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  • @fxtradefx1 Nick didn't lie... The SL works only in normal market condition. If there is a spike your SL won't be filled and therefore no equity protection can help you. Even in Mt. Cook, I know I have experienced it in real life. And this is only for a spike, which means a tick jumps several pips against you. If there is a black swan event like on CHF pair or flash crash, you will get margin call and maybe even owe funds to the broker if you are too exposed... Also saying Steady doesn't know how to trade and the system is not described properly is a lie. Steady described his system good enough for investors and I saw he stuck to what he wrote, so you saying this is not good enough is irrelevant. I've been with him since he took over Viper's funds so I saw it in real account. He also did a loss at the start of his career at this site and made it all back and didn't have any losing months till this year, so saying his system is not good is your personal opinion... Also Steady has at least 5 year history of proven track record, which means he is a rarity in FX... Nobody can make every year profitable, but if you take a look at 5 years he has made good returns... And once in the future if you will look at 10 year of his history you might say that 2018 wasn't the best, but the most important thing is that we are still in the market and with our initial capital untouched. We are still early in the year here and with volume picking up we can get the setup Jay is waiting for and with that the potential to end this year in profit or at BE. Time will tell, but pushing your personal opinion on others is irrelevant here... You said what you wanted and that's it. We know you are not a fan, it's OK and we move on. Investors can read the risk of the system here and decide if this is for them or not... Your opinion we already know, other investor's opinion might be this system is OK for them. We've been here before and we'll be here again in the future. What is most important is sticking to trading rules and if Jay was more successful in winning than losing before I think his system will bring profits again with additional bump on the road...

    Comment


    • I wasnt talking about Black Swan events. If you are stupid enough that you are in the market when that happens, then its your fault. Systems like SC have trades open 100% of the time so they are always at risk of blowing the account. These events are predictable and a good trader knows when to stay out of the market. But thats beside the point in terms of what Nick said. He conveniently left out that it is possible to set the equity stop and claimed that its just a mental thing. That is factually not true. If you set your SL at say 20% then the system will close all trades and block trading automatically when that 20% DD is reached. Is that a mental stop in your book? If it is respected or not by the software during Black Swan events (which are extremely rare btw) is another thing. But saying its just mental is a lie.


      I will not go through the whole system description but here is a quote from SC trader:
      Originally posted by SteadyCapture View Post

      I have no problem cutting losers when appropriate
      How is that not a lie? Was not cutting the losers back in December last year when I called this appropriate? I said that its his pride not allowing him to close the trades which had to be closed long time ago. It had nothing to do with strategy or market analysis, it was all to satisfy his ego. How did I know it but he didnt? I am not an expert trader but I can evaluate a system. This was a blatant lie and I dont know how you can claim it is not. I have seen traders like him before and they care more about keepng their equity line looking pretty than about clients. You can clearly see this happening now when his ego doesnt allow him to come here are face the music. He had the balls to hold the trades and play roulette with investors money but doesnt have the balls to come online and explain himslef. Really classy.

      Yes, he had a loss earlier and that should have been a red flag for you. Its a terrible strategy to hold and hope losing trades. If you get lucky, you close in profit and if not you blow 10%. A monkey could do what he does and get lucky 90% of the time since he is risking hundreds of pips to make 10. Simple probability. And how do you know this DD will not happen again before he gets to new equity highs? Judging by his style and hightened pressure its a very high chance of something like this happening again within the next year and then the account will be down 30%.


      But anyway, why are there no updates from Nick or Jay? They are supposed to be transparent but now when people need explanations and assurances, they are nowhere to be found. For such professionals it seems very unprofessional. Its been a few days and still nothing. Are you happy with that?
      This is exactly the time when they should be the most active on the forum and present a plan on how to recover the loss. Being a manager is not updating investors when things are going well for everyone, investors need to be in the know when things arent going as planned. They dropped the ball here as well.


      You have your opinion and I have mine, nothing wrong with that. All I was trying to do last year was to warn investors about this manager before it was too late. Warning signs were all there and those who did not see them are now on the losing side. The problem is that a part of this community follows Nicks advice blindly and believe everyting he says. You guys should know that Nick just wants to sell what he can, he will say its the best and it doesnt matter that its not. With SC all he has is a long track record, he has nothing else that is remotely good about this system to push to investors. All the stats were terrible before this loss, now they are disastrous.







      Comment


      • Please, stay in topic. Moderators of this forum has already showed their incompetence. It's not possible that every drawdown this forum become an house for haters, advertisers, trolls and so on. This DD will last 6 months, so we have to see fuxkfxfxf1234 post s for 6 months?
        Stay in topic or open your own topic.

        Comment


        • Originally posted by finanzaonline View Post
          Please, stay in topic. Moderators of this forum has already showed their incompetence. It's not possible that every drawdown this forum become an house for haters, advertisers, trolls and so on. This DD will last 6 months, so we have to see fuxkfxfxf1234 post s for 6 months?
          Stay in topic or open your own topic.
          If the moderators delete the posts, they are seen as "not being transparent." If they don't delete the posts, they are seen as "incompetent." But I agree, much better if people can create special threads for complaining. This is becoming quite off topic now.

          Comment


          • Originally posted by fxtradefx1 View Post



            But anyway, why are there no updates from Nick or Jay?



            There are no updates because there is nothing to update. The market is flat, and until it moves we're not going to be entering.

