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  • SteadyCapture said on last saturday that the USD will go higher until the decision of BOE.
    And then, GBP will go higher.
    Exactly what happened, so... Why he didn t close the sell in profit just before the event? And reopened a sell one hour after?
    After saying that, on weekly chart, still overbought and sell stay a good idea in a swing trading

    Envoyé de mon GT-I9505 en utilisant Tapatalk

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    • Originally posted by ste3fan View Post
      SteadyCapture said on last saturday that the USD will go higher until the decision of BOE.
      And then, GBP will go higher.
      Exactly what happened, so... Why he didn t close the sell in profit just before the event? And reopened a sell one hour after?
      After saying that, on weekly chart, still overbought and sell stay a good idea in a swing trading

      Envoyé de mon GT-I9505 en utilisant Tapatalk
      I concur, there have been a number of opputunities to take profits and get out of some the hedges. This is very odd, is there a possibly of trader block/fatigue.....
      Last edited by moneyrunner; 02-08-2018, 03:50 PM.

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      • Maybe its really better that Jay is taking few days off ... restart, refresh.

        We used to have a rule on the desk that when someone hit the MAT (Management Action Trigger) the maximum cumulative loss for a month (calculated based on expected year/month return), one stopped trading till end of the month to avoid pushing it hard to make it back at once. Its not about homeruns.

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        • Originally posted by primi View Post

          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.
          Then you really have no clue what I was talking about and instead of following the actual thread, are putting my replies into an imaginary conversation. The reading comprehension in this forum is pitiful.

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          • Originally posted by ales View Post
            Maybe its really better that Jay is taking few days off ... restart, refresh.

            We used to have a rule on the desk that when someone hit the MAT (Management Action Trigger) the maximum cumulative loss for a month (calculated based on expected year/month return), one stopped trading till end of the month to avoid pushing it hard to make it back at once. Its not about homeruns.
            Yes, one of the big disadvantages of being a solo trader is not having a risk management team to watch over you and pull the plug when certain objective conditions are triggered. Perhaps this company could benefit from setting up a risk management team for their traders. The level of discipline and self awareness required to trade profitably is f***ing brutal and a solo trader will always make stupid mistakes occasionally.
            Last edited by Mike O; 02-08-2018, 06:24 PM.

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            • Originally posted by Mike O View Post

              Then you really have no clue what I was talking about and instead of following the actual thread, are putting my replies into an imaginary conversation. The reading comprehension in this forum is pitiful.
              Dude, you were replying to me originally. Nothing imaginary there. Yep, pitiful comprehension here.

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              • Originally posted by primi View Post

                Dude, you were replying to me originally. Nothing imaginary there. Yep, pitiful comprehension here.
                Alright so you haven't understood anything that followed. Very good. Now back to the discussion of setting up a risk management team...

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                • Originally posted by moneyrunner View Post

                  I concur, there have been a number of opputunities to take profits and get out of some the hedges. This is very odd, is there a possibly of trader block/fatigue.....
                  I agree. The latest longs (including a big one) around 1.42 were in significant profit (and I'm not talking about 5 pips here) for quite some time. Now they contribute to ~30% of the current DD even though they were partially closed in the red. I am very curious as to why weren't they closed (at least partially) when in good profit, given the exposure and the floating DD. There were other opportunities as well. Hindsight is everything I know, but even then I was expecting them to be closed at any minute.

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                  • Originally posted by Mike O View Post

                    Alright so you haven't understood anything that followed. Very good. Now back to the discussion of setting up a risk management team...
                    Yeah, I tend to be like that. Perhaps you could enlighten me how you concluded I was talking about stocks. Because I wasn't. And I'm also not sure SC was concerned about stocks. He looks elsewhere first.

                    But we're clearly not on the same page so be it.

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                    • Let's just wait until we hear the audio from Nick and Jay. Everything else is unrelated or just speculation.

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                      • Originally posted by primi View Post

                        Yeah, I tend to be like that. Perhaps you could enlighten me how you concluded I was talking about stocks. Because I wasn't. And I'm also not sure SC was concerned about stocks. He looks elsewhere first.

                        But we're clearly not on the same page so be it.
                        I assumed you were referring to the stock market "crash" that occurred around the same time that you posted. It was all over the news. Very big news.

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                        • Did anyone have any feedback on the audio interview as I could not find anything in the thread also could anyone assist on the management plan for the GBP USD pair.

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                          • Originally posted by Mike O View Post

                            I assumed you were referring to the stock market "crash" that occurred around the same time that you posted. It was all over the news. Very big news.
                            It's OK to make wrong assumptions, happens to everyone. But when you start talking about my "pitiful reading comprehension" or anybody else's for that matter it could get a bit personal.

                            If that's settled then - how's that interview coming along?

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                            • Hey guys,

                              I've just published the interview on SoundCloud.

                              Click here to listen to the full interview.

                              The key takeaways are:
                              • Most of the existing floating losses will be closed within the next few weeks.
                              • A day trading strategy, that has been in development since 2014 will commence in March, which should amplify returns and speed up the recovery.
                              • He isn't expecting the current floating losses to worsen from this point forward.
                              • While frustrated, he has zero doubt in his ability to recover and outperform long term, just like he has over the past 6 years.

                              Apologies for some of the audio cuts, my recording was incredibly faint for parts of it, so I had to re-record several of the questions.
                              Click here to check out the most popular forex channel on YouTube

                              Comment


                              • Thank'you Nick for organizing this, and asking some tough questions.

                                Jay, thanks for answering honestly, it's an incredibly hard thing to admit mistakes like that - and I respect you for it.

                                That kind of honesty makes a big difference in whether I stay or go, so thanks.

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