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  • #46

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    • #47

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      • #48
        Hi Prof,

        The EURAUD trades are burning the account away...is the team planning to do something about this ?

        Cheers

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        • #49
          I observed DD and problems with AUDUSD and AUDJPY but also disabled EURAUD as the DD extended to that pair also. That's an option you could consider until things settle down.




          Originally posted by SpiderX View Post
          Hi Prof,

          The EURAUD trades are burning the account away...is the team planning to do something about this ?

          Cheers

          Comment


          • #50

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            • #51
              Prof,

              Thank you for sharing this information and talking us through what you and the team are seeing on the AUD pairs. It is helpful to know that it is on the radar and what is going on at the ground floor.

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              • #52
                gspencer,

                i am glad that you appreciate my work. Part of offering a signal service is taking the needed time to answer questions of followers. I think there are not many worse things than a signal service that does not inform clients and investors. Thats why i try to add as much information as possible in my posts to answer all questions to your satisfaction. Actually its pretty much the same situation with a managed account as well, but it seems like many there are not many traders/providers that honour this need. I would rather cut new subscription and investors than making the support worse. But thats only my own opinion.


                Cheers,

                Prof

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                • #53
                  Now here come a few additions to the signal:
                  I have noticed that many people following the signal have problems to scale/compound and following when starting up. The max. drawdown cut off point of 35% is still remaining, but it is now based on the last (closed) balance high! So calculating your risk now requires you to look at the last balance high and eventually the balance drawdown. Additionally the system scales automatically, so with growing balance the absolute risk increases as well, because of the system scaling on the new balance high.
                  Just a quick calc example: Balance high was at about GBP1550. The drawdown with a current balance (GBP 1380) is then about [1-(1380/1550)]*100 = 11%. That is on par with the drawdown shown in myfxbook. That said, drawdowns in the ballpark of up to 15% are completely usual and common. They can happen several times a year, while drawdowns of 20% and above are a bit less common (was not hit too often in the past years).
                  Back to the scaling: The system scales with growing account balance, which means it switches its behavior of trading to be on par with the increased allowed absolute risk level. Please note that scaling is possible with constant position sizes as well. Just think about 1 lot on several currencies does not hold the same risk in terms of money per pip nor do they categorize in the same risk level on different market environments.
                  This drawdown measurement takes place immediately, so you might think about reconfiguration of your risk setting. There are still about GBP400/$600 absolute drawdown "left" per 0.01 lot.
                  Additionally i do not recommend to copy any open trades from the get go. Just attach the receiver EA and start following the system. You will only receive trades with a better entry and new ones, but this seems to be less stressful for followers and your account is still likely to be in sync within a few days or weeks.
                  Do i still think that it is a good entry? Yes, i do. Actually i thought more people would jump on board within this drawdown. So after these information, you might think about it again.

                  The signal description on Connectforex/Simpletrader will be updated shortly. Please excuse me for sending this message to your private mail, but it is a rather important information and i need to be sure you are all aware.


                  Kind regards and wish you a nice start in the week,

                  Prof.

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                  • #54
                    Originally posted by ProfBernardo View Post
                    Now here come a few additions to the signal:
                    I have noticed that many people following the signal have problems to scale/compound and following when starting up. The max. drawdown cut off point of 35% is still remaining, but it is now based on the last (closed) balance high! So calculating your risk now requires you to look at the last balance high and eventually the balance drawdown. Additionally the system scales automatically, so with growing balance the absolute risk increases as well, because of the system scaling on the new balance high.
                    Just a quick calc example: Balance high was at about GBP1550. The drawdown with a current balance (GBP 1380) is then about [1-(1380/1550)]*100 = 11%. That is on par with the drawdown shown in myfxbook. That said, drawdowns in the ballpark of up to 15% are completely usual and common. They can happen several times a year, while drawdowns of 20% and above are a bit less common (was not hit too often in the past years).
                    Back to the scaling: The system scales with growing account balance, which means it switches its behavior of trading to be on par with the increased allowed absolute risk level. Please note that scaling is possible with constant position sizes as well. Just think about 1 lot on several currencies does not hold the same risk in terms of money per pip nor do they categorize in the same risk level on different market environments.
                    This drawdown measurement takes place immediately, so you might think about reconfiguration of your risk setting. There are still about GBP400/$600 absolute drawdown "left" per 0.01 lot.
                    Additionally i do not recommend to copy any open trades from the get go. Just attach the receiver EA and start following the system. You will only receive trades with a better entry and new ones, but this seems to be less stressful for followers and your account is still likely to be in sync within a few days or weeks.
                    Do i still think that it is a good entry? Yes, i do. Actually i thought more people would jump on board within this drawdown. So after these information, you might think about it again.

