Usman Maqbool
Hello Subscribers.
We will return Monday after RBA interest rate decision with GBP/AUD pair, same system. This time will increased distance of 100 pips between trades and starting lot size 0.01. This is an attempt to lower risk until brexit. By the increasing the distance between trades, we can withstand a lot more volatility with relatively smaller lot sizes in a basket of trades. thanks
We will return Monday after RBA interest rate decision with GBP/AUD pair, same system. This time will increased distance of 100 pips between trades and starting lot size 0.01. This is an attempt to lower risk until brexit. By the increasing the distance between trades, we can withstand a lot more volatility with relatively smaller lot sizes in a basket of trades. thanks
· 2
Usman Maqbool
Guys also look at the gold digger test account. XAUUSD normally has a very clean reaction. Just throwing it out there that this pair can be traded on conservative settings until the brexit thing is over in PA real account. Let's open for comments and see what everyone thinks. thanks
· 1
Michael Poepel
2016.04.29
Gold Digger is looking very good on the signals side. I am also running an ICMarkets Demo02 Account, balance 10,000€. But high slippage is destroying the result on my account especially at night after 10 p.m. UTC). Hopefully a solution will be found...
olatunde jimoh
2016.04.29
i suggest, you should stick to the strategy you know very well, because some people are not fully recover from drawn down, continue to make more research on your gold digger and if you are 70% confident, i will follow you
durian
2016.05.01
usman, I'm in the US and the only brokers I can register with only offer 1:50 leverage max.. is this copy trade still do able? Would I just have to use 10x the deposit to match yours?
Usman Maqbool
Hello subscribers,
We will return to trade after Monday RBA interest rate decision and there is China PMI data coming out on Saturday as well. Both will be very high impact news and there is a chance of gap up or down for GBPAUD depending on bad or good Chinese data for the weekend. thanks.
We will return to trade after Monday RBA interest rate decision and there is China PMI data coming out on Saturday as well. Both will be very high impact news and there is a chance of gap up or down for GBPAUD depending on bad or good Chinese data for the weekend. thanks.
· 3
DutchTreat
2016.04.28
Please stick to your own strategy and tradingstyle with GBPAUD and do not get distracted by nervous subscribers! There will be always a big risk and danger in trading FX and there will be also an event some day....Brexit, Greece, Central Bank interest rate decisions, PMI's, FOMC's, wars etc. etc. It has been for decades like this and it will not change. Only the frequency changed. The biggest impact are those events which are not announced, like 911.... Again, follow your own trading method, nothing else!
Forex-Jedi
2016.04.28
I vote for manual trading combined with fundamental and technical analysis, especially pattern trading and studying the news carefully. And avoid GBP pairs until the Breixit issue is resolved.
Usman Maqbool
Subscribers,
First of all accept my apologies for the stress caused by this roller coaster ride last night. I did the best that I could and recovered as much as I could last night. The brexit BS has kept all of us on our toes for couple of weeks now. For now we are staying out of the market and pass FOMC. I am working on a plan and considering few options i.e.
Immediate options:
1)
lower the risk, increase the gap between trades, use equity guardian EA to monitor the running negative and set an automated hard stop if running negative reaches e.g -10% and start fresh.
or
2)
Avoid GBP pairs altogether until we pass Brexit event and use other pair and Equity guardian EA.
Near future options
1)
Trend Trade manually from daily charts with 2%-3% risk per trade with SL and TP at least 2 to 5 times of the risk that we take. With trend trading we reap bigger profits in few trades and small losses for the rest but overall it's less stress and safe guard the account. With this you hand pick trades from any major pair/cross pair that present the best odds of winning based on fundamentals and technical patterns.
2)
Use a grid system without martingale effect only in the direction of the trend with Guardian EA to protect the downside.
IF I think of more options I will keep adding to the list here.
Suggestions are welcome. Hang in there.
thank you for your patience.
First of all accept my apologies for the stress caused by this roller coaster ride last night. I did the best that I could and recovered as much as I could last night. The brexit BS has kept all of us on our toes for couple of weeks now. For now we are staying out of the market and pass FOMC. I am working on a plan and considering few options i.e.
