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  • Sorry but I don't see any clear statement about max DD (besides an approximation of 20%) and exit strategy. I'd be happy if you could make a clear statement here, as well as restating why and how you won't repeat history. Could you do that?

    Also, it seems that your trading is purely technical but for checking how big news might affect open trades. Do you mind describing how and when you monitor the market?

    Finally, is Forex trading your main income, and do you have another job?

    Thanks in advance.

    Comment


    • Originally posted by peeper View Post
      Sorry but I don't see any clear statement about max DD (besides an approximation of 20%) and exit strategy. I'd be happy if you could make a clear statement here, as well as restating why and how you won't repeat history. Could you do that?

      Also, it seems that your trading is purely technical but for checking how big news might affect open trades. Do you mind describing how and when you monitor the market?

      Finally, is Forex trading your main income, and do you have another job?

      Thanks in advance.
      Max DD is 20-25%, 25% being the close everything and move on for me. However in the past one year i have touched 17% once and 11% once. MAX DD is not the only exit criteria for me. I have my own indicators and when they say trend changed i might even book losses around 3-5% too, i will not wait till my max DD. i have done this couple of times recently. i watch the markets always except when i am sleeping. if there is news scheduled during my sleep time, i get up before the news and make sure that everything is OK and then i sleep. i also keep a hard SL if there is big news coming up and i may not be at the screen ( say if i dint get up). Yes forex is my main source of income.

      Regardng history repeating, yes history might repeat, but i am a better trader than the time when i took big DD. Apart from this i am taking very very less risk than i used to take, so hitting 25% again, not gonna happen for me. Even before we reach that limit my indicators will tell me to close the trades in loss.
      Trade the market, not the trader

      Comment


      • Thanks a lot. That's a thorough answer. I'll bookmark this post for future referral, though I think you could even add it to the description of your strategy as I think this would be of interest to anyone; if that's relevant to you.

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        • Looking for opportunities in

          USDJPY long
          NZDJPY long
          CADJPY long
          AUDJPY long
          Trade the market, not the trader

          Comment


          • Just wondering if anyone else missed the USDJPY trade today, whats weird is it does not even show in my signal control panel nor on compare trades, the last is from the 17th

            but both the master and nicks account have this trade still open

            11.21.2014 04:17 USDJPY Buy 0.01 117.377 - 132.30 3.79 38.60 0.0 +0.22%

            Many thanks

            //Ben

            Comment


            • I have it..

              Edit: Axi. Slippage 3.
              Last edited by peeper; 11-22-2014, 11:46 PM.

              Comment


              • I have it. Axi. Slippage 3.

                Comment


                • Hey guys and SmartTrader,
                  I am considering a subscription to SmartTrader. I understood quite well the DD policy which I appreciate a lot. I'm interested in getting some more information about "best practice" when following this signal. My broker is Armada Markets, I have an account with 1:500 leverage. My broker charges me the spread, there are no fees for traded volumes. Is this configuration suitable for following this signal?
                  Also I have a question about the risk multiplier. What risk multiplier do you guys use? I know most people follow FX Viper at 2x risk multiplier. How about smart trader? Does anyone use more than 1x multiplier? Based on statistics, I want to run this signal max. at 0.5x risk and make it a part of my portfolio. What should I be worried about?

                  Thank you very much for your recommendations, tips, and sharing experience.

                  Cheers to you.

                  Comment


                  • Thanks for the clarification, hmm that's a shame, well of I get lucky an it dips down ill add it manually.

                    I like this system entries to market an when they are not so often its sad to miss one..

