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SiamFX "Redemption" Question For Nick

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  • PM
    replied
    A true Master in manipulating the truth

    Leave a comment:


  • imwrong
    replied
    He is an expert in blowing

    Leave a comment:


  • VictorTous
    replied
    CONGRATULATIONS! After blowing another account again, your myfxbook "user" SiamFXNET doesn't exist anymore... Where's all that verbiage now? You're just one BIG-MOUTHED charlatan, a COMPLETE JOKE who should be ashamed of himself... http://www.myfxbook.com/members/SiamFXNET


    Originally posted by siamfx View Post
    [ATTACH=CONFIG]919[/ATTACH]

    Drawdown Explanation

    Myfxbook calculates the drawdown as following ( Account Balance - Equity / AccountBalance = Percentage of drawdown in Account). For example, 10000 Balance - 9000 Equity = $1000 drawdown / 10000AccountBalance = 0.10 = 10% Drawdown. It's straight forward and accurate to measure open drawdown. My account experienced a 65% DD based on this figure, however I look at drawdown percentages differently.

    I base my drawdown solely on equity to give me an accurate gauge of my drawdown situation instead of using the account balance. I do this because my account balance is always growing from activity trading ( my recovery strategy, Manual Scalping). This added trading activity pushes my account balance higher, while the equity may stay stay flat, go down or slightly go up. As a trader, our lifeline is our Equity because if you close all open positions, you will always end up at the Equity Level, thus this proves that Account Balance has no relevance to the actual account. The next life line for a trader is the Free Margin, and this will vary from broker to broker because of the different proposed Leverage that the broker offers. FreeMargin and the Equity of your account are the only indicators to display the Health of your account. Account Balance doesn't matter until you have zero open positions.

    When I start trading, I look at the equity level of the previous month and base my drawdown percentages based on this amount. Why? Some traders bank a few pips during the day and use these pips as a cushion for further trades that day, this allows them to risk more ( increasing the stoploss if they choose, or increase their position size, etc because they have banked profit and use this as a cushion.). I do the same but use the previous months profits as my cushion.

    In the image above, I started My cushion Level based on October 1st, 2014 ( Blue Line) and base my drawdown percentages off this because a month is a relatively small amount of time when you look at the annual return on investment(AROI). I'm willing to risk more if the previous month was profitable ( I'm willing to give this back essentially) and less concerned about drawdown percentages. If my Account Equity was at 80k in October, and now it is at 45k I'm looking at my account as if I have a 43% drawdown and not what it recorded on Myfxbook because I don't consider the account balance as being relevant. Therefore, Myfxbook will always record a higher DD% than what really matters.

    Please remember this only applies to my system because my account balance is always growing. Not many systems can do this, just for example Caesar and dayfox (both systems that use Averaging) don't increase the Account Balance during cycles of drawdown because the whole basket of trades are normally held open until closed at a profit, breakeven, or lose.

    In the image above, the Red Box displays how much my account balance has grown since High Water Mark Equity (Black Line) The blue box is the Equity Drawdown from the previous months Equity(Blue Line). The Blue line and blue box are what I focus on during trading. I don't focus on the recorded myfxbook drawdown percentages.

    Currently, as of November 12, 2014 , SiamFX Aggressive are at a new High Water Mark Equity. This means the algos are on, and I'm off!
    My manual trading recovered the drawdown and I'll be working on algo development tomorrow.
    Best luck to your investment decisions.

    Leave a comment:


  • sanriopurin
    replied
    What's your plan now, Primary Trader?

    I'm not saying "I told you so" but earlier I asked "could you dial down the risk on your end", precisely because of what has happened recently. It's no use dialling down the risk on OUR end if the outcome is going to be bust. 0.10 x bust = bust.

    However, if you could only dial down the risk on your end to prevent bust, then maybe there's something to consider...

    PS: I don't mean to allude your account will bust soon. Just trying to make my point.

