Announcement

Collapse
No announcement yet.

FX4Charlie (NZD) New Signal Discussion Thread

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

  • FX4Charlie (NZD) New Signal Discussion Thread


    Hey Guys

    Most of you will know me from the Traderoom. I have listed my signal on simpletrader.net. I have not made it available to copy yet, as I thought I would first see if there is any interest, as I know three month history is early days. But, atleast those that are interested, can keep an eye on things.

    I trade full time out of New Zealand. If you guys have any questions, feel free to ask, and I will answer as best I can.

    Link to the signal on simpletrader.net:

    https://www.simpletrader.net/signal/...rlie--NZD.html

    Link to myfxbook:

    http://www.myfxbook.com/members/FX4C...ro-nzd/1662983

    And a brief description of the signal (Updated 11/16/2016):

    Manual Trading System, Targeting 1 to 2% Per Month with a max DD of 2.5%. Generally I will risk less than 0.25% per trade, but in the event that I have several trades open, all trades will be closed if we hit the 2.5% DD limit.

    This is a safe strategy, targeting modest gains, but with extremely low risk. My trading strategy works on all time frames, but I use the 1HR time frame for this signal, as it is well suited for trade copying.

    A Mixture of Technical and Fundamental analysis. 1:50 Leverage. Account is with Axitrader and denominated in NZD.

    I always use a stop loss, either set in MT4 or with a little EA that I use to hide the stops from the broker.

    Position lot sizes are not constant, as it depends on the probability of the trade, and of course the ATR of the pair. If I feel it is a high probability trade, I will increase the lot size.

    Generally, Risk vs Reward ratio is 1:1

    I don't use Martingale, Hedging or Grid, however at times I will basket trade, but always adhering to my 2.5% DD limit.

    As I am based in New Zealand, I trade the Asian session, and the start of the European session, and end of the NY Session. I trade all the majors, a few of the minors, Gold, WTI, Copper, and the major stock indexes.

    I do not like to hold positions over night, during news or over the weekend, so generally my positions are only open a couple of hours.


    I will try and answer any questions within a couple of hours.

    Thanks,

    Charlie



    Last edited by Drcdp; 11-22-2016, 10:53 PM.

  • #2
    Hi Drcdp.

    I was trying to find you in the room today. Looks nice trading mate well done.

    When you say risk reward 2:1 you mean you risk $200 to win $100? Or other way around?

    I noticed you have winning % of 61% from 400 trades but average win is $14 and average loss is $12

    So just a bit confused if you can clarify. Not being negative at all in the slightest just getting my head around stats. looks good mate.

    Comment


    • #3
      Originally posted by Big River Man View Post
      Hi Drcdp.

      I was trying to find you in the room today. Looks nice trading mate well done.

      When you say risk reward 2:1 you mean you risk $200 to win $100? Or other way around?

      I noticed you have winning % of 61% from 400 trades but average win is $14 and average loss is $12

      So just a bit confused if you can clarify. Not being negative at all in the slightest just getting my head around stats. looks good mate.
      Hey BRM

      My default SL is twice the TP when I enter a trade. However, I very often close a trade much earlier than my default SL, depending on the PA and the specific variables I look at. Thus the reason that even though my default RiskvsReward at entry is 2 to 1, it vary rarely plays out that way. I will also often take profit early, as I hate turning a winning trade into a losing trade.

      Also, if a setup looks really good based on my system, I will increase the lot size of the trade, thus affecting the average win amount too.

      Cheers,

      C.




      Comment


      • #4
        looks really good!

        Do you have a max percentage per trade that you will risk? You say 5% is that when you cut everything and stop trading for a while or?

        What are you thinking of charging per month?

        Happy trading

        Comment


        • #5
          Hi Drcdp, I'm interested in your signal to supplement Goldstar on my account!

          Comment


          • #6
            Originally posted by freddy250 View Post
            looks really good!

            Do you have a max percentage per trade that you will risk? You say 5% is that when you cut everything and stop trading for a while or?

            What are you thinking of charging per month?

            Happy trading
            Hey Freddy

            Thanks for your question. Yes, 5% DD is when I would cut all open trades.. However, I don't hold trades longer than a couple of hours, and depending on the volatility of the pair, I am usually only targeting between 6 and 12 pips for my TP with a max SL of 2x the TP target. So, I don't think we would get close to 5%, unless I felt there was a very high probability trade, and used a larger lot size, and if that trade went against us, then I would ensure that all open trades are closed before the 5% DD is hit.

            Regarding your question about what I would charge per month, well three months is not a long trading history, and I would prefer another three months of successful trading results before I start selling my signal. However, if you want to take the risk and connect early, well I could look at offering the signal for free, basically you would just need to cover the slave cost that I will be charged by simpletrader. I believe the cost is $15 per connection per month. So, if you want to cover that cost, and you know the risk, then I am happy to set that up for you.


            Cheers,

            C.

            Comment


            • #7
              Originally posted by CrookedIsland View Post
              Hi Drcdp, I'm interested in your signal to supplement Goldstar on my account!
              Hey Mate

              As per my answer above to Freddy250, three months is a very short period of time, and not long enough in my opinion to judge the success of a trader's system. The main purpose of this thread is to gain some exposure, and so that people can keep an eye on what I am doing, and see if I can continue to generate a positive return. However, as I said above, if you want to take the risk, I am happy to offer the signal for free, for atleast the next three months, you will just need to cover the slave connection cost that simpletrader will charge me, which is $15 per month.

