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Betatrader - Swing Trading System

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  • #91
    Beta calculates the SL then adjusts lotsize to loose 2%. Lotsize depends of pips and currency, as pips do not worth same depending of trading currency.
    I think he explained already

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    • #92

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      • #93
        Yes, the Sl will have been placed where it was for a specific reason and then the position size calculated accordingly, so that 2% was risked. Anyway, here's hoping the next ones a winner...


        Sent from my iPhone using Tapatalk

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        • #94
          Hi everybody,
          It looks like I have a few comments here :-)

          Originally posted by kmf View Post
          My first trade with this Beta signal. Excited to have this signal added to my portfolio here
          Unfortunately for you, your first trade with me was a loser :-)
          But it's part of the game, depending on when my subscribers are joining my signal, it's during winning streak or losing streak. It's normal. Don't worry you will have winners too.

          Originally posted by mackaozy View Post
          Hi Betatrader

          Just looking at your signal and your last trade. Great results!.

          May I ask if you always take the nose of the pin, or do you ever go for a 50% retracement of the pin - trick entry?

          Thanks
          Good question. Yes, I ALWAYS take the nose of the pinbar, I never take a trade on a retracement (for example, 33% or 50% retracement level). The main reason is, as usual, the high-probability trades.
          Relating to my backtesting (and the backtesting of others traders using this system), taking from the nose of the pinbar is more efficient because the winratio is higher. You can try to take pinbar trades from retracement, they will be more profitable but you will have more losers. The winratio of the pinbars taken from retracement is really poor.
          You can backtest it to check it. The idea behind that is the Market momentum. When a significant Pinbar prints on the chart, the entry of the pinbar becomes a significant S/R level for lower timeframes. You increase the winratio by taking only the "breakout" of the pinbar because the Price has more strength due to Momentum.
          For example, you can look at the GBPAUD H4 chart this week, you will see a nice Pinbar and the reaction of the Price on the nose of the Pinbar, even during high volatilty like yesterday.

          Originally posted by GetRichQuickFX View Post
          Mine too. Great dd rule 2%
          This is a static rule and of course, it has never changed and it will never change.


          Originally posted by yabanda View Post
          4% for me ( it was expected though 80% is 80 and not 100 so sooner or later loose has to be taken.
          It's because you run the signal with 2x risk factor I imagine. I hope you had the EURUSD trade before, in this case you are still up to 2% this month at the moment.
          That's why, I don't recommend to use more than 2x risk factor with my signal. If the risk factor is 3x, it makes a drawdown of 6% per losing trade, which is huge...

          Originally posted by Baluda View Post
          Beta,

          The GBPCHF trade was based on a good H4 Pin bar. But what about the H4 Engulfing bar just before the pin bar?

          I hope you do not mind me asking a lot of questions. I just want to learn.

          Paul
          I imagine you are talking about the Bullish H4 engulfing bar just before the pinbar (because there is a bearish engulfing bar before which printed last week).
          It's a good question Baluda. The bullish H4 engulfing bar is pretty nice and significant and did its job in fact. You can see that the price reached the 1:1 level before reversing (as usual when a setup is considered as valid).
          However, this engulfing bar is just below my significant S/R level, which is around 1.50. I could have taken this bullish pattern only if it printed on a significant S/R but it's not the case here. This bar didn't print ON the level but UNDER the level.
          If you look at the Weekly chart, you will see that the 1.50 (round number) S/R level is very important. Look at the end of the last year and the beginning of 2015. To sum up : nice price pattern but printed on the wrong location (even the pattern worked for 1:1 to the pip).

          Originally posted by woolie View Post
          Will be watching this. With average of 3% monthly and risk of 2%. This will be a great system for serious investors.
          Hope you will set up a Mam.
          To be accurate, historically, my monthly average % is more around 4-5% (from myfxbook).
          At the moment, I don't plan to create a MAMM or PAMM. But I have now regular queries about this. I will think about it, to see if it's interesting in few months I think.

