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  • Originally posted by timo View Post
    Thanks Vijay,

    Don't you think your latest max DD rules for your system should be either on page 1 of this thread, or on your signal sign up page?

    Last time I checked your signal sign up page it didn't have any max DD information. And the comments section directs questions to this thread, which is now 152 pages long.

    I don't think it is wise to keep something as important as a max DD setting info buried in a 152 page thread, or on chat room. Only a very small % of your followers would even visit the chat room, and the thread grows very quickly.
    Check the first page timo. it was updated with DD limit long time ago. Shouldnt you be checking the first page first before saying its not there in the first page? Ofcourse i stated 30% there.
    Last edited by SmartTrader; 09-15-2014, 06:07 AM.
    Trade the market, not the trader

    Comment


    • I did check the 1st page Vijay. I thought my comments made that abundantly obvious.

      I can see you are under pressure at the moment, but there is no need to be snappy.

      As clients, our job is to mitigate our risk.

      If a trader says he will not lose more than 30%, and then goes and loses 50% more i.e. 45%, then as a subscriber I need to know why this happened. And how it can be avoided in the future.

      Quite obviously the things you stated on page 1 did not match up to the things that happened last week.
      So surely you can understand our need to confirm things with you twice, and maybe even thrice now.

      Comment


      • Vijay, just thought id pop in an say...

        thanks for doing such a fantastic job so far, yes the loss was hard to stomach , but it gives us a target to beat at least,

        looking forward to making a recovery with you

        Good luck going forward to all, an thanks Vijay for modifiying the EA to try an negate the same scenario from happening again.

        im still up in profit, so for that a big thanks!

        Comment


        • Hey Guys,

          We are ready to resume trading on SmartScalper. I have done the following changes.

          1. Reduced the risk by 11%. So lots sizes will be little smaller than they used to be.
          2. Instead of taking each trade at every 30 pips, the EA will now take 2nd trade at 30 pips, 3rd at 40 and 4th at 50 pips away from the previous trade.
          3. Automated EA will take a maximum of 4 trades. After this EA will not take any new trades, and i will be managing the trades myself. So at the opening of the 4th trade we will be 120 pips away from the first trade and at 11% DD. From here i will be managing the trades manually. There is 20% more room for me to show my abilities to close the trades at Break even or book losses if necessary. It entirely depends on my decision. i will look to close the trade below 35% and will not exceed this DD limit at all. i will run the EA for closing the trades at 35% DD limit, so trades will be closed even if i am not watching the trades.
          4. EA will not trade extremely volatile pairs. For example if you see GBPAUD, has been moving about 600-800 pips in few days. The range is enormous. i have added a filter not to trade this kind of pairs till the volatility comes down. The reason i did is this because, when the trend changes we may not get any chance to close at Break even which is what happened with respect to GBPAUD.
          5. I will manually disable the EA during the high impact news and also try to avoid taking trades on Friday evening if we are not already in the market.

          System maintains the same type of trading and try to reduces the DD and more room for manual action. With this we should do well. My first aim is to go beyond our previous water mark high and i am confident of that.

          P.S : I may not trade GBP until 18th of this month.

          Ahhh, beautiful. That is why I keep coming back and continue to invest with you Vijay, because you take action.

          Your communication is second to none mate, cheers.

          Yeehaa, all excited about the signal again... Lets get ready to RUMBLE!

          Comment


          • Originally posted by SmartTrader View Post
            Peter, you should stop talking nonsense. This is not a pure grid system. i am not relying only on the grid to trade. Dont call that i do not have an edge. I wait for the right time to trade. My entry is based on so many factors. Why do i need to wait for days to take a trade when i just need to grid it out? Why do i need to keep chaning the currency pairs? why do i keep chaning the direction? why am i trading 10-15 currency pairs if do not have an edge. i can simply trade one currency pair if my system is ONLY ABOUT GRIDDING. right? Do you have any idea on how my system trades? whatever article you are talking about is correct, but not for me. i am not taking a trade and just gridding out to exit. i am taking the trade in the right direction, and its always the case, Yes my risk is high, because its high risk signal. Thats different story. And i did not say 25% DD. I have been saying 35% max DD, and you can ask any subscriber about this. Stay here and watch, see how i will come back. Then we will talk.
            Another Berman Quote .. in psychological terms self-deception is very much at the core of self-preservation.

