Announcement

Collapse
No announcement yet.

Smart Squared!

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • hking
    replied
    Originally posted by SmartTrader View Post
    Hey Guys,

    We have been at the maximum Drawdown on smart2. I have been reading each and every forum post. Some posts are about gaps between trades and some about not trading GBP or JPY at all. I thought i would post once there is some semblance in the account or may be some danger that i have to communicate. I have only communicated that i am managing the trades closely and not more than that because i did not want to engage in discussion and want to be with open mind. That will help in my trading.

    If you seen my trades are in accordance with the trend. GBPJPY has been declining for more than a month. Fundamentally GBP is down. There was another occasion recently GBPJPY has gone up 650 pips and continued its downtrend. I am expecting a similar thing. Ofcourse if it goes against us completely, i ll book losses in phases. You have seen me take losses. It will not go beyond 25%. i will stick to the rules.

    I have couple of things that i consider that require changes in the system. They are small but very effective. It will only reduce the DD and give me more room to manually manage the trades.

    I will do my best to exit at break even or at small losses.
    Hi Vijay,

    Glad you are making some changes.

    However, can you please be more specific what are the changes so we can evaluate?

    As mentioned, it is a bad idea to have 1 mistake make you lose 25% no matter what when you generally win 90%+ of the time.
    Everybody makes mistakes but we don't want 1 mistake to kill our risk appetite.

    Thanks!

    Regards.

    Leave a comment:


  • Okda
    replied
    A new fxzero?

    Sent from my Nexus 6 using Tapatalk

    Leave a comment:


  • Vidster
    replied
    257 pips on one trade Nick. Altogether was how much?
    I just wanted to point out that losing 25% on one trade idea is not that great really. Max loss on a single trade idea should be smaller. Anyway, best of luck to Vijay and all investors! Hopefully all is fine at the end and we make s lot of money in a ling run

    Leave a comment:


  • Nick
    replied
    Originally posted by Vidster View Post
    I understand breakeven exit would ease off a lot of pain to subscribers/investors. However, I disagree with this kind of view. I am not subscriber yet so I can say what i mean honestly without being biased by pain or excitement.

    Holding trades in 17% loss and just waiting if they hit 25% dd without doing anything is risk. That's about 1000+ pips out of the money. On the other side trader is happy by getting 40 pips on a good trade. Something doesn't align well.
    The first thing I suggest is to hold on for dear life on these current trades. If gbpjpy continues falling with major trend (as it was the initial idea when entering this trade) it will make 10%-30% profits to all of you. No sense in just stopping out at first chance around BE. Perhaps removing some trades but not the whole thing. This way
    Reward:Risk ratio is going to rock.
    My second suggestion is to start avoiding having risk during high impact news such as NFP. It could make way more harm than good. By avoiding such news performance will go down a bit, however, safety level will be sky high.


    Sent from my iPhone using Tapatalk
    I can tell you're not a client because you don't understand in detail how the strategy works.

    If a short trade is still valid on GPBJPY then it makes sense to hold it, but not forever, and that's why we have an absolute worst case scenario of 25%.

    I'd also like to point out that we're not 1000+ pips out of the money. The furthest we've ever been from BE is 257 pips, which evidently is the deepest drawdown we've been in after in 18 months of trading.

    Leave a comment:


  • Vidster
    replied
    I understand breakeven exit would ease off a lot of pain to subscribers/investors. However, I disagree with this kind of view. I am not subscriber yet so I can say what i mean honestly without being biased by pain or excitement.

    Holding trades in 17% loss and just waiting if they hit 25% dd without doing anything is risk. That's about 1000+ pips out of the money. On the other side trader is happy by getting 40 pips on a good trade. Something doesn't align well.
    The first thing I suggest is to hold on for dear life on these current trades. If gbpjpy continues falling with major trend (as it was the initial idea when entering this trade) it will make 10%-30% profits to all of you. No sense in just stopping out at first chance around BE. Perhaps removing some trades but not the whole thing. This way
    Reward:Risk ratio is going to rock.
    My second suggestion is to start avoiding having risk during high impact news such as NFP. It could make way more harm than good. By avoiding such news performance will go down a bit, however, safety level will be sky high.