                    Great trading Vijay none the less ��

                    Comment


                    • Vijay,

                      im re-assesing my risk profile going forward,

                      as there has been changes over the year,

                      could you please clarify the lastest definitive answer on dd levels,

                      ive got Smart trader - historic is about 25% but you have since traded smaller lots an only once since hit 17% usually booking losses in the 3-4% range,
                      is this DD a sliding scale, ie will your lots ever increase with balance? im fairly confident the answer is no here..
                      so if it is a no, what account size was the 25% originally in reference too?? i.e min 2k to follow 1:1 ratio of P/L

                      Smart trader has had quite a few changes, ingnoring before the big loss, am i correct that size loss day, it is now 15% unmanged EA, DD allowed, then at 15% alarm bells go, at that point it is watched/manually managed if needed, and now the uppermost threshhold is 30%? giving you 15% dd to work with,
                      if correct how was this changed implemented, its hard to tell as with the loss your trade size changed as this method compunds/grows with account size, i know we are dynamic now on distance between trades, but where was the 10% dd risk taken away from, old mad dd was 40% 5 trades and 150 pips give or take, i hope i make sense,

                      you latest system, what capital is the % loss calculated on? for the max 10%, i.e lower boundry, dont want to be caught with a 20% cause i didnt understand correctly, also is there any filter for spread so sytem does not enter sayy nzd during maket open where spread are wide?

                      Many thanks for all you do,

                      hope this task is a easy one!

                      Comment


                      • Great trade on USDJPY , great job Vijay to keep a high Reward/Risk ratio.

                        Thank you Vijay!

                        Comment


                        • Originally posted by dupapa View Post
                          Vijay,

                          im re-assesing my risk profile going forward,

                          as there has been changes over the year,

                          could you please clarify the lastest definitive answer on dd levels,

                          ive got Smart trader - historic is about 25% but you have since traded smaller lots an only once since hit 17% usually booking losses in the 3-4% range,
                          is this DD a sliding scale, ie will your lots ever increase with balance? im fairly confident the answer is no here..
                          so if it is a no, what account size was the 25% originally in reference too?? i.e min 2k to follow 1:1 ratio of P/L

                          Smart trader has had quite a few changes, ingnoring before the big loss, am i correct that size loss day, it is now 15% unmanged EA, DD allowed, then at 15% alarm bells go, at that point it is watched/manually managed if needed, and now the uppermost threshhold is 30%? giving you 15% dd to work with,
                          if correct how was this changed implemented, its hard to tell as with the loss your trade size changed as this method compunds/grows with account size, i know we are dynamic now on distance between trades, but where was the 10% dd risk taken away from, old mad dd was 40% 5 trades and 150 pips give or take, i hope i make sense,

                          you latest system, what capital is the % loss calculated on? for the max 10%, i.e lower boundry, dont want to be caught with a 20% cause i didnt understand correctly, also is there any filter for spread so sytem does not enter sayy nzd during maket open where spread are wide?

                          Many thanks for all you do,

                          hope this task is a easy one!
                          Hi Dupapa,

                          Sorry for missing this post otherwise i would have replied earlier.

                          My lot sizes change as the money increases or decreases in the account. they are based on the MM. i lowest risk will be taking 0.01 lot for every 1000 USD in the account. Recently i have changed the algo a bit. Based on certain criteria i take a little bigger lot size sometimes. Max being 0.01 lot for every 700 USD in the account.

                          Most of the times my DD is below 5%, but once in a while i am crossing 10. its happening about 6 months once. so max DD is max DD. i want you to be prepared for 25%, even if i never hit that DD in my life time.

                          your second para talks about scalper i believe, even though u said its smarttrader. yes, now the EA takes only a max of 4 trades, the lot sizes and the gaps are adjusted based on volatility. After the 4th trade the algo stops trading, and i have to manage the trades manually.

                          My new system is still under testing. I myself am learning and changing few things here and there. i am trading this system as it is a low DD system i wont be losing much. i kept myself a hard 10% equity loss STOP LOSS, as this is a new system and i dont want to risk more than that. This system itself does not lose more than that. i am planning to stop trading few hours before market close on friday and few hours after market open on monday and i also want to stop trading for a day if there is a gap. i need to incorporate these changes in to the system.
                          Last edited by SmartTrader; 12-02-2014, 09:11 AM.
                          Trade the market, not the trader

                          Comment


                          • good work this past month. keep it rolling

                            Comment


                            • Originally posted by EricB View Post
                              good work this past month. keep it rolling
                              Second that.

                              Comment


                              • Yes, I love that this thread remains level-headed in contrast to other threads. I think this sober, long term commitment that Vijay seems to have, will eventually talk louder than words and bring him the following he deserves. Thank you for being patient and keeping up with the good work Vijay!

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