            You say I'm talking nonsense, but in this life there is what you know. There is what you know, you don't know. And there is what you don't know, you don't know.. I'm giving you an opinion of years in this business, and have seen many guys come and go, even with an edge its a hard business. In retail you have a huge advantage in that customers are forgiving to a fault. Ignoring obvious warning signs to make a few dollars.

            My interest in this is not to flame you but maybe to make your or a potential follower think a little and possibly understand what they are seeing. I've been playing this game for quite a few years out side of the retail space. Knowing how to analyse a trader is all part of it.

            You say you wait for the right time to enter a trade - But have a system that will keep opening trades after price has moved 120 pips against the right time. So how at any stretch of the imagination is that the right time.

            You say your entries are based on many factors, but the accuracy of the trades are so low, that how can this be considered an edge?

            Exact details of your system or any gridding system are not known to me, basically they have no business in serious trading (Yes there are times when a punt system can be used, but getting your investment out is key). They only exist in retail to hide a lack of market understanding. This is a system that allows for a 35% loss on a account, and you have the ordasity to ask people to pay for that privilege. Your own confidence in the system is so low, you only willing to risk just over a thousand dollars according to your master account. So really you risking the membership fees of ten members.

            Looking at the comments above you have followers with a great belief in you, and by your answers you have the appropriate misguided confidence in what you do (again back to the Berman quote). Even though all your comments have deflected from the real issue of the loss, and that was you. The trade took 26 hours to go from a bad entry to a catastrophic loss, and unless you were on vacation you sat there and watched it go from an acceptable loss to a complete F-up. The EA chose your entries but you as the trader were the ultimate weak point, allowing it to go bust. So with the new changes, they will allow more time before failure, and give you more time to close. But if 26 hours was not enough, how long do you need? You have a timebomb system, managed by a timebomb EA manager, the mix of the two makes you a unreasonable risk to any investor.

            Comment


            • Originally posted by p3t3rjj View Post
              Another Berman Quote .. in psychological terms self-deception is very much at the core of self-preservation.

              You say I'm talking nonsense, but in this life there is what you know. There is what you know, you don't know. And there is what you don't know, you don't know.. I'm giving you an opinion of years in this business, and have seen many guys come and go, even with an edge its a hard business. In retail you have a huge advantage in that customers are forgiving to a fault. Ignoring obvious warning signs to make a few dollars.

              My interest in this is not to flame you but maybe to make your or a potential follower think a little and possibly understand what they are seeing. I've been playing this game for quite a few years out side of the retail space. Knowing how to analyse a trader is all part of it.

              You say you wait for the right time to enter a trade - But have a system that will keep opening trades after price has moved 120 pips against the right time. So how at any stretch of the imagination is that the right time.

              You say your entries are based on many factors, but the accuracy of the trades are so low, that how can this be considered an edge?

              Exact details of your system or any gridding system are not known to me, basically they have no business in serious trading (Yes there are times when a punt system can be used, but getting your investment out is key). They only exist in retail to hide a lack of market understanding. This is a system that allows for a 35% loss on a account, and you have the ordasity to ask people to pay for that privilege. Your own confidence in the system is so low, you only willing to risk just over a thousand dollars according to your master account. So really you risking the membership fees of ten members.

