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Satang FX Signal/MAM - minkw

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  • Satang FX Signal/MAM - minkw

    Hi All,

    I've decided to enter the public arena and offer my trading signal and MAM

    Some of you might know me, as ive been around for quite some time, in the earlier days I was on the forexlivetrading.info site and followed several of Nicks traders, ive been though the ups and downs of the traders that come and go an have learnt a fair bit over the years,

    Sorry I don't really contribute much on the forums or in the trade-room as I trade full time and have other businesses I oversee,

    I have launched my website: www.satangfx.com

    Myfxbook Master Account (170k)
    http://www.myfxbook.com/members/Sata...master/2310608

    Myfxbook MAM with BlueBerry Markets 1.5 x Risk ​
    (95k)
    http://www.myfxbook.com/members/Sata...x-risk/2310656

    Simpletrader
    https://www.simpletrader.net/signal/...E-ACCOUNT.html

    The master account is also the account that's participating in the trading contest(placing 2nd place continuously), I've won 1st place in the monthly draw a few times, but cannot seem to overtake that PistolPete guy on the global leader board.

    I understand I dont have much of a track record this is due to two reasons, first is I have only recently decided to offer my services in the public domain, and secondly I changed brokers 7 months ago to IC Markets as Nick offered a slightly better discount under his IB, as previous I was with FXCM in their Private Client Group.

    I don't expect a huge deal of interest as I only have a handful of followers in simpletrader and not much in the MAM, but I hope that you can follow my track record as it continues ,and perhaps sometime in the future you may consider to follow my signal or invest in the MAM,

    I am located in both Sydney Australia, and Bangkok/Chiang Mai Thailand and am usually available during the Asia Pacific and European sessions to answer any questions.

    Best Regards,

    Satang FX / minkw
    www.satangfx.com
    invest@satangfx.com
    Last edited by minkw; 12-03-2017, 08:00 AM.

  • #2
    I have been copying minkw’s signal for a few months now. The returns are solid with minimal drawdown. The strategy makes money, and the trader behind it is an honest individual. Not afraid to take a loss when required. I’d recommend to anyone that has spare change to try this signal out. Good luck.

    Comment


    • #3
      Good luck minkw!
      Great to see a member of the community making gains. I will definitely check it out!

      Comment


      • #4
        Hi klass and BRM,

        Thanks for your kind words,

        On another note I will try to update this thread at least once a month with progress,

        cheers
        Last edited by minkw; 11-05-2017, 05:51 AM.

        Comment


        • #5
          minkw

          I was trying to find your Top Trader interview with Jason but can't find it anywhere? Do you have a link or did you not do one?

          Comment


          • #6
            Hi BRM,

            I didn't do a podcast with Jason as I didn't have time, instead he sent me the questions and I emailed them back, for some reason that I dont know it was never published on the site,

            Below I have the questions and answers from Jason.
            1. Tell me a little about yourself?
              1. Try and get age,
              2. Where he lives,
              3. What he does for a profession
              4. Family etc.

            Hi, I am in my early 30’s and live in Thailand, I was born in South Korea then moved to Sydney at an early age, spent most of my life in Sydney then moved overseas just under 2 years ago, previous to forex I worked in wholesale travel, so we basically sold travel to travel agents as we were the channel between ground operators overseas and the retail agents in Australia, I've traded forex full time since November 2015
            1. How did you get into Forex?

            I have always had an interest with the financial markets, I started out investing in those big wholesale managed funds, example Colonial First State and Perpetual, but these were quite boring, the returns were minimal, as after doing further research, all these big funds would do is buy into blue chip companies, I then started to invest in the geared managed funds, these had much better returns however the entry/exit, performance and management fees were terrible, I then started with stocks on the ASX with the E Trade platform
            1. How do you hear about Forex Signals?

            As I felt stocks were not for me due to the limitations of the exchanges open/close hours, I could trade the overseas markets but the overnight risk was too big, As I could not stay awake for the whole sessions, so gapping was a real issue with me, due to the overnight risk, I then saw an advertisement on eToro on FaceBook about 24 hour trading that then lead me to ZuluTrade, I then was trying to find information on a particular EA and I stumbled on a post on Donna from Nick about a different EA, I think it was called Ping Pong EA, can't remember, anyway that then lead me to Nick's site, I think it was infoliveforextrading.com or something back then.
            1. How long have you been a member for?

