Originally posted by Nick
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Looking at the myfxbook graph, a big drop similar to this one happened in July 2015. The drawdown now is only slighly higer than back then, so i don't quite understand why many of you are panicking. Just one look at myfxbook and you could've known that this scenario can happen again.
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Originally posted by Amadorian View PostLooking at the myfxbook graph, a big drop similar to this one happened in July 2015. The drawdown now is only slighly higer than back then, so i don't quite understand why many of you are panicking. Just one look at myfxbook and you could've known that this scenario can happen again.Last edited by dazz1975; 02-07-2018, 09:12 AM.
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Originally posted by Amadorian View PostLooking at the myfxbook graph, a big drop similar to this one happened in July 2015. The drawdown now is only slighly higer than back then, so i don't quite understand why many of you are panicking. Just one look at myfxbook and you could've known that this scenario can happen again.
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Originally posted by Big River Man
Nothing is clear. Nothing. If it were then we would all be making money and no one would need a professional to help them and no one would lose except that's actually not possible as for us to win someone else has to lose. So nothing is clear (until after the fact - but what's the point in that)
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Originally posted by Nick View PostDazz & Chubby,
I appreciate the frustration. I'm reluctant to say "this time it's different".... but.... this time it's different.
I'm doing an audio interview with Jay shortly where I'll pose your unfiltered questions directly to him so you can judge for yourself.
If we can have an update on the plan going forward to mitigate current losses and after the current basket is closed would be appreciated.
Cheers
Chubby
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Feel free to correct me if I'm wrong but have you guys looked at what happened outside FX in the last few days? No matter what his trading plan was going forward he in my opinion did the right thing to hedge (or close) because there was the potential for markets to really go crazy in many ways we can't even begin to imagine. What he did was control risk. We can debate hedge vs close all day long but the important thing is he removed much of the risk even with just hedging. It all came in an unfortunate moment but there's not much one can do about that.
To those who are moaning about the uncharacteristically big short from way back - not sure it's so uncharacteristic. He often opens such trades and then closes them partially many times on the way to profit. This one just went the other way. They always have stops in place so everybody knows how much is at stake. And it's a lot. But we didn't get that far so in a way we're still better off strange as it may sound.
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Originally posted by primi View PostFeel free to correct me if I'm wrong but have you guys looked at what happened outside FX in the last few days? No matter what his trading plan was going forward he in my opinion did the right thing to hedge (or close) because there was the potential for markets to really go crazy in many ways we can't even begin to imagine. What he did was control risk. We can debate hedge vs close all day long but the important thing is he removed much of the risk even with just hedging. It all came in an unfortunate moment but there's not much one can do about that.
To those who are moaning about the uncharacteristically big short from way back - not sure it's so uncharacteristic. He often opens such trades and then closes them partially many times on the way to profit. This one just went the other way. They always have stops in place so everybody knows how much is at stake. And it's a lot. But we didn't get that far so in a way we're still better off strange as it may sound.
But agree that Jay's last 3 trades didnt go well, which can happen anytime to anyone again. And agree that the current volatility and equity sell off isnt helping at all. Thats why though one should stick to the strict risk management.
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Originally posted by primi View PostFeel free to correct me if I'm wrong but have you guys looked at what happened outside FX in the last few days? No matter what his trading plan was going forward he in my opinion did the right thing to hedge (or close) because there was the potential for markets to really go crazy in many ways we can't even begin to imagine. What he did was control risk. We can debate hedge vs close all day long but the important thing is he removed much of the risk even with just hedging. It all came in an unfortunate moment but there's not much one can do about that.
To those who are moaning about the uncharacteristically big short from way back - not sure it's so uncharacteristic. He often opens such trades and then closes them partially many times on the way to profit. This one just went the other way. They always have stops in place so everybody knows how much is at stake. And it's a lot. But we didn't get that far so in a way we're still better off strange as it may sound.
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Originally posted by Amadorian View PostLooking at the myfxbook graph, a big drop similar to this one happened in July 2015. The drawdown now is only slighly higer than back then, so i don't quite understand why many of you are panicking. Just one look at myfxbook and you could've known that this scenario can happen again.
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Originally posted by primi View PostFeel free to correct me if I'm wrong but have you guys looked at what happened outside FX in the last few days? No matter what his trading plan was going forward he in my opinion did the right thing to hedge (or close) because there was the potential for markets to really go crazy in many ways we can't even begin to imagine.
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Originally posted by Mike O View Post
Getting off topic, but that little dip in stocks was utterly predictable and imaginable for anyone with basic familiarity with markets. No market goes up in a straight line for infinity. Just a blip on the monthly chart.
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Originally posted by primi View PostFeel free to correct me if I'm wrong but have you guys looked at what happened outside FX in the last few days? No matter what his trading plan was going forward he in my opinion did the right thing to hedge (or close) because there was the potential for markets to really go crazy in many ways we can't even begin to imagine. What he did was control risk. We can debate hedge vs close all day long but the important thing is he removed much of the risk even with just hedging. It all came in an unfortunate moment but there's not much one can do about that.
To those who are moaning about the uncharacteristically big short from way back - not sure it's so uncharacteristic. He often opens such trades and then closes them partially many times on the way to profit. This one just went the other way. They always have stops in place so everybody knows how much is at stake. And it's a lot. But we didn't get that far so in a way we're still better off strange as it may sound.
I also agree with you about him fully hedging as the world was buring down for 24 hours. he removed all TP's and SL's and we just rolled.. Sure we lost chance for profits on the dip in GU AU but these things could of kept going. After the market stalled he has now renengaged. I mean it sucks we missed out of taking some profits but it was a breather and a time for some regrouping. This would not b easy for him that's for sure.
Last sell decrease was also shit timing. But it now looks like he is actully actively managing it and starting to get in and out and I think that's what we really want to start seeing. Jay sat on his hands way too long with that first hedge and that's why we got into this trouble in the first place ofter the USD death in DEC?JAN.
Hopefully he gets a few wins and confidence comes back and he just gets back to doing what he does, which is be a good trader of years and years of experience and start mking us and himself some money.
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Originally posted by dazz1975 View Post
Not panicking. The frustration of risk management. If someone is making 5% a month and once a year has a 20% drawdown then that would be acceptable but to make only 1-2 percent a month and have a drawdown of 12-15 percent once a year then that in my mind is poor risk management. I am not panicking. I have plenty of equity left but to lose so much money from one trade idea is unacceptable to me.
Also the fact of if we have this drawdown then why do we have to stop trading other pairs for so long and miss other opportunities. Why can't we open a trade on AUDNZD or any other pair and use that to close some losses on GBPUSD if a trade opens up
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Originally posted by Big River Man View Post
Can you show me your orders selling 100 lots of the stock market prior to the event and then profiting from them? If not...then how was it utterly predictable.
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