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  • Originally posted by daileycon
    Sure, these numbers look good but really don't mean anything. Every trader sets up rules like these. The question is weather the trader can stick to them and use a strategy that allows it.
    Mike Tyson – “everyone has a plan until they get punched in the mouth”.
    This is one of the truest and most relevant/important statements I have heard for a while on this forum.
    I know how important it is to develop a system and Risk Management Plan, but it is the most difficult to make sure these plans can be executed simultaneously so that profit is maximised and losses are minimised.
    “Learn from your mistakes and do not give up!”

    Outside the Box - Myfxbook
    Outside the Box - SimpleTrader Trade Copying

    Comment


    • Originally posted by Balboa View Post

      But he had a 20% max DD rule before.

      I really am struggling to see how the money management in this new plan is any different to the money management on the old plan.

      The one positive I see here is the RIsk:Reward of 1:150. However that's a big R:R ratio and very unlikely to be hit.

      But my concern is on the 22% max DD. It's a big DD. Good traders don't hit these kind of drawdowns including those that are making 50% ROI per annum.

      Secondly what evidence is there that this strategy is profitable. Surely you would have tested it out before selling it onto your clients..
      Mate....

      Nobody asked your opinion, yet you continually offer advice without even understanding the most basic elements of the strategy. This is like the stewardess telling the pilot how they should run their flightplan.

      It was 30%

      Yes, this stragtegy is profitable based on extensive backtesting. We're not throwing darts at keyboard and hoping for the best here...

      Stay off this thread or I'll ban you permanently.

      Once you have any evidence that even a single one of your opinions has any element of fact, then you'll be welcome back. You can then advise us until your heart is content.
      Click here to check out the most popular forex channel on YouTube

      Comment


      • Originally posted by daileycon

        I think the negativity and questions come from the fact that people are risking their money on this new strategy but haven't seen this:

        "Yes, this stragtegy is profitable based on extensive backtesting."

        Your clients have lost trust. Wouldn't showing them some of the extensive backtesting be worth it? You can't just come out and say "look we lowered our max DD" and expect people to jump right back in. Sell it Nick, come on man. You need to hire a salesman haha
        There isn't a curve fitted backtest like you're expecting.

        The last thing clients need is me "selling" SteadyCapture. The results must speak for themselves, and that's going to take a while.

        In the meantime all I can do is fend off lies and half truths about me, SteadyCapture and forex trading.

        Click here to check out the most popular forex channel on YouTube

        Comment


        • Originally posted by daileycon

          I think the negativity and questions come from the fact that people are risking their money on this new strategy but haven't seen this:

          "Yes, this stragtegy is profitable based on extensive backtesting."

          Your clients have lost trust. Wouldn't showing them some of the extensive backtesting be worth it? You can't just come out and say "look we lowered our max DD" and expect people to jump right back in. Sell it Nick, come on man. You need to hire a salesman haha
          Nick is not against criticism infact forexsignals.com has come a long way because of listening to criticisms and improving upon them

          But when guys like Balboa come here and pretend to be a successful trader and spread ill advise and lies then it wont help anybody

          Balboa giving advice to steadycapture is like a gamer advising a real pilot on how to fly a plane
          Last edited by MrMcmahon; 05-18-2018, 03:23 PM.

          Comment


          • Originally posted by Nick View Post

            The thing that really counts is the 22% total drawdown.

            The daily, weekly, monthly breakdown is what hedge funds do when allocating risk to traders, so he's using that model.

            22% is the number that we all care about.
            Hi Nick ..

            A lot of rules .. Some questions ..

            The losses to Jay have comes in trend days where Jay has trade opposed the trend ,,
            Example Last
            USd / JPY plus his position every 20 pips ... The same applies to GBPNZD trade strongly against a trend ..

            In what way will the new rules prevent the losses from becoming large ... like the latter examples ..

            How big DD would the senario have been with the new rules ..?

            Jay has his own ability to hit the moment incredibly many trade is it almost not in minus it goes direct in plus ...
            Same we can say on many loss trade hits minus moment so it sings ..

            I also see some trade that has been in plus 15-40 pips in plus and then ended into a loss ..
            Will Jay preserve this trade in a better way in the future ..?


            I do dont think a professional risk manager would approved Jay money manage plan !!
            Average performance is 1 % a months 2017 ..

            Is it not brave to aloud 16 % during 1 position .. 16 month to recover for 1 position .

            A trader will always come into situation where he is wrong ,thinking wrong and trading wrong ..

            When Jay in the future make mistake again and start a to trade against the trade it will happen is queation about time ..

            Is is not normal to limited the loses to max 2-3 month average lose for that senario not 16 months ??

            Comment


            • The rules means nothing if still using the same amateur trader. I think Nick need to reconsider this for the sake of the business here.

              if 1 month allow for 20% DD, in case first week he already hit the 20% DD, what's next? Stop until next month, or continue trading? Then he may hit another 20% DD anytime. This is not important. What we need is a proven successful trader, SC has proven failure.

              Never ever consider backtest as an indication of trading results, there are slippages that backtest are not able to capture. Thus the backtest result is unacceptable.
              Last edited by trizzard; 05-18-2018, 09:13 PM.

              Comment


              • When is trading going to resume?

