Announcement

Collapse
No announcement yet.

SteadyCapture Discussion (Archived)

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Originally posted by alazarus View Post
    This trading strategy is starting to look a lot like a manual grid/martingale system. I hope SC can get out of the basket - hopefully we see a short term rebound on AUD/NZD.

    I dislike the fact that trades are placed so close to one another - in a pair like AUD/NZD which can typically extend RSI's in one direction for 200-400 pips in one direction this seems like a recipe for a heavy drawdown.
    Yes it's tough isn't it!!! Looks like I didn't go deep enough into the history to see what to expect. If this is normal then it's fine...., is it normal Nick/Jay? If it's business as usual no worries. But trust me to start last week to cop the euro long scalp and now this. The move in gold today has messed with this pair. Surprised that we just went so heavy long again. Oh well hopefully it turns around and we can get out. But I'm gonna turn down my risk afterwards!! Hehe.

    Comment


    • Didn't like it right from the start. I cut it loose and manual trading out.... Yep. Risk will be going down even further now....


      Sent from my iPhone using Tapatalk

      Comment


      • Wow its really a shit luck I have with signal providers.

        Comment


        • Been through too many jokers to be seeing this sort of trading style turn into a mess AGAIN!


          Sent from my iPhone using Tapatalk

          Comment


          • Excuse the ignorance steady capture. But I've been burnt too many times....


            Sent from my iPhone using Tapatalk

            Comment


            • Originally posted by Vondon15 View Post
              Been through too many jokers to be seeing this sort of trading style turn into a mess AGAIN!


              Sent from my iPhone using Tapatalk
              Read the first post by Nick. You shouldn't be surprised. You gotta do your own due diligence mate. If your not expecting this then why did you subscribe? No one likes to be in drawdown. No me not you not Jay. But you should try to be more supportive. If you didn't expect this at all then it's your own fault. Let's be honest.

              Comment


              • Originally posted by Vondon15 View Post
                Excuse the ignorance steady capture. But I've been burnt too many times....


                Sent from my iPhone using Tapatalk
                Same.It burns

                Comment


                • His max DD on risk 1 is 30% - major resistance is at 1.10. Stop loss on trades are around 1.1160.

                  Strong bearish momentum on 1hr chart - might have to brace for impact - I notice from his trading history this is the first time he is trading AUD/NZD. I don't think his strategy is applicable to the strong swings typically seen in AUD/NZD.
                  Last edited by alazarus; 07-20-2015, 06:07 AM.

                  Comment


                  • I'm about to jump on a call with him.

                    He's got stop levels in place on each trade, so you can see what the worst case scenario is. The reason for this spike on NZD is the Prime Minister made a comment about the speed of the recent drop being higher than expected.
                    Click here to check out the most popular forex channel on YouTube

                    Comment


                    • Hey guys,

                      I just wrapped up a call with Jay where we discussed the current situation.

                      He's frustrated and feels bad to have put us in this position, however he's still confident of a turn around in this basket of trades based on some strong fundamental indicators.

                      Over the next two days there are a couple of news announcements on the AUD and NZD that may dictate the fate of the entire basket. He's made it clear that he's got no interest in holding onto it indefinitely, so if news goes a against us heavily he'd rather close out.

                      While frustrated, he's composure is completely level. I'm not concerned about his ability to handle the drawdown, he has a plan in place and is watching the market like a hawk.
                      Click here to check out the most popular forex channel on YouTube

                      Comment


                      • To those currently following:

                        Unless you rarely check your account you are likely feeling very concerned about the AUD/NZD open position. It has my full attention and concern as well. I haven't been in a trade quite like this for some time but I'm recognizing similarities to behavior I've noticed in previous months around holidays when volumes are lower, enabling it to stretch out against a lot of favorable factors. It's possible that significant numbers of market participants have chosen to vacation after 'Grexit' was off the table because I'm noticing things that I've only seen in lower volume holidays.

                        If I am forced to protect capital there will be no scaling out, it will be a one time decision with all positions being closed. Everything I'm looking at is telling me to buy here and hold for a significant rally, however there is now pending Australia news coming up in the next few days which has the potential to force my hand.

                        I hate allowing drawdown that is beyond what I feel is reasonable to recover within 3 months or less but this one is becoming a real test. I assure you there are many favorable factors in play for NZD weakness to resolve itself and I'll put myself in position to capture it if at all possible. What I will not do is ride this thing to hell and back - I have limits.

                        I apologize for the current DD but remain confident and committed to the long term protection and growth of client capital as I have been for the last 4 years.

                        Comment


                        • Thanks for the update Nick. I have bailed. There is too many big news events over the next few days.

                          With being AUD account with risk 1x I have taken a 12.5% loss. I am really going have to reassess my future.

                          More than likely everyone will be fine but even with a so called plan, forex is a risky business. Look at day fox. He hedged and got into a position he couldn't make a move either way. Now I minimise my risk.

                          If it was not for big news events I may of held longer.

                          Good luck all.

                          Sent from my SM-G900I using Tapatalk

                          Comment


                          • Originally posted by dazz1975 View Post
                            Thanks for the update Nick. I have bailed. There is too many big news events over the next few days.

                            With being AUD account with risk 1x I have taken a 12.5% loss. I am really going have to reassess my future.

                            More than likely everyone will be fine but even with a so called plan, forex is a risky business. Look at day fox. He hedged and got into a position he couldn't make a move either way. Now I minimise my risk.

                            If it was not for big news events I may of held longer.

                            Good luck all.

                            Sent from my SM-G900I using Tapatalk
                            Hi Dazz,

                            I think it's unfair to compare this to dayfox. Jay has put a line in the sand, if we cross it then all positions will be closed, if things improve then we'll get out without a major loss.
                            Click here to check out the most popular forex channel on YouTube

                            Comment


                            • Fair call Nick. I worded that badly. I mean sometimes even plans don't work. If you bail out of a losing position completely like Jay is doing it is fine.

                              Before he posted I thought your post meant that he my add different positions. That is what day fox done and it destroyed him.

                              I did not read your post correctly. I skimmed across it. It is fair you called me out on this. Sorry

                              Sent from my SM-G900I using Tapatalk
                              Last edited by dazz1975; 07-20-2015, 07:21 AM.

                              Comment


                              • Hi Nick,

                                My MT4 terminal or myfxbook doesn't show any stop levels shown for any of his trades. Should I be concerned. I can see the stop levels on your SC account in your myfxbook link.

                                Thanks,
                                Kevin

                                Originally posted by Nick View Post
                                I'm about to jump on a call with him.

                                He's got stop levels in place on each trade, so you can see what the worst case scenario is. The reason for this spike on NZD is the Prime Minister made a comment about the speed of the recent drop being higher than expected.

                                Comment

                                Working...
                                X