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Satang FX Signal/MAM - minkw

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  • Originally posted by minkw View Post
    we dodged a bullet, so far
    Yeah NFP worked out well, I'll take a bit of luck like that any day of the week


    • doing ok,should retrace a bit on the usd cad, then see a push higher, dd i dont like at he moment but its manageable


      • NFP helped. You now have a lot of room to play with


        • Yep, have a lot of wiggle room now for next week ,
          about time nfp did something good for us


          • Hi All,

            Quick update,

            usd cad was closed with a small profit, i personally would have liked to keep going long, however due to the 5% dd restrictions i needed to play it safe,

            Also BRM, I have finally got around to updating the website!, simple-trader etc with the updates strategy being hard stop close out all at 5%, if I have missed something please let me know,

            Also the prop fund is a bit of a nightmare, i feel im being handcuffed to the desk due to the max dd, as i always feel im walking on thin ice, however in a few more weeks I should receive a larger allocation, so I can dial down the risk on fund, and should be able to trade with a higher dd on the master being roughly 7-10%,

            Best Regards,

            Satang FX / minkw


            • satang,

              why 5% dd limit ????

              that seems awfully low to me, how did you arrive at that number ??

              i have given this quite a bit of thought myself and will be shooting for 20% there abouts, over 30% i consider unrecoverable, but to low dd restricts the potential gains.


              • Hi Reinerh, he explained earlier, below.

                Originally posted by reinerh View Post

                The change in strategy is the fact that I am now prop trading for a forex fund, and I cannot exceed 5%dd, if I do my account with them will be terminated, while its actually about 4%dd, I am running the prop account at around .75 x risk in relation to the master at ICM, so roughly I now cannot exceed 5% on the master. Im currently trying to get the account verified with myfxbook but its pretty hard, I do have it on myfxbook but the account is currently private and not verified, the main issue im having is that because im not trading directly with a broker its not listed, as im trading an allocation from the fund, and they then bridge my trades to the broker, ive contacted myfxbook and they will see if they will allow to add the mt4 server, will keep you updated.

                I have in place now a 5% hard SL based on account dd equity, this is managed internally in the EA.

                What does this mean to you? nothing really, just means I am more limited and need to be more careful,


                • Hi reinerh, per above what efxtrade quoted,

                  generally this strategy works better with a 10-15% hard stop, however a manual close at lesser dd is executed,

                  Because I'm currently locked in at a hard 5% stop loss yes your correct this does not give me much room to play with, another issue is that some on my subs are running this signal at 0.5 x risk, so they might get stopped out at 2.5%

                  I'm going to lower lot size again for the next few weeks and will work something out


                  • i dont know your strategy, but if max 5% dd works for you that be quite remarkable, meaning you can still make decent profits while maintaining such low dd.

                    for mine i need 15% at least. yours sure doing decent so far no question and since you respect your stops thats very admirable.


                    • Originally posted by reinerh View Post

                      why 5% dd limit ????

                      that seems awfully low to me, how did you arrive at that number ??

                      i have given this quite a bit of thought myself and will be shooting for 20% there abouts, over 30% i consider unrecoverable, but to low dd restricts the potential gains.
                      At the end of the day 5%, 10%, 20% it reall doesn't matter. it's purely related to what the monthly expected is. No point having 30% drawdown if monthyl expected is 1%!! Obviously the account size needs to be big enough in case 0.01 trades send you into larger drawdowns but with this signal over 100k that's obviously not an issue. Sounds like reducing the initial trade sizes to go in line with 5% drawdown would remove te handcuffs and obviously lessen the monthly expected.


                      • Hi BRM,

                        Yes thats correct, as I have a generally large master i am able to use variable lot sizes and build into positions and scale/average in and out with very little leverage and low risk,

                        The prop account is actually quite small at the moment only 10k usd and due to the lot sizes sometimes the prop account will either double the position or execute the same lot size, so its driving me insane as i need to keep a constant eye on it,

                        even though as many of my subs can see i generally increase lot size slightly, this is mainly to capitalize on profits. worse case scenario is that subs are running on fixed lot size, i just did an average and all months so far have been positive in pip count with an average over the last 10 months of being about 1,300 pips per month,

                        im currently passing with flying colours and in the next few weeks i should receive a 40k allocation, then this gradually increases over time, this will then allow me to dial down the risk on the prop account and then let the master have a cap of 7% hard stop loss, ie run the prop account at 0.50 x risk, so 3.5% so keeping within the 4% limit of the prop account


                        • Also thanks reinerh,

                          (didnt want to edit the above post as it would be deleted and flagged as spam)


                          • Crazy markets, dj and 500 a200

                            total nightmare, we were almost at breakeven, however with keeping risk low we are still safe,


                            • Ok hi all bit of an update,

                              Stocks in the USA have encouraged a wobble across the board, so this is currently effecting our aud position due to the asx, how long will this last? I don't know but let's see how price plays out in the next few sessions, aud cad is still trading within range so I'm not worried, however and nzd has been decimated along with aud usd,

                              The sell off should only last a few days and we will see confidence return into the markets, so hopefully we can capitalis on the reversal

                              We are well positioned with our current baskets so please don't be alarmed

                              The usd sell off is not justified as per the nfp and other data so I foresee this is just a slight correction, however company stock prices in relation to the dj and sp500 does not warrant or reflect properly the rally over the last 10 months

                              We are already starting to see a recovery across the board so we are well positioned

                              the above was a copy paste from an email I sent, so it kinda fked up with the formatting


                              • Hi all,

                                Quick update and a other information,

                                As you can see my bias with the aud nzd was totally wrong I was expecting aud strength across the board. While I sometimes scale and profit take out of a basket due to aud nzd the main goal here is to 100% average out with no loss

                                Aud cad is fine and we have been booking some nice pips.

                                Usd cad I have seen some great opportunities however am not going to trade as risk management and keeping drawdown low is paramount at the moment,

                                I have also had ​several request about further trade history as currently I only have ​11 months publicly available on myfxbook, as I know some of you want more history before committing which is understandable​.​

                                A few people have what I have attached already so I've decided to make this public for everyone,

                                I started trading forex back in 2013 with gain capital, they were providing the brand​.au ​and have attached a report I was able to obtain from them, yes the profit is not much as I did not use any leverage, as I was so scared to lose money, this was my first account, and as you can see it didn't blow! I've actually never blown any live accounts, quite a few demos though, also I already knew the stats regarding retail traders success rates, so I started forex trading with a big account, I think this was the best thing I ever did as I went kinda all in, and really could not afford to loose it, however I think if I started with a few thousand I would have over leveraged and probably blown the live accounts

                                I have also attached a report from fxcm when I was trading in their private client group,

                                I do know I had an account with fxopen but for the life of me I cannot seem to login to that e wallet thing, anyway that account had about 50k in it

                                I also ​can also provide an account from axitrader but I'm not going to as that was an account I used to follow nicks signals in the vip club, so it's not my trading, so it's not relevant​, it did generally ok, as it was always following nicks signals at low risk.​​

                                I hope the attached and above gives you more confidence in my strategy​,

                                ​I would also like to thank my 44 subscribers for the confidence in this strategy

                                Kind Regards,

                                Satang FX / minkw fxcm2.PNGgain cap.PNGfxcm1.PNG ​​​​​​​