FX Viper Trade Discussion (Archived Thread)

[grgr]

Viper's knows what he's doing. I asked a question earlier, about Dynamic risk setting in Simple Trader, that was supposed to be available in 2015, that automatically adjusts risk based on the currency value at the time of a trade?

good question, a year ahead and it's still "going to be available in early 2015"

[Waleed121]

I will publish it as soon as I have the things set up and running I need to setup some stuff on a VPS and let it run from there because it will be a lot automated stuff involved which I have been putting together. It will be trading mostly EURUSD, GBPUSD, EURJPY, GBPJPY, USDJPY, AUDUSD, USDCAD. I estimate in 2 weeks I will have everything together and ready to publish.

Nothing to publish if you cant show 2 years solid proof +

You;ve been mentioning how successful you are but havent shown proof. So rest your case :-)

[Waleed121]

I just had a chat to Jeff and we've decided to do a brief audio interview tomorrow and distribute it for you guys so you can get more information about what he's thinking.

If there are any questions you want me to ask aside from the obvious please let me know.

I'm assuming Thursday evening GMT before NFP?

[plasma]

Nothing to publish if you cant show 2 years solid proof +

You;ve been mentioning how successful you are but havent shown proof. So rest your case :-)

since 2013

[whitesnake01uk]

Takes half a day max to sort that out mate. All I can smell is B.S!!!!!!!!!!!!!

[Waleed121]

since 2013

Was talking about fxzero and his proclaimed success lol.

[Neptune]

Tomorrow during the interview nick please confirm that nobody with a risk set up to 4.0x needs to deposit more money into their account. Mine is 3.5x due to the Aussie dollar going lower causing my risk to automatically rise. Will I be safe from any form of margin call?

[plasma]

Was talking about fxzero and his proclaimed success lol.

Since 2013 Fxzero had no time to connect to Myfxbook I meant

[Waleed121]

Since 2013 Fxzero had no time to connect to Myfxbook I meant

WE call people who don't talk the walk as "wafflers" HAHA

[primi]

Primi, I don't think you understand how leverage works... Because unless you're running at very low leverage (below 1:100) or you've got your risk turned up over 5x, there shouldn't be any reason whatsoever to go topping up your account.

It would take a further 500+ pip move against us for leverage to come into play.

If you're worried about the level on your account, check the Margin Level % at the bottom of MT4. Provided you're over 1000% then you really don't have anything to worry about in the short term.

That's what I ment. If you've got risk turned up above 3 then you should be prepared. We have easily 200 pips of upside potential and that will double our current DD unless Viper takes action. Then all you need is a spike above supply and you're toast. And that can happen. It may not be a sustainable move but if you get knocked out what good does it make?

So make plans ahead of time when there's time to think. In the heat of the battle you will make mistakes or not even have time to do anything about it. Plus you will not be thinking clearly.

Also make sure you don't have max allowed lot size set too low. If he decides to hedge it may only be one large position.

[pwnsweet]

-$32k in drawdown between Jeff and Goldstar. Gotta admit I'm nervous.

Can someone please confirm that if I want to risk the same percentage of my account as Jeff, I need to set my risk multiplier as 0.72 (current AUDUSD rate).

[grgr]

this is right pwnsweet

[Gunther]

I just had a chat to Jeff and we've decided to do a brief audio interview tomorrow and distribute it for you guys so you can get more information about what he's thinking.

If there are any questions you want me to ask aside from the obvious please let me know.

Nick i have a few questions please:

If hedged will we need to consider the lot max we have set on our account, default 1, but would this need to be set a lot higher?

At what point (price) will action be taken?

Will this action take place before NFP or after, because if the NFP is poor and EU jumps then we could face a lot bigger DD

At what point of DD will Viper cut, if this is even a option, 10%, 20% assuming risk of x1

[Waleed121]

Nick i have a few questions please:

If hedged will we need to consider the lot max we have set on our account, default 1, but would this need to be set a lot higher?

At what point (price) will action be taken?

Will this action take place before NFP or after, because if the NFP is poor and EU jumps then we could face a lot bigger DD

At what point of DD will Viper cut, if this is even a option, 10%, 20% assuming risk of x1

No way will Viper cut those trades believe me - he will trade out of it strategically like he has in the past.

[fxzero]

Nick i have a few questions please:

If hedged will we need to consider the lot max we have set on our account, default 1, but would this need to be set a lot higher?

At what point (price) will action be taken?

Will this action take place before NFP or after, because if the NFP is poor and EU jumps then we could face a lot bigger DD

At what point of DD will Viper cut, if this is even a option, 10%, 20% assuming risk of x1

It was already said that Viper is not reading this forum because he needs to focus on the DD and how to get out of it as it is slowly becoming an issue. One of his master (what irony of this wording) accounts is at -20% (700k dd in absolute terms!) and he for sure will have to cut the losses soon if he doesn't want to blow off a 3.5 million account: http://www.myfxbook.com/members/FXVi...markets/960020