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  • Hi Vijay,

    Just out of curiosity:

    Was the third trade entered on the dip a stop order or a manual one?
    I had my finger on the trigger seconds before on my manual account and missed my entry.

    Regards,

    ESG
    Originally posted by SmartTrader View Post
    It's not. Minimum spacing is 30pips. Depends on the swings after the first trade. If u seen our last GBPJPY, we took trade after 150pips, that was bec of moves happened. It's alright, stay cool :-)

    Sent from my PE-TL10 using Tapatalk
    Last edited by ESG; 03-02-2016, 06:43 PM. Reason: typo

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    • Originally posted by ESG View Post
      Hi Vijay,

      Just out of curiosity:

      Was the third trade entered on the dip a stop order or a manual one?
      I had my finger on the trigger seconds before on my manual account and mist my entry.

      Regards,

      ESG
      It's executed by the EA. Market order.

      Sent from my PE-TL10 using Tapatalk
      Trade the market, not the trader

      Comment


      • Hi,

        Generally wat is max number of position opened at once?

        Comment


        • Originally posted by hardyli View Post
          Hi,

          Generally wat is max number of position opened at once?
          There are no set number. I am monitoring it manually now

          Sent from my PE-TL10 using Tapatalk
          Trade the market, not the trader

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          • Just ti konw there IS a stop are for this basket of trads


            Inviato dal mio iPhone utilizzando Tapatalk

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            • Hi, new member here...Im curious....whats the stoploss on this basket? -610 pips at the moment here.

              Comment


              • Originally posted by AllanPizzoni View Post
                Hi, new member here...Im curious....whats the stoploss on this basket? -610 pips at the moment here.
                It's more like 170 pips from break even, which can happen inside a session on GBPJPY.

                There's no fixed stop loss, rather an equity drawdown that he'll cut the trades at. Absolute worst case scenario is 25% loss, however we've seen him close baskets before that numerous times and rebuild successfully.
                Click here to check out the most popular forex channel on YouTube

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                • Originally posted by Nick View Post
                  It's more like 170 pips from break even, which can happen inside a session on GBPJPY.

                  There's no fixed stop loss, rather an equity drawdown that he'll cut the trades at. Absolute worst case scenario is 25% loss, however we've seen him close baskets before that numerous times and rebuild successfully.

                  thanks for explanation Nick. and Im assuming hell wait for the another top and hedge it from there again.

                  Comment


                  • Originally posted by AllanPizzoni View Post
                    thanks for explanation Nick. and Im assuming hell wait for the another top and hedge it from there again.
                    Honestly .. i was quiet worried the trades were too close to each otger than usual. .. also we has a chance to close with 0.3-0.5% profit and we passed it when we had only 3 trades open ..
                    Maybe vigay didnt close because he was afraid slippage would hurt some subscribers and they would end up loosing in the basket by this slippage .. we had much more smooth gains when gapping was bigger imo ..
                    Yet i am sure vigay will steer out of this with minimum damage ..
                    Fingers crossed the market wont be mean to us again ☺


                    Sent from my SM-G900H using Tapatalk

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                    • Hi
                      I am surprised you gone back to your old ways of opening so many trades for such a volatile pair like GBPJPY with minimum "spacing" in between.
                      Seems the lessons from the disastrous GBPAUD trade is forgotten.
                      GBPJPY can easily move 200+ pips per day and opening so many trades so close to each order is recipe for disaster. You are just betting and trying to see if your luck is good, you maybe can close out at breakeven or profit but if sentiment is good again today for GBP, you will be wiped out. Even if your analysis is correct, you would be wiped out or forced to close before the prevailing trend reverses.

                      Actually you had a chance to close the trade at a small profit when only 2 trades are opened. But you didn't. The price went aggressively the other side. This is usually a sign of big problems.

                      I would suggest you limit your maximum losses for volatile pair trades else 1 loss will wipe out 1 month or more of returns.

                      I and believe from the questions posted by other subscribers, many would like to know what is the max loss before you will close the basket of GBPJPY trades? I read -25% in 1 trade. I think that is overly aggressive as it will take 6 months to return the account to black and (based on average monthly returns) it is replied by Nick not Vijay. Perhaps Vijay can give us better insights??

                      While I have no doubt you are an excellent trader for most parts, I really hope we don't go back to take too big risks for 1 trade.

                      Most trades you entered make small number of pips and you really have to manage risks else losses like this will just waste all the good work. Sometimes it is ok to take a loss that you can rebuild on rather than 1 that will take 2-3 months to return to black as who knows if there will be another bad trade within that 2-3 months.
                      Last edited by hking; 03-04-2016, 02:40 AM.

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                      • Guys, you do know that it is the EA that enters the tradess right? Vijay did not open them manually. And as he stated the trade positioning is dynamic based on current volatility and price action.

                        And as proven before, he cuts everything at 25% loss, but i guess he can manually intervene and dig his way out of the drawdown if possible.

                        So why all the questions?

                        Cheers.

                        Sent from my HTC One_M8 using Tapatalk

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                        • Originally posted by yvancoronado View Post
                          Guys, you do know that it is the EA that enters the tradess right? Vijay did not open them manually. And as he stated the trade positioning is dynamic based on current volatility and price action.

                          And as proven before, he cuts everything at 25% loss, but i guess he can manually intervene and dig his way out of the drawdown if possible.

                          So why all the questions?

                          Cheers.