            Just checked my forum profile and apparently its June 2014, however it might be earlier, as I was around on the old site with the old forums and the different chatroom.
            1. How long have you been trading Forex or investing / trading?

            I have been trading forex for about 4 years and stocks about 2-3 years before that.
            1. Can you describe your experience when you first got started in Forex?
              1. Probe about losing any money from the get-go?

            It was very exciting, as the amount of leverage offered by brokers was amazing, I actually have never blown a live account, but ive blown many demo accounts, every time I blow up a demo account I would remind myself this could have been a live account, so I am extremely careful when it comes to leverage and risk. When I went live, I was literally trading .01 lots per $1000, so 1:1 leverage, the gains were so small and so were the losses I was tempted to leverage up, but I would always remind myself of the countless demo accounts that I blew up, so instead I saved until i could generate better returns with very little to no leverage.
            1. How would you describe your trading strategy?
              1. Try and get as much detail about his general approach
              2. What instruments do you prefer to trade and why?
              3. What hours of the day to you typically trade and how often are you trading?
              4. Automated / manual trading?
              5. Where did your strategy derive from – research, back-testing, adopting a strategy?

            I don't really want to go into much detail as it has taken quite a few years to somewhat fine tune the EA I use, my EA trades around the clock and looks for the best entry mainly on the longer time periods so generally 1H/4H/Daily, If the original entry moves against me I use a basket of 10 positions maximum to average out of the basket.
            1. What are your thoughts on risk management, how do you manage your risk? Do you have complex rules or is it straight forward for every setup?

            I think this is the most important issue when trading and also especially forex, this also boils down to leverage, many people lose a lot of money when trading forex due to leverage, as we know its a double edge sword,

            The way I manage risk is based on per basket, I don’t use stop loss for any positions, however I have a hard “Close All” once i hit a 20% drawdown on my account, but this scenario is extreme/worst case, I generally will accept a loss at a lesser drawdown, I also scale into all positions, and this mixed with very little to no leverage enables me to enjoy quite a lot of room if the original positions move against me, i think its true that if you can control leverage, you can control risk.
            1. How do you deal with the losing aspect of trading? After-all, we all lose from time to time. Does it emotionally affect you sometimes?

            Losing is part of the job, yes it happens from time to time, just learn from the mistakes and move on, the worst thing is to let it affect you emotionally, this used to affect me in the beginning, but this is why I use an EA, the EA trades about 90% of the time, and as long as I don’t touch it, it will stick to the rules.
            1. Are you a self-taught trader, if so who has been your biggest help to get you to where you are today?
              1. If he’s not self-taught, has he done courses? (don’t want to promote anywhere else though).

            Self taught, as before i dived into live account trading a did a lot of research, pretty much anything you need to know about forex is free on the internet, all the courses I feel are either scams or are for people who have no idea what forex is, just watching price action and lots of screen time is the best option, I remember I would just lie in bed at night with the charts on my phone and just watch the price for several hours on end,
            1. What does he consider as the best kind of education for a trader?

            I think this would be to have enough time to actually learn how to trade and to stick with it, as many people think its fast and quick easy money, as we all know its definitely not, people really need to put 100% into it, I believe there's no such thing as successful part time or hobby traders.
            1. What are your objectives from here – are you keen to continue your progress with the chance of becoming a professional money manager here at Forex Signals?

            Perhaps, as I currently manage funds for family and friends, and a handful of private clients, as I trade full time. I think Nick would be looking at at least a 1 year track record, so if and when the time comes it may be an opportunity I might be interested in.
            1. Wrap-up – “you’ll be watching his progress and wish him all the best”
            Last edited by minkw; 11-06-2017, 08:07 AM.

            Comment


            • #7
              Hi All,

              As I have been asked a lot about the DD on the aud/cad basket I would like to give an update,

              I feel its best for everyone to know my thoughts and strategy moving forwards,

              Yes the DD is annoying and slowly reaching 3%, the aud/cad pair tends to range the most and I have been expecting a decedent reversal, the latest entry bounced off the latest entry and broke lower a few days ago, I am planning on entering again around d the .969 level but perhaps a little lower as I would like to give us a bit more space.