              Looking at the comments above you have followers with a great belief in you, and by your answers you have the appropriate misguided confidence in what you do (again back to the Berman quote). Even though all your comments have deflected from the real issue of the loss, and that was you. The trade took 26 hours to go from a bad entry to a catastrophic loss, and unless you were on vacation you sat there and watched it go from an acceptable loss to a complete F-up. The EA chose your entries but you as the trader were the ultimate weak point, allowing it to go bust. So with the new changes, they will allow more time before failure, and give you more time to close. But if 26 hours was not enough, how long do you need? You have a timebomb system, managed by a timebomb EA manager, the mix of the two makes you a unreasonable risk to any investor.
              Vijay - I know this kind of comment is very difficult to absorb. My advice would be to let it go and allow your trading to do the talking.

              When you're down people will kick you even harder, this is when the told-you-so's really come out. I've dealt with this from day. The worst thing you can do is take it personally and fire back.

              Peter - Some pretty harsh comments here, but when a trader screws up like this then this commentary is inevitable in my opinion. What would be VERY interesting is if you could help us learn from your apparent success and follow a bit of what you're doing with your own trading.
              Click here to check out the most popular forex channel on YouTube

              Comment


              • Nick my intent is not to come across sounding like an assh@le. I realize the comments seem harsh but they are honest. There is not point BS ourselves, Vijay felt I was talking nonsense. So I just simplified things further attempting to get a clearer point across.. Until Vijay can be honest enough with himself to clearly accept that this DD was not the market fault. If the system already had these proposed changes in place, the result would have been similar. Plain common sense tells us this. I know I have said this before, but watching it go bad for 26 hours, with the hope it might turn around. Is really something that needs to be realized, accepted and learnt from. So lets not deflect from where the issues was, nothing wrong with taking a loss in this business. We all do it, but accepting it and getting to the bottom of why this loss happened is key.

                As for an edge, I recommend anyone to open the chart and plot the actual trade levels, just use the most basic S/R knowledge, and ask yourself would I trade in this region.

                Like I said to Vijay before when he tried to call me out (this was the day before the incident), I'm not interested in having a pissing contest about trading. I'm here to learn some new tricks, give advise where I can and be social. Countless of my live trades have been posted with screenshots etc, price levels are sometimes posted hours before. And I encourage everyone to do that. Fantastic learning potential for all.

                Anyway I wont comment on Vijay EA again, I wish him and his investors all the luck. Clearly it does make money for a period of time, but in my opinion there far better options offered my this website... (but opinions are like assholes, we all have one. So please ignore take anything I have said with a pinch of salt.)

                Comment


                • R2D2 does make a valid point about the last trade, with the new parameters of opening trades, it would still of lost the full amount. So in this particular instance the trade logic was wrong. But I will turn down the risk again on this signal until I see the new parameters in motion. Good luck

                  Comment


                  • Originally posted by p3t3rjj View Post
                    Nick my intent is not to come across sounding like an assh@le. I realize the comments seem harsh but they are honest. There is not point BS ourselves, Vijay felt I was talking nonsense. So I just simplified things further attempting to get a clearer point across.. Until Vijay can be honest enough with himself to clearly accept that this DD was not the market fault. If the system already had these proposed changes in place, the result would have been similar. Plain common sense tells us this. I know I have said this before, but watching it go bad for 26 hours, with the hope it might turn around. Is really something that needs to be realized, accepted and learnt from. So lets not deflect from where the issues was, nothing wrong with taking a loss in this business. We all do it, but accepting it and getting to the bottom of why this loss happened is key.

                    As for an edge, I recommend anyone to open the chart and plot the actual trade levels, just use the most basic S/R knowledge, and ask yourself would I trade in this region.

                    Like I said to Vijay before when he tried to call me out (this was the day before the incident), I'm not interested in having a pissing contest about trading. I'm here to learn some new tricks, give advise where I can and be social. Countless of my live trades have been posted with screenshots etc, price levels are sometimes posted hours before. And I encourage everyone to do that. Fantastic learning potential for all.

