SteadyCapture Discussion (Archived)

[leon33]

ATC Brokers US have a workaround for US customers. They use FXCM US for account management but have their own portal. The only potential problem is min trade size of 5 micro lots (5k), which caused me a minor headache when SC was doing synthetic hedging in and out with smaller lot sizes

[Zander]

Thanks Leon, I will look into it

[idempotent]

So I can breathe easier now. Glad we're flat.

I just started following SteadyCapture, but I stuffed up the account copying settings and ended up with a few trades at 0.5 lots rather than 0.5 x risk. This ended up being about 10x the risk I wanted.

So another lesson to learn: don't configure account copying systems when tired.

[Nick]

Jay, Congratulations on getting back above water!

It's awesome to see our patience pay off and for the losses from earlier in the year be fully recovered.

Onwards and upwards from here!

[oandagut]

1% recovery still left :P

[SteadyCapture]

Thanks Nick, nice to see your follower account back at highs.

I'm enjoying working with you and being a part of the ForexSignals team, coming here I think has brought me to a good place for my trading.

In the 12 months or so before I came here I was very focused on business matters and structuring things differently, launching my website, micro-managing, etc. I'm glad that experience is behind me. Now I'm back to where I like to be, focused on trading and maintaining a good rhythm. I'm really getting into it and it's been a positive process. I think things are well setup now for future growth.

------------------------------

Kind of a consolidation type action with fewer opportunities this week, but I'm sure there'll be plenty of trades to come before the end of the year.

Cheers,

SC

[ales]

Just a quick question and i believe it must be stated somewhere as well ... is there any hard stop (maximum DD) set up for all traders (Steady, Smart, Kilimanjaro) with ForexSignals?

Thanks very much.

[Nick]

Just a quick question and i believe it must be stated somewhere as well ... is there any hard stop (maximum DD) set up for all traders (Steady, Smart, Kilimanjaro) with ForexSignals?

Thanks very much.

The absolute worst case scenario is 30%, however his largest drawdown in almost 4 years is only a touch over 10%

Smart is 25% and Kilimanjaro is 10%

[ales]

The absolute worst case scenario is 30%, however his largest drawdown in almost 4 years is only a touch over 10%

Smart is 25% and Kilimanjaro is 10%

Cheers Nick. Thanks for claryfying...

[Big River Man]

Hi steady do you think it's quite risky to have CHF position open with only 12 hours to go until Draghi has a massive press conference?....do you plan to keep adding if GBP CHF moves against you?

[Big River Man]

Hey Nick. I'm just a little concerned about the trading over last couple of days, seems super risky? We could of closed in a small profit just 10 seconds or so before solid NFP. I mean by the time you read this it might have all closed in profit but look I do not want to doubt the trader at all. But can I ask from your experience with Jay is this how he normally trades? I am really surprised to see these big plays coming during after and in and around news. Anyway like I said I hope this EU large long especially works out but it was in profit twice I just want to check in that this was "normal" and historical. If so great then continue on, if not then I'd like to know as this type of trading is so alien to me. But hey whatever makes the pips! But I don't want to take undue risk to get it, just surprised to see Steady Capture using such chaotic events.

[SteadyCapture]

Hey Guys,

I can appreciate the concerns and sorry for the delay, I've been pretty busy.

Counting down to the ECB meeting I was simply relying on the fact of there being tradeable volatility leading up to it. I actually had multiple small positions at the time benefiting from moves in either direction... GBP strength/weakness, CHF/EUR strength/weakness so I wasn't worried. It wasn't an arbitrary decision, they seemed compelling opportunities to me. Unfortunately there was a leaked false news report going into the event that threw things off and I decided to de-risk a little. Once the real news hit I wanted to increase my TP accordingly but things were happening so fast that I only had seconds to react and the position had already closed at the smaller TP. Because of it that move wasn't a real money maker but led to some really nice setups that I was able to capitalize on the next day.

Going into Friday's NFP again I wasn't worried because of the sheer magnitude of Thursday's action and volumes. According to Fed funds rate futures the market had already priced in a rate hike, so the bigger (and unexpected) moves of Thursday's ECB inspired action was more compelling to me. I viewed Friday's NFP as an action inducing manageable event in this case. Depending on circumstances though I will more often be flat going into big news.

The current open positions will be wound down next week.

Cheers,

SC

[Big River Man]

Hey Guys,

I can appreciate the concerns and sorry for the delay, I've been pretty busy.

Counting down to the ECB meeting I was simply relying on the fact of there being tradeable volatility leading up to it. I actually had multiple small positions at the time benefiting from moves in either direction... GBP strength/weakness, CHF/EUR strength/weakness so I wasn't worried. It wasn't an arbitrary decision, they seemed compelling opportunities to me. Unfortunately there was a leaked false news report going into the event that threw things off and I decided to de-risk a little. Once the real news hit I wanted to increase my TP accordingly but things were happening so fast that I only had seconds to react and the position had already closed at the smaller TP. Because of it that move wasn't a real money maker but led to some really nice setups that I was able to capitalize on the next day.

Going into Friday's NFP again I wasn't worried because of the sheer magnitude of Thursday's action and volumes. According to Fed funds rate futures the market had already priced in a rate hike, so the bigger (and unexpected) moves of Thursday's ECB inspired action was more compelling to me. I viewed Friday's NFP as an action inducing manageable event in this case. Depending on circumstances though I will more often be flat going into big news.

The current open positions will be wound down next week.

Cheers,

SC

Thanks for the response it's really good to hear the thought processes behind the trading. Makes me feel a lot more comfortable to hear tbh. That financial Times release was a real doozy. Keep up the good work and Thank you.

[Nick]

Hey Nick. I'm just a little concerned about the trading over last couple of days, seems super risky? We could of closed in a small profit just 10 seconds or so before solid NFP. I mean by the time you read this it might have all closed in profit but look I do not want to doubt the trader at all. But can I ask from your experience with Jay is this how he normally trades? I am really surprised to see these big plays coming during after and in and around news. Anyway like I said I hope this EU large long especially works out but it was in profit twice I just want to check in that this was "normal" and historical. If so great then continue on, if not then I'd like to know as this type of trading is so alien to me. But hey whatever makes the pips! But I don't want to take undue risk to get it, just surprised to see Steady Capture using such chaotic events.

BRM,

I've seen Jay trade in this fashion a couple of times after a big move as he looks for a small continuation of it.

From my observation, when he sees a very high probability setup, like the current EURUSD long, he'll go in hard. If it moves against him he'll average out of it.

It normally works without stress as the position pumps through the TP within an hour, these kinds of trades make the difference between a 1-2% monthly gain and a 5%+

I know it can be a bit of a surprise after a month or more of relatively conservative trading using consistent lot sizing, but I can tell you the guy is cool as a cucumber in these situations and doesn't take these setups lightly. The stars really do need to align perfectly and in the event it doesn't work as planned, he works his way out of it.

[phillipnaz]

Hi Nick how you doing. Did you have a good weekend.

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