    Leave a comment:


  • sanriopurin
    replied
    It's nice to know you gave some thoughts with regards to slippage etc.

    Could you kindly update me/us with regards to your 2015 max balance cap decision, as soon as you've made the decision, thanks!

    Leave a comment:


  • siamfx
    replied
    When larger lotsizes are used by the followers, it increases slippage for everyone. I don't want followers to experience problems with slippage because most traders here use the same retail brokers. By putting a capital restriction in respect to the lotsize being traded, I can control this issue.

    I can't put a cap on the Max lotsize as a solution because of my manual scalping and if hedging if needed. Therefore capping the Risk Capital was a viable solution to handle this issue.

    Leave a comment:


  • sanriopurin
    replied
    I don't see how SimpleTrader backend has to do with this? If your trading strategy calls for $5,000 per 0.01, then it's just simple math as per your earlier explanation, isn't it?

    Yes leaving the cap at $100,000 would be beneficial, to you too. Not to rub salt into your wound, you've left many people pissed off and disappointed. Those who are willing to give you a second chance (me inclusive) would only do so at reduced risk (at first, at the very least).

    With all due respect I still think your trading is super high risk. But I'm willing to "gamble" 0.10 of my account that it has a chance of recouping that 0.10 investment in a matter of months. Once I pull out all of 0.10 profits (and subscription fees), I can rest easy.

    Leave a comment:


  • siamfx
    replied
    I would like to allow up to $500,000 if the follower is running 0.1 RM because that would equal the same lotsize as a follower using $50,000 running 1.0 RM.
    I'll talk to Nick to see what can be adjusted in the backend of SimpleTrader TradeCopier.
    If there isn't a solution, I'll leave the cap at $100,000 to allow followers plenty of room to use 0.1RM.

    Leave a comment:


  • sanriopurin
    replied
    Originally posted by siamfx View Post
    Minimum Investment Explained
    Risk Multiplier of 1.0 requires $5,000
    Risk Multiplier of 0.5 requires $10,000
    Risk Multiplier of 0.25 requires $20,000
    Risk Multiplier of 0.10 requires $50,000
    Thanks for the response.

    May I seek further clarification on the planned change to $50,000 maximum (??) balance in 2015? If I understand correctly, there's a cap now at $100,000 which will be halved to $50,000 in 2015.

    Does that mean, since I'm planning to run this (if I join) at 0.10 risk, I won't be able to do so from 2015 onwards since the minimum balance required is right smack at $50,000?

    Leave a comment:


  • siamfx
    replied
    Please read through these questions - http://siamfx.net/faq/ -
    If anything doesn't make sense to you please tell me and I'll explain the information with more detail. Thank you

    Leave a comment:


  • siamfx
    replied
    Yes you are correct.

    100,000 it is divided by $5000 ( min investment ) to produce the minimum lot size for the master = 0.20 lot , You would get a 0.01 lot on the $5000 with Risk Multiplier 1.0

    If the Equity drops below 100000. the minimum lot is still 0.20 lot on the Master to ensure followers get the same Risk Per Trade through the duration.

    If the Risk Multiplier is capped at 0.5 then you are correct, it would require the minimum investment of $10,000


    Minimum Investment Explained
    Risk Multiplier of 1.0 requires $5,000
    Risk Multiplier of 0.5 requires $10,000
    Risk Multiplier of 0.25 requires $20,000
    Risk Multiplier of 0.10 requires $50,000
    Last edited by siamfx; 11-17-2014, 05:53 AM.

    Leave a comment:


  • sanriopurin
    replied
    Hi SiamFX, capping at 0.5 for your future subscribers is a good idea. Although, you must calculate the minimum amount of capital required.

    For example, this is just on top of my head (without checking): let's say currently your account balance is USD 110,000 and minimum lot is 0.10. Capping your risk by half essentially requires your subscriber's balance to have a minimum balance of 110,000 divide by 10 (to get 0.01) times 2 (because risk is halved) = USD 22,000

    Correct?

