Announcement

Collapse
No announcement yet.

SteadyCapture Discussion

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

  • Originally posted by Nick View Post
    Dazz & Chubby,

    I appreciate the frustration. I'm reluctant to say "this time it's different".... but.... this time it's different.

    I'm doing an audio interview with Jay shortly where I'll pose your unfiltered questions directly to him so you can judge for yourself.

    Thanks Nick. Like I said sorry about the harsh comments but to make a one or two percent a month and get into such much strife is ridiculous. I don't want to hear this, that and the other about bonds and equities and interest rates. We need a trading plan. Foreign exchange does not always align with other financial markers. We need the details that matter such as drawdown, risk management, exit strategy and bias. Nothing else matters.

    Comment


    • Looking at the myfxbook graph, a big drop similar to this one happened in July 2015. The drawdown now is only slighly higer than back then, so i don't quite understand why many of you are panicking. Just one look at myfxbook and you could've known that this scenario can happen again.

      Comment


      • Originally posted by Amadorian View Post
        Looking at the myfxbook graph, a big drop similar to this one happened in July 2015. The drawdown now is only slighly higer than back then, so i don't quite understand why many of you are panicking. Just one look at myfxbook and you could've known that this scenario can happen again.
        Not panicking. The frustration of risk management. If someone is making 5% a month and once a year has a 20% drawdown then that would be acceptable but to make only 1-2 percent a month and have a drawdown of 12-15 percent once a year then that in my mind is poor risk management. I am not panicking. I have plenty of equity left but to lose so much money from one trade idea is unacceptable to me.
        Last edited by dazz1975; 02-07-2018, 09:12 AM.

        Comment


        • Originally posted by Amadorian View Post
          Looking at the myfxbook graph, a big drop similar to this one happened in July 2015. The drawdown now is only slighly higer than back then, so i don't quite understand why many of you are panicking. Just one look at myfxbook and you could've known that this scenario can happen again.
          As dazz1975 said, no panicking just frustration. We have all invested understanding this risk of potential loss, we just want to know the plan/risk management etc going forward so everyone can make decisions which is right for them.

          Comment


          • Originally posted by Big River Man

            Nothing is clear. Nothing. If it were then we would all be making money and no one would need a professional to help them and no one would lose except that's actually not possible as for us to win someone else has to lose. So nothing is clear (until after the fact - but what's the point in that)
            The point is (assuming Jay *is* a professional trader):
            - if market not clear, why such big overshoot in this basket?! There was no initial reason for the first big long. Basically we committed too much money with first trade
            - if on the contrary market is clear, why hedging with shorth and opening the issue? And Iím not commenting hedge vs stop loss
            - after hedge, why not using swipes to reduce risk? We kept adding to lose position
            - what was the idea on dollar? We opened new trades gbp and aud in opposite direction last week, adding loss on aud to the bad hedge
            - please note applying the greedy strategy to the hedge and closing all positions as soon as they are positive even for few pips would have halved the risk and swaps and result in 60% of current exposition. So not even clear out-of-hedge approach

            This is very disappointing.
            I will wait few more days and in any case Iím pulling the plug.
            Returns in good months are not balanced with these cable longs shot out of the blue for no reason.

            P.

            Comment


            • Originally posted by Nick View Post
              Dazz & Chubby,

              I appreciate the frustration. I'm reluctant to say "this time it's different".... but.... this time it's different.

              I'm doing an audio interview with Jay shortly where I'll pose your unfiltered questions directly to him so you can judge for yourself.

              Thanks Nick and I'm sure nobody has more on the line than you being heavily invested in this strategy. So I also believe that this time it will be a different outcome than we have seen from other so called pro traders.

              If we can have an update on the plan going forward to mitigate current losses and after the current basket is closed would be appreciated.

              Cheers
              Chubby

              Comment


              • Feel free to correct me if I'm wrong but have you guys looked at what happened outside FX in the last few days? No matter what his trading plan was going forward he in my opinion did the right thing to hedge (or close) because there was the potential for markets to really go crazy in many ways we can't even begin to imagine. What he did was control risk. We can debate hedge vs close all day long but the important thing is he removed much of the risk even with just hedging. It all came in an unfortunate moment but there's not much one can do about that.

                To those who are moaning about the uncharacteristically big short from way back - not sure it's so uncharacteristic. He often opens such trades and then closes them partially many times on the way to profit. This one just went the other way. They always have stops in place so everybody knows how much is at stake. And it's a lot. But we didn't get that far so in a way we're still better off strange as it may sound.

                Comment


                • Originally posted by primi View Post
                  Feel free to correct me if I'm wrong but have you guys looked at what happened outside FX in the last few days? No matter what his trading plan was going forward he in my opinion did the right thing to hedge (or close) because there was the potential for markets to really go crazy in many ways we can't even begin to imagine. What he did was control risk. We can debate hedge vs close all day long but the important thing is he removed much of the risk even with just hedging. It all came in an unfortunate moment but there's not much one can do about that.

                  To those who are moaning about the uncharacteristically big short from way back - not sure it's so uncharacteristic. He often opens such trades and then closes them partially many times on the way to profit. This one just went the other way. They always have stops in place so everybody knows how much is at stake. And it's a lot. But we didn't get that far so in a way we're still better off strange as it may sound.
                  Well I hope not actually, cant believe risking 10-15% on one trade idea with a average yield of 1% a month...