Immediate options:
1)
lower the risk, increase the gap between trades, use equity guardian EA to monitor the running negative and set an automated hard stop if running negative reaches e.g -10% and start fresh.
or
2)
Avoid GBP pairs altogether until we pass Brexit event and use other pair and Equity guardian EA.
Near future options
1)
Trend Trade manually from daily charts with 2%-3% risk per trade with SL and TP at least 2 to 5 times of the risk that we take. With trend trading we reap bigger profits in few trades and small losses for the rest but overall it's less stress and safe guard the account. With this you hand pick trades from any major pair/cross pair that present the best odds of winning based on fundamentals and technical patterns.
2)
Use a grid system without martingale effect only in the direction of the trend with Guardian EA to protect the downside.
IF I think of more options I will keep adding to the list here.
Suggestions are welcome. Hang in there.
thank you for your patience.
· 10
Timo Schroeter
2016.04.27
Resizing the grid could lead to trades that are open for a long time before they close. This will kill the performance.
Also Brill and vudakov are right. If its a different strategy, it should be a new signal.
If you want to avoid the GBP pairs, which ones would you trade then?
Also Brill and vudakov are right. If its a different strategy, it should be a new signal.
If you want to avoid the GBP pairs, which ones would you trade then?
shloss
2016.04.27
First I want to say thank you Usman for your great job during the last hours-days. It could have better ending, but it could have been also much worse. I would have secured half of the profit lots before the US opening, but I was busy and it's too easy to speak now.
And especially thank you for the communication to the subscribers, great job again!
Regarding the future, I think planning on the calendar and judging the fundamentals could be the winning key, and I am speaking about _early exits_. They should always be an option on the table, and the right size on my opinion is the 1%-3% DD limit, money which can be normally gained during the following days (when maybe we are struggling and hoping and losing time also).
My wishes:
1) _early exits_ should be decided upon fundamental reasons or external unexpected variables, like the Obama speach of last week.
2) _early exits_ become more and more important as big news are approaching, and I mean even if the big news are 2 or 3 days in advance.
3) an early exit could also mean an inversion of the trade hedging with double lot size of the initial trades, your choice, situation by situation
4) I wouldn't mind if you switch to some scalping on news days when the EA is off..., you proved to be pretty good at it! Those who don't like that can always suspend the signal if you inform us in advance.
5) Finally, if you can manage it, I am in favour of diversification with another pair, as much as possible not correlated to GBPAUD but suitable to your "style" and fundamental knowledge.
And especially thank you for the communication to the subscribers, great job again!
Regarding the future, I think planning on the calendar and judging the fundamentals could be the winning key, and I am speaking about _early exits_. They should always be an option on the table, and the right size on my opinion is the 1%-3% DD limit, money which can be normally gained during the following days (when maybe we are struggling and hoping and losing time also).
My wishes:
1) _early exits_ should be decided upon fundamental reasons or external unexpected variables, like the Obama speach of last week.
2) _early exits_ become more and more important as big news are approaching, and I mean even if the big news are 2 or 3 days in advance.
3) an early exit could also mean an inversion of the trade hedging with double lot size of the initial trades, your choice, situation by situation
4) I wouldn't mind if you switch to some scalping on news days when the EA is off..., you proved to be pretty good at it! Those who don't like that can always suspend the signal if you inform us in advance.
5) Finally, if you can manage it, I am in favour of diversification with another pair, as much as possible not correlated to GBPAUD but suitable to your "style" and fundamental knowledge.
haydz27
2016.04.28
I like the idea of trend trading. Regarding the current strategy, fundamentals really need to be taken into account. For example it was common knowledge this week will be a volatile week due to news. It was also common knowledge Australia CPI was most likely going to be negative, therefore affect our trades in a negative way. This prompted me to want to hedge our trades by buying the pound before the news release occurred giving a tidy profit. But before even getting into this situation early exits with a small loss is best when such huge news affecting both pairs are on the horizon.