          Originally posted by mackaozy View Post
          Gbpchf is dumping now. Stop was too tight.
          Yes, the GBPCHF dumped a bit after having reached my SL. But my SL was not too tight :-)
          As explained by kmf, arkoon and withnail, my lotsize is calculated relating to my SL location. So we don't care about the lotsize because it's calculated to risk only 2% in every circonstances.
          My SL is placed, like always, on the top of the pinbar (or engulfing bar). So the location was fine.
          You saw here that the Price reached the SL before reversing. You can argue that the SL was too tight. But it's only 1 trade. In fact, if you look at my previous GBPJPY Weekly trade in February, the Price did the same, it reached my SL and after that, it reversed and gone to my initial TP.
          It can happen sometimes. But it doesn't mean I have to change the location of my SL. Statistically, it's more profitable to put the SL where it was, because on a larger set of trades, it's more profitable.
          And imagine the consequences, if I put my SL wider, I have to do it for every new setup on my chart. And it will change my standard TP because the TP will be wider too. It's breaking the rules and all the statistics ;-)
          So, my SL was placed as usual.

          What's important here is not the loss. What's important is that the setup totally did fit my system criteria. I'm happy to have taken this setup and I have absolutely no regret. It can sound really weird but I'm happy to have lost money on this setup, because it was a very nice one :-)
          I could write a lot on the context of this pair and the bearish opportunities, I was waiting for this kind of setups since last week. You can draw a bullish trendline since May 2015 and you'll see that the Price is here in a very interesting area and hotspot. It's very likely that the price will dump.
          But I will not sell it again if do not see a ****ing good new setup, because I never take "revenge" trade (common psychological bias) and I accept my loss. That's all. If I have to do it again, I will do it in the exact same way. Don't forget that you have to give money regularly to the Market to be able to have more in return.
          And be sure that there will be another losing trades, but there will be more winners.

          What's cool right now is that the Market is moving its big ass. I think we will see interesting setups in coming days/weeks.

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          • #95
            Hi Beta,

            How are things looking for another trade or two for September? I just joined this month, but after the nice winning EURUSD trade, so I only received the losing GBPCHF trade. So I am down 2% for month and was hoping that maybe you might see a setup for a trade or two still happening this month. I would at least like to break even for the month, maybe even up a bit to cover the subscription fees.

            I know you don't know ahead of time if or when you will be trading, but you mentioned in the post above. " What's cool right now is that the Market is moving its big ass. I think we will see interesting setups in coming days/weeks."

            Just wondering if you still see some interesting setups?

            I'm also planning on switching from the monthly plan to the 6 month sub plan.

            Regards..

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            • #96
              Hi,
              I think one of the pro/cons of Beta is it does not trade very frequently. Only when there are nice set ups. Yes if you want 60-80% win ratio with RR over 1, you need to have great set ups.
              So for sure we'll sometime have days, weeks, maybe even 15 days without anything.
              It's how it works...

              Remember he does not trade monday and friday. So only about 12-13 days of trading a month. Not everyday there are opportunities...!

              Another thing. Please imagine in advance this scenario which is hard for brain... He lost last trade. Say in 1 week new trade. Loss. Then nothing for 10 days... Then new trade with TP 200 pips SL 150 pips... And price goes to 20 pips to TP the ends BE or loss. We'll have to hang on. Profits will cover losses with time (because good win ratio and good RR and proven strategy and brokers cannot cheat with such high timeframes)

              What I mean overall, is, I think Beta profit much be watched every 2 months or so..... VERY boring otherwise... But slow and boring is good in trading.....!

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              • #97
                Originally posted by kmf View Post
                How are things looking for another trade or two for September?
                Just wondering if you still see some interesting setups?
                Hi kmf,
                Yes, as I said, some pairs will now leave their ranging zone to move more. To be honest, I don't know how I will finish September. And no trader can know it. You're only looking at the performance on a monthly perspective, I understand because your subscription is monthly based. However, nobody is able to know how the winning and losing trades will be redistributed over the year, the months and the weeks. Keep in mind that I can have negative months like every trader too. It's not because the system is not efficient, it's because a losing streak could appear in a monthly row. A reliable trading system can't exist without drawdowns and varying montly %. I doesn't exist (or temporarly before blowing up your account). So we will see :-)
                Unfortunately for you, you joined just before a losing trade. You're not the only one but it's better to see the performance overall (my very first subscribers joined in June have seen their account grow up for something about 10-12% I think). And it's not relating to my trading style, you will have the exact same problem with intraday traders taking dozens of trades per day.