    Leave a comment:


  • siamfx
    replied
    A comment from the DayFox thread caught my eye (" Nick, you should make sure that no team trader goes over 30%DD or something like that. This would be a very basic protection to your clients.").

    Each Follower has the ability to set a Max Drawdown limit within the TradeCopier on their own account that disables the signal completely. On the other hand, maybe there should be a Max Risk Multiplier to prevent traders from using above a certain level because it seams followers fail to make this decision on their own. For example, my signal should be capped at 0.5 Risk Multiplier to ensure no customer experiences beyond 30%, based on my historical 60% dd. What do you think?

    Leave a comment:


  • siamfx
    replied
    SiamFX_Explains_Drawdown.jpg

    Drawdown Explanation

    Myfxbook calculates the drawdown as following ( Account Balance - Equity / AccountBalance = Percentage of drawdown in Account). For example, 10000 Balance - 9000 Equity = $1000 drawdown / 10000AccountBalance = 0.10 = 10% Drawdown. It's straight forward and accurate to measure open drawdown. My account experienced a 65% DD based on this figure, however I look at drawdown percentages differently.

    I base my drawdown solely on equity to give me an accurate gauge of my drawdown situation instead of using the account balance. I do this because my account balance is always growing from activity trading ( my recovery strategy, Manual Scalping). This added trading activity pushes my account balance higher, while the equity may stay stay flat, go down or slightly go up. As a trader, our lifeline is our Equity because if you close all open positions, you will always end up at the Equity Level, thus this proves that Account Balance has no relevance to the actual account. The next life line for a trader is the Free Margin, and this will vary from broker to broker because of the different proposed Leverage that the broker offers. FreeMargin and the Equity of your account are the only indicators to display the Health of your account. Account Balance doesn't matter until you have zero open positions.

    When I start trading, I look at the equity level of the previous month and base my drawdown percentages based on this amount. Why? Some traders bank a few pips during the day and use these pips as a cushion for further trades that day, this allows them to risk more ( increasing the stoploss if they choose, or increase their position size, etc because they have banked profit and use this as a cushion.). I do the same but use the previous months profits as my cushion.

    In the image above, I started My cushion Level based on October 1st, 2014 ( Blue Line) and base my drawdown percentages off this because a month is a relatively small amount of time when you look at the annual return on investment(AROI). I'm willing to risk more if the previous month was profitable ( I'm willing to give this back essentially) and less concerned about drawdown percentages. If my Account Equity was at 80k in October, and now it is at 45k I'm looking at my account as if I have a 43% drawdown and not what it recorded on Myfxbook because I don't consider the account balance as being relevant. Therefore, Myfxbook will always record a higher DD% than what really matters.

    Please remember this only applies to my system because my account balance is always growing. Not many systems can do this, just for example Caesar and dayfox (both systems that use Averaging) don't increase the Account Balance during cycles of drawdown because the whole basket of trades are normally held open until closed at a profit, breakeven, or lose.

    In the image above, the Red Box displays how much my account balance has grown since High Water Mark Equity (Black Line) The blue box is the Equity Drawdown from the previous months Equity(Blue Line). The Blue line and blue box are what I focus on during trading. I don't focus on the recorded myfxbook drawdown percentages.

    Currently, as of November 12, 2014 , SiamFX Aggressive are at a new High Water Mark Equity. This means the algos are on, and I'm off!
    My manual trading recovered the drawdown and I'll be working on algo development tomorrow.
    Best luck to your investment decisions.
    Last edited by siamfx; 11-13-2014, 02:43 PM.

    Leave a comment:


  • sanriopurin
    replied
    Thank you for taking the time to respond to my comments/questions.

    I've decided to still stay by the sidelines, but good luck to you nonetheless!

    Leave a comment:

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