Who should be the "next" Steady Capture?

[ccjhuang]

Yes and I think the following illustrates the point - take these two accounts for example:

Account 1:
E5034789-185C-4180-950D-C3C8456388D9.jpeg

Account 2:
84C1783B-A99E-481C-AF9B-6246BC8EBB5B.jpeg

[Xinvestor]

I was thinking the same thing. They have the DD going just to keep the investors. Its much harder mentally to exit a PAMM when just equity is in DD than when balance goes down even though its much worse. Its an old rule better to be flat than in a bad trade....

[ccjhuang]

Let me get this straight. You have/had a floating DD for 2 years and you still trust this trader after what happened this week and will keep him to manage your funds?

[Xinvestor]

I am Viper sub...yes we took a hit today...yes it was not good indeed...but it easy to speak later. I do not mind, I know Jeff will never put in danger my account. He is a tough guy, after all these years a hit is ok...I am still up overall and nobody can make money every year. I personally told Jeff to delete the account because it is not fair to show all the trades. I am sure Viper will put all energy to recover. Cheers, Gianca

Let me get this straight. You have/had a floating DD for 2 years and you still trust this trader after what happened this week and will keep him to manage your funds?

[Xinvestor]

Just emotionally, flippantly throwing out a signal service after 5 losing trades or a 2 month losing streak might be the worst thing to do.
And I actually find this happens more often than not. People getting jumpy after a 10 or 15% drawdown, and then at least with systems that can produce more significant gains in good times, the recovery will be lost if you divest.
This, of course, goes both ways, so sometimes it's important to divest at the right time when you think a strategy is starting to fail terminally.

10 or 15% DD might not bad if the trader is making 3-5% monthly. It is a problem however if the avg monthly profit is 1%. You are throwing around these numbers without any context. I gladly take 10% DD if I know realistically I can make it back in 2-3 months but I would not be willing to wait for a year.

Besides, why would anyone want to invest in systems that make 15% one month and lose 10% the next? Those spikes make me think twice about a system. I prefer to have steady returns month to month to extreme highs and lows like so many traders seem to base their systems on.

[OutsideTheBoxHK]

Hey All,

Thanks for the mention, thanks but no thanks, my plate is full at the moment, I have about 40 subs 20 private clients and 2 prop/allocation accounts, also Nick has not approached me, even if he did its currently not an opportunity I would currently look into as I am a one band man.

__

I have mentioned this before and am quite clear in relation to the strategy, yes I average in and out of positions. sometimes scale out, the reason being no one can pick the correct entry 100% all the time, so I break down the positions down, the strategy is 90% range and 10% trend continuation, the markets have been hard to read for the last few months and this has resulted in dd, I am about 4% dd and confident I can navigate out.

I personally dont think their is anything wrong with averaging, as long as risk and leverage is taken into consideration,

I really dont want to say this(as been contemplating if I should state the following for the last few hours, as its the weekend) but I think SC/Jays post are not what people want to hear, we can all read between the lines, and what everyone wants its just a simple and straightforward answer, I do read all of SC/Jays post but he sugar coats everything, well more perhaps in a professional technical manner, I honestly cannot believe I just stated the prior, as rule of thumb providers should not negativity comment on other providers, on the flip side, he probably has to as he is the main trader behind FS/Thinkhuge an needs to portray a professional approach,

SC/Jay I am really sorry about what I just stated and hope you can understand, no hard feelings.

On a personal note I am sorry to hear about the losses investors have endured with SC/Jay over the last few months, I have the upmost respect for him and can understand the pressure he must be under, trust me I know.

Anyway I think I am venting a bit as its the weekend and ive had a few drinks, after-all we are all humans and we will make mistakes,

Oh, also on another note I have received the first round of allocation from AxiTrader in their Select program, will get around to getting it verified on myfxbook next week some time,

Kind Regards,

Satang FX / Min

I enjoyed reading this post, from a pretty good signal provider. Hi Min, my name is Greg. I've been working hard to improve as a trader too over the past 14 months keeping tabs of my performance on MyFXBook and watching videos, doing technical analysis, reading forums, and trading for myself.

https://www.youtube.com/watch?v=SNry36PAypE (new link I forgot to post in the first draft of this comment)

I thought this video by Andrew Lockwood of ForexSignals is worth emphasizing, because he mentions some very important DO's and DONT's with making money with Forex Signal / Trade Copying. The biggest reminder and key issue is that Copiers must keep engaged, participate in the management of risk along the way (especially during drawdowns), and they must understand that there are down times for every strategy and also every trader.
He reiterates this on the video, and I sure wish retail investors kept up their end of the bargain, stopped blatantly blaming a trader, and accepted their part of the responsibility.
Trust in Signal Services comes from ...... shouldering this responsibility.... analysis and getting to know a trading system / trader. What's behind the scenes with a strategy, so when the bad times come, you can ride out the drawdown period and recover losses without giving up too soon. I think SC performance was good, but the strategy is clearly damaged now and not performing. FXStat and FXBlue do a great job of breaking down and analyzing a system's performance in many different perspectives: https://www.fxstat.com/en/performanc...-Account-84720

https://www.fxblue.com/users/outsidetheboxhk

How much of equity / profits need to disappear before investors / providers stop trading or investing in a certain system?
How does it perform in volatile periods?
What is the maximum acceptable drawdown?
What would you expect the maximum number of consecutive gainers / losers to be given the past performance?
What is the point when most losing trades have not recovered from a drawdown? Maximum Adverse Excursion (MAE/MFE)

Just emotionally, flippantly throwing out a signal service after 5 losing trades or a 2 month losing streak might be the worst thing to do.
And I actually find this happens more often than not. People getting jumpy after a 10 or 15% drawdown, and then at least with systems that can produce more significant gains in good times, the recovery will be lost if you divest.
This, of course, goes both ways, so sometimes it's important to divest at the right time when you think a strategy is starting to fail terminally.

