Satang FX Signal/MAM - minkw

[gbguimaraes]

You can choose to open just new trades also.

[minkw]

You can choose to open just new trades also.

ah thanks I was not aware on how the receiver actually works

[minkw]

hey all,

looking at the aud nzd, we would have been out at BE if we held on, but dd rules would have been broken im really sorry about the loss for this month, currently its looks like its going to be about -1.75% loss,or perhaps a bit less,

I am going to aim for still 2-3% for next month

Kind Regards,

Satang FX / minkw

[interceptor]

Hi minkw,

Any concerns over the current usd/cad trades? I brought my concerns up when you first opened them but you were confident of the trades.

Thank you

[Xinvestor]

It could easily happen that another big loss will occur on current trades. That would mean a 3 month recovery provided another loss doesnt happen during that time. This is the danger of any averaging system. The chart looks great until it doesnt. At least this provider sticks to the rules and takes the hit like a man, not like 99.9% of other "traders" here. Respect;-)

[interceptor]

This would be the 3rd close to DD situation in a very short period of time. One in which we took the loss, the other went in our favor but came close.

Pretty sure minkw has it under control.

[Westie]

Yeah we're exposed to this CAD weakness on AUDCAD too.

It's been 400 pips since the last pullback on USDCAD, so it would seem we are due a correction. But who can predict.

[Big River Man]

Yeah we're exposed to this CAD weakness on AUDCAD too.

It's been 400 pips since the last pullback on USDCAD, so it would seem we are due a correction. But who can predict.

Jesus of Nazareth
Mohammed
Buddha
Krishna
Confucius
Moses
an of course Joseph Smith

[minkw]

This cad is move is unprecedented

I'm watching this carefully

[interceptor]

What's the plan going into the CAD interest rate decision tomorrow?

Concerned a big spike up could bring us to max DD.

[minkw]

Hey guys looks like the reversal is coming

cad rate usually results in whipping action in both directions, I've always made great pips on the rate news,

depending on price over the next few hours I will temporarily decide if I want to increase max dd to comply with the rate decision

[minkw]

Hey all, trumps been playing a menace with the cad, I've extended max dd to 6.5% across the master, until the end of the week, to give us some breathing space and let the markets relaxed and recover

the USA only imports about 16% from canada is steel and aluminium so the so called drastic tariffs are fake news as all previous tarrifs on steel and aluminuim have faiked in the past to help the domestic economy

[minkw]

Hi All,

nfp worked in our favor, with the weak numbers for the usd we should see a move lower on the usd cad, thats currently happening,

We also got out of the aud cad basket with profit and are in again, i will continue to short this to around .9966 as i foresee a stronger aud against the cad

dd is now minimal under 1% and i expect the usd cad positions to be closed in profit over the coming sessions, close for usd cad was 1.281 so we almost hit it, but not to worry im sure we will be out soon,

trump really screwed us, but with patients the markets came back, i will continue to short the usd cad to around 1.265

thank you for everyone for sticking around,

on another note to be honest i blew my account with the prop fund, as i exceeded the 4% max dd, it got terminated at 4.09% max dd, im not to happy about that as its the first live account that ive blown, i will need to re evaluate my risk settings as they have invited me to trade for them again, anyway for now im going to concentrate on the master and my subs/mam investors.

Kind Regards,

Satang FX / minkw

[Westie]

And we are out ! great job minkw !

I won't pretend this was not a pretty stressful week, I've been closely following the Trump trade war craziness - and the subsequent crazy CAD moves.

Obviously we were caught on the wrong side before that even started. I think USDCAD breached the 1.3000 point 3 times this week (where we approached 4% drawdown).

4% drawdown would not worry me, but of course we took the loss last month, so tacking another this month would have been tough.

Anyway, great job sticking in there and coping with the pressure. I very much appreciate the work your putting in.

Congrats

Westie

[minkw]

Thanks Westie,

Yes trump threw a spanner in the works, hard to trade with him being in office,

Yes we are out and in again, but at good levels, and no dd, i hope to make up last months losses,

also on another note, to all, i didnt actually blow the prop account, it just got terminated at 4.09% drawdown as i didnt have the fxblue receiver set up properly at the correct risk settings as with price over the last few weeks i didnt pay much attention to it until i received an email stating it was terminated due to max dd being exceeded.

anyway, on another note, their are heaps of prop funds that will let literally anyone trade for them, just google "forex prop trading" and they all come up, generally rule of thumb is, that you pay a once off fee of whatever and thats your max dd/loss, so basically they are at no risk in the event you exceed that amount, i think its a great option for people with low capital to be enable to trade with a large amount of funds under the condition that your trading is low risk and wont exceed the max dd, as all prop funds want low risk and steady returns,

for example,

you pay $5000 and want a $100,000.00 account, your max dd/loss is 5%(being the $5000 you paid), and if you profit your max dd/loss gets increased inline with your net gain, generally they are all quite good with the profit split as they are at no risk and most of them provide between a 80/20 split (80% to you) to 50/50 split of profits. however note this is not for everyone, as risk management and dd/loss are the key factors they look at.

anwyay, thanks to all and i hope to book some good profits for this month,

Kind Regards,

Satang FX / minkw