Announcement

Collapse
No announcement yet.

SPM Capital Management Signal SimpleTrader Network.

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

  • #76
    Originally posted by Steve
    As an FYI I'm also getting issues with myfbook updating with account mismatch errors across all my accounts.
    myfxbook often seems to get screwed up when the markets get very active.
    Give it time and it should sort itself out.

    Comment


    • #77
      Once you f**k up, you never get trusted again. At least not from me! I'm offboarding again. It was a pleasure as long as it lasted. Thanks, but i can't risk more of my money get burned so headless! Well, it was risk capital, so it's ok for me. At least an interesting experience...

      Comment


      • #78
        Last edited by BillHuppert; 02-03-2016, 10:50 PM. Reason: typo

        Comment


        • #79
          Originally posted by Steve


          I could have cut all trades at 15% drawdown, however the pair was so over extended pushing right up at the 200dma, and well above r3 pivot for the day. A 176 pip move on the day.

          There is no logic to the move after the ADP figure. The move is off one comment by a FED member Dudley. USD saw weakness across the board.
          I'll do my best this month to make it back to a positive one.


          Steve
          Well I think there IS logic behind this move. ISM and PMI figures coming softer, US stocks are due a correction after a 6+ year rally naturally and given current global situation markets are really reconsidering those 4x1/4 hikes... When adding the market dollar positioning you are getting really a nasty toxic mix Im afraid. Thats the fundamental part.
          Technically breaking 1.1050 smells like we are really moving into a new trading range at least - 1.1000-1.1500.
          Breaks happen, trends changing... thats normal.

          The problem Im facing is the bad risk management. We knew Steve s style, that he can be flexible, cut loosing trades when they arent really doing what originaly were planned. This is stubborn sitting and praying. 15% DD was the rule and got broken as well. There might be more problems coming if Steve wants to make it all back quickly...

          I really would suggest to cut it all, take a deep breath and move on ... stick to the original, proved style... which has caught my attention and why did i subscribe. I dont really need another martingale signal, neither Viper who at least can job him self out a bit.

          Oh dear, what a day...
          Last edited by ales; 02-03-2016, 06:30 PM.

          Comment


          • #80
            What a ball ache....

            I've had a chat to Steve and let him know this is a HUGE red flag for us. How many times have we seen a trader perform for months on end, only to fail the test of true resilience and cut trades when needed?

            Too many to count unfortunately.

            This is what I LOVE about SteadyCapture, Kilimanjaro and Smart2. These guys have all demonstrated their ability to cut trades while in a drawdown when they know the pain that'll immediately follow.

            That's why I trust so much of my money with them.

            SPM... Steve's a smart, personable guy, and that's why we hired him as our research/forum/social media guy. His track record was also quite outstanding, that's why we agreed to put him on as a trial trader in the trading room. However I want to make it clear that we never did a full due diligence pack on him or his track record. I say this because I don't want this failing to be associated with our experienced, vetted traders.

            Having said that, I'm going to give Steve a bit of rope with this. He's now got a floor in place and I've made it clear that if he breaches that level he's cut. I'm also a big believer that a trader having gone through an experience like this, should they recover, will never make the same mistake again. Smart2 is a perfect example of this.

            Steve has worked his butt off on this account for over a year, one mistake has undone literally thousands of hours of work. Is he going to make the same mistake again? If I'm right about him, I don't think so.
            Click here to check out the most popular forex channel on YouTube

            Comment


            • #81
              Now at 1.1154

              Sent from my SM-N910C using Tapatalk

              Comment


              • #82
                Still 9 positions on euro short are open. All in the red. And euro at 1.1154

                Sent from my SM-N910C using Tapatalk

                Comment


                • #83
                  Originally posted by Steve



                  After speaking to Nick earlier, we have agreed a plan where by i have now placed stops at the high 1.1145 for the first 3 trades in the basket. If this does get hit the next trade entry will be at 1.0922 and we will take a loss of 10%. I do not anticipate this to happen though, as I expect a retrace in the Asia session. I will hold the trades at the top and take off profit at levels on the way down. If i did cut now, that would be a 18% loss.
                  Steve
                  well 3 trades have been cut, remaining 8 opened are again in 16+% DD ... whats the plan B as we havent really dipped in asian session ... ?