Usman Maqbool
I am trying to get rid of sells and opened buy positions to align with the gbp bullish momentum and also worse aud cpi number. chances to win is on the buy side. The idea is to recover the loss from closed sell trades with new buy orders to at least bring the account back to where we were. sit tight. buy side chance is higher. off course no guarantee but trying best here. This pair is beast and with fundamentals and bulls in control going into the aud worse news. I am certain we will come out of the sell loss + some more money. thanks
· 3
Timo Schroeter
2016.04.27
@sajjadmun: You have to go to the MT4 -> Options and disable the signal. Then you can close the open positions and they will not be reopened again.
You can enable it again when Usman is finished.
You can enable it again when Usman is finished.
kumawat
2016.04.27
I closed my trades with 100 loss and i thought i did early but now i can see usman closed with a loss of 500 i feel i did right thing was not greedy. i do not know why he did not closed at BEP he got two chances today.
I hope he should start after Us news and should be out of trades in next week AUD RBA interest rate, there is big possibility that RBA will cut rate and GBPAUD can up again. so very careful till next week RBA news.
I hope he should start after Us news and should be out of trades in next week AUD RBA interest rate, there is big possibility that RBA will cut rate and GBPAUD can up again. so very careful till next week RBA news.
Usman Maqbool
I expect the sentiment to shift in favour of AUD against the GBP at least until before the news time because of AUD CPI news this evening. It is called sentiment trading where traders are either closing/reducing their GBP/AUD buy exposure by booking partial/full profits and others trying to pick top and shorting the pair in an anticipation of WHAT IF the number comes out in a favour of AUD.
· 11
Vi Dam Van
2016.04.27
@Timo Schroeter: I dont hate him and other person. We are retail trader, I dont want you, him or orther person lose. I say my best experience for him and other person. You want to lose 20% or 50% or blow your acc? If now GBPAUD drop 100 pip or 200 pip, what happen with your acc? Trading is business, it is not gambing. Final my comment. Thanks!
Usman Maqbool
Hello,
I have changed the distance between the orders from 50 to 100 pips for any new trades so that we don't open too many positions in case if the price keep going against us.
I have changed the distance between the orders from 50 to 100 pips for any new trades so that we don't open too many positions in case if the price keep going against us.
· 8
Usman Maqbool
Just in case if anyone wondering where are the other showcase accounts. I have deleted those accounts from mql5.com and left one showcase account here just to make the point that it is important to withdraw funds on regular basis until at least you recover your initial deposit and from there it's free ride. I got caught in GBP/NZD sell basket and decided to cut the loss and move on. thanks.
· 4
Brill
2016.04.26
Well, the GBPUSD trend probably changed. There always are retracments, but "yesterday, the pair moved above - and closed above - the 100 day MA for the first time since September 18th" (from ForexLive technical analysis).
Two high impact news come out tomorrow: AUD -> CPI q/q and GBP -> Prelim GDP q/q. Hmm, it is not for the faint-hearted...
Two high impact news come out tomorrow: AUD -> CPI q/q and GBP -> Prelim GDP q/q. Hmm, it is not for the faint-hearted...
Usman Maqbool
Hello,
In my opinion GBP weekend strength is over stretched and came from several comments from high impact individuals in favour of UK to stay in EU including Obama and others. Otherwise there isn't any other fundamental reason to support GBP sudden strength. We should be able to come out with a profit but I will keep an eye on the trade basket for Breakeven exit if needed. This is the name of the game. Do not panic and always trade conservative. For those of you, who were looking for higher lots to trade, this is a stress test and you can see yourself that things can become get ugly very quickly in FX and markets.
thanks.
In my opinion GBP weekend strength is over stretched and came from several comments from high impact individuals in favour of UK to stay in EU including Obama and others. Otherwise there isn't any other fundamental reason to support GBP sudden strength. We should be able to come out with a profit but I will keep an eye on the trade basket for Breakeven exit if needed. This is the name of the game. Do not panic and always trade conservative. For those of you, who were looking for higher lots to trade, this is a stress test and you can see yourself that things can become get ugly very quickly in FX and markets.
thanks.
