Smart2 Main Discussion Thread

[Guest]

Be prepared for worst case 25% loss

[Potter]

totally unnecessary, what a cock up lol

you need to start sacrificing goats NOW. Could still be OK as it just needs the next poll to be OK really.

[Potter]

Was a fat finger trade they say. It happened in low liquidity time of day when eu-uk traders were still half asleep. Pound retraced quite a bit so far. The problem at this moment is AUD strength despite the fact that decision to hold rates was expected.

Those three trades are/were actually bets. Bet on brexit/bremain and bet on RBA cut

I hv watched him for years, there have been a lot of these trades, bets.

[oportunis]

At least those are smarttrader trades and not scalpers. They can take bigger pips against entry, but I agree that once trade is in profit he should put SL to break even before any news releases in case it goes against us.

[Vidster]

I hv watched him for years, there have been a lot of these trades, bets.

Hopefully all is ok at the end this time as well

[Guest]

But both trades are against AUD, double exposure.

[SmartTrader]

Hey Guys, we have 3 trades. Two AUDUSD and one GBPAUD. They are already streched too much, so i am hopeful that we will not go to our DD limits. As far as AUDUSD is converned i will try to close the basket at minimal loss or break even. I will leave GBPAUD for sometime, till we are little closer to brexit. That risk will make it come back up some. During that time i will try to close that trade. Before we go to brexit, i either go without any GBP trades or a hedged one(with probably GBPUSD).

Feel free to post anything here.

[oandagut]

Do you see CHF event happening again? like market moving thousands of pips because we have to keep reasonable margin to survive and broker changing leverage requirement on gbp pairs.

[ales]

May I know the rational for running this long GBPAUD position down to these levels? What was the original plan when placing the trade on? Risk reward wise?

Thank you.


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[Sherif]

Hey Guys, we have 3 trades. Two AUDUSD and one GBPAUD. They are already streched too much, so i am hopeful that we will not go to our DD limits. As far as AUDUSD is converned i will try to close the basket at minimal loss or break even. I will leave GBPAUD for sometime, till we are little closer to brexit. That risk will make it come back up some. During that time i will try to close that trade. Before we go to brexit, i either go without any GBP trades or a hedged one(with probably GBPUSD).

Feel free to post anything here.

Pls consider the usd rate hike risks - expectations might get us further trouble for usd part of the hedge

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[ales]

Bit surpriced to see such a experienced trader getting us into a situation like this to be honest. I understand one gets things wrong but risking a year+ yield into one position is quite hard to find words frankly. Not mentioning its being an exposure in GBP which if facing biggest volatility and random moves in decades to say the least... Why Vijay?




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[Salubrious]

It was barely a week ago you had posted about your returns for the month utilizing a low risk strategy, and now we have this. I'm confused and concerned.


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[Nick]

Do you see CHF event happening again? like market moving thousands of pips because we have to keep reasonable margin to survive and broker changing leverage requirement on gbp pairs.

Brexit is nothing like CHF.

CHF was so devastating because it was unexpected, removed the floor on a pegged currency in the middle of the night and liquidity was turned off. Brexit is being eagerly anticipated by the market and I expect we'll see huge volumes on GBP coming into it. The pair will move, that's for sure, but you won't get slipped hundreds of pips.

[Vidster]

It was barely a week ago you had posted about your returns for the month utilizing a low risk strategy, and now we have this. I'm confused and concerned.


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Exactly. What is low risk in these three trades? Darn bets. Please reply to Ales what was initial risk reward. Reward 20 pips as usual? Risk 25% as usual?

I asked for changes, you replied there were some but in reality it hasn't changed a lot. Good thing is you haven't been adding to this losing trade (GBPAUD).

Viper also publishes an update after months of large drawdown. Of course only after euro luckily fell a little bit and he thought he is immortal again, having big plans for H2 2016. Just a few days later euro bounced back up and all we can see is silence mode again. Kinda sucks

[SmartTrader]

Exactly. What is low risk in these three trades? Darn bets. Please reply to Ales what was initial risk reward. Reward 20 pips as usual? Risk 25% as usual?

I asked for changes, you replied there were some but in reality it hasn't changed a lot. Good thing is you haven't been adding to this losing trade (GBPAUD).

Viper also publishes an update after months of large drawdown. Of course only after euro luckily fell a little bit and he thought he is immortal again, having big plans for H2 2016. Just a few days later euro bounced back up and all we can see is silence mode again. Kinda sucks

If i bet, i trade daily, every hour, every minute. I dont bet. Please do your diligence before posting anything. Look at GBPAUD chart and the place i have placed the trade. For months it has been in up trend. It only came down because of the prepoll results, which is not an economic indicator. Still ofcourse, it changes the fate of GBP. i know that. Once there is any news that Bremain campaign has some strength too, GBP will fligh high. The actual risk is only when the poll happens. Till then its only speculation. I would like to close the trade before the actual poll begins. Lets see how the market plays and take our decisions.

Thank you