Usman Maqbool
Just want to make a point here.
A lot of investors were saying that you should only take sell signals for GBPAUD because GBP was tanking and now we see that GBP/AUD retracing up from oversold area. Markets always do that and it never goes in one direction forever. So the idea is to keep the risk low by having lower initial lot size and ride the DD and come out with a gain upon retracement/pullbacks. If we were to stay in the buy basket till today, we would come out with a massive profit. For this reason I will keep the initial lot size at 0.02 even if the account goes to $7k.
thank you and have a wonderful weekend.
A lot of investors were saying that you should only take sell signals for GBPAUD because GBP was tanking and now we see that GBP/AUD retracing up from oversold area. Markets always do that and it never goes in one direction forever. So the idea is to keep the risk low by having lower initial lot size and ride the DD and come out with a gain upon retracement/pullbacks. If we were to stay in the buy basket till today, we would come out with a massive profit. For this reason I will keep the initial lot size at 0.02 even if the account goes to $7k.
thank you and have a wonderful weekend.
· 1
Show all comments (14)
Vitor Hervatin
2016.02.26
I closed all, and lost U$ 138 ... Anyway, it´s good to learn! Thank you
Timo Schroeter
2016.02.26
Did you open it manually? Or do you have a broker with minimum 0.10 lot?
Vitor Hervatin
2016.02.27
I opened manually 😁😁😔! But now I know that this not a jolking! 😔😜
Usman Maqbool
I know a lot of people might not agree with me on this one but the ideal way to win in this zero sum game especially with grids are to have a bigger account and very very small initial lot size and leave it alone without even cutting the loss and leting it run. As the TP is trailed behind the price and eventually you will comeout with booking a profit even with massive counter trend trade basket becasue markets never move in one direction without any pullbacks or retracements. (just my 2 cents).
· 2
Dey Sto
2016.02.25
Hey Usman, Haven't seen any updates from you since Tuesday. What's the latest news?
Abdul Mohammed
2016.03.03
I totally agree with you Usman, I have noticed this and had lots of losses purely because you could not some times predict market volatility and most of the losses are due to margin calls , so if you have bigger account and use small lots sizes which gives a very huge buffer during volatility and huge swings and thus the losses are minimised and gains consolidated.
Most of the traders lose money because of smaller account sizes.
I have made some great signals and EAs will be soon in the market so please check them out.
Most of the traders lose money because of smaller account sizes.
I have made some great signals and EAs will be soon in the market so please check them out.
Usman Maqbool
With brexit to last for few months and increasing volatility, I will keep the initial lot size at 0.02 even with the growth.
Timo Schroeter
2016.02.23
Sorry, what do you mean with "even with the growth"? When your deposit growth?
Usman Maqbool
Trades basket is closed to limit any further losses. We will come back after the dust settle and tonight is inflation hearing report from UK - if UK goes with dovish view about inflation and economy then GBP will sink further. It is better to stay away for now. No one wants to book losses but this is the nature of the game. Risk vs reward. We will be back on track and recover the loss in the coming weeks. thank you for your understanding.
· 6
glenboy7
2016.02.23
Although its Martingale, it is a watched Martingale with the author deciding which way to trade and managing in times of draw down. I like this signal and the genuine responsive author
dominicmaggio
2016.02.23
I'm a believer in this signal. Having said that, what happened yesterday scared me not because we lost money. That happens. But how we went about the trading. Usman, you're very good at predicting the general trend of pair. Whether using the SBB or whatever, what you do works because of your prediction, and coupled to the martingale. Last night you knew the BREXIT occurred "pound is getting pounded- we will stay flat for now." But for some reason instead of thinking that this pair (more likely than not) is going to decrease, you put it in the buy direction. Your response to Robert was confusing because you do directional grids all the time. You base them off the 30 day bands and analysis. That's why your signal is the best. To recognize this pair was going to take a hit, then going in the other direction doesnt make sense to me.
I'm also worried that after you then closed the basket last night bc the pair might drift down further, this morning you reopened the system buying the pair. No one is saying that it needs to be right all the time- the martingale allows us to profit even in the face of imperfection. But we have to use everything available to predict as best as possible the overall trend. Do you really think this is gonna go in the buy direction? If not, why dont we just have it in the sell direction?
I'm also worried that after you then closed the basket last night bc the pair might drift down further, this morning you reopened the system buying the pair. No one is saying that it needs to be right all the time- the martingale allows us to profit even in the face of imperfection. But we have to use everything available to predict as best as possible the overall trend. Do you really think this is gonna go in the buy direction? If not, why dont we just have it in the sell direction?