· 11
Timo Schroeter
2016.04.25
@vhervatin: Thats not the same situation. We dont have 10% drawdown yet but you already 40%.
But it can get worse very fast if the pair doesnt come back soon.
But it can get worse very fast if the pair doesnt come back soon.
Forex-Jedi
2016.04.25
Obama is threatening London with "Brexit-penalty", they say it can take up to 10 years to establish new economic agreements between the USA and Britain.
It doesn´t matter what we think about the probability of the Brexit, but it matters what the majority of traders in the world thinks. Does anybody know how Cameron reacted to that threat? Is Britain giving in? I think they said the don´t want Obama to interfer. However, British economic minister also says Brexit would be bad for economy.
It doesn´t matter what we think about the probability of the Brexit, but it matters what the majority of traders in the world thinks. Does anybody know how Cameron reacted to that threat? Is Britain giving in? I think they said the don´t want Obama to interfer. However, British economic minister also says Brexit would be bad for economy.
Vitor Hervatin
2016.04.25
@Timo: I know this, look de description of the signal that a sent the link:
"Dear All, many of you asking me to update the situation, and the following just to make you all relax, and no worries, i did say before that GBP AUD may be rise more 100 pips, even if reach 1.8820 it will go down, and the plan that i will keep hold, and sell another trade from this level, to close all in ZERO profit - ZERO loss"
"Dear All, many of you asking me to update the situation, and the following just to make you all relax, and no worries, i did say before that GBP AUD may be rise more 100 pips, even if reach 1.8820 it will go down, and the plan that i will keep hold, and sell another trade from this level, to close all in ZERO profit - ZERO loss"
Usman Maqbool
I am getting messages to take early profit for the current running basket. We don't want to take early profits for the risk that we take to make money. Let the price come to us. Early TP is considered only under exceptional circumstances where the stake is too high or market shaking event is on the horizon.
I will consider closing the basket before the market close today if it's close to our TP.
relaxed and have a wonderful weekend . Cheers !
I will consider closing the basket before the market close today if it's close to our TP.
relaxed and have a wonderful weekend . Cheers !
· 12
Timo Schroeter
2016.04.24
It seems that we will have a gap UP: http://www.xe.com/currencycharts/?from=GBP&to=AUD&view=12h
Usman Maqbool
Verba-Volant: I got your point. With smaller deposit accounts having two pairs will open 0.01 lot on each pair for a total of 0.02 where as with just one pair there will be only 0.01 lot exposure. Let's keep this signal as is and in the future I will open another signal with more pairs and it will be subscribers choice to subscribe either one based on their account balance.
· 10
Brill
2016.04.14
I think the BOE Minutes are more or less neutral. The too good Aussie employment figures are worrying for GBPAUD long. Is 1.8250 the next target?
Usman Maqbool
Hello everyone, The reason to include GBPNZD & EURNZD along side with GBPAUD in demo is because with a lot of testing live, I have come to the conclusion that breaking the total initial lot size among few pairs can provide better trade frequency and profits with better and smooth equity curve as the exposure to different currencies and pairs can work to our benefit. A lot of the time it provides cross hedge e.g sometimes GBPAUD is short & GBPNZD is long and that is how GBP is hedged. Look at the GBP maxgrinder free demo signal and it's performance.
I also have one other real account trading gbpaud, gbpnzd, gbpjpy, audjpy, eurnzd, gbpcad and the performance is very good with very low drawdown. The important part is risk management i.e. the total initial lot size has to be the same. Rather then running the system with 0.06 initial lot size on GBPAUD, it's better to divide it into 0.02 and launch it on 3 pairs for a total initial lot size of 0.06.
Eventually I want to do the same with Pound Aussie Real account as well where we should divide the initial lot size of 0.02 into two 0.01 each on gbpaud & eurnzd as this will limit the exposure to each individual currency and rather then having two currencies, we will have 4 currencies. Trust me on this one. I know the system and thinking in everyones best interest.