                  But agree that Jay's last 3 trades didnt go well, which can happen anytime to anyone again. And agree that the current volatility and equity sell off isnt helping at all. Thats why though one should stick to the strict risk management.

                  Comment


                  • Originally posted by primi View Post
                    Feel free to correct me if I'm wrong but have you guys looked at what happened outside FX in the last few days? No matter what his trading plan was going forward he in my opinion did the right thing to hedge (or close) because there was the potential for markets to really go crazy in many ways we can't even begin to imagine. What he did was control risk. We can debate hedge vs close all day long but the important thing is he removed much of the risk even with just hedging. It all came in an unfortunate moment but there's not much one can do about that.

                    To those who are moaning about the uncharacteristically big short from way back - not sure it's so uncharacteristic. He often opens such trades and then closes them partially many times on the way to profit. This one just went the other way. They always have stops in place so everybody knows how much is at stake. And it's a lot. But we didn't get that far so in a way we're still better off strange as it may sound.
                    I dont know if going crazy are the right words but the hedge itself has the characteristics of other strategies that failed. I dont think I need to mention which traders failed doing it (SC is not one of them). Once you get burned a few times you get a dejavu, thats why its uncomfortable.

                    Comment


                    • Originally posted by Amadorian View Post
                      Looking at the myfxbook graph, a big drop similar to this one happened in July 2015. The drawdown now is only slighly higer than back then, so i don't quite understand why many of you are panicking. Just one look at myfxbook and you could've known that this scenario can happen again.
                      The money management or strategy was different back then. Much higher monthly return. It wiped out 4 months of return and only took 4 months to recover. This time 12 months has been wiped out.

                      Comment


                      • Originally posted by primi View Post
                        Feel free to correct me if I'm wrong but have you guys looked at what happened outside FX in the last few days? No matter what his trading plan was going forward he in my opinion did the right thing to hedge (or close) because there was the potential for markets to really go crazy in many ways we can't even begin to imagine.
                        Getting off topic, but that little dip in stocks was utterly predictable and imaginable for anyone with basic familiarity with markets. No market goes up in a straight line for infinity. Just a blip on the monthly chart.

                        Comment


                        • Originally posted by Mike O View Post

                          Getting off topic, but that little dip in stocks was utterly predictable and imaginable for anyone with basic familiarity with markets. No market goes up in a straight line for infinity. Just a blip on the monthly chart.
                          Can you show me your orders selling 100 lots of the stock market prior to the event and then profiting from them? If not...then how was it utterly predictable.

                          Comment


                          • Originally posted by primi View Post
                            Feel free to correct me if I'm wrong but have you guys looked at what happened outside FX in the last few days? No matter what his trading plan was going forward he in my opinion did the right thing to hedge (or close) because there was the potential for markets to really go crazy in many ways we can't even begin to imagine. What he did was control risk. We can debate hedge vs close all day long but the important thing is he removed much of the risk even with just hedging. It all came in an unfortunate moment but there's not much one can do about that.

                            To those who are moaning about the uncharacteristically big short from way back - not sure it's so uncharacteristic. He often opens such trades and then closes them partially many times on the way to profit. This one just went the other way. They always have stops in place so everybody knows how much is at stake. And it's a lot. But we didn't get that far so in a way we're still better off strange as it may sound.
                            The big short was just a normal trade. Slightly larger but maybe 10% larger. Hardly uncharacteristically big so I agree with you.

                            I also agree with you about him fully hedging as the world was buring down for 24 hours. he removed all TP's and SL's and we just rolled.. Sure we lost chance for profits on the dip in GU AU but these things could of kept going. After the market stalled he has now renengaged. I mean it sucks we missed out of taking some profits but it was a breather and a time for some regrouping. This would not b easy for him that's for sure.

                            Last sell decrease was also shit timing. But it now looks like he is actully actively managing it and starting to get in and out and I think that's what we really want to start seeing. Jay sat on his hands way too long with that first hedge and that's why we got into this trouble in the first place ofter the USD death in DEC?JAN.

                            Hopefully he gets a few wins and confidence comes back and he just gets back to doing what he does, which is be a good trader of years and years of experience and start mking us and himself some money.

                            Comment


                            • Originally posted by dazz1975 View Post

                              Not panicking. The frustration of risk management. If someone is making 5% a month and once a year has a 20% drawdown then that would be acceptable but to make only 1-2 percent a month and have a drawdown of 12-15 percent once a year then that in my mind is poor risk management. I am not panicking. I have plenty of equity left but to lose so much money from one trade idea is unacceptable to me.
                              This definitely needs to be looked at post event.
                              Also the fact of if we have this drawdown then why do we have to stop trading other pairs for so long and miss other opportunities. Why can't we open a trade on AUDNZD or any other pair and use that to close some losses on GBPUSD if a trade opens up

                              Comment


                              • Originally posted by Big River Man View Post

                                Can you show me your orders selling 100 lots of the stock market prior to the event and then profiting from them? If not...then how was it utterly predictable.
                                The fact that a strong pullback was overdue was utterly predictable, not the exact moment when it would occur. Anyone long should have tightened their stops.

                                Comment

                                Working...
                                X