Smart Scalper

[primi]

interesting, so what your saying is ignore gaps and ignore RSI? not even side line an option?
[ATTACH=CONFIG]754[/ATTACH]

Exactly!

[primi]

Tell you what guys, at least those that believe in indicators. Here are 2 indicators that seem to work.

1) if Nick starts running a signal on a 10x risk account, close all your trades, disconnect the signal and RUN
2) if Nick starts making too much noise about a signal, reduce your risk and reconsider your commitment

[arkoon]

Until now your RR was very very good
But after this......
You would have close -20 or -25% no worries you could make it back in 2 months. We were ready for this but not for -43%.
Too bad you didn't respect the rules.
Life continues. Let's calm down and take a breath.

[adele]

I'm pleased to confirm Smart Scalper has passed trail trader status.

We finally have all the information needed to place this as an endorsed signal on our site!

My initial concerns have been alleviated through consistent gains and solid risk management. 9 consecutive profitable months with 200%+ returns is quite astounding in my view.

I can also confirm that Vijay has shown me several accounts from several of his private investors that total in the hundreds of thousands.

I'll be running a public account on my portfolio in the coming weeks. Once it's set up I'll share a link for you guys to follow.

Congratulations Vijay, your view on the market and the stability when steering your ship through drawdown is incredibly impressive.

Keep up the great work!

I'm wondering if Vijay may have become too confident after Smart Scalper became an endorsed signal. Or become pressured to maintain his record of 9 consecutive profitable months, that's why he didn't want to cut his losses earlier. Whatever the reason, I hope he will remember that what won him the endorsement was his original winning strategy and risk management.

[jprize]

Averaging in....gridding...martingale...Whatever you like to call it. These strategies that make bigger and bigger bets as the trade moves against them will indeed win most of the time...but are set up to fail eventually. I recognized that in this system, but convinced myself otherwise...Should have listened to my first impression.

[reinerh]

http://www.myfxbook.com/members/vijayinvites/smartscalper/1010541

this account only wiped out 4 months of profit, thats not too bad really. here the rr is quite good

dont understand why the master wiped out so much more = about 8 months of profits.

can anybody make sense of that ??

[freddy250]

Will the ea continue as normal now?

[fxturtle]

interesting, so what your saying is ignore gaps and ignore RSI? not even side line an option?
[ATTACH=CONFIG]754[/ATTACH]

Gaps are only for retails. Big boys and girls traded what you call gap.

Ignore RSI? up to you, but I do not use them at all because I do not believe in them. No indies at all, no time frame. Just PA and S/R levels.

This is an example of one of my charts.

http://www.mql5.com/en/charts/2340733/eurusd-m3-pepperstone-financial-pty

Sorry Vijay to hijack your thread.

[fxturtle]

Tell you what guys, at least those that believe in indicators. Here are 2 indicators that seem to work.

1) if Nick starts running a signal on a 10x risk account, close all your trades, disconnect the signal and RUN
2) if Nick starts making too much noise about a signal, reduce your risk and reconsider your commitment

Very funny Primi.

[invlouis]

He will be back....

[arkoon]

Averaging in....gridding...martingale...Whatever you like to call it. These strategies that make bigger and bigger bets as the trade moves against them will indeed win most of the time...but are set up to fail eventually. I recognized that in this system, but convinced myself otherwise...Should have listened to my first impression.

Averaging not a problem if you have a SL you can recover in a few months.
If you have no SL or if you don't respect your max DD, indeed big problem.

[aletrader]

Averaging in....gridding...martingale...Whatever you like to call it. These strategies that make bigger and bigger bets as the trade moves against them will indeed win most of the time...but are set up to fail eventually. I recognized that in this system, but convinced myself otherwise...Should have listened to my first impression.

So you invested in that system? I thought you read my post here : [EDIT: REMOVED LINK]
For me today the same boring thing : Profit ! Any day small profit.... with no risk !

[aletrader]

For people who like this kind of risky strategy..... this is the best time to invest because statistically the " BAD event " is just happened so the probability that happens again is limited. Anyway take always in account the risk of the strategy. Now I don't invest anymore in risky strategy anyway when I did in the past I worked with the technic of " PARK Account " in that way you can reduce the drawdown from -40% to - 10% for instance.

[jprize]

Sooooo Aletrader, I asked you last time you were spamming here to provide fxbook link to your personal account, and you could not...because you are a faker/spammer/scammer. Please go spamming elsewhere.

[SmartTrader]

Hey Guys,

I know we are all hurt, badly. i have few things to say

First, i would have closed at 30-35%, its a loss, but stil not as big as i took. Why i did not close was, i did not find any reason why AUD was falling. I did not find any genuine reason in news wires. when GBPAUD was raising i looked for a reason, if it was some news, i would have closed at the mentioned SL level. Because i couldnt find a reason, i waited for some more time, to take smaller losses but it kept raising. We have lost a lot.

For now i have disabled the EA, and today i will not make any trades. But i will resume trading, and i will let you know when. Its good not to trade GBP for a while till the scottish referendum results in something.

I am not running away anywhere, i will be available in chat, and i will answer to each and everyone of you who has a question to me.

Yes, i ll make it all back.