Safe- Trade Basics

[madaneeraj]

it seems this provider needs some more time to optimize his skills.. best will be to wait 6 month more to have a clearer view.

wish you good luck for the future

Thanks Heinzthebird for the feedback and surely everyone needs to learn and optimize

Lately there have been many occassions where PA hit my SL and went onto hit the target. These instances do hamper one's confidence and I am no exception. I have been closing trades early or pulling the SL up lately and that seems to be not working.

But despite that its been 4 months straight in pofit and for this month also we are down <1%. I am sure that we will return in green for March also and will continue and build in the coming month.

Once again, I thank you for your feedback.

[thekhoos]

i think im more concern with your eu trades last week and I think you took much risk on that few eu trades

[Big River Man]

We should let the trader trade. Stick to what you doing when you did well, if you change you style because of subscribers then it never works. If you make money, you happy, we happy. Have confidence in your own trading.

[thekhoos]

big river, you should see the past few eu trades esp on friday! Double lot size? Too risky

[heinzthebird]

is there anything happen?? no new trades?

[Big River Man]

Yes it's true we have gone sideways, I have not made any money in the month that I have signed up to this signal, but I hope that we can be positive this month by the end. We should judge the signal after 3 months minimum.

[Big River Man]

Last 2 trades UJ and AN worked out well. Just wondering why the signal isn't available for sign up anymore? Are you still being proactive with the signal?

[madaneeraj]

Last 2 trades UJ and AN worked out well. Just wondering why the signal isn't available for sign up anymore? Are you still being proactive with the signal?

Hi Big- Yes I have closed the subscription for new subscribers- Frankly it has reduced a lot of pressure and I am now beginning to trade more freely.

I am still very cautious with trades and still to touch the Jan peak (hopefully will get it in few trading sessions).

Thanks for all your support and encouragement.

[Big River Man]

Ok no problem, keep it up. Have been doing better recently.

[Big River Man]

Are you still trading???

[madaneeraj]

Are you still trading???

Yes! I am still trading! had to stop for few months mainly because of-

- Trading as signal provider is different from doing it for yourself, there is added pressure and yes it impacts decision making.
- There were many strategies that I was following. Long term, Medium term, Short term. It was free flow and decision making was good as long as I was trading for myself only. Things changed as I started trading publicly, every decision was made trying to impress people. You know, I know there are subscribers who join and leave you on the basis of 1 trade.

Well what has changed now? I have never doubted my understanding of charts. On a 10 months trade history (inclusive of 3.5 months of non action I am still averaging 4-5% with single digit Equity DD and Capital DD of less than 5% and Gain of 50%) It's only that as a signal provider I had to improve-

- Make it more rule based- Only filter the trade selection on- Market Volatility, How far market has moved already?, Strong Support/Resistance

-Limit the strategies, it makes you more predictable for your subscribers. Eases off pressure as everyone knows what you are up to
-

Lately I had issues with tight stops, I needed to fine tune my strategy as per below-

Risk per trade 0.5%-2%, depends upon number of open positions
Max Open Draw Down 2-3% (Equity Draw Down)
Max Open positions- 4-5
Trades per week- 2-15
Trading days- Tue, Wed & Thur, Fridays (NFP days, after news)

Monthly expectations- 4-5%

Trend following entries with visible SL (20+ Pips) and TP.(Risk:Reward min 1:1.5 )

The strategy was already having 60-70% success, just that I have defined SL and TP targets.There will always be visible SL and TP for the trades.

https://www.myfxbook.com/portfolio/safe/1013017

Request you all to monitor the performance for few months. I will be giving some on demand complimentary access to my old subscribers from Nov 2014 onwards.

Regards,

[p3t3rjj]

madaneeraj
I would check your SL of 20 quoted below. From checking your MAE/MFE. Some trades of your have gone - 573pips against, that overshot your stop loss of 20 by 553pips.
So in real terms as an example, according to your myfxbook..
-$573.70 DD on account, closed for $6
-$546.40 DD on account closed $4.70
-$222.20 DD on account closed $0.50
You can check your myfxbook for more, but the point being your floating DD is beyond 50% on some trade.
Do edit above and put the accurate stats of your max open DD to 50%, your max SL to no limit, and just delete the risk reward comment.
In your last ten trades you have over shot your new 20pip SL by up to 40pips, so if the above comments are accurate. I guess that's the new strategy from monday.

