SteadyCapture Discussion (Archived)

[BMM]

And BMM, good question about the synthetic hedges. I do not use CHF at all and always try to use the most liquid major pairs I can.

accordingly to myfx it seems that you traded CHF in the past, did you mean that you will never do a synthetic hedge with CHF?

Final question: Is your signal 100% ok for the many followers who disable all CHF pairs even considering the seldom use of syntetic hedging?

sorry for these questions but this is first time signal with syntetic hedging here, as far I know, so a little investigation is needed

[Neptune]

Thanks for the advice, I'll have you at 1x risk on an account with Viper then. Hopefully things continue to go well and I wish you all the best

[SteadyCapture]

Thanks for the comments and questions,

The MT4 results showing a higher number of trades than Zulu is because of greater use of partial closings / scaling out as well as higher activity from scalping / intraday trading.

The max DD on Zulu was subjective to each follower's own risk settings. The way I traded my own accounts had a max DD of just under 10% but if a Zulu follower wanted to do twice that they experienced 2x the return with 2x the DD.

I know it can be tempting to amp up trading ratios when looking at long term average draw down levels, but I don't recommend being too aggressive. I've seen it happen all too often that followers will become more aggressive as equity curve's ride highs and then exceeding their comfort levels when DD occurs or simultaneous DD occurs from multiple signal providers. This can shake their resolve to trust in their chosen manager's DD management. Everyone is free to make their own decisions of course but I'm convinced that the big money in this game is in patiently allowing compounding to do it's work. Compounding is almost like an invisible, silent partner in this game. It's very difficult to see when zooming into a single trade or single month but doing a quick paper calculation of what it can do over two or more years can be a real eye opener. At any rate, keeping your accounts safe and healthy enough to realize those benefits is something most followers would enjoy experiencing.

And BMM, good question about the synthetic hedges. I do not use CHF at all and always try to use the most liquid major pairs I can. The reason is because they typically are more efficient because of having tighter spreads. My only other concern is not choosing pairs that would conflict with likely trades in the 24 hours following a synthetic hedge entry. So each circumstance would be assessed independently. My method is to use two other pairs in the correct ratios. For example, using EUR/JPY and USD/JPY to create a long or short position in EUR/USD. The use of synthetic hedges is designed for the benefit of U.S. based followers. So if there is a broker common to U.S. followers here that adjusts leverage on any of the majors or major crosses (excluding CHF) please feel free to give a shout out here in the forums to help make sure I'm aware of it ahead of time. To give you an idea of frequency, I might use a synthetic hedge once or twice a year on average.

[Pianetti]

Hello, why master account is not updated every 5 minutes? In this way Myfxbook will not register the real DD.
Thank you.

[edwardopp]

Welcome SteadyCapture!

Looking forward to following your results. Would be helpful to see more trade history, other than the few months provided here.

A little confused over your ZuluTrade results that Nick referenced above. That ZuluTrade account did show three years of history, with a total of 775 trades. While the 2 month + history here: already 230 trades. Different trading strategy lately? Or maybe I'm missing something?

Thanks, and good luck!

[Waleed121]

Out of interest would 10x risk be something to consider if you planned to withdraw profits monthly (incase of a blown account years down the line)? 3% max drawdown x 10 = 30% drawdown... Probably too good to be true but if you are going to run high risk settings this seems to be the trader to do it with

I have a lot of money with Viper but may put a small amount (5k) with this trader.

Have you not seen ZuluTrade? The max DD was 10% over 4 years correct Jay?

Neptune at 10x you will be depleted. These risks are interesting and fun but at least do it so you avoid being blown up.

[Neptune]

Out of interest would 10x risk be something to consider if you planned to withdraw profits monthly (incase of a blown account years down the line)? 3% max drawdown x 10 = 30% drawdown... Probably too good to be true but if you are going to run high risk settings this seems to be the trader to do it with

I have a lot of money with Viper but may put a small amount (5k) with this trader.

[Daniel]

Nick.Are you following SC on VIP mix account? If yes,what is your risk setting?Thanks.

Yes, he does:

"FX Viper 1x Risk, Kilimanjaro 1x Risk, Smart2 0.5x Risk and SteadyCapture on 1x Risk."

http://www.myfxbook.com/members/NickMcDonald/forexsignalscom-vip-mix/1288009

[oandagut]

Great work today Jay, it's fantastic having you as part of the community here and I'm sure I speak for all the clients when I say thank you for your concise and up front communication over the past 24hrs.

I'm actually seeing a correlation between the way you write and the way you trade. It's purposeful, diligent and successful in it's intention.

For those that have an interest in the Zulutrade track record you can view it on this link: https://www.zulutrade.com/trader/97718

Nick.Are you following SC on VIP mix account? If yes,what is your risk setting?Thanks.

[BMM]

I'm used to having US followers so I employ the use of synthetic hedges in the rare cases I need to do it.

Welcome SC!

I suppose that with "synthetic hedges" you mean that you are going to use a combination of other pairs (*) to hedge a position instead that opening an inverse trade on the same pair

Of course it's ok and it is also the right workaround to hedge for US citizens but I would like to highlight the risk that you could hedge using pairs disabled by a follower (it's a feature of the copier used here) . In this case the follower will NOT be hedged because the trade on the other pair is skipped by the follower creating a big risk to the account

To be more specific I add that many of us don't copy CHF pairs after the disaster of beginning 2015 therefore in case you will use CHF pairs to syntetic hedge a position on EURUSD the result is that many of us will not be hedged at all on EURUSD!

Is it possible for you to state that you will syntetic hedge using always just a SET OF MAJOR PAIRS (i.e. crosses of EUR, GBP, AUD, NZD, CAD, USD ) that HAVE NOT to be disabled to follow you ?

If not, do you state that WE HAVE NOT TO DISABLE ANY PAIRS to let you to syntetic hedge as you prefer?

Thank you very much for clarify this point

(*) this tecnique http://www.forexfactory.com/showthread.php?t=380856 or http://www.forexfactory.com/showthread.php?t=279648

[Nick]

Great work today Jay, it's fantastic having you as part of the community here and I'm sure I speak for all the clients when I say thank you for your concise and up front communication over the past 24hrs.

I'm actually seeing a correlation between the way you write and the way you trade. It's purposeful, diligent and successful in it's intention.

For those that have an interest in the Zulutrade track record you can view it on this link: https://www.zulutrade.com/trader/97718

[SteadyCapture]

Closed trades in my history will generally appear to be in a tighter range of smaller trade sizes. This is because of my common practice of using partial closings and scaling out of positions. Actual trade sizes of full open positions will have a much larger range of trade sizes and I don't have a specific standard size for all trade entries, each one is assessed independently.

I have many different types of trades I will do on many different currency pairs in multiple time frames. The largest entry positions will tend to be the scalping trades that aren't open for very long.

[markymarc101]

Yes it is,, i signed up for it today

Will SC be available to VIP at no cost?

[David_AU]

Will SC be available to VIP at no cost?

[yabanda]

Hi SC. Is the lot sizes that you are using are your average that you will be using for your master account?