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  • PracticalPips.com Signal

    Hi Traders!

    We're new to SimpleTrader/ConnectForex (only been with them for about a month now), but really enjoying being part of the community, previously only offering our signals to users directly on our site, and previous to that, trading professionally ourselves with our signals.

    Big shout out to Timo for encouraging us to start a thread here and engage with our audience - really appreciate the input Timo!

    Our signal can be found here: http://www.connectforex.com/signal/1...lPips.com.html for anyone interested.

    We will try to post updates and answer as many questions as we can here on this thread.

    Happy trading!

    Evan

  • #2
    Hey Evan,

    Welcome to the community

    I've been chatting with Evan for a few weeks and he's been extremely helpful and forthcoming about his signal and trading.

    As he mentioned, It's a relatively new signal, but I've been impressed with what I've seen. I signed up over the weekend, and been running for just a day now, so no trades yet.

    I look forward to seeing you guys trade over the next few weeks. And please feel free to post as many updates as you can here in the forums!

    Cheers,

    Timo

    Comment


    • #3
      I'm a subscriber to practicalpips.com and can say I'm very impressed with their trading. Very cautious but profitable.

      There is an mt4i account link but hopefully they add a myfxbook link as well

      Sent from my Nexus 5 using Tapatalk

      Comment


      • #4
        Thank you Timo, appreciate the kind words! Looking forward to the end of announcement week to get stuck into the markets properly again.

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        • #5
          Thank you pearcey2! We like to bag profits early and hate a loss. MT4i pulls nicely, but we're not getting the MyFXBook link working unfortunately - will keep working on it but looks like the best plan is going to be building out a second signal on a new account and transition to that. Will keep everyone updated.

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          • #6
            Expect a slow week - would like ECB and NFPs out of the way

            Just a quick update - we're waiting for NFPs, ECB decision and a slew of other high impact announcements this week to be over before entering new trades that we aren't totally confident in. Slower week expected, but once the news is over, we're hopefully down to some serious trading.

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            • #7
              I saw mt4i link, Do you have Myfxbook link?

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              • #8
                Originally posted by imwrong View Post
                I saw mt4i link, Do you have Myfxbook link?
                Hi imwrong, MT4i pulls data properly from our live account, but we're not getting the MyFXBook link working unfortunately - will keep working on it but looks like the best plan is going to be building out a second signal on a new account and transition to that at a future point. We're actually doing some work with the guys at MT4i at the moment and may decide to stick with their product exclusively.

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                • #9
                  Does anyone know what risk multiplier I should use? Their master account is ZAR so I should use 10x to duplicate the same level of risk?

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                  • #10
                    10x is 1:1 risk

                    Sent from my Nexus 5 using Tapatalk

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                    • #11
                      Or if you wanted to run fixed lots, Evan advised we should use 0.02 per 1000 USD for 1:1 risk

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                      • #12
                        Issues with gold and silver lot sizes/scaling

                        Dear traders,
                        We are aware that some of you have had issues with the recent gold and silver trades we entered into, with regards to lot sizes and scaling. It appears as if subscribers who used fixed lot sizes in particular were put into a position where the trade sizes were a larger than they should have been (somewhere in the region of 40% more than the normal risk we would be comfortable with). We do apologise profusely for this issue - we are still trying to get to the bottom of it with our brokers and the team at ConnectForex to understand what caused the issue and to make sure that it doesn't happen again.

                        In the interim, we will not be trading any gold or silver pairs. Unfortunately, sometimes these losses do happen, but we're confident that we will maintain our historical win/loss rate and look forward to some solid trading for the rest of the month.
                        Thank you,
                        Evan

                        Comment


                        • #13
                          A drawdown. What happened?

                          Our GBPCHF trade closed when it hit its stop loss yesterday. Right off the back of two losing trades of gold and silver respectively. Depending on your timing, thats either 3 losers in a row (or 4 if you include the USDSGD trade.) Have we changed how we trade? Are a row of losses like this normal? What's going on?

                          As with any forex strategy, you'll have winners, and you'll have losers. Our win/loss ratio over time stands at 70%. This means you can lose 3 -4 trades in a row. You could lose 3-4 trades out of 10, and then win the next 6. Its also possible to lose 30 trades in a row and then win the next 70! This is extremely unlikely - the probabilities of this happening are mind-bogglingly slim - but it is a possibility. This is true with any trading system. So, what changed on our end? Are we taking "bad" trades all of a sudden? Have we changed our methodology of trading? No, and no. Of course we take time to break apart each trade, winners and losers alike, but we know from experience that these things happen. A draw down every few months is certainly a possibility. Correct position sizes - risk and money management are what profitable traders rely on. So we may well end June down or flat on the month - a very rare occasion indeed for us, but not something thats going to change our long-term performance.

                          Comment


                          • #14
                            Nice start to the month Evan!

                            You're well on the way to a recovery

                            I especially liked how you closed out both positions prior to the news, and didn't expose us to unnecessary slippage during that mad news spike.

                            Comment


                            • #15
                              Originally posted by timo View Post
                              Nice start to the month Evan!

                              You're well on the way to a recovery

                              I especially liked how you closed out both positions prior to the news, and didn't expose us to unnecessary slippage during that mad news spike.
                              Thanks Timo!
                              Both pairs have been interesting to watch (if you're geeky like us) post NFP announcement. The GBPUSD has been on such a strong run, it quickly recovered and seems to be continuing its trend upwards. The EURUSD seems to be battling as it has been. Interesting once to watch, but today will be low volume all round given the July 4th celebrations in the US so we don't expect much to happen either way. No trades for us when our American friends aren't in for the day! Have a good weekend all.

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