Originally posted by Anton123
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Hello Vijay,
As Scalper takes it's entries on rules not designed for moves seen in GBPAUD today, seasoned followers know that this might lead to DD in special market situations.
As special market situations are somewhat unpredictable everyone of us is "hardened" in one way or the other to weather it out.
For new followers it might be a totally different experience as they don't expect and embrace this as part of trading Forex.
Therefore I would like to suggest to not only disable the pairs that are more vulnerable to high risk events but to not let Scalper take trades on events like elections, referendums and NFP at all.
Out of my perspective it might reduce overall performance of the signal but would give more peace of mind to some followers also.
Of course one thing to ask would be if the followers would agree on taking a disadvantage in performance while reducing the risk on the more predictable high volatility moments of the markets.
Keep up the good work and kind regards
ESG
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Originally posted by ESG View PostHello Vijay,
As Scalper takes it's entries on rules not designed for moves seen in GBPAUD today, seasoned followers know that this might lead to DD in special market situations.
As special market situations are somewhat unpredictable everyone of us is "hardened" in one way or the other to weather it out.
For new followers it might be a totally different experience as they don't expect and embrace this as part of trading Forex.
Therefore I would like to suggest to not only disable the pairs that are more vulnerable to high risk events but to not let Scalper take trades on events like elections, referendums and NFP at all.
Out of my perspective it might reduce overall performance of the signal but would give more peace of mind to some followers also.
Of course one thing to ask would be if the followers would agree on taking a disadvantage in performance while reducing the risk on the more predictable high volatility moments of the markets.
Keep up the good work and kind regards
ESG
Anyway Vijay has done really well but hopefully like you say this can be looked into. Shane for so much of his hardworking to go down in just 1 hour.
Even if it was turned on 15m after the event we'd all have made good pips. Something to think upon.
Good luck Vijay to steer the ship mate. Appreciate all your work.
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Originally posted by Big River Man View PostEven if it was turned on 15m after the event we'd all have made good pips. Something to think upon.Last edited by BMM; 11-06-2015, 11:59 PM.
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Hi Big River Man,
Being in for the ride for some time I'm quite sure that if you try to reduce the risk in a system that's proven to be profitable you may end up with a zero sum game or even spiral down in losses.
Nevertheless everyone should be aware of black swan/monday events that we had this year already.
We're all exposed to not only kill our trading accounts by MC but to face a situation that we might owe much more to the broker that we thought of was possible if we are caught in a market condition that will not respect our set SL.
What's the point for me is that all of us are responsible to view the market closely and act at the time we decide what's the "right" thing to do for ourselves.
A signal provider knows that his system might fail in certain market conditions and it's his knowledge that should enable him to protect his followers to a certain degree.
I trust the signal providers that I follow with my accounts 100%. BUT to speak with the words of Metallica. Do you trust who I trust: Me, Myself and I.
Hail to Vijay,
ESG
Originally posted by Big River Man View PostESG, one would argue that not trading the special events you talk of would actually increase the performance. Vijay said he'd disabled other pairs. But yes as you mention these larger events we don't need to be in them. I would say regularly NFP would be fine but the last 3 of this year I would classify as big events. Sometimes not having a position, is the best position.
Anyway Vijay has done really well but hopefully like you say this can be looked into. Shane for so much of his hardworking to go down in just 1 hour.
Even if it was turned on 15m after the event we'd all have made good pips. Something to think upon.
Good luck Vijay to steer the ship mate. Appreciate all your work.Last edited by ESG; 11-07-2015, 12:21 AM.
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Guys, just read the panic from yesterday>> old subs are freaking out and what to say about those that just joined. Whats the point of everybody saing same thing over and over? Im on same boat and agree with most said but lets just relax we all know the risks and vijey got this covered.
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It depends on WHICH price (ask or bid) they are showing. AxiTrader shows 2.1343-2.1364. It's too early to speak about the possible weekend gap. Check www.fxstreet.com tomorrow: they provide quotes during the weekend and give the idea of the gap expected.
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Originally posted by SmartTrader View PostHey Guys, we have around 4.5% DD after closing one in loss. I ll try to exit at BE with the current basket or book some profit tutti reduce the overall loss.
Expecting some favorable moves on Monday
Sent from my PE-TL10 using Tapatalk
I have full confidence that you can get us out with minimal loss overall or break even currently as you say.
We have seen similar situations before and being a long time follower (from before the SNB removed the CHF peg), I believe you have this under control.
Guys, don't panic, Vijay is a skilled trader. He can keep his head cold even during hard times such as this
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Here are some interesting results I got when analyzing Smart Scalper's trades. I was interested to know how often it is wrong on entering the first trade of a basket. So,
6.11 GBPAUD - 4 trades in the basket
2.11 GBPAUD - 3 trades
30.10 GBPAUD - 2 trades
20.10 EURNZD - 1 trade
20.10 EURNZD - 1 trade
16-19.10 EURNZD - 3 trades
16.10 EURNZD - 1 trade
14.10 GBPNZD - 1 trade
14.10 GBPNZD - 1 trade
13.10 GBPAUD - 1 trade
13.10 GBPAUD - 1 trade
12.10 GBPNZD - 1 trade
8.10 EURNZD - 1 trade
8.10 EURNZD - 1 trade
8.10 EURNZD - 1 trade
7.10 GBPNZD - 1 trade
7.10 GBPNZD - 1 trade
6.10 GBPNZD - 1 trade
2.10 GBPNZD - 3 trades
What does this mean, is:
- Vijay is mostly right with his first entry;
- If he's wrong, and opens a 2nd trade, you can almost certainly enter against Vijay In only one case, the basket was done with 2 trades (and you would lose your counter-trade). In 4 other cases, you would win your counter-trade (moving from Vijay's 2nd to 3rd entry), and therefore reduce your loss (or even win overall, if Vijay ends in breakeven).
Basically, two things:
- Vijay's mostly right;
- When he's wrong, he's wrong for good
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Originally posted by Anton123 View PostHere are some interesting results I got when analyzing Smart Scalper's trades. I was interested to know how often it is wrong on entering the first trade of a basket. So,
6.11 GBPAUD - 4 trades in the basket
2.11 GBPAUD - 3 trades
30.10 GBPAUD - 2 trades
20.10 EURNZD - 1 trade
20.10 EURNZD - 1 trade
16-19.10 EURNZD - 3 trades
16.10 EURNZD - 1 trade
14.10 GBPNZD - 1 trade
14.10 GBPNZD - 1 trade
13.10 GBPAUD - 1 trade
13.10 GBPAUD - 1 trade
12.10 GBPNZD - 1 trade
8.10 EURNZD - 1 trade
8.10 EURNZD - 1 trade
8.10 EURNZD - 1 trade
7.10 GBPNZD - 1 trade
7.10 GBPNZD - 1 trade
6.10 GBPNZD - 1 trade
2.10 GBPNZD - 3 trades
What does this mean, is:
- Vijay is mostly right with his first entry;
- If he's wrong, and opens a 2nd trade, you can almost certainly enter against Vijay In only one case, the basket was done with 2 trades (and you would lose your counter-trade). In 4 other cases, you would win your counter-trade (moving from Vijay's 2nd to 3rd entry), and therefore reduce your loss (or even win overall, if Vijay ends in breakeven).
Basically, two things:
- Vijay's mostly right;
- When he's wrong, he's wrong for good
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