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  • Bad luck with this signal so far.. Lets hope some good trades come in like we witnessed on myfxbook!

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    • "If" we get out of this trade albeit bare naked with our boots on, I am definitely halving my risk. Looking at a pink (margin call) mt4 screen is not fun. Sure we all new the risks but it is the 50% dd rule that has got my knickers in a twist.

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      • Well so much for the 50% DD rule
        I have been margin called on all trades except one and it is 30 pips in the red right now
        In total I' am at -78% in closed deals and -62% in DD at the current time with what little bit of my account is left.

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        • Guys learn first trade on your own, than its easier to judge about what a so called signal provider is doing. I came out on all his bad trades with decent profit, except one small account where I run on only 20% of his risk. There he wiped me out 16% so far and its gonna be more.. but there is a tomorrow for this account and this is what matters in the end. No greed= no hassle!
          As long as you don't understand what he is doing or as long as you cant read a chart don't go with signal providers.

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          • If you want to close trades at 50% DD then you can set the MAX DD % in your control panel....use it.

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            • My account whith 2000 euros is near to end, i can't re-invest again... so BYE BYE friends i wish the best. Back to job to save another bucks for the next venture..

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              • A trader respects his/her rules of trading, while a gambler doesn't. Respecting the trading rules also means respecting the customers, because our investors gauge the risk according to the stated rules. Nick, I think this website is to provide professional trading signals, not another online casino, right?

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                • No, you’re wrong Kenji… But good that you started to learn.

                  Have you at least bothered a little to read how the Simple Trader Copier work, and how you can adjust Risk/Money Management, either by a Risk Multiplier factor, a Lot Multiplier or by fixed lots? Do you even know that anyone can be able to set a Max% Drawdown Allowed?

                  If you don’t, you should have asked Nick, Phillip or Will before hoping that someone else gives you a lesson through here.

                  Sorry if I sound harsh, but it's the truth.
                  Anyway… Good luck pal!

                  P.S. And as HOPP already said:

                  Originally posted by HOPP View Post
                  Guys learn first trade on your own, than its easier to judge about what a so called signal provider is doing. I came out on all his bad trades with decent profit, except one small account where I run on only 20% of his risk. There he wiped me out 16% so far and its gonna be more.. but there is a tomorrow for this account and this is what matters in the end. No greed= no hassle!
                  As long as you don't understand what he is doing or as long as you cant read a chart don't go with signal providers.
                  ...

                  Originally posted by Kenji View Post
                  So, based on the described notion of DD explained here, I conclude that the 50% DD adherence mentioned by SS is somewhat meaningless.
                  Here's how it is so.

                  Assume this:

                  SS
                  ---
                  Balance: $10,000
                  Open Trades Loss: -$5,000 (assume 5 lots each of $1,000)
                  DD: 50%

                  You
                  ---
                  Deposit Capital: $5,000
                  Open Trades Loss: -$5,000 (assume 5 lots each of $1,000)
                  DD: 100% (leading to margin call!)

                  Hence, for those who participate with unequal equity (meaning lower sum) to SS, and with Risk Multiplier of 1 or whatever number you're comfortable, your DD will be different from his.

                  So, for those with a much lower risk multiplier than 1, like 0.1, for example, you will not mind SS going way beyond 50% DD, because you can take the hit better than him, in fact.

                  But for some others, they would have busted their account leading to margin call even if SS adhered to his 50% DD.

                  Isn't it?
                  Originally posted by Kenji View Post
                  After reading the few mails on the issue of margin calls, I am inclined to say.....read my previous post.

                  The crux of this margin call issue is due to the fact of disparity of equity between master account and client account.

                  This would not have happened if the proper configuration of the client account was properly advised upon subscription of signal service, like for example, the size of the loose change vis-a-vis the balance at master account, the correct risk multiplier to be advised either by signal provider for the size of loose change used to participate in this project. This is because signal provider is trading multiples of lots in transactions and multiple transactions due to use of leverage (1:500). Hence, if the client is not configured prudently, it will hit margin call even though master account can still take more hits from the market.

                  This, in my humble opinion, is due to a lack of proper advice when subscribing to the signal just because there is a blanket indemnity of "VERY HIGH RISK". Might as well say this is a GAMBLE.

                  If proper advice is given on how the copier is able to mitigate the risk by adjusting the risk multiplier and size of lots, everyone should have been able to ride those whipsaws without hitting margin call.

                  Am I right?
                  Last edited by VictorTous; 10-24-2013, 04:31 PM.

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                  • Is this trader just closing losing trades for fun.. Last 2 trades were kept and ended up just closing them? I hope he understands and makes a recovery!

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                    • Agree VictorTous , my fatal error was don't adjust risk parameter to 0.2 or 0.3 , my greedy fantasy leave it at 1 and my 1:500 don't help nothing whith this risk setting.

                      I was forgot how many times i was read and study money management, at the end my greed take the hand. And i pay for my sins...

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                      • Originally posted by VictorTous View Post
                        No, you’re wrong Kenji… But good that you started to learn.

                        Have you at least bothered a little to read how the Simple Trader Copier work, and how you can adjust Risk/Money Management, either by a Risk Multiplier factor, a Lot Multiplier or by fixed lots? Do you even know that anyone can be able to set a Max% Drawdown Allowed?

                        If you don’t, you should have asked Nick, Phillip or Will before hoping that someone else gives you a lesson through here.

                        Sorry if I sound harsh, but it's the truth.
                        Anyway… Good luck pal!

                        P.S. And as HOPP already said:



                        ...
                        You're totally missing the point. It's the trading strategy of SS that a follower trusts and subscribe to. If one is to change all the parameters to suit one's own risk and money management appetite, then why even subscribe to the signal for? There is nothing to learn when one is following a signal. Just ensure the signal delivers and the copier has all the features to allow a subscriber to copy the trades from the master account wholesale, without exposing the follower to any slippage risks, like closing the trades when market volume is thin when weekend comes, for example.

                        For those that manually close the trades and withdraw the profits while the master account is still actively executing the trade strategy, my opinion is why even bother to subscribe to the signal if you're going to trade yourself? Nevermind.....

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                        • Originally posted by kaltrax View Post
                          Agree VictorTous , my fatal error was don't adjust risk parameter to 0.2 or 0.3 , my greedy fantasy leave it at 1 and my 1:500 don't help nothing whith this risk setting.

                          I was forgot how many times i was read and study money management, at the end my greed take the hand. And i pay for my sins...
                          I don't think it's all your fault, kaltrax. If SS could follow his rule to close all the positions at 50% DD, your account could survive this trade, and could fight for another day...

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                          • Nick, can you please confirm with SS if he is planning to continue his plan and target or he will stop ? would appreciate such reply before the two free weeks end to avoid such hassle
                            thanks in advance

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                            • margin call, $1000 gone;] lesson for me: i'll strictly use max.%DD feature (plus e.g.10%) from now according to initial trader's signal info (so in this case it should be 60% in total)...if it hits the DD, i'll quit the signal. and now same as kaltrax, back to regular job to make it back;]

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                              • WTH is going on? Not only has he broken his DD rules, but Nick has removed him from the Simpletrader website. Is the signal now gone? Not recommended? A joke?

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