SteadyCapture Discussion (Archived)

[Nick]

Jay, that AUDNZD trade shortly after NFP was bloody brilliant!

You jumped in, price spiked 40 pips, kissed your take profit and then immediately reversed.

Can I ask what you saw in the market that made you get into that trade? AUDNZD isn't usually a pair that's on the radar during a major US news release.

[SteadyCapture]

Hi Nick, Thx

I liked that pair at the time because it took the USD strength/weakness out of the picture. I often watch co-relation levels on pairs that trade similarly in risk off/on situations and that's what caused me to see an opportunity there.

As far as it just kissing the TP, I use volume profiling and S/R to determine those levels. What can I say -- sometimes you get lucky

[littlemax]

Hi Nick,
Is your 2x SC account http://www.myfxbook.com/members/Nick...x-risk/1307966 still running at actual 2x or have you adjusted for aud or changed the risk? Your lot sizes seem a bit small for 2x (not adjusting for aud that is) the audnzd trades would be 0.05 for 2x unadjusted based on balance. Maybe you have it set for a higher aud value perhaps?

[Nick]

Hi Nick,
Is your 2x SC account http://www.myfxbook.com/members/Nick...x-risk/1307966 still running at actual 2x or have you adjusted for aud or changed the risk? Your lot sizes seem a bit small for 2x (not adjusting for aud that is) the audnzd trades would be 0.05 for 2x unadjusted based on balance. Maybe you have it set for a higher aud value perhaps?

Hi Littlemax,

It's 2x risk adjusted for AUD. So it's a true 2x risk.

[robertfx]

really nice work steady - not just on anz but on this whole basket. all we have left is one open gj and from what i've seen thus far, you will find a way to get us out of that profitably at some point. you have made 14.25% for me at 1.5x since 1/1/16 - you just might be a keeper for me thanks, rfx

Hi Nick, Thx

I liked that pair at the time because it took the USD strength/weakness out of the picture. I often watch co-relation levels on pairs that trade similarly in risk off/on situations and that's what caused me to see an opportunity there.

As far as it just kissing the TP, I use volume profiling and S/R to determine those levels. What can I say -- sometimes you get lucky

[SteadyCapture]

Thanks, appreciated.

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Depending on how things go I think it's worth mentioning that new followers should go ahead and disable GBP/JPY, GBP/USD and USD/JPY from copying for the time being until I give the all clear. This applies to any follower accounts that do not still have the leftover GBP/JPY trade from January that was originally entered around 173.47.

There's obviously been a lot of movement since and because some of my trades are synthetic hedges they would not be appropriate for accounts without the original position. It could potentially add some unwanted DD that earlier followers would not have.

[Sherif]

Thanks, appreciated.

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Depending on how things go I think it's worth mentioning that new followers should go ahead and disable GBP/JPY, GBP/USD and USD/JPY from copying for the time being until I give the all clear. This applies to any follower accounts that do not still have the leftover GBP/JPY trade from January that was originally entered around 173.47.

There's obviously been a lot of movement since and because some of my trades are synthetic hedges they would not be appropriate for accounts without the original position. It could potentially add some unwanted DD that earlier followers would not have.

Unique style ... proper money management so far ...
Nice ... and hope it continues

Sent from my SM-G900H using Tapatalk

[taruh]

Hi SC. Your last two short trades on GBPUSD and USDJPY were not copied to my account because my VPS had disconnected from my broker's server. My VPS is now sorted out but the two trades are now "out of range" (basically meaning they are well in profit). Are these trades part of the synthetic hedge with GBPJPY? Do I need to open them at my end?

Oh and btw I'm really impressed with your trading despite a rocky start. Going back, I had subscribed to your signal even before Nick announced and introduced you to the Forexsignals community. And recently I opened another bigger account to follow you. Keep up the awesome work.

EDIT: Market reversed and filled me on both missed trades.

Sent from my SM-G920F using Tapatalk

[SteadyCapture]

Thanks guys.

Hi Taruh. Yes I'm partially hedged again and you should be OK. The Master account is overall currently net long GBP/JPY and will benefit from a bigger pop. I'm expecting more volatility going into Monday as the Chinese markets were on holiday this week and so have prepared accordingly. The larger your account the more accurate the results should be. In this case it's the smaller accounts that may get inaccuracies in the trade ratios because of rounding up/down, an unfortunate side effect of the Master trading smaller lot sizes as a necessary response to the huge ranges and volatility.

As of this posting we are now within 0.5% on an equity basis from erasing the full effects of the January GBP/JPY DD, leaving the whole position nicely profitable. With a few favourable moves in the next week I hope to be equity positive or very close.

[BillHuppert]

Depending on how things go I think it's worth mentioning that new followers should go ahead and disable GBP/JPY, GBP/USD and USD/JPY from copying for the time being until I give the all clear. This applies to any follower accounts that do not still have the leftover GBP/JPY trade from January that was originally entered around 173.47.

Thanks for the tip.

I closed the two new hedge positions this morning (both in profit) as I do not have the GBPJPY position.
I have also disabled all three pairs until further notice.

Thanks for keeping us updated.

[robertfx]

hi steady,
any chance we can get a rough sketch/update on plan/trajectory? still making nice $$ but am wondering about GJ dd and how we get out of it.
thanks much, rfx

[Gunther]

SteadyCapture is here!

SC,

what is your plan with the GBPJPY positions as you have added a further 3 this week do you see it go higher.

Thanks for the pips this year


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[SteadyCapture]

Hello,

The GBP/JPY position is a trade I'm not rushing at this point and the significant moves are something the Master Account is prepared for. As it continues my actions will be in appropriate sizes.

The market has been pricing in a Brexit possibility with the overall chances currently coming in at less than 50%. As it appears that the final decision is not until June, there will be many market movements and retracements in the meantime. As an example, the Scottish referendum produced good moves both ways as polls came and went. Clearly some big moves here but as this is a volatility type play, action like this should continue to create ways to play it which I'm watching closely.

[robertfx]

hi steady,
just checking in with you to see if one of the audcad trades that got closed on my platform yesterday was a mistake or if it was strategic on your part? not saying it was good or bad move just need to know if it was intentional or if there was a problem w/my platform or vps. keep up the steady work, thanks, rfx

[SteadyCapture]

Hi robertfx,

Yes there were closed AUD/CAD trades all 3 days this week (EST). I had to be a little strategic with it because of so many pending Aussie news releases but the snapback potential was clearly there.