Hey Vijay,
Will be interesting to hear a response to Waleed's point regarding Yen pairs when you have the chance.
In relation to max dd, and the vexed question of 20% or 25%, I guess everyone is rightly more alert to this than they were before DayFox, whose abuse of his own rules made the Smart Scalper episode look like a very minor transgression in comparison.
The truth is that this system has altered a little since inception, as most systems do, particularly once a trader has a history and a reputation to protect. You did start off with 35% max dd as you made clear to Zoli, early on in this thread. Since then the worst case scenario has wavered between 20% and 25%. In a discussion with Louise on Page 11 of this thread you mentioned 20% as the maximum dd which is perhaps where BMM has his figure from.
I know that historically we have been out to 17% but people do need to know (a) when you will cut and (b) that you will cut when we get there, particularly in the light of the 43% on Smart Scalper. I no longer have any doubt about the latter, but it would be very useful to have clarification on the former.
For my own part, I'm planning as an experiment, to run Smart Trader at 2x risk on a small account where I can afford a big draw down. I'm assuming 25%, so a worst case for me of 50%, a risk I am happy to take, as the numbers involved are not large. However, if you came out and said 20% or 30% or whatever as an iron clad commitment in the Master, this would change my calculations significantly.
I agree very much with those who are asking in general for more solid dd statements from all the traders on the site. I know it's probably not practicable but it will mollify everyone when the inevitable happens and money is lost.
I am aware of the max dd feature in the Control Panel but I would much rather the closing of signals be at the discretion of a responsible trader like yourself.
Will be interesting to hear a response to Waleed's point regarding Yen pairs when you have the chance.
In relation to max dd, and the vexed question of 20% or 25%, I guess everyone is rightly more alert to this than they were before DayFox, whose abuse of his own rules made the Smart Scalper episode look like a very minor transgression in comparison.
The truth is that this system has altered a little since inception, as most systems do, particularly once a trader has a history and a reputation to protect. You did start off with 35% max dd as you made clear to Zoli, early on in this thread. Since then the worst case scenario has wavered between 20% and 25%. In a discussion with Louise on Page 11 of this thread you mentioned 20% as the maximum dd which is perhaps where BMM has his figure from.
I know that historically we have been out to 17% but people do need to know (a) when you will cut and (b) that you will cut when we get there, particularly in the light of the 43% on Smart Scalper. I no longer have any doubt about the latter, but it would be very useful to have clarification on the former.
For my own part, I'm planning as an experiment, to run Smart Trader at 2x risk on a small account where I can afford a big draw down. I'm assuming 25%, so a worst case for me of 50%, a risk I am happy to take, as the numbers involved are not large. However, if you came out and said 20% or 30% or whatever as an iron clad commitment in the Master, this would change my calculations significantly.
I agree very much with those who are asking in general for more solid dd statements from all the traders on the site. I know it's probably not practicable but it will mollify everyone when the inevitable happens and money is lost.
I am aware of the max dd feature in the Control Panel but I would much rather the closing of signals be at the discretion of a responsible trader like yourself.
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