[Waleed121]

hedging is always a cop out, ooops its gone against me i better hedge and keep it save.

problem is when to release the hedge, that can never be timed right and so its kept forever.

best trading bar none is still with the predominant trend, no grid, no marti, no counter. only one i know doing that is thales and he will be very very successful long term since he uses pa as well.

its my method as well, the trend is your friend and always will be.

Thats exactly what im learning to do in my own trading by following the overall market trend and using false moves and breakouts for continuations, why else am i going to dictate where the market will go, follow what it does.

[ccjhuang]

FX viper removes his myfxbook link after 4 years...+ Sorry to hijack the thread with offtopic. SC did overtake Viper nonetheless...

For now this one is still going. https://www.myfxbook.com/members/IFG...yDOXyZlYBnxxTG Not very pretty!

I should add that I did make some good money from him in his early days.

Cheers,
Rod

42FDB49C-4C9A-4B8C-B2AE-7D4A8E462153.jpeg

[Waleed121]

I am Viper sub...yes we took a hit today...yes it was not good indeed...but it easy to speak later. I do not mind, I know Jeff will never put in danger my account. He is a tough guy, after all these years a hit is ok...I am still up overall and nobody can make money every year. I personally told Jeff to delete the account because it is not fair to show all the trades. I am sure Viper will put all energy to recover. Cheers, Gianca

So he took a hit today? something like 13-14% DD on master, so if you are running 2x master thats 28% DD, ouch. considering his returns are a mere 0.30% a month lol... youll be looking at probably 1.5 years atleast before your back to break even and a few odd white hairs through the patience and long stretch...... Being in a basket of EURO shorts when it could have been easily removed by the hedges makes me believe he did not know what he was doing... Still I respect the guy for his stamina in the markets and his patience, true genius at that for sure.

[reinerh]

It's just crazy, also EU on a downturn downtrend, as you can see from Daily but he wont even collect those buy orders which can be used to remove some DD, very strange weird way of trading I can assure you that. trades going 300-400 pips away from entry, i mean thats cool anyone can open a trade 0.15 lots on a 250k USD account and hold and wait. That sucks, not here for those minimal gains, lifes too short. Would hate to be a sub or MAMM customer and to heck with me investing 1 MIL.

hedging is always a cop out, ooops its gone against me i better hedge and keep it save.

problem is when to release the hedge, that can never be timed right and so its kept forever.

best trading bar none is still with the predominant trend, no grid, no marti, no counter. only one i know doing that is thales and he will be very very successful long term since he uses pa as well.

its my method as well, the trend is your friend and always will be.

[Kavka]

I am Viper sub...yes we took a hit today...yes it was not good indeed...but it easy to speak later. I do not mind, I know Jeff will never put in danger my account. He is a tough guy, after all these years a hit is ok...I am still up overall and nobody can make money every year. I personally told Jeff to delete the account because it is not fair to show all the trades. I am sure Viper will put all energy to recover. Cheers, Gianca

He is soon out of business ,!!!, I think Viper have he most slowly suicide in the forex world ...

[GiancaFutures]

I am Viper sub...yes we took a hit today...yes it was not good indeed...but it easy to speak later. I do not mind, I know Jeff will never put in danger my account. He is a tough guy, after all these years a hit is ok...I am still up overall and nobody can make money every year. I personally told Jeff to delete the account because it is not fair to show all the trades. I am sure Viper will put all energy to recover. Cheers, Gianca

[Waleed121]

For now this one is still going. https://www.myfxbook.com/members/IFG...yDOXyZlYBnxxTG Not very pretty!

I should add that I did make some good money from him in his early days.

Cheers,
Rod

He may of closed all the trades but then again those trades are still present on the other account, one thing i noticed is that he closed trades in Early this year only to go back in AGAINST the trend, no idea why that kind of trading is so great to him and his mentor. Even though he was making money.

[primi]

It was insane what he was doing. At least he could have used positive trades from the hedge to reduce overall size of open trades to reduce costs. It's not like he was just waiting to unhedge at some opportune moment, he was hedged for good. And now I'm pretty sure GBP hit him hard and overall USD strength likely as well. Say what you want but Steady was an improvement over Viper. Both had weak points though.

[nwboater]

FX viper removes his myfxbook link after 4 years...+ Sorry to hijack the thread with offtopic. SC did overtake Viper nonetheless...

For now this one is still going. https://www.myfxbook.com/members/IFG...yDOXyZlYBnxxTG Not very pretty!

I should add that I did make some good money from him in his early days.

Cheers,
Rod