                          Sent from my HTC One_M8 using Tapatalk
                          I guess all the questions r because we just reached high watermark back ( after a big loss ) a few days ago ..
                          And another loss like this will be pissibg off many people who wont be happy to wait another 3 months to get back to the zero mark for 2nd time in 3 months ..
                          And i cant get ur point by saying its the ea that opens that trades .. do does this mean i need to blame the ea or what ?.. its the trader that controls the ea. .
                          No offense to anyone here ... bht really another 10-20% loss for me wont be understandable to me at all ..
                          Hope we really get lucky and avoid such scenario later on thats all ..☺

                          Sent from my SM-G900H using Tapatalk

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                          • I understand everyone's concern. I am a manual trader at heart but I also have a full time job. So what does that mean? I want to rely on someone who will/can trade for me when I am at work (or asleep). I trade with stop losses, Vijay does not. That is simply my style of trading. That does NOT make his style of trading wrong or incorrect. Some may be critical of traders who trade with stop losses. I rely on Vijay because he can get the job done when I am away from my computer and he has proven during times like this that he can get us out of this situation (please look back at early 2015 and the CHF debacle) that did take out a lot of traders. I know, because I know personally of a few that basically busted their accounts. Vijay was able to get out of that situation. Not only that... he was able to finish the year with a very great 2015 end-result! Just my humble opinion; if you want to follow Smart trust that he can get the job done at the end of the day.

                            Comment


                            • Originally posted by yvancoronado View Post
                              Guys, you do know that it is the EA that enters the tradess right? Vijay did not open them manually. And as he stated the trade positioning is dynamic based on current volatility and price action.

                              And as proven before, he cuts everything at 25% loss, but i guess he can manually intervene and dig his way out of the drawdown if possible.

                              So why all the questions?

                              Cheers.

                              Sent from my HTC One_M8 using Tapatalk
                              Hi

                              Firstly, I believe Vijay picks the pairs to trade and enter the EA settings. If you have any experience with EA trading, you would know that there still needs to be monitored by humans especially this form of trading where you get small gains and big losses when it happens.
                              My point is that one should never open trades at such tight ranges for volatile pairs like GBPJPY.

                              Secondly, if he had monitored the trade, he would have closed the basket when he had the chance with small profit earlier as it is quite clear yesterday is risk on day and I made trades in opposite direction from him all day long.

                              Thirdly, yes, we may still get out of trouble this time round but it is really luck more than any skill now. Do you know what Mr Market is going to give you today? If it is risk on, then good bye to this trade and you will be staring at huge loss. If we are not stopped out today, with China NPC going on and who knows what news is going to come out over the weekend, we could be either closed out either way.

                              We are paying fixed subscription here not profit share so after paying a few months of subscription to get account back to square one, we definitely don't want 1 mistake to wipe out 3 months of hard work. This way, we are paying 6 months for nothing.

                              If Vijay does not change his tactics from opening trades at such tight intervals for volatile pairs, then I believe many subscribers will review their subscription.

                              Make no mistake, Vijay is a great trader and I respect him for that but he needs to improve his risks management. Everyone can make mistakes and losing trades in trading but what we want to avoid is 1 mistake will take 50 wins to get even.

                              After all, I want to Vijay to continue to do well here so I am giving a suggestion for him to look at. If you go into hedge funds, the mandate will force you to cut off far earlier than you can so this strategy will not work. Losing 25% for 1 trade will probably get the trader fired.
                              Last edited by hking; 03-04-2016, 05:33 AM.

                              Comment


                              • Originally posted by hking View Post
                                Hi

                                Firstly, I believe Vijay picks the pairs to trade and enter the EA settings. If you have any experience with EA trading, you would know that there still needs to be monitored by humans especially this form of trading where you get small gains and big losses when it happens.
                                My point is that one should never open trades at such tight ranges for volatile pairs like GBPJPY.

                                Secondly, if he had monitored the trade, he would have closed the basket when he had the chance with small profit earlier as it is quite clear yesterday is risk on day and I made trades in opposite direction from him all day long.

                                Thirdly, yes, we may still get out of trouble this time round but it is really luck more than any skill now. Do you know what Mr Market is going to give you today? If it is risk on, then good bye to this trade and you will be staring at huge loss. If we are not stopped out today, with China NPC going on and who knows what news is going to come out over the weekend, we could be either closed out either way.

                                We are paying fixed subscription here not profit share so after paying a few months of subscription to get account back to square one, we definitely don't want 1 mistake to wipe out 3 months of hard work. This way, we are paying 6 months for nothing.

                                If Vijay does not change his tactics from opening trades at such tight intervals for volatile pairs, then I believe many subscribers will review their subscription.

                                Make no mistake, Vijay is a great trader and I respect him for that but he needs to improve his risks management. Everyone can make mistakes and losing trades in trading but what we want to avoid is 1 mistake will take 50 wins to get even.

                                After all, I want to Vijay to continue to do well here so I am giving a suggestion for him to look at. If you go into hedge funds, the mandate will force you to cut off far earlier than you can so this strategy will not work. Losing 25% for 1 trade will probably get the trader fired.
                                Very good points. Something is definitely amiss as this risk is way higher than normal. The spacing is way off. Smart Trader never got into this much drawdown so quickly. Smart Scalper does. But not Trader. Look at these strong up moves. The distance between now and the original entry surely must invalidate the original reason for entry. I just don't get this.

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