              Thanks,

              C.

              Comment


              • #8
                Thats a very kind offer,

                Can you tell us a little about yourself and how long you having been trading successfully?

                Are the results so far as you have done in the past?

                Thanks again for the open-ness, and with results like these and transparency im sure you will be a very sucesssful signal provider in no time.

                Comment


                • #9
                  Originally posted by freddy250 View Post
                  Thats a very kind offer,

                  Can you tell us a little about yourself and how long you having been trading successfully?

                  Are the results so far as you have done in the past?

                  Thanks again for the open-ness, and with results like these and transparency im sure you will be a very sucesssful signal provider in no time.
                  Thanks Freddy. I opened my first FX trading account back in 2005 at Forex.com. I have always enjoyed Macro Economics, thus I thought it would be a nice hobby, as at that stage I thought FX trading was all about Macro Fundamentals. Of course I have changed my opinion since then, I now believe that in between news announcements, the market is dominated by a game of technicals. I still believe that Fundamentals play an important part in the long term trends, but in my opinion, the short game is a technical one. Traded occasionally up until 2009. Lucky enough never to blow an account, I guess it comes from my risk adverse personality. Started trading again in 2013, when I opened a CMC Markets account. Again, just occasionally in the evening after work etc. Had worked in IT for the last 15 years, and decided in mid 2015, it was time to take a break. After a six month break, I decided to look at trading Spot FX and full time, (I also trade stock options via Halifax) and started doing that in Jan of 2016, initially with CMC Markets, but after some research,decided to move over to AXI and use the MT4 platform with an ECN broker. So, you can see my results from the 1st of June when I opened the AXI account at the myfxbook link. I was up around 6% with CMC Markets, using the same type of conservative grinding style of trading, before I switched over to AXI.

                  I am most definitely not going to make anyone rich with this signal, if it eventually goes ahead in a couple of months time, as I target a return of 1 to 2% per month, with very strict DD rules. So far I have been lucky enough to exceed that, but I know there will be months where you end up with a 1 to 2% loss, it is the nature of FX trading. My main goal as a signal provider, is to create a rather boring signal, that returns a small profit, but at the same time has a low risk profile.

                  Feel free to ask any further questions.



                  Comment


                  • #10
                    Nice job Drdcp,

                    Good to see you sticking your neck out there as well. Hopefully you'll eventually come on board and share your talents with the rest of us

                    The pip expectancy and risk:reward ratio are very impressive considering the volume of trades, even if it's only got 3 months history.

                    How are you feeling about it? Surely a there's a touch of excitement & apprehension coming through in the knowledge that you may have something quite unique on your hands.
                    Audio Interview with Jay from SteadyCapture Now Available
                    Click Here To Listen

                    Comment


                    • #11
                      Originally posted by Nick View Post
                      Nice job Drdcp,

                      Good to see you sticking your neck out there as well. Hopefully you'll eventually come on board and share your talents with the rest of us

                      The pip expectancy and risk:reward ratio are very impressive considering the volume of trades, even if it's only got 3 months history.

                      How are you feeling about it? Surely a there's a touch of excitement & apprehension coming through in the knowledge that you may have something quite unique on your hands.
                      Thanks for the encouragement Nick, however, definitely not excited yet. It is early days, give me another three to six months and will see if my trade system works. I have had a lot of luck, but I guess that is all part of trading.

                      Hopefully my system gives me a small edge so that I can return 1 or 2% a month, but only time will tell.

                      Comment


                      • #12
                        Originally posted by Drcdp View Post

                        Thanks for the encouragement Nick, however, definitely not excited yet. It is early days, give me another three to six months and will see if my trade system works. I have had a lot of luck, but I guess that is all part of trading.

                        Hopefully my system gives me a small edge so that I can return 1 or 2% a month, but only time will tell.
                        Sound sensible.

                        Give me driving miss Daisy any day please.

                        I'd pay for the copier and put it on demo. $15 a month is a small price to pay to see how someone handles the pressure if you can find a good trader out of it imho.

                        Comment


                        • #13
                          Originally posted by Big River Man View Post

                          Sound sensible.

                          Give me driving miss Daisy any day please.

                          I'd pay for the copier and put it on demo. $15 a month is a small price to pay to see how someone handles the pressure if you can find a good trader out of it imho.
                          I like the idea of connecting to your Demo account. I will setup the signal charge on simpletrader for the $15 next week and we can give it a go.

                          Have a good weekend.

                          Comment


                          • #14
                            yeah i second Big River Man, i would also happily run on a demo and pay the price to look at your style!

                            Thanks for explaining your background and i personally love boring signals that give small returns and small draw downs, so much nicer than being 'all in' in some trade that 'has' to turn around. Of course you need bigger accounts for it to be worth it but i think there are enough out there.

                            Comment


                            • #15
                              Looks good drcp, if you want more testers I'll hapily connect it to a small live if that's of any help.

                              I think you will be suprised at the interest if you can show steady small gains and can keep that dd in check just like you have so far, it's looking good, keep it up

                              Just subscribed to the thread, will be interested to watch this play out.

                              Here is too keeping up the sexy stats



                              Sent from my SM-N910F using Tapatalk

                              http://www.myfxbook.com/members/dupapa

                              Comment

                              Working...
                              X