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  • Originally posted by Amadorian View Post
    The answer is pretty easy if you read the new rules. A daily max. drawdown of 16% is allowed according to these. So the answer to "At what point do you admit you were wrong and close the trade?" would be: At the latest when it hits the dd limit.
    He is averaging 8% per annum. How and why is he allowed a 16% max DD??? That's what should be asked. If he hits a couple of these every year which he will then recovery back to previous highs is impossible.

    His average winning trade this year has been around 0.1%. At this time his current drawdown is around 1.3% on a single trade. That's 13 times more then his average win.

    If the DD gets to 10% then that would be a hundred times more then his average winning trade.

    He has just placed another buy trade at a time when the downward momentum is strong.









    Comment


    • Originally posted by primi View Post
      Surely not when it's X pips down. Why would you do that? Being X pips away from your entry is no information at all. That's why I'm constantly asking you why you're even bringing it up! It's completely irrelevant.

      I'm currently long USDJPY. I'm up 10 pips. What does that tell you? Absolutely nothing at all. I'm short AUDNZD and I'm up 80 pips. What does that tell you? Absolutely nothing at all! And it's exactly the same if I'm down 80 pips instead of up. Or if I'm down (or up) 700 pips. It's lacking information, you can't discuss trades and trading like that.

      The point when you admit you were wrong is when the likelihood of that particular trade working out drops significantly. And that is never because it's X pips away. Can you understand that?
      I think the point Daileycon is trying to make is that when you are closing out of winning trades with a handful of pips then being in drawdowns for hundreds of pips is surely foolish.

      It's like being penny wise and pound foolish.

      Comment


      • Originally posted by Nick View Post

        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.
        My posts are getting unapproved. You clearly said that I could come back and post until my heart is content. Why are my posts getting unapproved?

        Comment


        • Freedom of speech is getting suppressed on here. Some of my current posts regarding money management and gambling are being blocked form being posted. I wonder if this post will come through.

          Ahh this post came through.. Ok I think it may be because I put a link to a different site regarding gambling and money management and that could be the reason.

          Comment


          • Originally posted by Balboa View Post
            I think the point Daileycon is trying to make is that when you are closing out of winning trades with a handful of pips then being in drawdowns for hundreds of pips is surely foolish.
            That would be a much better argument but the question he was asking was "oh my god his trade is 600 pips down, when will he admit he was wrong, when do you close a losing trade?...same old same old...."

            It depends on the setup and only by looking at that you can start making your mind whether the trade is still valid or not. If it's down or up many pips is not important on it's own. That's why I asked him to look at the trade and tell me why it's a bad trade. "People know which trade I'm talking about" is no argument at all. We all know which trade it is. If he's going to make panic or just make fun of the trader then at least he could go to the trouble to evaluate the trade properly. But that takes knowledge or at least some effort from his part and he's either not knowledgeable enough to properly evaluate a trade or too lazy to do it.

            Not having knowledge is OK, not everybody has it. I'd be very happy if he could at least give it a try even if he doesn't know enough to do it properly. Perhaps we could at least end up with a slightly valuable debate. Being a lazy armchair specialist just annoys me very much. As soon as we drift away from the usual "he has huge SL and closes for a few pips profit, his this and that ratio is crap, it will take forever to recover" all critics just go quiet and won't answer any more trade specific questions. But they immediately resurface when the next trade gets in some DD. I wonder why that is?

            Comment


            • Originally posted by Balboa View Post
              Freedom of speech is getting suppressed on here. Some of my current posts regarding money management and gambling are being blocked form being posted. I wonder if this post will come through.

              Ahh this post came through.. Ok I think it may be because I put a link to a different site regarding gambling and money management and that could be the reason.
              There's no right to freedom of speech on a private forum you idiot. I don't know which is worse.. losing money from SC or reading your repetitive whining posts. Get a ****ing life dude.

              Comment


              • Originally posted by Balboa View Post
                Freedom of speech is getting suppressed on here. Some of my current posts regarding money management and gambling are being blocked form being posted. I wonder if this post will come through.

                Ahh this post came through.. Ok I think it may be because I put a link to a different site regarding gambling and money management and that could be the reason.
                WHy are they getting deleted?

                Comment


                • Originally posted by daileycon

                  16% really? WOW. Is it ok to use a percentage primi or are you going to write an essay about how percentages don't matter?
                  If you read any of my posts you'd know the answer to that. I'm sorry you didn't and still don't understand. Is that short enough answer for you? Just like another guy I also asked you some specific questions but you never answer questions you don't like. It's most likely because you simply don't have the knowledge to do so. So you come up with "I'd rather chew a bag of glass". Go ahead then.