              I did consider hedging at .9765 but I personally think thats a dangerous game, while looking at current price it would have worked in our favor, but its not something I would be able to navigate out of, as the aud/cad tends to respect parity, so my bias is still long,

              The current dd is not much of an issue for me as I am a bit over 1:2 leverage on the master on that pair,

              I think that some of the followers might be are using a higher risk multiplier, so I strongly suggest you copy/follow max at 1.5% risk, (same as the MAM)

              The loss in August(usd/cad) we were in the same situation, DD was approaching 3% and I took the loss, however as you can see, if we held on we would have been out at break even, yet still taking the loss, I was able to deliver a 1.34% return.

              So my plans moving forward is to continue to hold this basket, as most of you should be gaining positives swaps, and to average out, I feel if price is unlikely to break lower,

              I will take the loss around 5-6%, this will then allow me to recover within 1-2 months, while I do have a hard stop loss at 20% this is something im not willing to employ, as a 20% loss would literally take me 6-10 months to recover from,


              As you can see I am still trading the aud/nzd and usd/cad pairs and booking good pips, however I am considering halting trading those pairs until we exit the aud/cad basket.

              Again I apologies from the DD, and hope you understand where I am coming from,

              Satang FX
              www.satangfx.com
              invest@satangfx.com
              Last edited by minkw; 11-13-2017, 06:24 PM.

              Comment


              • #8
                Originally posted by minkw View Post
                Hi All,

                So my plans moving forward is to continue to hold this basket, as most of you should be gaining positives swaps, and to average out, I feel if price is unlikely to break lower,

                I will take the loss around 5-6%, this will then allow me to recover within 1-2 months, while I do have a hard stop loss at 20% this is something im not willing to employ, as a 20% loss would literally take me 6-10 months to recover from,

                As you can see I am still trading the aud/nzd and usd/cad pairs and booking good pips, however I am considering halting trading those pairs until we exit the aud/cad basket.

                Again I apologies from the DD, and hope you understand where I am coming from,

                Satang FX
                www.satangfx.com
                invest@satangfx.com
                Hi Minkw,

                Thank you for your update. Much appreciated and it has certainly settled my nerves.
                Pete

                Comment


                • #9
                  Minkw,

                  Good to hear your thoughts. In regards to stopping other pairs, I would just suggest to only do what you normally do. If you stop trading other pairs then stop, if you don't normally then don't. I think the key to a goo signal is the provider just doing what is good for their account and not worrying about other people's nerves. There are pros and cons to stop trading other pairs as you know and who knows the correct answer or even if there is a correct answer. But one of the best things about this signal is that a follower knows that you have skin in the game so essentially whatever you decide for your own account will most likely make all followers confident and happy. Just my 2 cents.

                  Keep up the good work.

                  Comment


                  • #10
                    Hi Pete,

                    Thanks for being a sub and im glad I was able to settle your nerves,

                    BRM,

                    I really appreciate your advice, as since moving into the public arena, its been a lot harder then anticipated, as I am constantly aware that followers and people in the MAM are watching their accounts,

                    Taking your advice, I have decided I will not stop trading the other pairs as I see some good opportunities on the horizon with the current two other baskets,

                    Yes I do have a decent amount of skin in the game, however with the MAM and followers my mindset has somewhat changed hence questioning myself if I should halt the other pairs,

                    I did follow Viper in the heyday's along with some other signals and I was comfortable with 20-30% dd, but with now becoming a provider I need to be more cautious,

                    Also I totally believe in the curse of forex, as whenever I change brokers I go into dd, also I had somewhat of an influx of subs early last week on simpletrader then again went into dd, this also happened again in August, when I launched the signal, obtained a few subs then dd again,

                    Just thinking out loud if I never launched the signal/MAM I would let the current situation push out to 10-20% dd as thats what I am comfortable with, as I know with my financial situation this is acceptable, however with the investors, I have no idea about their financial situation or what kind of risks the subs are running nor their account balances, so to be honest this does worry me due to the responsibility, I understand that this should not affect my strategy however as you can guess its hard to ignore,

                    Anyway again thank you for your advice,

                    Best Regards,

                    Satang FX/minkw
                    www.satangfx.com
                    Last edited by minkw; 11-14-2017, 08:20 AM.

                    Comment


                    • #11
                      Yes of course. natural human emotions.

                      But it sounds like you answered the question yourself.

                      As long as investors know what to expect from the previous analysis history PLUS what is stated by the provider then no investor can have a reason to be worried.

