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
Usman Maqbool
Showcase#1 account was moved to archives by MQL5 because when you withdraw all the funds from the account, it can not be displayed in signals. $4,850.00 CAD deposited on 21 OCT 2015 and $11,174.57 withdrawn on 26 Feb 2016. Net profit = $6,174.57.
· 5
Usman Maqbool
AUD/CAD trade setup based on Techs & fundamentals: (Wise with your money because the risk is yours)
This is a manual trade setup for those who like to trade other pairs as well. Please don't trade in your signal account.
I am in before the daily close today because I am confident due to price action setup.
SL = 0.9890 (my SL is tight)
TP = open , first target is 1.0060
My entry = 0.9924
Normal entry should be 0.9960 (after daily close today)
This is a manual trade setup for those who like to trade other pairs as well. Please don't trade in your signal account.
I am in before the daily close today because I am confident due to price action setup.
SL = 0.9890 (my SL is tight)
TP = open , first target is 1.0060
My entry = 0.9924
Normal entry should be 0.9960 (after daily close today)
· 2
[Deleted]
2016.03.09
Hi
You've had 7 signals. Why one signal is deleted ?
What happened to him ?
You've had 7 signals. Why one signal is deleted ?
What happened to him ?
Usman Maqbool
2016.03.09
Glad you asked. It was showcased account # 1. It was moved to archives by MQL5 because when you withdraw all the funds from the account, it can not be displayed in signals. $4,850.00 CAD deposited on 21 OCT 2015 and $11,174.57 withdrawn on 26 Feb 2016. Net profit = $6,174.57. Cheers.
Usman Maqbool
Hello Subscribers,
System off. We will pass non-farm situation today.
System off. We will pass non-farm situation today.
· 5
Usman Maqbool
2016.03.04
yes through most of nfp since the start of signal account. all the other showcased accounts were trading through this morning nfp.
[Deleted]
2016.03.06
Hi Usman, - great to see an active and succesfull trader discussing with the subscribers. I have one question Usman, which i, - so far - cannot find an answer to ... What is the difference between your free signal, and the payed one ?
Usman Maqbool
2016.03.06
pmks - Thank you for your comments. There is no difference but as you might know that demo vs real price feeds are normally bit different and for that reason buys & sells can be triggered at different levels which makes the trades and results bit different. cheers !
Usman Maqbool
RBA rate on hold. Low inflation may provide scope for easier policy
The decline in Australia's terms of trade has continued.- Available information suggests that the expansion in the non-mining parts of the economy strengthened during 2015 despite the contraction in spending in mining investment. - This was reflected in improved labour market conditions. - The pace of lending to businesses also picked up.
The decline in Australia's terms of trade has continued.- Available information suggests that the expansion in the non-mining parts of the economy strengthened during 2015 despite the contraction in spending in mining investment. - This was reflected in improved labour market conditions. - The pace of lending to businesses also picked up.
· 5
Usman Maqbool
2016.03.01
This is the 9th consecutive policy decision where RBA left rates unchanged in its current easing cycle
Petr Vegh
2016.03.03
Your system looks good although it's martingale. I am using EA myself as well. I think the best results are achieved by combining EA with a human input and oversight
Usman Maqbool
FT: U.K. chancellor George Osborne
wants the G20 to issue a warning about the downside of a so-called Brexit, the latest indication the
British government is looking for powerful global support for its case to remain in the bloc.
wants the G20 to issue a warning about the downside of a so-called Brexit, the latest indication the
British government is looking for powerful global support for its case to remain in the bloc.
· 1
dominicmaggio
2016.03.01
Interest rates unchanged for the 11th straight month. Last month the aussie dollar weakened following similar unchanged interest rates.
Excellent link, thanks.
You are welcome.
Thanks for the great link! :)