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My Journey Building a $1,000,000 Forex Portfolio

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  • #46
    Things are going well despite a bit of floating drawdown on FX Amplified and FX Viper.

    My portfolio now sits at $42k

    Click here to check out the most popular forex channel on YouTube

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    • #47
      Nice work Nick - and lovin the Geek Chic specs.

      (If we're already on a six month TA sub then it just renews at the old price - is that right?)

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      • #48
        Originally posted by RogerM View Post
        Nice work Nick - and lovin the Geek Chic specs.

        (If we're already on a six month TA sub then it just renews at the old price - is that right?)
        Thanks Roger

        Yeah, that's right. You're grandfathered under the old price.
        Click here to check out the most popular forex channel on YouTube

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        • #49
          Looking good Nick! Props for talking about TAs safe trading style he doesn't get as much credits as he deserves for keeping his DD low and short

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          • #50
            Hi Nick. I have been watching all of your video's and although it looks like you won't hit your target in a few years you are still getting results way better than any bank interest would especially in Australia. I am currently with FPMarkets.com.au with my CFD account and just opened up a FX account with a balance of $1000.

            I am looking at starting up another FX account and was wondering who you would suggest? I see on FXBooks.com you have three or four accounts with ICMarkets.com and two accounts with Axitrader.com. I am going to have a go at Smart Traders bot (SmartScalper).

            Cheers
            Darren

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            • #51
              Originally posted by dazz1975 View Post
              Hi Nick. I have been watching all of your video's and although it looks like you won't hit your target in a few years you are still getting results way better than any bank interest would especially in Australia. I am currently with FPMarkets.com.au with my CFD account and just opened up a FX account with a balance of $1000.

              I am looking at starting up another FX account and was wondering who you would suggest? I see on FXBooks.com you have three or four accounts with ICMarkets.com and two accounts with Axitrader.com. I am going to have a go at Smart Traders bot (SmartScalper).

              Cheers
              Darren
              Hey Darren,

              Thanks for taking the time to watch my updates

              You can go with any broker on this page: http://www.forexsignals.com/forex-brokers.html

              I have money with all of them and am happy with the way the signals perform with them.

              If you have any questions about one specifically please let me know.
              Click here to check out the most popular forex channel on YouTube

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              • #52
                Hey guys,

                After watching this video back it's a little more negative than I think is warranted. Everyone except for FX Viper and Joel Kruger are doing incredibly well.

                I decided to post it nonetheless because it's all part of documenting the journey of emotions that is FX trading.

                Click here to check out the most popular forex channel on YouTube

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                • #53
                  I find these updates valuable & thanks for being open & honest. Lets hope by next month Viper has come good with the U/CAD.

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                  • #54
                    Originally posted by Nick View Post
                    Hey guys,

                    After watching this video back it's a little more negative than I think is warranted. Everyone except for FX Viper and Joel Kruger are doing incredibly well.

                    I decided to post it nonetheless because it's all part of documenting the journey of emotions that is FX trading.
                    I'm glad you did post this, it shows your honesty and the real nail-biting world of FX trading. I just did a very, very simple analysis on Viper's MyFxBook and would like to suggest the following MM strategy to avoid these infrequent DD's Viper gets into. If you review the DD history (click on the Drawdown tab)

                    http://www.myfxbook.com/members/FXVi...account/616112

                    you'll see that other than the two larger DDs he's had in about 1 year of trading, he almost never exceeds 3% DD, even more rare are the occaisions he exceeds 5% DD. When he does though, it gets into what a lot of subs seem to think is nail-biting territory 10-15% or so.

                    Signal subs have the ability to set their own equity protecting SL via the trade copier. Based on the above I've had mine set at 15% as I consider this Viper's known max historical DD. That's what I suggest subs do who can take the stress of a 10 or 15% DD that may last a few weeks before being resolved. So Risk 1, max DD 15%; Risk 2, max DD 30% etc. Then there are two more "tiers" for increasingly conservative investors to use: 1) max DD 5% for each 1.0 of risk (you would have had 3 SLs of 5% each in 1 year) or 2) max DD 3% for each 1.0 of risk setting (you would have had 4-5 3% stop outs in 1 year). Obviously this reduces the profitability of the signal significantly, but I wanted to post it for anyone who is having a hard time with unrealized losses floating for days/weeks. At the end of the day, the signal would still be profitable (not in a loss or even at break even) for the year; much better than any bank account or CD out there. These MM strategies could be good for large deposits $50k, $100k etc. seeking to beat bank rates.