                  Comment


                  • #84
                    Originally posted by Nick View Post
                    What a ball ache....

                    I've had a chat to Steve and let him know this is a HUGE red flag for us. How many times have we seen a trader perform for months on end, only to fail the test of true resilience and cut trades when needed?

                    Too many to count unfortunately.

                    This is what I LOVE about SteadyCapture, Kilimanjaro and Smart2. These guys have all demonstrated their ability to cut trades while in a drawdown when they know the pain that'll immediately follow.

                    That's why I trust so much of my money with them.

                    SPM... Steve's a smart, personable guy, and that's why we hired him as our research/forum/social media guy. His track record was also quite outstanding, that's why we agreed to put him on as a trial trader in the trading room. However I want to make it clear that we never did a full due diligence pack on him or his track record. I say this because I don't want this failing to be associated with our experienced, vetted traders.

                    Having said that, I'm going to give Steve a bit of rope with this. He's now got a floor in place and I've made it clear that if he breaches that level he's cut. I'm also a big believer that a trader having gone through an experience like this, should they recover, will never make the same mistake again. Smart2 is a perfect example of this.

                    Steve has worked his butt off on this account for over a year, one mistake has undone literally thousands of hours of work. Is he going to make the same mistake again? If I'm right about him, I don't think so.
                    Thanks for explaining nick. One suggestion i have is that there should be an easier way to check whether a provider is one who has multiple positions open. So that any martingale ekement become apparent. At the moment it meand sifting through all the past trades to try to see this ' and comparing times open and closed etc.

                    Also a option - like a button- that a provider can choose that states he will give a stop tied into each trade and the number of pips maximum that is allowed for the stop.


                    Sent from my SM-N910C using Tapatalk

                    Comment


                    • #85
                      Originally posted by Steve
                      Im order to preserve what capital we have left, I'm going to now put a ceiling in at 1.118 on all of the trades.
                      Just hit 1.11804

                      Sent from my SM-N910C using Tapatalk

                      Comment


                      • #86
                        35% in 2 days that's got to hurt, best part of 9 months to get back to highs.

                        Bad luck


                        Sent from my iPhone using Tapatalk

                        Comment


                        • #87
                          Originally posted by Gunther View Post
                          35% in 2 days that's got to hurt, best part of 9 months to get back to highs.

                          Bad luck


                          Sent from my iPhone using Tapatalk
                          Assuming that something similar doesn't happen again.... Anyway, this has cost me far too much to trust Steve with any more of my money.


                          Sent from my iPhone using Tapatalk

                          Comment


                          • #88
                            Shit this is bad, sorry to see this guys, so soon as well.

                            Comment


                            • #89
                              Originally posted by Gunther View Post
                              35% in 2 days that's got to hurt, best part of 9 months to get back to highs.

                              Bad luck


                              Sent from my iPhone using Tapatalk
                              Wouldnt say it was bad luck... or was the the bet to loose 30+% on one trade?

                              I just hope that Viper has a better plan now ...

                              Comment


                              • #90
                                Originally posted by Steve
                                I will be sourcing and installing an ea that cuts all trades at 15%, so this never happens again. Steve
                                Hello Steve,

                                Have a look at this one (Equity Sentry)

                                It's free, seems to be robust from the limited experience I have had with it, and very easy to use.
                                Worth a look anyway, to give you an idea. I'm using it on an account that is running a robot, as extra protection.

                                Equity Sentry EA can close all trades and prevent other Expert Advisors from opening new positions after your equity drops to a certain level.

                                Comment

                                Working...
                                X