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  • Originally posted by VictorTous View Post
    @Nick and others:

    Here is what concerns me about having a DD cap with this kind of systems/strategies.
    I believe you trade with quite a large account. In which case, bearing in mind your concerns about a cap, how do you manage your risk?
    Do you run the signal at a very low multiplier?
    I would be interested to know if there are other ways to manage the risk.

    Thanks,
    Bill

    Comment


    • Hi Everyone,

      I am deeply hurt and my apologies not for taking losses but for going beyond the said limit. I only did that because i did not find a solid reason why AUD was falling heavily, and in my mind i was thinking that such a sudden surge without any news will not survice. Also for the fact that GBP is in looming danger. So i even took a 5th trade, you guys would have noticed that i usually dont take the 5th trade and i wait after the 4 trades. i was looking to close at BE or may be at smaller losses. But it turned out to be a different story. Currently i disbaled the trading and i am working on the charts to incorporate some key elements, i dont want to change the system too much, as i am confident in this approach. There are some static elements - 30 pips another trades, 20 pips Take profit, which are just fixed. By adjusting these two with the volatality, i will try to improve the risk reward ratio. That being said i need to do lots of work on this and i am currently doing this.

      Once again my apologies for all the people who lost money. I myself lost a lot of money and bigger opportunities with respect to managing money. But i a not giving up here. i am extremely confident that we will go above our previous equity highs. Lets bring back the smiles and money.


      Good luck to all.
      Trade the market, not the trader

      Comment


      • Quoting Jarrat here

        Originally posted by SmartTrader View Post
        Today I’m looking for selling opportunities on EUR/AUD with EUR rallying against the AUD for no apparent reason placing EUR/AUD at a very attractive selling price.
        This is exactly what made me wait on the GBPAUD. i did not see any reason for AUD to fall, thats the reason i waited.
        Trade the market, not the trader

        Comment


        • Quoting Jarrat here
          Originally posted by JarratDavis View Post
          Today I’m looking for selling opportunities on EUR/AUD with EUR rallying against the AUD for no apparent reason placing EUR/AUD at a very attractive selling price
          This is exactly what made me wait on the GBPAUD. i did not see any reason for AUD to fall, thats the reason i waited.
          Trade the market, not the trader

          Comment


          • Did anyone have an equity stop set in risk management? Mine should have taken me out of the trades a little sooner but did not seem to function.

            Comment


            • Originally posted by WhiteApe View Post
              Did anyone have an equity stop set in risk management? Mine should have taken me out of the trades a little sooner but did not seem to function.
              The problem with this is that one trade was closed earlier (the first one in the series). This immediately reduces the drawdown (turns it into a hard loss). Following that the price continued to run against the trades, increasing the drawdown until they were closed.

              This is one of the problems with the setting. It does not work unless all the trades are left open until the limit is reached.

              Comment


              • Originally posted by BillHuppert View Post
                The problem with this is that one trade was closed earlier (the first one in the series). This immediately reduces the drawdown (turns it into a hard loss). Following that the price continued to run against the trades, increasing the drawdown until they were closed.

                This is one of the problems with the setting. It does not work unless all the trades are left open until the limit is reached.
                Ah comprendo! Thank you very much for that - it is indeed a major drawback with the setting.

                Comment


                • Originally posted by WhiteApe View Post
                  Did anyone have an equity stop set in risk management? Mine should have taken me out of the trades a little sooner but did not seem to function.
                  It scans your equity every 30 seconds, so in a fast moving market it can push out a bit further than your cap.

                  This is to reduce the processing power and speed up the trade execution. There is a full explanation inside your control panel next to the setting.
                  Click here to check out the most popular forex channel on YouTube

                  Comment


                  • Originally posted by SmartTrader View Post
                    Quoting Jarrat here


                    This is exactly what made me wait on the GBPAUD. i did not see any reason for AUD to fall, thats the reason i waited.
                    Reason or no reason, but the market obviously did not agree with you for it has its own reason as well. One has to give, and in this case its you. The market doesn't care.

                    Cheers,
                    Fxturtle

                    Comment


                    • Sorry to see what happened to SS Vijay but we've still got your back. We are in Forex for the long run and not some get rich quick scheme. Let's not forget that despite this loss, it's still up 78.09% from December last year. Name me an investment strategy that can provide these sort of gains.

                      End of August and September saw many signals both automated and manual strategies hit pretty hard and that's just the nature of the game.

                      Comment


                      • Yes we all knew it would come eventually. Just try to keep the loss at a set level so we all know what we're getting into, then there would be absolutely no complaints. Good luck getting back on track

                        Comment


                        • Originally posted by SmartTrader View Post
                          Hi Everyone,

                          I am deeply hurt and my apologies not for taking losses but for going beyond the said limit. I only did that because i did not find a solid reason why AUD was falling heavily, and in my mind i was thinking that such a sudden surge without any news will not survice. Also for the fact that GBP is in looming danger. So i even took a 5th trade, you guys would have noticed that i usually dont take the 5th trade and i wait after the 4 trades. i was looking to close at BE or may be at smaller losses. But it turned out to be a different story.

                          Good luck to all.
                          Vijay, I think it's an important question to ask at this point given what has just occurred; but are our funds with SmartTrader at risk also? Do you think you will hesitate to pull the trigger when you find yourself in the same situation?

                          Comment


                          • Hey guys check outCapture.PNG this absolute worthless clap-trap!!! It means absolute zero, the expert hero members on the forum told me so. If I knew this before, I could have saved myself a lot of time and money!!!!

                            Comment


                            • Originally posted by simonb View Post
                              Vijay, I think it's an important question to ask at this point given what has just occurred; but are our funds with SmartTrader at risk also? Do you think you will hesitate to pull the trigger when you find yourself in the same situation?
                              No simonb, with smarttrader its different and also, usually i get the trend change indicators before we reach 15% DD, so there will still be lot of time for me to book losses, if you had seen, two months ago i have booked 6% losses. Loss booking is not new to me.
                              Trade the market, not the trader

                              Comment


                              • Hey Guy,

                                Just want to let you guys know that I will resume trading from monday.
                                Trade the market, not the trader

                                Comment

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