Silent Specialist

[nzfriendlee]

I think its time to forget SS. Bye SS!!

[yvancoronado]

And iy happened again.. My account blew again for the 2nd time in 2 weeks..

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[fc991418]

i just reduced my leverage account to 1:200 instead of 1:500.
Nick, do you think it's a good way to avoid high risk because my lower balance than Silent ?

[dkoster77]

At least you know someone who has the cajones to pile on the S&!+.

[Nick]

As a client which already lost few weeks ago around 2000Euro on this signal, refunded his account and started again this week to see that my new account is almost blown away I start wondering what is going on here.
Is this trader for real? Didn't he learnt from previous mistakes? Or maybe he is doing this intentionally. No one which wants to preserve his capital trades like that. 18 trades opened on the same pair. The PA makes higher highs, trend is clearly bullish for few weeks now...so what's the point of keeping this basket of trades opened so long. IMO it's a childish behavior, getting married with a loosing one for so long.
Nick any opinion on this?
Why the trader keeps on adding? When he takes profit he takes an average 10-20 pip and he never adds to a winning one but when he looses we accepts 18 looser with an average of 100pip

Hi Cris,

He has always traded this way.

The mistake last time was holding onto a losing trade beyond the 50% cap.

I understand everyone thinks the GPBJPY is heading to the heavens, however his strategy dictates otherwise.

All I can suggest is you hold on to the hand rail and please don't put your hands outside the carriage.

[nzfriendlee]

if you go to this link and click on daily chart http://www.fxstreet.com/rates-charts...jpy&saxobank=1 , you will see what SS might be seeing.

Thanks! I saw this chart attached.GBPJPY.jpg

[recint]

if you go to this link and click on daily chart http://www.fxstreet.com/rates-charts...jpy&saxobank=1 , you will see what SS might be seeing.

[recint]

Hi folks,

It seems that the price is trapped under Fib 78.6%. So hopefully the price will reverse soon. Lets cross fingers and be patient!

From What high and low did you draw your fib ?

Thanks

[nzfriendlee]

Hi folks,

It seems that the price is trapped under Fib 78.6%. So hopefully the price will reverse soon. Lets cross fingers and be patient!

[HOPP]

As a client which already lost few weeks ago around 2000Euro on this signal, refunded his account and started again this week to see that my new account is almost blown away I start wondering what is going on here.
Is this trader for real? Didn't he learnt from previous mistakes? Or maybe he is doing this intentionally. No one which wants to preserve his capital trades like that. 18 trades opened on the same pair. The PA makes higher highs, trend is clearly bullish for few weeks now...so what's the point of keeping this basket of trades opened so long. IMO it's a childish behavior, getting married with a loosing one for so long.
Nick any opinion on this?
Why the trader keeps on adding? When he takes profit he takes an average 10-20 pip and he never adds to a winning one but when he looses we accepts 18 looser with an average of 100pip

He added to the last winning ones, E/U and G/U, so far he did well. As discussed already with Nick and we agreed not to agree on this, is his way of setting the grids is indeed not very smart in my opinion. It leads to heavy DD and easily getting margin call, as the past has shown. And on top of that it makes it harder to get in profit, in the lucky case the price reverses.

[pinky1]

I wonder if he will close the trades when it hits 50% DD.

[cris47]

As a client which already lost few weeks ago around 2000Euro on this signal, refunded his account and started again this week to see that my new account is almost blown away I start wondering what is going on here.
Is this trader for real? Didn't he learnt from previous mistakes? Or maybe he is doing this intentionally. No one which wants to preserve his capital trades like that. 18 trades opened on the same pair. The PA makes higher highs, trend is clearly bullish for few weeks now...so what's the point of keeping this basket of trades opened so long. IMO it's a childish behavior, getting married with a loosing one for so long.
Nick any opinion on this?
Why the trader keeps on adding? When he takes profit he takes an average 10-20 pip and he never adds to a winning one but when he looses we accepts 18 looser with an average of 100pip

[marcs]

according to this discussion it becomes clear that with low funding it is not possible to set a reduced risk. Very logical, but until now this did not come to my mind...
There are only 2 options, if one wants less risk:
1) or add considerably more funding then the master account (565$ at moment)
2) or be able to open smaller minimum trades. A lot size of 0.01 is of course the minimum, so this is no option. But that is on accounts that have 100k standard lot size.

But what about a min lotsize of 0.01 on a 10k account?
Is such a thing available? It needs of course to have similar trading conditions as a standard 100k lot size ECN type account.
Are there brookers that offer this?

As idempotent pointed out earlier, anyone who has a balance less than SS's account is at a higher risk since now, SS only opens .01 lots, even if you have reduced risk setting, it won't make any difference since .01 is already d minimum lot..

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[HOPP]

I see the MyFXBook page has not been updated for 9 hours now

Its updated 30 minutes ago

[idempotent]

I see the MyFXBook page has not been updated for 9 hours now