Usman Maqbool
2016.02.23
Dominic - I appreciate your comments. Th eproblem is that gbp/aud is already too stretched to the downside and in oversold condition. If we look at fundamentals beyond the Brexit, UK central bank is still the second central bank in line with a possibility of rate hikes in the future and even if the central bank hints to reduce asset purcahse facility this year without the rate hike, GBP will rebound. Opening a directional grid (sellside) at this point has less chance of success then the buy side. Even if we get stuck in buy grid , it won't be massive downside and basket can book TP level on any decent retracement. Rightnow as I write our TP is only 56 pips away with only three small positions and it should hit TP very soon here.
Usman Maqbool
Heads up: I might cut the loss cut very soon here. We got caught in a Brexit BS.
· 3
Usman Maqbool
2016.02.23
Tonight is UK Inflation Report Hearings - If down played UK central Bank, we can be in more DD.
Usman Maqbool
All systems are switched off. There will be no more lots opened and exit will be managed manually from here. Do not want to increase the lot size to manage DD.
· 8
Usman Maqbool
2016.02.22
Please do not send individual messages regarding the current trades basket and DD as it would be too many message to reply with the same answers. Please follow the news feed here as it is visible to everyone and most people will get the answers. Do not panic. It's high risk high reward venture and I will try my best to close the basket as soon as possible. hold on tight and don't mess with the trades. thanks
Patrick Burns
2016.02.22
I don't subscribe to this signal, but surely reducing the lot size and running it on two separate charts, one long and one short would mean some money is taken during drawdown. It may settle the nervous amongst the subscribers.
Usman Maqbool
I would strongly suggest everyone to listen to John Kicklighter. He is one of my favorites to understand and gauge developing fundamental themes.
https://www.dailyfx.com/forex/video/live_events/2016/02/20/Forex-Strategy-Video-Brexit-Speculation-Will-Compete-with-BoE-Timing-for-Pound-Direction.html
https://www.dailyfx.com/forex/video/live_events/2016/02/20/Forex-Strategy-Video-Brexit-Speculation-Will-Compete-with-BoE-Timing-for-Pound-Direction.html
· 4
dominicmaggio
2016.02.22
Thanks for this. I was going to ask you if you knew of any good web resources but didn't want to sound pushy.
Usman Maqbool
boy oh boy pound has taken a pounding on BREXIT uncertainty !
We are still flat and on stand by.
We are still flat and on stand by.
· 2
Usman Maqbool
All accounts are now flat. We will return to markets after the weekend.
Have a wonderful weekend everyone.
Cheers :)
Have a wonderful weekend everyone.
Cheers :)
· 7
Ondrej Landsman
2016.02.21
Thank you Usman for your answer. So the table on the first screen is wrong. There is starting lot size 0,02lot at 3000USD
Usman Maqbool
2016.02.22
Guys - The table is for reference only. This would apply only if I start a new account and setup the initial lot size. Investors subscribing the signals through MQL have no control over setting the lot size themselves because it is automatically set by MQL5 system based on master signal balance VS Investor's balance and the leverage of the two accounts. (which is conservative and better).
Usman Maqbool
I closed the basket of three trades few mins ago becasue it is apprent from daily candlestick close that GBP will most likely to move up against the AUD and it is also backed by AUD negative employment numebrs from yesterday. At leaset this is what I am reading.
Read:
On 15 Feb bears were able to take control and crashed price on daily candle below the the MBB(middle bollinger band, the aka 20 days SMA) after successfully knocking it down for previous 5 days at MBB. This was mainly due to breaish flag breakdown on GBP/USD. GBP/AUD continued the down move for the next two days but when UK CPI and employment numbers did not excite the markets GBP was depressed up until yesterday when AUD employment numbers disappointed the market and GBP bulls took control from the bears and pushed the gbp/aud up. There is still a bear pressure as seen by today daily candle top wick (hair) but bulls were able to pull the price back up from LBB and I thought rather than running three sell trades we are better off with 1 buy trade. Now I will leave the system alone and trade. Thanks
Read:
On 15 Feb bears were able to take control and crashed price on daily candle below the the MBB(middle bollinger band, the aka 20 days SMA) after successfully knocking it down for previous 5 days at MBB. This was mainly due to breaish flag breakdown on GBP/USD. GBP/AUD continued the down move for the next two days but when UK CPI and employment numbers did not excite the markets GBP was depressed up until yesterday when AUD employment numbers disappointed the market and GBP bulls took control from the bears and pushed the gbp/aud up. There is still a bear pressure as seen by today daily candle top wick (hair) but bulls were able to pull the price back up from LBB and I thought rather than running three sell trades we are better off with 1 buy trade. Now I will leave the system alone and trade. Thanks
· 8
[Deleted]
2016.02.19
[Deleted]
Peter Munyambu
2016.02.19
Thanks Usman for looking out for us and always staying ahead of the news. Keep it up!