                      Where problems occur in the past is when you see a signal has 2% drawdown and the description says 5% max drawdown and then the provider goes into 15% drawdown!!! that's when people will of course complain!!! I think with your strategy or trend and range trading that you will always have a 5% drawdown few times a year which would swing back. This seems normal for your strategy from the analysis that i have done.

                      As has been seen on the other thread called "Impluse" the provider might have got too involved and therefore emotions were higher. But the number 1 factor of signal provider should just be their account. So as a sub i like yours because you have over $150k in your account which is great.......it's when other signals have $3k in their account that you worry because they make $3k a month from the signal subs and less from actual trading!!!!

                      Anyways good luck! Great history so far which means a good understanding of the markets.

                      BRM


                      Comment


                      • #12
                        Hi BRM,

                        Thanks for your reply, your pretty much spot on in relation to the strategy, sometimes I miss the main trend and it causes DD, this is what happened in May, I was a little to early on the usd/cad however with patients I was then able to ride the the pip train all the way down to 1.24, then got caught a bit with the pullback hence the dd in July,

                        The aud/cad tends to be more of a range strategy, and its just not working in my favour at the moment, especially with the recent data that came out today, technically the move now is extremely over extended, with major support coming I am expecting a decent reversal, however if I hit the stated drawdown of 5-6%, I will close out and reenter with still a long bias but with less exposure, hedging is an option but very hard to navigate out as you need to time it well, I dont want to see myself in a Viper/Asad Reborn/DayFox situation,

                        I've also been booking good pips on the other two pairs, as im constantly trying to take risk off, so ive been taking profit too early, as you can see from the price action, if I didnt close the most recent entries I would have been out of those two other baskets by now, so that was a mistake, again this boils down to the emotional aspect of being a provider, while I assuming all my post are being read by possible subs/investors and its probably not the best marketing method for me to openly discuss how emotions are affecting my trading, However I feel its better to be honest and truthful,

                        I did not read much into the Impulse thread as their was soo many post and I didn't want to get involved.

                        Again thank you for your input, its greatly appreciated

                        Cheers,

                        Satang FX/minkw

                        Comment


                        • #13
                          Dear All,

                          I was surprised I received a question from a potential sub, as I was expecting their would be little interest in my signal due to the current drawdown, since the dd I have only lost one sub, I initally thought everyone would have jumped ship howver it seems not the case,

                          I have posted below a question I received to a potential sub as he asked me if it was a good time to join,

                          __

                          While its always generally better to join a signal when the master account is in DD, however if you read the post the aud/cad basket is reaching my personal uncomfortable level, while the max advertised dd is quite far off, I am considering to cut the aud/cad basket if it reaches 5-6% as I am a very cautious trader and as you can see I have quite a bit on the line,

                          If you did decide to subscribe, you have two options,

                          1. you can disable the aud/cad pair and copy the aud/nzd and usd/cad pairs that are doing well, then enable the aud/cad once I recover or cut the basket,

                          2. you could decide to enable the aud/cad pair and you would be loaded somewhat heavily long, or you could immediately close the majority of the positions and let me manage a few, the amount is up to you and you should consider the amount of risk your willing to take.

                          My personal suggestion is option 1, you is to wait until I cut the aud/cad or recover, the flipside is, as I am trying to average out of the basket, and if successful you would have missed out on gaining a great deal of profit,

                          I hope that makes sense and let me know if you have any further questions,

                          Best Regards,

                          Satang FX
                          www.satangfx.com
                          invest@satangfx.com

                          ps, sorry if it seems like im spamming and banging on a bit, but I feel I should be as informative as possible,

                          Comment


                          • #14
                            I see that your master account is leveraged 1:500. What is the minimum leverage recommended. Higher leverage more swaps fees. nc!

                            Comment


                            • #15
                              Hi nc!,

                              Yes the master account with IC is on 1:500, however never in my dreams would I use that much leverage, generally 1:5 is fine, however 1:10 is pushing it a bit, that's in my eyes however, people will have different risk appetites, generally swap is not a concern as I always take that into account, for example, I am aware that people may not be receiving positive swaps on the aud/cad basket, so the aim here on my end is to break even with a very small profit, hence it should offset people with no swaps and result in a minimal amount of loss for people who might be receiving negative swaps.

                              I would recommend minimum leverage for followers would be 1:100 same as the MAM,

                              Hope that helps

                              Kind Regards,

                              Satang FX / minkw

                              Comment

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