                    The signal description on Connectforex/Simpletrader will be updated shortly. Please excuse me for sending this message to your private mail, but it is a rather important information and i need to be sure you are all aware.


                    Kind regards and wish you a nice start in the week,

                    Prof.
                    I'm not entirely clear on the DD cutoff. The master account is currently running at lower than the recommended risk since the balance has grown but the lot sizes have stayed the same. So 35% DD on the master would be more like 40+% on a follower account running at the recommended risk.

                    So is the cutoff at 35% on the master or 35% @ recommended risk?

                    Comment


                    • #55
                      I see the confusion. The system scales automatically with growing balance, looking at the last balance high. Thats now the basis for drawdown calculation. So the 35% DD cutoff is now based on the last account balance high and will be in the future as well. That makes it easier for subscribers to follow, because they can essentially keep the Lot Multiplier set to a specific value, while the System itself does the whole compounding and scaling stuff with growing account size.

                      Keep in mind, that scaling is even possible while the lot sizes remain the same. Thats possible due to different pip values of different currencies and more aggressive components being used. You see exactly that happening on the account. It is running more aggressive components, while still trading with the same position sizes. That will remain happening on the account until the balance grows enough to make the next step to 0.02 lots on all positions with a then less aggressive trading profile.

                      35% DD on the master can not be translated easily into a relative number on the follower account, because that depends on the followers account balance, currency, timing of joining the signal and obviously Lot Multiplier setting. But keep in mind, that the DD cutoff on the signal master is set to a 35% DD from recent balance highs. A small additional benefit of this scaling technique is that you can follow the drawdown levels shown on myfxbook, because they are now accurate (not completely accurate, but good enough). So current DD is at about 8%. That should give you a better idea of whats left on the table.
                      Because of the now used scaling, you might see an increased risk on your account. Thats why i sent a mail to all active and former subscribers to recalculate their risk and take action if needed. You can lower your risk quite good in the current situation by keeping the current good trades in big floating profits (mostly Yen-pairs), while reducing the Lot Multiplier which will then effect only newer trades.

                      Hope that answers your questions.


                      Cheers,

                      Prof.

                      Comment


                      • #56
                        Originally posted by ProfBernardo View Post
                        I see the confusion. The system scales automatically with growing balance, looking at the last balance high. Thats now the basis for drawdown calculation. So the 35% DD cutoff is now based on the last account balance high and will be in the future as well. That makes it easier for subscribers to follow, because they can essentially keep the Lot Multiplier set to a specific value, while the System itself does the whole compounding and scaling stuff with growing account size.

                        Keep in mind, that scaling is even possible while the lot sizes remain the same. Thats possible due to different pip values of different currencies and more aggressive components being used. You see exactly that happening on the account. It is running more aggressive components, while still trading with the same position sizes. That will remain happening on the account until the balance grows enough to make the next step to 0.02 lots on all positions with a then less aggressive trading profile.

                        35% DD on the master can not be translated easily into a relative number on the follower account, because that depends on the followers account balance, currency, timing of joining the signal and obviously Lot Multiplier setting. But keep in mind, that the DD cutoff on the signal master is set to a 35% DD from recent balance highs. A small additional benefit of this scaling technique is that you can follow the drawdown levels shown on myfxbook, because they are now accurate (not completely accurate, but good enough). So current DD is at about 8%. That should give you a better idea of whats left on the table.
                        Because of the now used scaling, you might see an increased risk on your account. Thats why i sent a mail to all active and former subscribers to recalculate their risk and take action if needed. You can lower your risk quite good in the current situation by keeping the current good trades in big floating profits (mostly Yen-pairs), while reducing the Lot Multiplier which will then effect only newer trades.

                        Hope that answers your questions.


                        Cheers,

                        Prof.
                        OK thanks. Previously when the master was using only 0.01 lots I was using a fixed lot size based on my balance. But if the master is now changing lots as the account grows I'll start using risk multiplier

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                        • #57
                          The signal is "Trading Privileges Not Verified" on myfxbook

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                          • #58
                            Originally posted by pearcey2 View Post
                            OK thanks. Previously when the master was using only 0.01 lots I was using a fixed lot size based on my balance. But if the master is now changing lots as the account grows I'll start using risk multiplier

                            Comment


                            • #59
                              Hi Prof, any comments on the signal's trading for the past 30 days or so? All things normal?

                              PS: I'm not bashing, I just want to hear some comments (if any). Thanks!

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                              • #60

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