Usman Maqbool
Important when setting up the signal settings:
A lot investors think that settings showing on one of the snapshots somewhere down in my news feed is the one that we are using. The answer is NO becasue it was show for something else.
Here are the setting for our system:
%age of deposit = 95% (recommended because I won't suggest to trade any other system, signal or manual trades in this account. Open a different account for everything else)
Slippage = 5
Stop if equity is less than = 0 (this is important becasue you don't want to mess with trade basket).
https://www.mql5.com/en/articles/523 (How to setup signal)
Thanks.
A lot investors think that settings showing on one of the snapshots somewhere down in my news feed is the one that we are using. The answer is NO becasue it was show for something else.
Here are the setting for our system:
%age of deposit = 95% (recommended because I won't suggest to trade any other system, signal or manual trades in this account. Open a different account for everything else)
Slippage = 5
Stop if equity is less than = 0 (this is important becasue you don't want to mess with trade basket).
https://www.mql5.com/en/articles/523 (How to setup signal)
Thanks.
· 3
DutchTreat
2016.03.11
Dear Usman, I took your settings on a $ 1,000 account, but the trades are not copied correctly. If you buy/sell 0.02, 0.03 or 0.05 lots, my account only takes 0.01 lot each time... What is going wrong?
Usman Maqbool
The Chinese data needs to out of the way first. CPI y/y is due in 15 mins. AUD is also dependent on Chinese data.
· 1
Usman Maqbool
2016.02.18
Raindrop - IC Markets has one of the best ECN price feed and accounts. I have few on different live servers with IC markets and all works very well. 1.7 - 2.5 is typical spreads.
Usman Maqbool
Idea: I know we don't trade this pair in our system but for manual shorts AUD/CAD short will gather pace based on strong CAD overall and if it can break the major support zone of 9750 - 9739 . (Be wise, it's your own risk). Most times fx markets act funny !
· 1
Usman Maqbool
AUD should get hammered. The second wave of AUD shorts will come around 8:30 - 9:00 pm (MT) or 10:30 -11:00 pm (MT)
Usman Maqbool
AUD employment data out:
Australian Econ: Participation Rate 65.2% in January vs 65.2% expected and 65.1% in December.
Unemployment Rate 6.0% in January vs 5.8% expected and 5.8% in December.
Employment Change -7.9k in January vs 13.0k expected and -1.0k in December.
Special attention to:
Full Time Employment Change -40.6k in January vs 17k in December
Part Time Employment Change 32.7k in January vs -18.5k in December
Not impressive at all.
Australian Econ: Participation Rate 65.2% in January vs 65.2% expected and 65.1% in December.
Unemployment Rate 6.0% in January vs 5.8% expected and 5.8% in December.
Employment Change -7.9k in January vs 13.0k expected and -1.0k in December.
Special attention to:
Full Time Employment Change -40.6k in January vs 17k in December
Part Time Employment Change 32.7k in January vs -18.5k in December
Not impressive at all.
· 2
Usman Maqbool
RBA: Minutes of the Monetary Policy Meeting (news out at 5:30 pm MT):
If you read the policy minutes and pay special attention to last paragraph where it says:
"
The Board noted that the outlook for continued low inflation may provide scope for easier monetary policy, should that be appropriate to lend further support to demand.
"
RBA is somewhat dovish in their tone. Left door open for keeping interest rate low and cut. Market bought Aussie dollars across the board. With UK and Australia are somewhat on the same page for most part in terms of policy guidance, I don't see a lot of follow through in AUD $ strength against the GBP.
In addition to the above UK CPI y/y number is due in few hours and this pair can easily retrace up and might give us a chance to book profit.
Currency markets do not make much sense most of the time and should be played like big players do. It has the tendency to keep bouncing up and down, especially with pairs like GBP/AUD.
Keep your belts fasten and you never want to jump of the roller coaster ride when it's rolling. :)
If you read the policy minutes and pay special attention to last paragraph where it says:
"
The Board noted that the outlook for continued low inflation may provide scope for easier monetary policy, should that be appropriate to lend further support to demand.
