Satang FX Signal/MAM - minkw

[Westie]

Great work today ! Loving this signal !

[minkw]

hey all,

did well with cad data tonight, as you see i changed and went short against the aud cad and long on the usd cad, so basically a synthetic hedge, it worked well, however price at the moment staying long on the aud cad would have resulted in a better result, the reason for the change in direction for the aud cad was to manage risk, dd is still minimal

[yunais]

Hi,

I'm pleased to say that ive just subscribed to your signals.
I must say the main reason that i chose your signals was the support you have in this forum and how you post updates on current open trades.
This gave me the confidence that you actually care about your subs

keep up the good work!

[minkw]

Hi Yunais,

Thanks yes I saw your subscription come though several hours ago,

Some may say I spend a bit to much time worrying about my subs, as I like to keep people updated, especially when in drawdawn,

Also pity you didn't subscribe yesterday as we banked a great deal of pips on the boc hike, but not to worry many more pips in the pipeline!

Kind Regards,

Satang FX / minkw

[minkw]

Hi All,

Quick update and change in strategy,

As you can see we are booking pips and are doing well for this month, dd is still under 1% and exposure is minimal so nothing to be worried about,

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,

!!!!!!! However please note this does not mean you can think, "hey max dd is 5%, im going to run the signal at 3 x risk, so my max dd will only be 15%"

Running this signal anything over 1.5 x Risk is not recommended, I know for a fact that many people get turned off as they see the small lot sizes, however the strategy looks for entries on multiple time frames and 3 pairs, over time as you can see from the myfxbook we average 3% per month,

Hope the above makes sense,

Best Regards,

Satang FX / minkw

[Westie]

Congrats on getting the prop fund investor ! great news ! I think you deserve it with all the work you put in.

Just hope you continue offering the signal for us little guys

[minkw]

Hey Westie, thanks for being a subscriber, and anyone who has a sub will be honored so your fine,

right now i have 30 subs, so I plan to stop new subs at 50, as anything over that will not be manageable.

the reason mainly being lets say people are paying $75 per month, then Nick takes $15, and paypal takes a bit under $5, so thats $55, then I need to pay 40% tax to the ATO, so im left with $33, so as you can see its not much, i cannot hide my paypal account as Nick needs any providers to have a business account, and in Australia paypal reports to the ATO all my transactions. so i need to declare it, while yes i have deduction to offset tax, i still get hit hard with the ATO every year.

The main gripe I have is that I know of 4 subs that are have accounts over 500k, yet as above im only receiving $33 net per month. so you can understand where i am coming from, but its ok,as mentioned in my previous posts i trade for myself and not to attract subs.

The prop fund is going well and i am withing the guidelines, i really hope I can verify the account, as people tend to go ape shit if accounts are not verified,

Regards, Satang FX / minkw

[Big River Man]

The aim is to deliver a conservative return between 2% - 3% a month with draw-down below 20%, however a manual close at lesser draw-down is usually employed. It is recommended do not run this signal over 3 x risk, meaning that your draw-down will be up to a maximum of 60% at 3 x risk.

Its recommended to follow at 1.5 x Max Risk

Pairs Traded: AUD/USD, AUD/CAD, NZD/CAD, USD/CAD, AUD/NZD and occasionally other majors and minors

No Exotics, Commodities, Indices or Cryptocurrencies

Maximum number of open trades: 30, commonly 10-15

Our strategy involves both technical and fundamental analysis of currency markets that can result in trades in a variety of currency pairs. Time frames used are 1D/4H/1H/30M to determine the best entry, ranging from short term scalping that lasts a few seconds or minutes, up to the occasional trade that lasts over several weeks. The average trade duration is currently 24 hours (reported by Myfxbook) however this may change over time.

Trades are placed with the use of automated systems to avoid human error and risk management is active with professional oversight of all positions. Trades are a method of scaling into and out of positions.

If the original entry moves against us we use a basket of 10-12 positions to average out of the basket, in the event of draw-down the goal is to exit the basket at break even or a small profit, while we have been criticised by investors about not taking additional profit, we feel its better to take risk off the table, If we project that price is moving in the favorable direction of the basket, yes it will close at break/even or small profit but then re-enter one position or two positions with less exposure in the same direction in hopes to capitalise with the trend.

Does this need updating now? You mentioned 3 pairs few posts ago but the description sayd 20%DD and more pairs

500k. Very nice. I think if that prop fund wasn't verified it wouldn't really matter that much and your master is verified and it's got heaps of cash in it.

[minkw]

Hey BRM,

Thanks for that, I forgot that now I need to change the website, SimpleTrader, mql, signal start etc to update the strategy,

Yes 3 pairs only and max dd is now 5%

I won't make the prop account public until I can get it fully verified, as I've seen other providers get abused for not having myfxbook accounts verified, Yes I agree that the master is fully verified, however let me see how I go with myfxbook, I've been in contact with them just having issues as the mt4 server I login to does not match any broker, so I've asked if they can just call the "broker" under the server name

[saint023]

Hi Kevin,

Not a problem, also just replied to your email,

An option you may want to consider is the fxblue local trade copier, that's if both accounts are on the vps,

however you may encounter more slippage, because when I place an order it has to be executed/filled first before it gets sent to SimpleTrader and then onto you, then if you used the local trade copier, again the order needs to be executed/filled before it sends the order onto your seccond account,

some peope think that when a provider sends out an order it blasts it out to everyone at the same time but due to the above it doesn't, as in the event for some reason my trade didn't get executed and yours did, it would not be managed,

perhaps give it a go in the trial period to see if its worthwhile, as if the slippage is not as much you will need to do the calculations to see if it's worth paying an extra 75 per month,

while its pretty unconventional for a provider to turn down a potential extra subscription, my goals is not only to help people make money but try and save money as well if possible.

Hope that makes sense,

kind Regards

Satang FX / minkw

Thank you for the suggestion

I have considered using a trade copier previously, however I believe slippage would be an issue, hence I haven't tried it

[minkw]

Hi Kevin,

Not a problem and thanks for the double subscription,

As I know your financial situation, the extra $75 per month is nothing and you can probably claim this as a deduction,

Kind Regards,

Satang FX / minkw

[minkw]

Hi all quick update,

as you can see the aud nzd has been pushing below my latest entry, this is not a problem as its over extended, also pretty much same with the usd cad, i was able to book about 10 pips before it broke lower,

On the technical side we should see a good several over the next few sessions, so i will scale out or maybe average out, but lets see how the market performs

The aud cad has been range playing so im not to worried yet, yes we are 100 pips from the original entry however I do expect this basket to be profitable in the long run

dd is a bit over 1% so im not worried,

Best Regards,

Satang FX / minkw

[interceptor]

Sent you a PM. Need help with your subscription. Paypal issues!

[fiveninefish]

Just hopped on board yesterday after observing for a while. I like your steady, measured approach and detailed communication. I get enough explosive hype and crash with other signals, so I am very much looking forward to balancing out my portfolio with your system.

[minkw]

Hi interceptor,

Yes please check PM,

fiveninefish, welcome on board, yes this strategy generally does not attract much attention, as its generally low risk and only generates 2-3% per month, and I reccomend max risk you run is 1.5%

To everyone else,

We banked some good pips recently and the master is a bit under 1.5% dd, I dont see this as an issue, the aud nzd train seems to have plateaued, the aud cad we actually would have been out of this yesterday however I choose to tp as I project a decent move lower, the usd cad latest position was set tp at 42 pip, so yes it was annoying that we missed out on the additional profit and now price is breaking lower,

I expect she should be out aud nzd at least by the end of the week,

Kind Regards,

Satang FX / minkw