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My Journey Building a $1,000,000 Forex Portfolio
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Originally posted by RogerM View PostNice 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?)
Yeah, that's right. You're grandfathered under the old price.
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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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Originally posted by dazz1975 View PostHi 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
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.
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Originally posted by Nick View PostHey 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.
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.
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Originally posted by ultracat View PostI'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)
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.
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.
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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.
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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.
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