                  Comment


                  • daileycon Balboa Repeating old trading cliches doesnt makes you smarter or more profitable than Us .If you want us to listen to you then just show your profitable trading record

                    how difficult can it be ?????

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                    • Originally posted by daileycon

                      More pompous incoherent ramblings. I rather chew a bag of glass than read another one of your posts. I'm sorry you couldn't understand my simple question. Let me try to ask like a caveman for you.

                      SC in losing trade, when close?

                      16% really? WOW. Is it ok to use a percentage primi or are you going to write an essay about how percentages don't matter?
                      Ease up guys. No need to get into any hard talk.
                      Yes concern is understandable, but that is because we don't know all the details of SC strategy. His spelled out rules doesn't say everything.
                      //-----
                      @primi: When your short is 80+ pips in profit, we may not know whats up your mind but we can guess that it may be one of followings:-
                      1) fixed TP
                      2) fixed % / $ gain
                      3) "Dynamic Exit Conditions" based on new signals
                      4) basketing / adding to trades / compensating other open lossy orders
                      5) etc
                      So there is no need to get harsh on it. It will be more comfortable for all, if you try to tilt your focus towards more accomodative approach and adopt the policy of "Live & Let Live".
                      //-----
                      @daileycon: Nobody ever said that SC will necessarily hold his order(s) till they hit 16% DD ! So please don't assume that SC will get a hit on 16%, then make few small gains then get hit another 16% again and so on. His revised strategy is not spelled out 100% for the consumer end. He may exit it much earlier if he fells appropriate. He may also make many other trades in between to recover his floating loss (nothing stops him). You never know he may be up by 40% while holding this trade in 6% floating DD. Floating loss is part & parcel of every trading acct. I hope this might have clarified few of your doubts. Let SC run for 3-4 months and then see how he surprises you.
                      Last edited by Bangash; 06-03-2018, 01:40 PM.

                      Comment


                      • Sad truth for all traders, all strategies break at some point. The only way to survive is to keep looking for new strategies and ways to trade. After 10 years of trading I learn how not to blow up and protect your capital.

                        Comment


                        • Originally posted by andriisv View Post
                          Sad truth for all traders, all strategies break at some point. The only way to survive is to keep looking for new strategies and ways to trade. After 10 years of trading I learn how not to blow up and protect your capital.
                          yupp this is a fact.

                          my own impulse which is an outbreak strategy failed around november last year. ever since its been capital preserving for my accounts all the while working on new approaches.

                          the good thing is there are always new opportunities to be found to beat the market, life simply goes on. more pips to be had for all of us. and i would think sc might also have adapted to the current market movements.
                          Smart traders never hold positions over the weekend.

                          Below my new home, all accounts fully verified.

                          https://www.myfxbook.com/members/forexfidelitas

                          Comment


                          • Originally posted by Bangash View Post
                            @primi: When your short is 80+ pips in profit, we may not know whats up your mind but we can guess that it may be one of followings:-
                            1) fixed TP
                            2) fixed % / $ gain
                            3) "Dynamic Exit Conditions" based on new signals
                            4) basketing / adding to trades / compensating other open lossy orders
                            5) etc
                            So there is no need to get harsh on it. It will be more comfortable for all, if you try to tilt your focus towards more accomodative approach and adopt the policy of "Live & Let Live".
                            My point has been for the last week that discussing pips is pointless unless
                            1) you always use same absolute SL
                            2) you always use same position size
                            3) you always trade same pair
                            at the very least.

                            None of that is true for SteadyCapture so saying he's in 200 pips loss or 646 pips profit means absolutely nothing. It's sad that many people still don't know this and it's even more sad that even some professional traders/signal providers/vendors use pips as a measure of their success. Of course "professionals" do it because it's easy to obfuscate true results by stating pips. "Retailers" do it because they did not bother to educate themselves.

                            It's exactly the same with stating gain in money terms or percentages. You need to look at it in relation to something else.

                            Comment


                            • GBPNZD... Next crucial support level seems to be at 18600. If that's broken then we could be looking at 18200 and then 17350.

                              Why did he close the sell position???

                              Comment


                              • [QUOTE=andriisv;n99717]Sad truth for all traders, all strategies break at some point.

                                Not always true. Strategies with Reward:Risk ratio of greater then 2:1 will always be profitable year in year out. You don't need to change them.

                                If you are scalping for a few pips or risking hundreds and possibly thousands of pips to make 20 pips profit then it's only a matter of time before S**T hits the FAN. These types of strategies will collapse over time... Dayfox, Smart Trader, Viper, Goldstar to name a few and very soon SC will be on that list of failures too.

                                I thought he was going to change his approach totally and take trades with greater Reward:Risk ratios. Nothing has changed. Same old crappy failed system.




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