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  • Mike O yes if we wouldn't be in DD this would be OK, but since we are in DD and this event happened when we were exposed he hedged to watch the market reaction and this is good. Also you cannot predict when a correction happens it could have been going on for months or years and than boom...

    We all know a new financial crisis is overdue but nobody knows when it will happen... If we knew we would cash out and buy gold or BTC, but nobody has any idea when this will happen, so saying it's predictable is not true...

    Comment


    • Originally posted by oportunis View Post
      Mike O yes if we wouldn't be in DD this would be OK, but since we are in DD and this event happened when we were exposed he hedged to watch the market reaction and this is good. Also you cannot predict when a correction happens it could have been going on for months or years and than boom...

      We all know a new financial crisis is overdue but nobody knows when it will happen... If we knew we would cash out and buy gold or BTC, but nobody has any idea when this will happen, so saying it's predictable is not true...
      My previous messages were responding to comments about the stock market. It was a pullback in an over extended bull trend. Blatantly predictable and expected, and not a financial crisis. This has nothing to do with the GBPUSD basket. As I said this is going off topic.

      Comment


      • Originally posted by Mike O View Post
        It was a pullback in an over extended bull trend. Blatantly predictable and expected, and not a financial crisis.
        If you thought the Dow was overextended for, say, the last 12 months ? ... then you could have shorted it.

        You would have been wrong 11 months out of 12 though.

        And the Bull trend has been going on for a lot longer.

        Comment


        • Mike O It's not off topic. You cannot predict what will happen... S&P has been in bull market since March 2009 than, how do you know when correction happens? Tell me I want to know, so I can short it

          Comment


          • Originally posted by oportunis View Post
            Mike O It's not off topic. You cannot predict what will happen... S&P has been in bull market since March 2009 than, how do you know when correction happens? Tell me I want to know, so I can short it
            Dude, just read what I wrote and look at the actual chart. On the monthly chart its nothing but a pullback. Pullbacks are guaranteed to happen eventually. That's all I'm saying.

            https://www.tradingview.com/x/lih7pDg1/
            Last edited by Mike O; 02-07-2018, 11:52 PM.

            Comment


            • I'm booked in to record an interview with Jay tomorrow, which I hope to make available shortly after (pending editing).

              Here are the questions I'll be posing:

              - How did you get into this mess?
              - What's the plan to get out of it?
              - Clients have asked about the oversized trades at the top and bottom of the market. Why do you keep buying tops and selling bottoms?
              - Why are some of these trades significantly larger? Are you chasing your losses by increasing risk?
              - With the Dow Jones so extended earlier in the month, why didn't you factor in a possibility of a heavy correction?
              - What will happen if drawdown gets worse? What is the possibility of clients blowing up their accounts?

              For those of you worried that I'm putting unnecessary pressure on Jay which may lead to him stressing out and making poor trading decisions. Don't.

              He's the most level trader I've ever met and can handle more than most.

              You probably also share the opinion that if he can't answer some tough questions from clients when he screws up and times are as tough as they've ever been, then he shouldn't be trading.

              These questions are intentionally framed in a negative tone because I'm attempting to channel all of your frustrations. Personally, I'm still 100% behind Jay and expect a full recovery soon.

              I expect once you hear from him directly you'll share in my confidence moving forward.
              Click here to check out the most popular forex channel on YouTube

              Comment


              • Originally posted by Mike O View Post

                Dude, just read what I wrote and look at the actual chart. On the monthly chart its nothing but a pullback. Pullbacks are guaranteed to happen eventually. That's all I'm saying.

                https://www.tradingview.com/x/lih7pDg1/
                C'mon everybody knows that there will be some pullback eventually, but nobody knows when. The chart u showed hasn't had any correction over a year, so should we not trade it because a pullback is overdue? Should we have staid aside and waited for pullpullback to enter and miss almost 2 years of profits? The same was for Dow... It could have happened in August 2018 or July 2019 so should Jay not trade GBP until a healthy pullback happened?

                Comment


                • Originally posted by oportunis View Post

                  C'mon everybody knows that there will be some pullback eventually, but nobody knows when. The chart u showed hasn't had any correction over a year, so should we not trade it because a pullback is overdue? Should we have staid aside and waited for pullpullback to enter and miss almost 2 years of profits? The same was for Dow... It could have happened in August 2018 or July 2019 so should Jay not trade GBP until a healthy pullback happened?
                  No I never said that. I was originally replying to someone who said this pullback is far beyond what anyone could ever have anticipated. Even you agree that is false. I think we can all agree that strong trends will pull back eventually.