I know a lot of subscribers say that don't fix it if it isn't broken but this is to improve the existing system for the same amount of RISK which is the most important factor. thanks.
I also have one other real account trading gbpaud, gbpnzd, gbpjpy, audjpy, eurnzd, gbpcad and the performance is very good with very low drawdown. The important part is risk management i.e. the total initial lot size has to be the same. Rather then running the system with 0.06 initial lot size on GBPAUD, it's better to divide it into 0.02 and launch it on 3 pairs for a total initial lot size of 0.06.
Eventually I want to do the same with Pound Aussie Real account as well where we should divide the initial lot size of 0.02 into two 0.01 each on gbpaud & eurnzd as this will limit the exposure to each individual currency and rather then having two currencies, we will have 4 currencies. Trust me on this one. I know the system and thinking in everyones best interest.
I know a lot of subscribers say that don't fix it if it isn't broken but this is to improve the existing system for the same amount of RISK which is the most important factor. thanks.
· 3
Jonathan Okudzeto
2016.04.12
@ Khoa Le yes the maxgrinder was destroyed by gbpjpy pair and I think is a wake up call to avoid all JPY pairs on this system since they can have extensive moves in one direction without a decent retracement
Usman Maqbool
2016.04.13
MaxGrinder was just for a casual test on demo to see what it does and yes JPY pairs don't make sense most of the time and I don't trade them.
Jack Pott
2016.04.19
Hi Usman, love the idea, but please, please, please keep Pound Aussie Real as it is and create a new signal with your mix of currencies so we have choice. I'm pleased with it so far, apart from the knock in Feb!
Usman Maqbool
Make sure the slippage / deviation is set to 5 . And copy tp/sl option checked.
· 2
Jackal23
2016.04.04
pmks, mate dont worry about the pair on demo. Focus on how the system works to prevent from confusion as we might up to 30% drawdown before we can recover. To anwer your question though, gbpaud is the only pair for real account.
Usman Maqbool
2016.04.04
Hello everyone, The reason to include GBPNZD & EURNZD along side with GBPAUD in demo is because with a lot of testing live, I have come to the conclusion that breaking the total initial lot size among few pairs can provide better trade frequency and profits with better and smooth equity curve as the exposure to different currencies and pairs can work to our benefit. A lot of the time it provides cross hedge e.g sometimes GBPAUD is short & GBPNZD is long and that is how GBP is hedged. Look at the GBP maxgrinder free demo signal and it's performance.
I also have one other real account trading gbpaud, gbpnzd, gbpjpy, audjpy, eurnzd, gbpcad and the performance is very good with very low drawdown. The important part is risk management i.e. the total initial lot size has to be the same. Rather then running the system with 0.06 initial lot size on GBPAUD, it's better to divide it into 0.02 and launch it on 3 pairs for a total initial lot size of 0.06.
Eventually I want to do the same with Pound Aussie Real account as well where we should divide the initial lot size of 0.02 into two 0.01 each on gbpaud & eurnzd as this will limit the exposure to each individual currency and rather then having two currencies, we will have 4 currencies. Trust me on this one. I know the system and thinking in everyones best interest.
I know a lot of subscribers say that don't fix it if it isn't broken but this is to improve the existing system for the same amount of RISK which is the most important factor. thanks.
I also have one other real account trading gbpaud, gbpnzd, gbpjpy, audjpy, eurnzd, gbpcad and the performance is very good with very low drawdown. The important part is risk management i.e. the total initial lot size has to be the same. Rather then running the system with 0.06 initial lot size on GBPAUD, it's better to divide it into 0.02 and launch it on 3 pairs for a total initial lot size of 0.06.
Eventually I want to do the same with Pound Aussie Real account as well where we should divide the initial lot size of 0.02 into two 0.01 each on gbpaud & eurnzd as this will limit the exposure to each individual currency and rather then having two currencies, we will have 4 currencies. Trust me on this one. I know the system and thinking in everyones best interest.