                Sent from my SM-G920F using Tapatalk

                Comment


                • Originally posted by Nick View Post
                  [*]There will now be a more active use of trades using tighter stops and better risk to reward ratios. Such trades will be allowed in any pair or direction.[LIST][*]Range for these trades will be 7:1 – 1:150 risk to reward ratio

                  So the target on GbpNzd is 1400 pips minumum? I mean, the trade is down 200 pips....

                  Seems like the same old strategy to me.

                  Comment


                  • Originally posted by Xinvestor View Post


                    So the target on GbpNzd is 1400 pips minumum? I mean, the trade is down 200 pips....

                    Seems like the same old strategy to me.
                    More trolling. Great job leaving the thread and taking the high road mate.....pretty sad tbh. Oh well.

                    For anyone out there that is confused. If you read the directions properly you will see (as has already been pointed out) that the risk RANGES from 7:1 to 1:150. Pretty simple to understand and yes very broad in range.

                    For this reason it is going to be very hard to analyze the system, however my understanding of the synopsis was that the core logic of the trading system hasn't changed just the risk management has. That being said I find it uses jargon that is confusing and says a lot without saying anything.

                    Comment


                    • Originally posted by Big River Man View Post

                      More trolling. Great job leaving the thread and taking the high road mate.....pretty sad tbh. Oh well.

                      For anyone out there that is confused. If you read the directions properly you will see (as has already been pointed out) that the risk RANGES from 7:1 to 1:150. Pretty simple to understand and yes very broad in range.

                      For this reason it is going to be very hard to analyze the system, however my understanding of the synopsis was that the core logic of the trading system hasn't changed just the risk management has. That being said I find it uses jargon that is confusing and says a lot without saying anything.
                      It looks like you dont know how R:R works LOL

                      Where was my post wrong? Risk ranges from 7:1 to 150:1. If the trade is in 200 pip DD that means that the TP is at least 1400 pips since the R:R range starts at 7:1. So again please tell me where trolling comes into play...

                      I dont really expect an answer from you as you call everyone you disagree with a troll. I never agree with the nonsense you write yet I dont call you a troll.

                      BTW I left the other thread. Again bad reading comperhension from your side. Try to be more accurate next time.

                      I wonder if you will answer my questions and explain how I was wrong. I dont really expect any reasonable post from you since dont really know what the hell you are talking about.

                      Comment


                      • Originally posted by Xinvestor View Post

                        It looks like you dont know how R:R works LOL

                        Where was my post wrong? Risk ranges from 7:1 to 150:1. If the trade is in 200 pip DD that means that the TP is at least 1400 pips since the R:R range starts at 7:1. So again please tell me where trolling comes into play...

                        I dont really expect an answer from you as you call everyone you disagree with a troll. I never agree with the nonsense you write yet I dont call you a troll.

                        BTW I left the other thread. Again bad reading comperhension from your side. Try to be more accurate next time.

                        I wonder if you will answer my questions and explain how I was wrong. I dont really expect any reasonable post from you since dont really know what the hell you are talking about.
                        Seriously... get a life Xinvestor and stop baiting members into your petty "he said, she said" bullshit.

                        Banned for another 7 days.
                        Click here to check out the most popular forex channel on YouTube

                        Comment


                        • Originally posted by trizzard View Post
                          The rules means nothing if still using the same amateur trader. I think Nick need to reconsider this for the sake of the business here.

                          if 1 month allow for 20% DD, in case first week he already hit the 20% DD, what's next? Stop until next month, or continue trading? Then he may hit another 20% DD anytime. This is not important. What we need is a proven successful trader, SC has proven failure.

                          Never ever consider backtest as an indication of trading results, there are slippages that backtest are not able to capture. Thus the backtest result is unacceptable.
                          Hi Trizzard,

                          If he hit's those levels then trading stops for the remainder of the month.


                          Click here to check out the most popular forex channel on YouTube

                          Comment


                          • Just to clear possible confusion:

                            - Steadycapture and BRM said Range for these trades will be 7:1 – 1:150 risk to reward ratio
                            - Xinvestor said Where was my post wrong? Risk ranges from 7:1 to 150:1.

                            It should be clear where he was wrong if you read carefully. But Xinvestor is more interested in writing his weekly number of LOLs so he missed it.

                            Comment


                            • Originally posted by Nick View Post

                              If he hit's those levels then trading stops for the remainder of the month.

                              I wonder... why stop trading for the month if hitting the 20% dd limit? The max dd. is set to 22%, it doesn't make that much of a difference. And usually after a losing streak, its much more likely to get some good trades going, so in my opinion you risk to miss the good spots if you stop trading.

                              And he is in a 23%dd now, so basically the max. dd was increased to 45% for the moment?

                              Comment


                              • Originally posted by Amadorian View Post

                                I wonder... why stop trading for the month if hitting the 20% dd limit? The max dd. is set to 22%, it doesn't make that much of a difference. And usually after a losing streak, its much more likely to get some good trades going, so in my opinion you risk to miss the good spots if you stop trading.

                                And he is in a 23%dd now, so basically the max. dd was increased to 45% for the moment?
                                It's a mechanism hedge funds and professional traders use to give themselves a time out in the event of a major loss.

                                It makes a huge difference to a traders mentality to take time away from the markets.

                                For the purpose of these calculations we're starting again from scratch.
                                Click here to check out the most popular forex channel on YouTube

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