                    Anyway I wont comment on Vijay EA again, I wish him and his investors all the luck. Clearly it does make money for a period of time, but in my opinion there far better options offered my this website... (but opinions are like assholes, we all have one. So please ignore take anything I have said with a pinch of salt.)
                    Peter, i said your comment was nonsense becz you said i dont have an edge and i am merely using Grid. But thats not the case. you cant comment on some system like that. Also your point about i have put only few thousad bucks in my master, that shows lack of confidence in my own system. That comment is ridiculous again. Its not the lack of confidence thats stopping me putting more money. I am trading more than 150k with smartscalper. And Nick had seen 100k account. All my subs and Nick know why i have only 1000+ bucks in my master. when you dont know the fact you cant criticize anyone like that. Come with valid criticism, i will learn few things from you. I am not saying i am a better trader than you or you are better than me. What you feel right may be wrong in others minds, so there will be people who will always find something. Anyways, my apologies if i behaved rude or anything. Anyone is free to comment about my sytem, that wont stop me doing whatever i am doing.
                    Last edited by SmartTrader; 09-15-2014, 11:55 AM.
                    Trade the market, not the trader

                    Comment


                    • I think it's fair to say that everyone is feeling a bit sensitive at the moment. While it may be true that since inception SS is still in profit, the reality for me (and I'm sure I'm not alone) is that I followed SS for a while with a test amount in my account, and slowly added to it as time went on and I could see the account increasing steadily. At the time of the loss, I had increased the deposits to the point where the total account size was pretty significant and the loss more than wiped out any profit made previously. It's a risk I took, and I bear responsibility for that, but we are all going to be a bit nervous for a while I am sure - to the point when the previous watermark high is reached and beyond for quite a while. Hopefully that time will come.

                      I'm in it for the long term, and am still optimistic. What gives me comfort is that Vijay is reachable and sets out his stall. He has his own money on the line (significant sums) and stands to gain much more if he can attract additional funds down the line, so he is going to be highly motivated. That's what keeps me in.

                      Comment


                      • From my research years go when I was looking at grid trading and of course some sort of martingale I believe it was not possible to improve the system by adding more trades grid like. First trade only was always best. Adding more just masked the underlying problems with entries for a while until the inevitable.

                        Comment


                        • Originally posted by Big River Man View Post
                          R2D2 does make a valid point about the last trade, with the new parameters of opening trades, it would still of lost the full amount. So in this particular instance the trade logic was wrong. But I will turn down the risk again on this signal until I see the new parameters in motion. Good luck
                          With the new parameters, i wouldnt even take the trade BRM. it will be filtered out.
                          Trade the market, not the trader

                          Comment


                          • Originally posted by emmanuel137 View Post
                            I think it's fair to say that everyone is feeling a bit sensitive at the moment. While it may be true that since inception SS is still in profit, the reality for me (and I'm sure I'm not alone) is that I followed SS for a while with a test amount in my account, and slowly added to it as time went on and I could see the account increasing steadily. At the time of the loss, I had increased the deposits to the point where the total account size was pretty significant and the loss more than wiped out any profit made previously. It's a risk I took, and I bear responsibility for that, but we are all going to be a bit nervous for a while I am sure
                            Not that's it's any comfort, but I am in exactly the same situation.

                            The thing that disturbs me going forward is that the specified drawdown limit (which I had assumed was around 20%, wrongly it seems) is now larger than I was expecting, the settings on the EA have been changed, so the results may change significantly (may be for the worse or better) and the position sizes reduced. This will lengthen the period of any recovery, even if I keep my risk settings the same.

                            Comment


                            • Originally posted by BillHuppert View Post
                              ...and the position sizes reduced. This will lengthen the period of any recovery, even if I keep my risk settings the same.
                              I would prefer this reduced risk setting exactly in you situation, Bill. Because starting again with the modified system I haven't seen a single trade yet and with the same risk as before ... that would make me sleep not very well.

                              Comment


                              • Originally posted by ralf View Post
                                I would prefer this reduced risk setting exactly in you situation,
                                I take your point. However, ST has said elsewhere that if you cut your risk now (after a drawdown) that it will jeopardise the account recovery.
                                It's down to the individual I suppose, damned if you do, and damned if you don't!

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