I know a lot of subscribers say that don't fix it if it isn't broken but this is to improve the existing system for the same amount of RISK which is the most important factor. thanks.
Usman Maqbool
Dear Subscribers:
I want to thank all of you for your trust and support in this system and myself as we have now achieved a $1mill mark in combined subscribers funds.
Stay blessed & prosper.
Best regards
Usman
I want to thank all of you for your trust and support in this system and myself as we have now achieved a $1mill mark in combined subscribers funds.
Stay blessed & prosper.
Best regards
Usman
· 11
Usman Maqbool
2016.04.01
ryanmcleod7 - thank you for your comments. No one else has reported this issue yet. everyone please make sure that slippage/deviation is set to 5 and use a good vps service. thanks.
brucekiddo
2016.04.01
Hi usman. First of all, thanks for being a straight forward person who cares about his subscribers. Which vps do you recommend and which one do you use personally. What's your view on the built in hosting service in mt
Usman Maqbool
2016.04.02
Bruce - \Thank you for your comments. I've been using beeksfx for over two years now and it's an excellent vps provide made by traders for trader. Even their basic bronze package can run few mt4 instances smoothly for you. They even have this POM application that you can start up to auto start your mt4 platforms in case of vps reboot. They never do the updates during the week. cheers.
Usman Maqbool
Important announcement:
I am still working on it. We might have to switch to take sell only trades for GBP/AUD because of the BREXIT coming soon and put options surge for GBP is soared and options traders can not be ignored as it's smart money playing in options for the most part including company hedging their GBP exposure. Uncertainty created by Brexit can differ UK central bank to even think about any rate hikes in near future. The bottom line is that the probability of GBP weakness is higher than the GBP strength. Nobody has the magic stick but we can stay chose to swim with the tide rather than against the tide.
The other option could be that we stay away from EUR & GBP as both will have very high volatility as we are getting close to 23 June 2016 and chose to trade a pair that has volatility but has no direct exposure to EUR & GBP. Comments are welcome. thanks
I am still working on it. We might have to switch to take sell only trades for GBP/AUD because of the BREXIT coming soon and put options surge for GBP is soared and options traders can not be ignored as it's smart money playing in options for the most part including company hedging their GBP exposure. Uncertainty created by Brexit can differ UK central bank to even think about any rate hikes in near future. The bottom line is that the probability of GBP weakness is higher than the GBP strength. Nobody has the magic stick but we can stay chose to swim with the tide rather than against the tide.
The other option could be that we stay away from EUR & GBP as both will have very high volatility as we are getting close to 23 June 2016 and chose to trade a pair that has volatility but has no direct exposure to EUR & GBP. Comments are welcome. thanks
· 10
Chartpunk
2016.03.31
Did You ever tryed your Signal on EUR/CHF? Since 2015.08.20 till now only 491 pips between the lowest low and the highest high.
Usman Maqbool
2016.04.01
Chartpunk - believe it or not we need volatility for this system. eurchf does not work.
Jack Pott
2016.04.20
I vote to pause the system over the Brexit period, I think it will be very volatile! Carry on after as we are now.
Usman Maqbool
We should hit TP soon or stay in the trade. The most amount of money that I have made is when limit the intervention to it's minimum and stay in the game and let the system work itself out otherwise you limit the probability of winning by keep making changes. This is the reason why I concentrate on starting with smaller risk trades and don't increase the risk. I have received few messages about closing the trade at BE or why did the system sell if the trend was down etc.
- First of all leave your account alone. The more you think the more you will over analyze and it will mess up with your mind and ultimately your account.
- For those who love trend trading systems, this signal is not for you as this is not a trend trading system. May be you need to understand trend trading first. You need more stomach for trend trading. In trend trading you take more losses when the markets are ranging and few profitable trades when the markets are trending but because you reap bigger profits when markets are trending so your losers are compensated with fewer profitable trades given that you don't jump of the wagon early in the trend. And as per the stats markets are ranging 80% of the time and trending only 20% of the time. Given the stats, you only risk 2-3% per trade and hope to catch the trend.