    Sent from my iPhone using Tapatalk

    Leave a comment:


  • taruh
    replied
    Vijay thanks for sharing your views. On the bright side JPY has started the week with a bang and is the strongest G8 currency across the board. London open looms ahead. Hope we'll get out of this at BE.

    Sent from my SM-G920F using Tapatalk

    Leave a comment:


  • Big River Man
    replied
    Thanks for the updates Vijay. Always helps. Good luck!

    Leave a comment:


  • Zander
    replied
    Thank-you for the update Vijay. Yes, the GBP/JPY trend on the Daily charts still look like we can go lower. Let's all think positively and hope for a good week!

    Leave a comment:


  • hardyli
    replied
    Thanks for let us know your thoughts. Much needed during a time of DD.

    Good luck and hope we all get out of the DD safely.

    Leave a comment:


  • SmartTrader
    replied
    Hey Guys,

    We have been at the maximum Drawdown on smart2. I have been reading each and every forum post. Some posts are about gaps between trades and some about not trading GBP or JPY at all. I thought i would post once there is some semblance in the account or may be some danger that i have to communicate. I have only communicated that i am managing the trades closely and not more than that because i did not want to engage in discussion and want to be with open mind. That will help in my trading.

    If you seen my trades are in accordance with the trend. GBPJPY has been declining for more than a month. Fundamentally GBP is down. There was another occasion recently GBPJPY has gone up 650 pips and continued its downtrend. I am expecting a similar thing. Ofcourse if it goes against us completely, i ll book losses in phases. You have seen me take losses. It will not go beyond 25%. i will stick to the rules.

    I have couple of things that i consider that require changes in the system. They are small but very effective. It will only reduce the DD and give me more room to manually manage the trades.

    I will do my best to exit at break even or at small losses.

    Leave a comment:


  • Steve
    replied
    We could get a risk off start to the week with this news from China which would be good for JPY longs.

    Leave a comment:


  • Price Action Trader
    replied
    Price came within a few pips of the 38.2 fib retracement on Friday from the move down from 175. If this level holds you should get out of the trade. If it fails to hold then the 50% retrace at 16485 is the next target, but more likely to go to the high at 16620.

    If i was Vijay, my stop would be at 16325, if price goes through that area then its likely to go to the 50% and beyond.

    GJ has had a big move down in the last few months so very surprised a trader like Vijay would be shorting it at these levels.

    The last pullback from the move down from 18880 was for 1100 pips, so far we have pulled back 750 pips from the low, so potentially another 350 pips to go. Which would take price into the 166 area. Good luck guys.

    Leave a comment:


  • fabx
    replied
    Anton123 "Brexit has little to do with this..."


    If there is some news over the weekend about Brexit that the market likes or dislikes then it could have a dramatic effect on GBP.
    Last edited by fabx; 03-05-2016, 08:38 PM.

    Leave a comment:


  • Sherif
    replied
    Originally posted by Anton123 View Post
    Why do you trade MAMM then if you are sure you know better than the MAMM manager?
    Its my choice .. not anybody elses choice or responsibility. .. and its not anybodys business also ..
    Thnx


    Sent from my SM-G900H using Tapatalk

    Leave a comment:


  • Anton123
    replied
    Originally posted by Sherif View Post
    Read the post and compare its time with the charts and entry times ..
    The moment i saw the 3rd trade and with 30 pips gap. . I disagreed .. and wrote it here .. if i wasnt in the mamm i would have closed it ...
    Why do you trade MAMM then if you are sure you know better than the MAMM manager?

    Leave a comment:

Working...
X