                There were some interesting moves this week but not enough reliable to enter the Market for me. As expected, the GBPCHF dropped to the TP of my previous trade (before rising up again as usual) :-]
                Now, I have few pairs on my watchlist : EURCAD daily (I put a sell limit below the yesterday lovely daily pinbar), GBPAUD is in a nice daily sell spot, I could buy the USDCAD on a weekly basis depending on the weekly close, ...

                As Arkoon explained very well (and as written on my first introduction post), I don't trade a lot because I like high-probability setups. I know it can be surprising for investors who likes a lot of activity on their account with intraday signals. I don't trade to have activity on my account but only to make money. I don't care about not trading during long periods when the market consolidates because when the majority of traders are losing money, I just stay outside the Market.
                However, I can understand that it can be disappointing but it's the price to pay to have quality and not quantity.
                And again, like Arkoon said, be sure that my signal is boring. Because successful trading is boring. Here, you will not have surprises with big 10% drawdowns in one day, not floating drawdowns, hedging, ... There will be no surprises here but you will earn money. And just to complete what Arkoon said : in general, you have to see the performance of a trader not on a monthly basis, even for intraday traders, because every system has slowdowns during some Market periods.

                Hope this helps

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                • #98
                  Thanks for your feedback, I agree I joined your signal for all the reasons mentioned above slow and stable return with low DD, always good to have a swing trader in the bag, even better to have one that understands the market and can wait for the best entries like your self.


                  Sent from my iPhone using Tapatalk

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                  • #99
                    For more than half a year I am a part of this community and I have to admit that this signal is the only one from the entire network which I actually consider as a variant for my investment portfolio. Almost every other trader around here uses dangerous money management and risk management rules which can turn out as a great loss some day. Although Beta uses very strict and safe rules of MM and RM, some other traders from around here have one significant advantage: large proven history (3+ years for some of them). And that's why I still have some doubts and some questions for Beta to ask.

                    At first, I saw you mentioning here having 3 years of experience at the market. But the history account is only less than a year old. I'm sorry if it sounds rude but where are previous 2 years of your trading? It seems a bit strange considering the fact that you miscalculated lot size and this is an unusual problem for someone with 2-3 years of experience at the market. If you had at least about 2 years of proven trading history I would have certainly add your signal as a huge part of my portfolio. I've just seen too many traders failing after about 1.5 years of excellent results.

                    Secondly, I don't fully understand why are you hiding your balance in myfxbook account. Especially when it is opened in SimpleTrader network.

                    And thirdly, what is your worst-case scenario? I mean, every trader should admit that there is no guarantee that his trading strategy will continue to work forever. If one day you have for example 6 losing trades in a row, will you consider that as the strategy breakdown or will you continue to trade?

                    Hope these questions are not too rude. But sometimes you have to answer hard questions in order to survive at the market. It's really hard to consistently make money at Forex and it's not a milch cow which will bring money as most people think. Understanding that makes it really hard to believe that your signal is the only one among tens of thousands of trading signals on different platforms which is actually worth subscribing.
                    Last edited by Crane; 09-25-2015, 09:19 PM.

                    Comment


                    • Originally posted by Crane View Post
                      For more than half a year I am a part of this community and I have to admit that this signal is the only one from the entire network which I actually consider as a variant for my investment portfolio. Almost every other trader around here uses dangerous money management and risk management rules which can turn out as a great loss some day. Although Beta uses very strict and safe rules of MM and RM, some other traders from around here have one significant advantage: large proven history (3+ years for some of them). And that's why I still have some doubts and some questions for Beta to ask.

