• Trading Room
  • Trusted Brokers
  • Blog
  • Forex Forum

Announcement

Collapse
No announcement yet.

FX Viper Trade Discussion (Archived Thread)

Collapse
This topic is closed.
X
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • #31
    I'm posting in here so hopefully I'm not going to bother Viper but I think US traders at 50:1 leverage may be in trouble here. I hit MC on one account and the other doesn't have enough margin to open pound trade. The good news is I'm trading with profits so it pays to be a long-term follower.

    Comment


    • #32
      Originally posted by xfire22 View Post
      I'm posting in here so hopefully I'm not going to bother Viper but I think US traders at 50:1 leverage may be in trouble here. I hit MC on one account and the other doesn't have enough margin to open pound trade. The good news is I'm trading with profits so it pays to be a long-term follower.
      Really? What was your risk multiplier? I'm not running anything hot and I'm at about 800% margin on a 1:100 account.

      Comment


      • #33
        Sorry left that out. Running Viper and Trusted at 1.5 each.

        Comment


        • #34
          Originally posted by xfire22 View Post
          Sorry left that out. Running Viper and Trusted at 1.5 each.
          Wow, that's essentially triple risk and on a 1:50 leveraged account. That's absolutely too much, Viper commented about it in the other thread.

          Plus, EU chart is still bullish all the way, nothing bearish about it at all. We can easily go up another 80 pips or so. What happens then is anybody's guess. The purpose of this statement is not to put people into panic mode. In my opinion it's better to know what can happen than to blindly believe it's going down because we're in a couple of shorts. Viper will trade us out no doubt. But it's a must to know what can happen and is happening right now and adjust expectations (and risk) accordingly for any future event of such nature.

          Comment


          • #35
            Originally posted by primi View Post
            Wow, that's essentially triple risk and on a 1:50 leveraged account. That's absolutely too much, Viper commented about it in the other thread.

            Plus, EU chart is still bullish all the way, nothing bearish about it at all. We can easily go up another 80 pips or so. What happens then is anybody's guess. The purpose of this statement is not to put people into panic mode. In my opinion it's better to know what can happen than to blindly believe it's going down because we're in a couple of shorts. Viper will trade us out no doubt. But it's a must to know what can happen and is happening right now and adjust expectations (and risk) accordingly for any future event of such nature.
            I think we have all probably underestimated the risk. I think the 3x the MAMs run is way too high. I'm at 2.2 and feeling edgy. 1 x risk is enough from here on. Easy to get too greedy when things are going well

            Comment


            • #36
              Originally posted by primi View Post
              Wow, that's essentially triple risk and on a 1:50 leveraged account. That's absolutely too much, Viper commented about it in the other thread.

              Plus, EU chart is still bullish all the way, nothing bearish about it at all. We can easily go up another 80 pips or so. What happens then is anybody's guess. The purpose of this statement is not to put people into panic mode. In my opinion it's better to know what can happen than to blindly believe it's going down because we're in a couple of shorts. Viper will trade us out no doubt. But it's a must to know what can happen and is happening right now and adjust expectations (and risk) accordingly for any future event of such nature.
              Can you show me where it was mentioned 3X was "too much" for 1:50 accounts prior to the statement today? It wasn't mentioned until today. Also if 1:100 is acceptable at 3X why would 1:50 not be acceptable at 1.5X? I don't blame Viper at all as my risk settings are my only personal preference. I was only making a statement that US traders could be at risk in which I was right after reading the other thread.

              Personally I think today was an unusual trading day for Viper and Trusted, both being in 3 sets of drawdown with different pairs.

              I closed down the CAD basket and GBP basket and all is fine. Yes I lost almost 5k today but it doesn't bother me because I'm still up 35k for the year. I feel pretty comfortable as well that the month will end as profitable for us US traders who had to take measures today to protect their equity.

              Cheers, happy trading!

              Comment


              • #37
                Originally posted by The Hobbit View Post
                I think we have all probably underestimated the risk. I think the 3x the MAMs run is way too high. I'm at 2.2 and feeling edgy. 1 x risk is enough from here on. Easy to get too greedy when things are going well
                Thank you Hobbit, this was my point actually. "Recommended risk" is only recommended until it proves to be too much - there was no way of knowing prior to today that 3X was too much for 1:50 accounts.

                Comment


                • #38
                  Come on guys, the master account is 1:200 a bit of simple math will stop the greed/fear scenario

                  Comment


                  • #39
                    im on 3x's risk, an im ok with the DD, and this is not of the level yet of the other DD session last year an to be honest Viper got me through that unscathed at 4x's and everyone doubted him them, remember try keep cool, hes very passionate about us subs, and he will do everything in his power to get us out of this current DD, im personally not concerned, maybe thats because ive been here before, the least we can do is sit back and watch, or as its all our own accounts close the trades manually at levels you feel ok with

                    i wont lie i am looking forward to getting out of this with all of you, and congrats to the us subscribers who took the appropriate actions,
                    Last edited by dupapa; 05-06-2014, 08:03 PM.
                    http://www.myfxbook.com/members/dupapa

                    Comment


                    • #40
                      Originally posted by xfire22 View Post
                      Can you show me where it was mentioned 3X was "too much" for 1:50 accounts prior to the statement today? It wasn't mentioned until today.
                      No, it wasn't mentioned until today. But you are running 2 signals (pretty much identical) on the same account on top of that. That basically doubles your risk immediately. That's why it's absolutely too much. On it's own you could perhaps even get away with it.

                      Comment


                      • #41
                        I'd rather run two signals at 1.5 each that are identical than 1 at 3.0 - seems to reduce risk somewhat because one of the traders may get out of a basket. Again, in no way was I complaining today - just making a statement that there may be some US traders in a sticky situation today including myself.

                        It is unfortunate though that I had to exit some baskets as I know what the outcome will be.... GREEN PIPS.

                        Comment


                        • #42
                          May the pips be with you then!

                          Comment


                          • #43
                            @Xfire22:
                            That's exactly what I believe regarding Viper and Trusted coupled in the same account... But although they trade very similar, I didn't thought their DDs could correlate so badly at the same point in time... And with 1.7-2.3X each one, it huts for sure!

                            Comment


                            • #44
                              Originally posted by caddyhexe View Post
                              Come on guys, the master account is 1:200 a bit of simple math will stop the greed/fear scenario
                              My account is 3x on the MAMM but based on this for signal account, my formula would be 2 or 3 times risk according to preference & then for 100:1 account take 50% of that which would be 1x risk or 1.5x risk or 0.5x risk to trade at the same risk as master but with 100:1 account.

                              Comment


                              • #45
                                Can't wait for USDCAD to take off, I did my own trade at 1.08214 which is up nicely now.

                                Comment

                                Working...
                                X