            Sorry mate, but I'm going to delete all your future posts on this thread, because:

            - They're generally incorrect
            - They're too long. Even I struggle to follow, and it's normally me that you're slating.

            Please start another thread in this section titled "Why I think Nick is a lying scumbag and Jay can't trade to save his life"

            Then I'll put in the effort to respond to each of your accusations and we can stop littering this thread.
            Click here to check out the most popular forex channel on YouTube

            Comment


            • Looking at this myfxbook
              https://www.myfxbook.com/members/Thi...mtcook/1941944

              Its actually not that bad.
              If you had started in october last year; 6 months later you have made 1.53%
              A bank won't give you 1% for a full year.
              Ofcourse rather see 100% gain but that isn't realistic.
              And I understand the ppl frustration who first got hit by goldstar then switched to this and got hit again. Bad timing I guess.

              PS. Nick that sorry wasn't for you but for the ppl who invested and lost big.

              Comment


              • Originally posted by reneb View Post
                Looking at this myfxbook
                https://www.myfxbook.com/members/Thi...mtcook/1941944

                Its actually not that bad.
                If you had started in october last year; 6 months later you have made 1.53%
                Hi Reneb, I think that's true if you started October 2016 (not last October).

                I think you can calculate it by taking the accounts profit when you entered ( 17.3% in October) removing the current profit (1.53%) and negating the lot.

                17.3 - 1.53 => 15.77%

                So a 15.77% loss if you started last October.

                I'm no maths expert and am happy to be corrected, but that lines up with my experience.

                Comment


                • Hi Guys,

                  It's a bit unfortunate that SteadyCapture's basket on GBPUSD didn't go according to plan, but his strategy is completely sound and would have ended in profit under "normal" market conditions probably 9 out of 10 times. I must say the market has been very weird in the last 6-8 months and a lot of other systems have also crashed or suffered significant DDs. Even SFE Price Action has been having a long period of stagnation and only just now starting to make profits again that volatility has started to pick up. SC's strategy also relies heavily on volatility so it's understandable why his strategy did not do well in the last few months. He did keep to his words and cut the loss when necessary and I don't believe he did anything wrong. He simply traded his strategy but unfortunately the market conditions just haven't been favourable.

                  I also took the loss by SC but because SFE PA also managed to make some nice gains recently, the loss is not obvious on my account graph.

                  I still have full confidence in SC and can't wait for his Gold Sniper strategy. I am quite certain the next FOMC is going to generate a lot of volatility with the new Chair giving his first rate decision and press conference. And volatility is just what SC needs to start making nice profits again!

                  Comment


                  • Originally posted by ccjhuang View Post

                    I still have full confidence in SC and can't wait for his Gold Sniper strategy.
                    Level of delusion on this board is staggering.

                    Comment


                    • Originally posted by Xinvestor View Post

                      Level of delusion on this board is staggering.
                      I must say SC's strategy is slow to grow and will not make you rich any time soon.
                      That's why I only use SC as my secondary background strategy along with SFE Price Action an SFE Night Scalper.

                      But according to my past experience and observations, all his trades are sensible and highly accurate when the market conditions are right (ie. when there is enough volatility),

                      Saying he is a scam just because we've been through a rough time is not very nice...there are many more EA's or systems out there that have crashed account over the last 6 months, while SC kept his words and cut the loss when he needed to. And the funny thing is people are crying over a 15% DD when he clearly stated in the past that potential DD could be up to 30%...

                      Since I started with SC in mid-2016, he has made me more than $20000 (even after the recent loss), you can confirm it here: https://www.fxblue.com/users/ccjhuan...30595#overview

                      I have no doubt that SC will still be profitable in the LONG TERM.
                      What people really need to make money in Forex is just PATIENCE...
                      Last edited by ccjhuang; 03-12-2018, 07:45 AM.

                      Comment


                      • I never said they are a scam. Its real trading, they are profitable long term and people made money if they invested early. Those are all good things. The bad thing is that trading is terrible, clamar ratio is abysmal and money management is practically non-exsistent. The bar is set very low if people are satisfied that the trader stuck to his rule about max DD. And he didnt cut the loss when he needed to, he cut the loss when he had no other choice. Thats a big difference.

                        There were things that could have been done way before to prevent the current situation and they all have to do with money management. They may be profitable in the future but my point is why would anyone want to be making 1% monthly and risking 30% of their account? As bad as this site is at providing good traders/signals, one can still find way better than SC.

                        Comment


                        • Originally posted by ccjhuang View Post
                          It's a bit unfortunate that SteadyCapture's basket on GBPUSD didn't go according to plan, but his strategy is completely sound and would have ended in profit under "normal" market conditions probably 9 out of 10 times.
                          That would be great if the risk managment was better. But if you win 9 times and make 1% each, and on the tenth time, lose 10%, there is something wrong with the strategy.
                          0,75% monthly profit for the risk he's taking, is pretty bad.

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                          • Comment


                            • In this case it is easy though, because of the loss in 2015, and many big equity drops during the whole journey, that's why i never joined SC. So the dd didn't come as a suprise, but its bigger than i expected, because of the bigger than usual trade size on the gpbusd trades. And that is something you can only see when it's already too late.

                              Comment


                              • Originally posted by Amadorian View Post
                                because of the bigger than usual trade size on the gpbusd trades. And that is something you can only see when it's already too late.
                                That trade was actually not bigger than usual. It's been like that many times. And often people make a comment thinking it's a mistake on his part. It's not. It's how he trades at times.

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