                      At first, I saw you mentioning here having 3 years of experience at the market. But the history account is only less than a year old. I'm sorry if it sounds rude but where are previous 2 years of your trading? It seems a bit strange considering the fact that you miscalculated lot size and this is an unusual problem for someone with 2-3 years of experience at the market. If you had at least about 2 years of proven trading history I would have certainly add your signal as a huge part of my portfolio. I've just seen too many traders failing after about 1.5 years of excellent results.

                      Secondly, I don't fully understand why are you hiding your balance in myfxbook account. Especially when it is opened in SimpleTrader network.

                      And thirdly, what is your worse-case scenario? I mean, every trader should admit that there is no guarantee that his trading strategy will continue to work forever. If one day you have for example 6 losing trades in a row, will you consider that as the strategy breakdown or will you continue to trade?

                      Hope these questions are not too rude. But sometimes you have to answer hard questions in order to survive at the market. It's really hard to consistently make money at Forex and it's not a milch cow which will bring money as most people think. Understanding that makes it really hard to believe that your signal is the only one among tens of thousands of trading signals on different platforms which is actually worth subscribing.
                      Hey Crane, this signa is really impressive but as an investor we all should be skeptikal as you are and asks questions ^^.

                      1) Lot calculating mistake: as he explained, he used another software which calculated his lot size wrongly... SO now he does the calculation by hand to avoid it again.... I myself trade for a long time (hobby) and it still do that can of mistake once a year by investing the buy and sell button... It also happened to Viper to use too high size lot by mistake from time to time ---> So he is a human but Im sure that he will not do this mistake again by calculating on paper and comparing with Babypips lot size calculating.

                      2) I dont think you will get some answer for that .... At least he showed his balance to the people that he makes business with here. For example: You are a company looking for a loan at the bank, you will show them your Financial statements to the bank in order to get the loan that you need for your investments... But you will not display your Financial statments to the world to see it for various secrecy reasons ^^ That is enough transparent for me and he also opened the history !!!
                      Furthermore, he also might have some personnal accounts copying his myster at other brokers ....

                      But yeah, if he can keep the performance, he is one of the best trader worldwide and hedge funds will fight to get this guy !!!!
                      Anything above 10% with low DD is impressive returns. What he's done is astonishing

                      Comment


                      • Hi Crane, I'm honoured that you subscribed here and post your first message for me ;-)
                        No problem, you're a not too rude, I appreciate your honesty. I will answer all your questions.

                        Originally posted by Crane View Post
                        At first, I saw you mentioning here having 3 years of experience at the market. But the history account is only less than a year old. I'm sorry if it sounds rude but where are previous 2 years of your trading? It seems a bit strange considering the fact that you miscalculated lot size and this is an unusual problem for someone with 2-3 years of experience at the market. If you had at least about 2 years of proven trading history I would have certainly add your signal as a huge part of my portfolio. I've just seen too many traders failing after about 1.5 years of excellent results.
                        You are talking about 2 different things here. First, my trading history. My historical account will be next week 1 year old. I can understand that it's not very long to assess a system. The reason why my trade history is shorter than my experience is because of my broker accounts. I changed my accounts serveral times and lost the relating history. At the very beginning of my trading journey, few years ago, when I was still a newbie, I didn't think about the importance of the trading history. I was obviously more focused on my trading than my "exposure" for potential investors. I learned with experience that the trading log is your CV in trading world, it's necessary if you want to become "public". That's why I kept my historical account even if there is only few dollars on it, even if I changed the currency of my main public account this year (to not throw all my trading history).
                        Secondly, you are talking about my miscalculation about lotsize. It's 2 different things :-)
                        I already talked about it few posts ago. You're right, it's an unusual problem due to the fact I had too much confidence in a single software and my personal neglect. I see it more as a process error than a trading error which is not necessarily related to my experience. And I didn't take care of my historical account at this particular moment. We all learn from our mistakes, especially in the Forex world. If you never did errors relating to trading, be sure that you will pay the price heavily. The error is crucial to learn how to trade. I learned the lesson and now I take particular attention when I calculate lotsize.

