Clubfx108 - page 7
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Hi. Thanks for your comment.
If you look closely, as of this week (10th Jan) all of our trades on EURUSD have been long.
Also, for your information, we dont only trade the trend - we trade breakouts, counter trend and pivot points too.. The reason why I am referring to a medium term trend in this instance is because we are certain - as things stand today - that the dollar will fall against the euro. Ofcourse, fundamentals could change all that, just like what happened last night with the announcements and this afternoon with retail sales in US).
Hope this makes sense!
Best regards!
Hi clubfx 108 -looks like a good system but appears to behaving execution problems using RAS -have you thought about using zipsignals or offering your signals via demo MT4 account where potential subscribers could use a trade copier?
Hi. Thanks for your comment.
If you look closely, as of this week (10th Jan) all of our trades on EURUSD have been long.
Also, for your information, we dont only trade the trend - we trade breakouts, counter trend and pivot points too.. The reason why I am referring to a medium term trend in this instance is because we are certain - as things stand today - that the dollar will fall against the euro. Ofcourse, fundamentals could change all that, just like what happened last night with the announcements and this afternoon with retail sales in US).
Hope this makes sense!
Best regards!Hi. thanks for the response.
I get your point. but you dind't answer my ponts on money management and risk.
You are risking tons of pips to get a 10 pip profit - that is crazy %R no?
Your trades are short term trades so why are you willing to accept such a huge relative drawdown on trades that dont go in your direction...you recommend 0.1 lots per 1k account, but that is just suicidal money management... with 0.1k lots that should mean each trade should not be risking more than 1-2% of their account per trade at the very maximum (and really it should be smaller than that because of the multiple positions on one pair or dollar equivalent pairs etc).
You say you have reserve equity i.e. a 50k account but other people don't have this luxury...
I just think signal providers need to be much clearer on their exact strategy and what stop losses they use so users can get a clear idea and set their lot size accordingly for sensible money managment based on an exact account size as money management is the most important part of trading and people cant set sensible lot sizes without an idea of stoplosses.
As I said before, if you think the medium trend is bullish EU (personally I think the trend is bearish since the break of the daily TL and we are not in sideways consolidation) then obviously you've picked a bad entry point so why not just accept a loss and get back in at a much better / lower entry point and gain lots of pips on the way up...that way proper money management is observed (you have to ignore the 50k equity thing and assume your users are using 0.1 lots on a 1k account for example and observe normal trading money management).
I'm not trying to be personal against yourselves because there is some really poor signal providers on RAS and you are defintely one of the better ones, but you must appreciate that the level of drawdown and %R that you are advocating on this trade is not particularly sensible for most people with small accounts...which will the the majority of people that probably use RAS as the level of drawdwon (%of account) is just crazy.
Hi
Thanks once again for your message. I do understand your point and I do understand your concern. This is a semi - automatic system which is being traded on a 50K account. You may not have that luxery, which is why you are being told to trade 0.1 lots - which is still aggressive (as stated a number of times before). Drawdown looks huge on the RAS graph because that chart started off with just $1000. Drawdown on our account is a drop in the ocean compared to this - and for many of you it should also be if you have used the correct lot size!
This is semi automatic in the setnse that the EA identifies the trades to open (based on breakout or stochastic or S&R etc). Unless something crazy happens over the weekend, the market should rejoin the upwards trend. I have said this a number of times now - if you feel you cannot handle any more downward movement it may be best to close positions (I know you have done so).
Regarding the multiple trades - the idea WAS to open 3 positions, close one 10/15 pips, a second at about 25 pips and the third to run with a trailing stop. We have not had a chance to exercise this yet.
We are revising the way we trade soon - these multiple trades are confusing the hell out of people. After this trade is closed, you'll see single EURUSD trades only.
Will see how the first few days of this week pan out - may take a hit we are trading about 125 pips down (dont forget, our SL is about 150-200 pips).
I do understand your frustration - bear with us. After this more aggressive method we are to introduce the 'slow and steady' way which has made our accounts profitable time and time again!
Happy trading!
Dont panic guys. Things have been modified and we are now being conservative. We will certainly make up that loss and more!
Regards!
I've lost 2,100$ last Frieday with your Signal.(initial deposit 7,500) Of course, it was my own mistake. I saw, that the win quote was very good, so i took a 1.0 Lot - very big mistake. Now i set the lot multiplier to 0.2. But after seeing, that 4 positions with 0.2 are opend(your initial size is1.0) i set the multiplier tomorrow to 0.1.
The matter, why i dont like 0.1 with your signal: Sometimes, you trade 1.0 and sometimes 0.25.
The Main Problem is, my min lotsize is 0.1.
With a multiplier of 0.2:
1.0 --> 0.2
0.25 --> 0.1 (rounded)
but with multiplier of 0.1:
1.0 --> 0.1
0.25 --> 0.1
Is this ok or not so ideal?
Next problem is, often you trade 4x1.0 Lot. Even with multiplier, that would bei 4x0.1=0.4 Lots. But i "think" that would be ok. It's compatible with MM(5,000$-6,000$ --> max 0.5-0.6 Lots using in on session).
As i wrote in the RAS Comments: I think still, that your signal service is very good. Great work, and Keep it up!
Edit: i've closed the three usdchf positions and set lot multiplier to 0.1 now. My smallest possible value.(ecn provider).
Greetings
Club FX - As per my previous post, please can you share your strategy when it comes to stop losses.
As we cannot manually add our own SL to each trade (as these are overwritten by RAS) in order for users to decide the appropriate lot size for them to meet their risk appetite it would be very helpful if not necessary to know your SL strategies:
- do you use the same SL for each trade?
- Presuming not, do you use a standard SL per currency?
- If not is there an average SL you can share with us from past trades e.g. SL can vary between 50 pips to 200 pips with the average SL being 100pips...
Thus we could then set our lot size dependant on risking x% per trade (taking into account potential currency accumulation e.g. multiple trades per pair - like the 3 UC trades on at the moment and also USD / JPY accumulation overall at any one time) to achieve a sensible / normal money management regime and than can asses the real potential / expected return.
Without this insight it is extremely hard to set proper money management and set an appropriate lot size and also assess profit potential.
Money management should be something that a user can determine based on information from the signal provider to suit their own account balance and risk appetite e.g. if I only want to have 5% of my account at risk at any one time and 3% to USD exposure and 0.5% to any one trade then I need to know the above information, much like anyone who trades their own account from their own trade would do...
Other signal providers state you should risk no more than x% per trade based on an average SL of x pips which is extremely helpful and essential.
Many thanks
Well... I'm done with this one. I'm probably blind but I really can't see any exit strategy, just hopless trades... three sell usdchf orders opened, after all that eurusd drawdown it is all hapening again.
I will stay until see this conclusion and then quit, good luck for you guys.
Dont panic guys. Things have been modified and we are now being conservative. We will certainly make up that loss and more! Regards!
So you repeat the same crap trades in another pair?
Save your testing for a demo account, not ours. This kind of trading isn't what got you all your subscribers.
Well... I'm done with this one. I'm probably blind but I really can't see any exit strategy, just hopless trades... three sell usdchf orders opened, after all that eurusd drawdown it is all hapening again. I will stay until see this conclusion and then quit, good luck for you guys.
I'd have to agree with you on this