[madaneeraj]

madaneeraj
I would check your SL of 20 quoted below. From checking your MAE/MFE. Some trades of your have gone - 573pips against, that overshot your stop loss of 20 by 553pips.
So in real terms as an example, according to your myfxbook..
-$573.70 DD on account, closed for $6
-$546.40 DD on account closed $4.70
-$222.20 DD on account closed $0.50
You can check your myfxbook for more, but the point being your floating DD is beyond 50% on some trade.
Do edit above and put the accurate stats of your max open DD to 50%, your max SL to no limit, and just delete the risk reward comment.
In your last ten trades you have over shot your new 20pip SL by up to 40pips, so if the above comments are accurate. I guess that's the new strategy from monday.

Thanks P3t3rjj- I do appreciate your knowledge of Stats and I would love to posses that kind of knowledge some day. Also I do understand your concerns and you are right about that up to Pip. I think only correction I would like to make is with $ value, it was a 0.01 lot so equity DD was 5% for that. In addition I have closed that trade at +60 pips with around 12$ in interest. Otherwise I congratulate you on the in-depth analysis and interest you shown in the system.

Myfxbook shows equity DD pretty accurately and I assure you with 0.01 & 0.02 size lots to hit 50% you require a pip movement of 5000 which didn't happened in GBPAUD and GBPUSD in that period, below are trades for your reference with open time and closed time. I am not afraid to admit that these are the real black spots on my otherwise good trading history and I regret not putting a cap on these.


04.15.2014 10:56 08.28.2014 12:47 GBPAUD Sell 0.01 - 1.74580 1.77779 1.77135 64.4 18.90 135d 1.87%

04.08.2014 09:51 08.20.2014 22:39 GBPUSD Sell 0.02 - 1.65000 1.66232 1.65997 23.5 0.77 134d 0.08


Also if you read again I have written I was trading long term, medium term and short term with gain of over 12% PM when I joined forex signals. If you look at the analysis there were all types of trades. What I meant was I will limit myself to one strategy with 4-5% of returns every month. Of course I don't ask you take my word on it and I have to go long way to prove it.

In the end Equity DD on MyFxbook is correct. Also below are the investor password and user details of my account. You can yourself go and check the capital DD-

Excel Market- NZ Server
Account- 2088144651
Password- simple!@#

I once again thanks you for your positive criticism and do admit i have to go long way to with the trust of subscribers.

Regards,

[p3t3rjj]

Nice story, but you miss the point. You've given clear details of your trading risk profile, and this sparked my interest because on the most part that's the kind of risk profile I like. But your myfxbook trade history contradicts everything you say.. So if the above is how you plan on trading in the future, that's great and Ill have a look again in a few months.

MAE/MFE on myfx can be flipped between dollar value/pips/etc. So its quite clear, finding this information took two mouse clicks. It wont take you long to posses this kind of knowledge, just be accurate with your information in the posts.

[madaneeraj]

Nice story, but you miss the point. You've given clear details of your trading risk profile, and this sparked my interest because on the most part that's the kind of risk profile I like. But your myfxbook trade history contradicts everything you say.. So if the above is how you plan on trading in the future, that's great and Ill have a look again in a few months.

MAE/MFE on myfx can be flipped between dollar value/pips/etc. So its quite clear, finding this information took two mouse clicks. It wont take you long to posses this kind of knowledge, just be accurate with your information in the posts.

Yes I have given clear details of my risk profile and nothing is hidden in myfxbook as I don't intend to mislead anyone. I am confident about my abilities as a trader, not as in I am a greatest around or even equivalent to others but only because I know my limits and risks. Anyways I have given accurate details and which are verified as per myfxbook.

Trade sizes were .01 & 0.02 Lots which implies 1 pip = 0.01$ (approx.), in addition and you can see the market how much it has moved between periods. If you wish you can download the trade history with investor password I gave. There is nothing to hide here and I don't intend to mislead you or any other person on this forum.

Also request you to acknowledge that it was not $573 and $546 as this would have blown my account, an account size of $900 cannot have $1100 as DD.

I once again appreciate your genuine interest and regret that I am nowhere near as you expected. Hopefully will do better in future. Thanks again for feedback.