                  Comment


                  • Originally posted by Nick View Post
                    I'm booked in to record an interview with Jay tomorrow, which I hope to make available shortly after (pending editing).

                    Here are the questions I'll be posing:
                    Great questions, and thank you Nick.

                    Please add the following questions - if you feel they are appropriate

                    - Why did you short GU with such a large lot size
                    - When that trade went against you, why did you continue to short
                    - When you eventually hedged those massive shorts with a long, were you expecting to get out of the short in 1 months / 2 months ( I imagine sooner )
                    - Do you think it would have been better to take the loss on the GU short and continue to trade (obvious question in retrospect of course)
                    - Will you be hedging like this in the future.

                    To be fair, I'm not being an Asshole for no reason, it's easy to criticise after the event. I'm just interested in Jay / Nick's honest answers to these questions at those times - the past is the past.

                    Westie






                    Comment


                    • Originally posted by Westie View Post

                      Great questions, and thank you Nick.

                      Please add the following questions - if you feel they are appropriate

                      - Why did you short GU with such a large lot size
                      - When that trade went against you, why did you continue to short
                      - When you eventually hedged those massive shorts with a long, were you expecting to get out of the short in 1 months / 2 months ( I imagine sooner )
                      - Do you think it would have been better to take the loss on the GU short and continue to trade (obvious question in retrospect of course)
                      - Will you be hedging like this in the future.

                      To be fair, I'm not being an Asshole for no reason, it's easy to criticise after the event. I'm just interested in Jay / Nick's honest answers to these questions at those times - the past is the past.

                      Westie





                      No worries at all. I'll include them during the call.
                      Click here to check out the most popular forex channel on YouTube

                      Comment


                      • They are good questions Nick.
                        I am most interested in the second question of what is the plan to get us out of it.
                        Look forward to hearing it next week

                        Comment


                        • Hi

                          Can you add those questions ?
                          Will you add possition, or will you decrease number of position before adding news?
                          If decreasing, until which size of position before increasing ?
                          Are you confident?
                          Are you stressed?
                          Do you need help?

                          Best regards

                          Stéphane


                          Envoyé de mon GT-I9505 en utilisant Tapatalk

                          Comment


                          • Originally posted by Nick
                            I'm booked in to record an interview with Jay tomorrow, which I hope to make available shortly after (pending editing).

                            Here are the questions I'll be posing:

                            - How did you get into this mess?
                            - What's the plan to get out of it?
                            - Clients have asked about the oversized trades at the top and bottom of the market. Why do you keep buying tops and selling bottoms?
                            - Why are some of these trades significantly larger? Are you chasing your losses by increasing risk?
                            - With the Dow Jones so extended earlier in the month, why didn't you factor in a possibility of a heavy correction?
                            - What will happen if drawdown gets worse? What is the possibility of clients blowing up their accounts?

                            For those of you worried that I'm putting unnecessary pressure on Jay which may lead to him stressing out and making poor trading decisions. Don't.

                            He's the most level trader I've ever met and can handle more than most.

                            You probably also share the opinion that if he can't answer some tough questions from clients when he screws up and times are as tough as they've ever been, then he shouldn't be trading.

                            These questions are intentionally framed in a negative tone because I'm attempting to channel all of your frustrations. Personally, I'm still 100% behind Jay and expect a full recovery soon.

                            I expect once you hear from him directly you'll share in my confidence moving forward.
                            Hi Nick.

                            *Trade plan including exit strategy whether it be in favour or not our favour.

                            *Maximum drawdown

                            *Risk management ratio in future.

                            *Is he going to continue martingale, grid or averaging in like his current trading has been.

                            Sent from my SM-G920I using Tapatalk

                            Comment


                            • Originally posted by Mike O View Post

                              No I never said that. I was originally replying to someone who said this pullback is far beyond what anyone could ever have anticipated.
                              Perhaps you should read again what I wrote. I never even mentioned stocks nor a blip/pullback. It's not just FX and stocks out there.

                              Comment


                              • Dear SC Trader,

                                After the multiple hedgings, i think you have forgotten how to take profit.

                                Please let us know whether you still trade like before or you have changed your trading method.

                                You seems lost.

                                Soon or later the equity will burn even more and game over.
                                Last edited by trizzard; 02-08-2018, 02:09 PM.

                                Comment

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