Trust me you won't be happy with trend trading either and please don't leave unthoughful feedback. There is a lot of effort behind this business and feedback should be fair after few months of subscription. thank you
- First of all leave your account alone. The more you think the more you will over analyze and it will mess up with your mind and ultimately your account.
- For those who love trend trading systems, this signal is not for you as this is not a trend trading system. May be you need to understand trend trading first. You need more stomach for trend trading. In trend trading you take more losses when the markets are ranging and few profitable trades when the markets are trending but because you reap bigger profits when markets are trending so your losers are compensated with fewer profitable trades given that you don't jump of the wagon early in the trend. And as per the stats markets are ranging 80% of the time and trending only 20% of the time. Given the stats, you only risk 2-3% per trade and hope to catch the trend.
Trust me you won't be happy with trend trading either and please don't leave unthoughful feedback. There is a lot of effort behind this business and feedback should be fair after few months of subscription. thank you
· 9
Usman Maqbool
2016.03.23
The reason why I did that is because it was between/around London close and NY after lunch and no point keeping for few more points as things can get weird i.e spread widening and tonight is UK retail sales data.
Most importantly:
- Implied volatility on three-month sterling/dollar options, covering the period that includes the "Brexit" referendum on June 23, soared to 14.50, the highest level since mid-2010.
- The three-month sterling/dollar risk reversals, a gauge of demand for options on a currency rising or falling, showed an increasing bias for sterling weakness against the dollar, trading at 4.5 vols - a measure of volatility - compared with 2.4 vols in favour of sterling weakness on Tuesday.
- According to Reuters charts, these were levels last seen in the wake of the May 2010 general election, which resulted in a coalition government, and show a bigger skew in favour of sterling weakness than seen during the global financial crisis in 2008.
Most importantly:
- Implied volatility on three-month sterling/dollar options, covering the period that includes the "Brexit" referendum on June 23, soared to 14.50, the highest level since mid-2010.
- The three-month sterling/dollar risk reversals, a gauge of demand for options on a currency rising or falling, showed an increasing bias for sterling weakness against the dollar, trading at 4.5 vols - a measure of volatility - compared with 2.4 vols in favour of sterling weakness on Tuesday.
- According to Reuters charts, these were levels last seen in the wake of the May 2010 general election, which resulted in a coalition government, and show a bigger skew in favour of sterling weakness than seen during the global financial crisis in 2008.
Timo Schroeter
2016.03.23
I agree with what Usman said about the bad rating for his signal. You just can't give a bad (1 star) rating with only 5-10% drawdown we had yesterday. The losses from february are nearly recovered and you give a bad rating?!
From what I read in some comments it sems that a few people doesn't have the same deposit (= 100% volume conversion) and suffer higher drawdowns and/or losses.
From what I read in some comments it sems that a few people doesn't have the same deposit (= 100% volume conversion) and suffer higher drawdowns and/or losses.
Brill
2016.03.24
It is reassuring that Usman has a broad perspective on the economic factors which are affecting trading. I am happy with the profit we realized on the last progression. In trading, and in our live in general, we always can say "it could have been better". Safety of the traders fund is first, profit is second.
Usman Maqbool
Your suggestions/comments are of great importance to me and for now I am not adding GBP/NZD to the master signal account but I have added it to the SHOWCASE # 5 account and you can track the performance here:
https://www.mql5.com/en/signals/161764
https://www.mql5.com/en/signals/161764
· 2
Daniel Hoop
2016.03.18
I think for safety reasons you should not combine the pairs. As Brill suggested you could open a new signal and combine the two pairs there. Did you also try AUDNZD? Seems a fairly volatile pair with no major trends.. .
Yang May Leong
2016.03.22
Hi seems to be a bit counter trend these few days, but we managed to survive. Not sure how you trade, but on H1 chart SMA is down and buy trades started. I hope we ride this out!
