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Satang FX Signal/MAM - minkw

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  • minkw
    replied
    Thanks for your kind words ktyong

    the last time I had a losing month was December 2016, basicly before I even started offering signals, it was about 8%

    however this current loss hurts more as I have subs and mams and roughly know how much is following me

    I've pretty much have thrown in the towel in relation to attempting to break even this month, while it may be possible it's not worth the risk as I would need to dial up the activity and take on more risk, so for until further notice it will be a slow and controlled recovery

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  • ktyong
    replied
    I like that you stick to the rules. I will stay to enjoy the next equity high. Cheers.

    Sent from my MI 5C using Tapatalk

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  • minkw
    replied
    Ok so we are down roughly -2.3% for this month

    i expect to be at equity highs by the end of next month

    this is gut wrenching as I've personally lost a lot more that's not publicy viewable, and put at jepordy the prop fund as well

    if you want to unsubscribe I am willing to refund this months subscription, please pm me or email me at invest@satangfx.com with your PayPal email address

    again I'm really sorry for the loss,

    I'm in this for the long haul and I trade full-time so I hope you all still have confidence with me,

    I know exactly what went wrong with the and nzd basket, this pair tends to range and stagnates, then trends heavily in one direction, we were just on the wrong side,

    The fx markets as you know will range 80% of the time and this is where this strategy works best however we literally got caught and blown out of the water

    Perhaps I'm being to hard on myself but I feel absolutely terrible as it's been over 6 months since this has happened

    again I'm really sorry



    Leave a comment:


  • minkw
    replied
    Sorry guys, closed out with a loss a bit over 4%

    last time I did this was in August last year, trust me it hurts a lot, but its recoverable in 1-2 months,

    Again please accept my apologise,

    Leave a comment:


  • Westie
    replied
    It might still retrace, the 1.068 level found support before after all.

    Anyway, if it doesn't we just take the loss and move on right - it's exactly what the signal description says, and is why I signed up.

    Leave a comment:


  • muskokaman
    replied
    I'm disabling the signal temporarily if that's the case, I see a move down to the 1.05's coming, so I'll hedge your positions until we get that move and then ride the momentum upwards and eventually get out without the loss.

    Thanks for the update.
    Last edited by muskokaman; 02-21-2018, 01:27 PM.

    Leave a comment:


  • ales
    replied
    cheers man. got it.

    yeah, there is a risk of move to 1.0600 now.

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  • minkw
    replied
    Hi ales,

    The strategy has a few components to it, being range, trend continuation and loss recovery(bluntly averaging) some people don't like averaging however with controlling leverage and risk it's not an issue, currently we are about a bit over 1:2 leverage and 3% dd

    it looks for a target price and will buy or sell until the target is hit then re evaluates and looks for another target

    the aud nzd was initially range based being correct 1.08 then changed to loss recovery once it broke lower, strategy then changed by attempting to average out hence the fact I did not take profit several times on our latest entry

    we are in a bit of a sticky situation at the moment but will cut our loss at 4%dd reevaluate then move on, while I know 4% dd is not much, however recovery is a better path then letting dd get out of control,

    Leave a comment:


  • ales
    replied
    Yeah, you cant have it always right... thats completely normal.
    Looks like this 1.0800 was important lvl, nothing much down to 1.0600 now.

    Wonder what was your original thought / plan on this basket if you dont mind me asking?

    Leave a comment:


  • minkw
    replied
    Hey all this aud nzd basket looks like it's gone pear shaped,

    its ok I'm watching this closely

    been booking some decent pips on the and cad but I know this dd is more important if we make a leg lower will consider manually closing all a bit under 4%

    apologies to the recent subs I got in the last few weeks, however if we do close this basket out at a loss it will take between 1-2 months to recover

    Leave a comment:


  • Westie
    replied
    Brilliant, that's exactly what I was hoping you would say - as it's exactly what I would do too !

    I'm totally fed up with signals which hold onto losing positions for months on end, hedge or other rubbish.

    Leave a comment:


  • minkw
    replied
    Hi Westie,

    Its unlikely that 10-12 positions will be opened, as I will probably cut this basket before we reach the 5% max dd,

    If i feel we can exit with no loss before 4% i will let it run, but 4% is uncomfortable for me and I will probably cut close all on the aud nzd, the last time we were in this scenario was in august last year, im not afraid to take a loss, evaluate then move on, as this can easily be made up in one or two months, I know when im wrong and have accepted this with the aud nzd, however if we can get out of this mess at break even i will be happy,

    I just need to wait and see how price plays out when on Monday/Tuesday

    Im glad the signal has been profitable for you,

    Kind Regards,

    Satang FX / Min

    Leave a comment:


  • Westie
    replied
    Originally posted by minkw View Post
    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
    Hi got a question about the aud/nzd basket.

    We've got 7 positions open on that one now, in the signal description it says the basket will be a max of 10-12.

    I'm just thinking, if we're at 3% ish DD with 7 positions - won't you end up running into the 5% cap before then ?

    In any case, great signal. Only been with it since December, even if we hit the 5% Tomorrow I'll still be up 5%, which I think is phenomenal.

    Leave a comment:


  • minkw
    replied
    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 forex.com​.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 ​​​​​​​

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  • minkw
    replied
    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

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