                        Originally posted by Crane View Post
                        Secondly, I don't fully understand why are you hiding your balance in myfxbook account. Especially when it is opened in SimpleTrader network.
                        I don't "hide" these informations because like you said it's available on Simpletrader network (and signalstart.com website). I prefer not displaying it on myfxbook because there is no granularity on this setting. If I activate this option, we will see all the deposit/withdraws. And for me, the money transferts between my accounts has not necessarily to be directly visible on one of the most browsed Forex website. That's all. But if somebody want to see the amount of money on my public accounts, it's visible on SimpleTrader and Signalstart websites.

                        Originally posted by Crane View Post
                        And thirdly, what is your worst-case scenario? I mean, every trader should admit that there is no guarantee that his trading strategy will continue to work forever. If one day you have for example 6 losing trades in a row, will you consider that as the strategy breakdown or will you continue to trade?
                        Yes, there is no guarantee that my trading strategy will work forever. But my backtests told me that it worked on the last 15 years (and the other traders using this system did it before me). However, I think that if I reach a level of a let's say critical 20% drawdowns (10 losing trades in a row) I will stop trading and go back to backtest my system to regain confidence. But it's highly unlikely.

                        Originally posted by Crane View Post
                        Hope these questions are not too rude. But sometimes you have to answer hard questions in order to survive at the market. It's really hard to consistently make money at Forex and it's not a milch cow which will bring money as most people think. Understanding that makes it really hard to believe that your signal is the only one among tens of thousands of trading signals on different platforms which is actually worth subscribing.
                        I don't know how long you live in the Forex world, what is you experience and what are your referenced "platforms" but it's obvious that I'm not the only signal worth subscribing. I agree with you that there is plenty of dangerous signals around us and often the basics of MM are not respected (I already wrote that trading without SL is incomprehensible for me). The majority of the online "public" signals are losing money over the long run. But I'm afraid that you missed a part of the independant trader community, trading very well. There are few. I'm part of a community called "naked traders". I let you google it. This community is full of very skilled traders and a lot of them are far better than me. I already wrote it : I'm not the only trader using this system...

                        Now, let me be very honest with you too : I reply to your questions because I have time and it's always a pleasure to answer. But don't get me wrong : I didn't answer to your questions to convince you to subscribe to my signal, I did it only because it was interesting to do it. Be sure I really don't care if you have doubts or you find this signal strange. As explained in my first post, I'm not here to promote my signal (I'm here to answer to current subscriber questions). If you don't trust my signal, it's better to not subscribe. My advice for you would be to not subscribe to my signal and wait for 1 additionnal year of trading history to assess the performance more properly. Since I created 1 year subscription, I'm now commited and I will be still here in 12 months.

                        Originally posted by yoyomoma View Post
                        But yeah, if he can keep the performance, he is one of the best trader worldwide and hedge funds will fight to get this guy !!!!
                        Anything above 10% with low DD is impressive returns. What he's done is astonishing
                        Thanks for your comment yoyomama but be sure I'm not one of the best trader worldwide ^^
                        As said previously, I'm part of a community with more skilled traders than me, making more money than me. A lot of people can be surprised to see true profitable traders because the majority of the retail world is made of loss. But the minority, not easily visible, is full of really good traders. I'm just one true profitable trader. That's all. And again : I'm not the only trader using this system.

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                        • Hi BT, can you please comment on the retracement of our EUR/Cad trade . Does that change your view on this position according to the price action and strategy ?

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                          • Obviously will wait for Beta to confirm - but I'm not sure that the retracement would change anything...As far as I understand from Beta's website and his comments here, the only thing that's subject to change, once a trade is open, is moving the SL to B/E in certain circumstances. I don't think trades are closed early if they move against us.

                            Originally posted by yabanda View Post
                            Hi BT, can you please comment on the retracement of our EUR/Cad trade . Does that change your view on this position according to the price action and strategy ?


                            Sent from my iPhone using Tapatalk

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                            • Yeh, That's what I understood also but would just like to know if the pin bar entry is still valid from the price action point of view.
                              I'm not suggesting any action ..

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                              • What matters is the setup was good or not when he took the trade. It was. So then let's wait either TP, SL, or BE if he moves SL to BE if/when profit. Which is not automatic.

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