avoid it again in the future.

[scottik187]

I don't frequent these forums too often, I find that reading everyone stressing out only stresses me out. Yes, I have been concerned recently about the DD and performance, however I have spoken to Nick and feel very assured that everything will be ok in the long run no matter how this thing plays out.

Sitting here and analysing every single trade that Jeff makes isn't doing anyone any good. A healthy conversation is great though. Maybe a better use of your intellectual and emotional capital would be to watch and learn how Jeff trades out of this DD, rather than criticise every move? The sell yesterday into the below predicted ADP was great...did you see the way the buys (on supposedly weak numbers) got eaten up by the sellers? Doesn't that say something about where the money is positioned/positioning itself? It also reflects that the wage growth was strong, which has been the last piece of the puzzle for the Fed.

Maybe, instead of calling for blood, take the opportunity to learn a little.

[Potter]

I don't frequent these forums too often, I find that reading everyone stressing out only stresses me out. Yes, I have been concerned recently about the DD and performance, however I have spoken to Nick and feel very assured that everything will be ok in the long run no matter how this thing plays out.

Sitting here and analysing every single trade that Jeff makes isn't doing anyone any good. A healthy conversation is great though. Maybe a better use of your intellectual and emotional capital would be to watch and learn how Jeff trades out of this DD, rather than criticise every move? The sell yesterday into the below predicted ADP was great...did you see the way the buys (on supposedly weak numbers) got eaten up by the sellers? Doesn't that say something about where the money is positioned/positioning itself? It also reflects that the wage growth was strong, which has been the last piece of the puzzle for the Fed.

Maybe, instead of calling for blood, take the opportunity to learn a little.

Well said Sir.

[littlemax]

Good comment Scottik in 'opportunity to learn a little'.

[rob1234]

Hi Cboy,

Jeff actually joined before our existing due diligence processes were in place. We were lucky to come across him so early on when we were still finding our way and at the time I was willing to give anyone with 6 months history and an interest in working together a shot at offering signals. We build a relationship through him using our private trade copier at SimpleTrader on a number of his own HUGE personal accounts. We could see he was doing well for himself and put the idea of selling his trades via the trade copier through our site and thankfully he agreed

At the time he had over 12 months history on a couple of these big accounts and that was good enough for me. So he agreed to put $100k into a master account, make it public and see how things go, and here we are 3 years later!

I'm sure he's blown up accounts at some point in his life, but to be frank I wouldn't trade with anyone that boasted about never having blown up an account. If you haven't felt the sting and sorrow associated with failing it's unlikely you'll work as hard to actively avoid it again in the future.

Excellent reply Nick!

Sent from my SM-N910C using Tapatalk

[marcus2207]

My brain can't work it out. Negative readings from today news and eur usd is going down. Why...

[taruh]

Maybe there were no more stops to hunt...

[Waleed121]

My brain can't work it out. Negative readings from today news and eur usd is going down. Why...

What news??

[Timothy24]

My brain can't work it out. Negative readings from today news and eur usd is going down. Why...

I dont know if this will help but eurusd got pulled down by the selling in eurjpy. Once it broke the intraday support it took out some stops so that accelerated the drop.

[taruh]

Unemployment claims @ 274k (expected 261k)

[Nick]

Hey guys,

We've had to start a new thread in order for posts to be picked up by the new version of this forum and the latest activity feed.

Please move the discussion to this thread: https://www.forexsignals.com/forum/f...cussion-thread