                    Yes I know this MM is obvious especially to you Nick. But I suppose if it is so obvious I have to ask why you haven't done it? Anyway I am posting this here mainly for novice subs who may not be aware of this data and/or the ability to set an account cut off via the trade copier.

                    Comment


                    • #55
                      Originally posted by ultracat View Post
                      I'm glad you did post this, it shows your honesty and the real nail-biting world of FX trading. I just did a very, very simple analysis on Viper's MyFxBook and would like to suggest the following MM strategy to avoid these infrequent DD's Viper gets into. If you review the DD history (click on the Drawdown tab)

                      http://www.myfxbook.com/members/FXVi...account/616112

                      you'll see that other than the two larger DDs he's had in about 1 year of trading, he almost never exceeds 3% DD, even more rare are the occaisions he exceeds 5% DD. When he does though, it gets into what a lot of subs seem to think is nail-biting territory 10-15% or so.

                      Signal subs have the ability to set their own equity protecting SL via the trade copier. Based on the above I've had mine set at 15% as I consider this Viper's known max historical DD. That's what I suggest subs do who can take the stress of a 10 or 15% DD that may last a few weeks before being resolved. So Risk 1, max DD 15%; Risk 2, max DD 30% etc. Then there are two more "tiers" for increasingly conservative investors to use: 1) max DD 5% for each 1.0 of risk (you would have had 3 SLs of 5% each in 1 year) or 2) max DD 3% for each 1.0 of risk setting (you would have had 4-5 3% stop outs in 1 year). Obviously this reduces the profitability of the signal significantly, but I wanted to post it for anyone who is having a hard time with unrealized losses floating for days/weeks. At the end of the day, the signal would still be profitable (not in a loss or even at break even) for the year; much better than any bank account or CD out there. These MM strategies could be good for large deposits $50k, $100k etc. seeking to beat bank rates.

                      Yes I know this MM is obvious especially to you Nick. But I suppose if it is so obvious I have to ask why you haven't done it? Anyway I am posting this here mainly for novice subs who may not be aware of this data and/or the ability to set an account cut off via the trade copier.
                      Thanks for the post Ultracat.

                      I don't like to double guess the traders and close trade prematurely. Partly because I trust the trader however it's mainly because my accounts are an example of what followers can expect if they follow one of our traders. If I go closing trades early it will lead to inconsistent results and cause a lot of confusion as people try to emulate my results by managing the signals.
                      Click here to check out the most popular forex channel on YouTube

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                      • #56
                        Hey guys,

                        I'm a little rosier this update. Not just because of the partial recovery of FX Viper, it's mainly due to me taking a step back and looking at my overall portfolio.

                        Aside from FX Viper and the Joel Kruger everyone else has been doing incredibly well

                        On this update I also put out the call for other traders to join the team. If you think you have the talent to become part of the ForexSignals.com team of traders please get in touch.

                        Click here to check out the most popular forex channel on YouTube

                        Comment


                        • #57
                          Great update Nick, have you ever spoken to 'goldenmember' in DonnaForex? His account >

                          http://www.myfxbook.com/en/members/T...account/965397

                          very great in my opinion, he is now doing a PAMM service, but personally asked him if he wished to do signals but refused....

                          Comment


                          • #58
                            What do I look for when selecting a trader?

                            Hey guys,

                            I'm going to start my video's with a little more information than i have offered previously. I'll be talking about different aspects of the site so you can get a better feel for how it all fits together.

                            On this update I offer more detail on how I select traders as well as giving you a sneak peak into a new system that I'm hoping to introduce in the next few weeks.



                            Apologies for the editing error towards the end of the video.
                            Click here to check out the most popular forex channel on YouTube

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                            • #59
                              Introducing DayFox

                              Hey Guys,

                              On this update I detail the latest trader to join our team - DayFox!

                              I also talk about the challenges of finding traders that will meet clients expectations and how we need to compromise.

                              Account growth was static during July due to a couple of traders struggling.

                              Click here to check out the most popular forex channel on YouTube

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                              • #60
                                Cool thread, Site and Journey.....Got me hooked but no update this week. TUT TUT lol

                                Keep up the Youtube updates and I'm becoming active in the chat room

                                Regards
                                JD

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