Timo Schroeter
2016.03.22
Looks like GBP is under pressure here. But it makes the possible profit bigger. Just dont let the drawdown get too high :)
Usman Maqbool
Hello subscribers,
System halted.. We will pass UK interest rate decision and return to trade in few hours. There is no point participating in potential excessive volatility around such events although I don't expect any major surprises from the central bank at this point.
Thanks
System halted.. We will pass UK interest rate decision and return to trade in few hours. There is no point participating in potential excessive volatility around such events although I don't expect any major surprises from the central bank at this point.
Thanks
· 11
MarcelRamon
2016.03.17
Good decision! This shows why u are one of the best traders/signal providers here on mql5. You communicate, with your subscriber. In regular Intervals.
Usman Maqbool
2016.03.17
Your suggestions/comments are of great importance to me and for now I am not adding GBP/NZD to the master signal account but I have added it to the SHOWCASE # 5 account and you can track the performance here:
https://www.mql5.com/en/signals/161764
https://www.mql5.com/en/signals/161764
Usman Maqbool
Important news:
After the UK interest rate decision I will include GBP/NZD pair along with the existing GBP/AUD pair. GBP/AUD pair initial lot size will remain at 0.02 and GBP/NZD initial lot size will be at 0.01 and stay like this. The overall combined initial lot size will be at 0.03. As per my observation, sometimes both pairs go in one direction and the other times in opposite direction and provides GBP hedge when trading in opposite direction. The reason for the opposite direction sometimes has to do with bit more volatile nature of the GBP/NZD pair as it would book buy or sell trade basket first before the GBP/AUD basket close and initiate the next trade cycle.
Cheers !
After the UK interest rate decision I will include GBP/NZD pair along with the existing GBP/AUD pair. GBP/AUD pair initial lot size will remain at 0.02 and GBP/NZD initial lot size will be at 0.01 and stay like this. The overall combined initial lot size will be at 0.03. As per my observation, sometimes both pairs go in one direction and the other times in opposite direction and provides GBP hedge when trading in opposite direction. The reason for the opposite direction sometimes has to do with bit more volatile nature of the GBP/NZD pair as it would book buy or sell trade basket first before the GBP/AUD basket close and initiate the next trade cycle.
Cheers !
· 1
MarcelRamon
2016.03.17
I'm not sure this is the right decision. 'Never change a running system' as the saying is. I'm at the common stand like Joesocah... your system has been working for month now, like a machine.
Joesocah
2016.03.17
I will advise you maintain only the GBPAUD and trade the way you were doing, don't allow greed to set in by adding another pair. This may lead to a margin call. Thanks
Usman Maqbool
2016.03.17
Your suggestions/comments are of great importance to me and for now I am not adding GBP/NZD to the master signal account but I have added it to the SHOWCASE # 5 account and you can track the performance here:
https://www.mql5.com/en/signals/161764
https://www.mql5.com/en/signals/161764
Usman Maqbool
Hello.
Can anyone make a comment here. I need to find it out for one of the subscribers.
When you subscribe a signal, do you need to run your MT4 platform 24/5 for the signal to copy trades.
Here is my answer: Yes you do. You either need to use MQL5 virtual hosting service or a VPS for the signal to work.
Can anyone make a comment here. I need to find it out for one of the subscribers.
When you subscribe a signal, do you need to run your MT4 platform 24/5 for the signal to copy trades.
Here is my answer: Yes you do. You either need to use MQL5 virtual hosting service or a VPS for the signal to work.
JammyAJ
2016.03.16
Hi Usman, been using the signal about a week. Have been impressed so far.
However the UK budget is today- are you likely to close the trades beforehand or open a sell position (currently 2x buy positions)
Thanks
However the UK budget is today- are you likely to close the trades beforehand or open a sell position (currently 2x buy positions)
Thanks
Usman Maqbool
2016.03.16
I am tracking the upcoming news and I am planning to pass UK interest rate decision and most likely the system will be halted after FOMC today. thanks
And @kronos333 it's your responsibility to ensure your account balance and leverage align with Usman's system, either put in more money or don't use this system. You can't expect Usman to change strategies just for you. What if I only have $100, should Usman change the system for me too?