"
RBA is somewhat dovish in their tone. Left door open for keeping interest rate low and cut. Market bought Aussie dollars across the board. With UK and Australia are somewhat on the same page for most part in terms of policy guidance, I don't see a lot of follow through in AUD $ strength against the GBP.
In addition to the above UK CPI y/y number is due in few hours and this pair can easily retrace up and might give us a chance to book profit.
Currency markets do not make much sense most of the time and should be played like big players do. It has the tendency to keep bouncing up and down, especially with pairs like GBP/AUD.
Keep your belts fasten and you never want to jump of the roller coaster ride when it's rolling. :)
· 5
Usman Maqbool
FAQ section is added to signal description page as well:
Q. Does this system use Stoploss?
- No, this system does not use typical SL. Risk is managed by the lot size, range for the grid, spacing and carefully chosen volatile pair. If we get into bit higher lot sizes then we will try to get out of the trade basket with some profit, breakeven or even with a small loss + system will be switched off and trades will be manually managed.
In addition to the above, human oversight is provided to sometimes close basket of trades if it's clear that the trade direction is against the recent fundamental/Technical developments and/or if there is a very high impact news on it's way while we are exposed with higher lot size orders.
Q. Are you going to do regular withdrawals to keep the account balance the same?
- Yes, withdrawals will be very frequent to bring the account balance back to where it started. I have a seperate account with IC Markets just for the purpose of withdrawal from this master signal account.
Q. Does this system use Stoploss?
- No, this system does not use typical SL. Risk is managed by the lot size, range for the grid, spacing and carefully chosen volatile pair. If we get into bit higher lot sizes then we will try to get out of the trade basket with some profit, breakeven or even with a small loss + system will be switched off and trades will be manually managed.
In addition to the above, human oversight is provided to sometimes close basket of trades if it's clear that the trade direction is against the recent fundamental/Technical developments and/or if there is a very high impact news on it's way while we are exposed with higher lot size orders.
Q. Are you going to do regular withdrawals to keep the account balance the same?
- Yes, withdrawals will be very frequent to bring the account balance back to where it started. I have a seperate account with IC Markets just for the purpose of withdrawal from this master signal account.
· 6
Usman Maqbool
FAQs: (Frequently asked questions)
Q. Is this system for sale or rent?
- No: Because the important part of the system is human oversight and intervention when needed based on utilizing Japanese candle stick techniques and fundamentals.
Q. Which broker will work with this system.
- Any good regulated broker will work with this system. I strongly recommend IC Markets based on my own experience. Visit this link: http://icmarkets.com//?camp=3248
Q. Why trading only GBP/AUD.
- This pair is carefully selected based on volatility, fundamentals of the countries and most importantly risk management. No other pair will be traded.
Q. What about the leverage requirements?
- Ideal leverage is 500:1 but 400:1 or even 200:1 can work as well. It's just that if you decide lower leverage means lower lot size copied in your account and you can not control
this as it will auto calculated by mql5 system. https://www.mql5.com/en/articles/523
Q. values when setting up signal subscription?
- set %age of deposit = 95%, slippage = 5 pips and set stop if equity = 0,
Q. What lot size do I select to trade this system?
- Lot size is automatically calculated by mql5 system when you subscribe the signal. Please take the time to read this link first.
https://www.mql5.com/en/articles/523
Q. What is max drawdown (DD) to expect?
- Please take a look at my other showcased signals to get an idea. Your max DD will be lower than the master signal because mql5 only allows to set %age of deposit = 95%.
More FAQ will be added soon ......
Q. Is this system for sale or rent?
- No: Because the important part of the system is human oversight and intervention when needed based on utilizing Japanese candle stick techniques and fundamentals.
Q. Which broker will work with this system.
- Any good regulated broker will work with this system. I strongly recommend IC Markets based on my own experience. Visit this link: http://icmarkets.com//?camp=3248
Q. Why trading only GBP/AUD.
- This pair is carefully selected based on volatility, fundamentals of the countries and most importantly risk management. No other pair will be traded.
Q. What about the leverage requirements?
- Ideal leverage is 500:1 but 400:1 or even 200:1 can work as well. It's just that if you decide lower leverage means lower lot size copied in your account and you can not control
this as it will auto calculated by mql5 system. https://www.mql5.com/en/articles/523
Q. values when setting up signal subscription?
- set %age of deposit = 95%, slippage = 5 pips and set stop if equity = 0,
Q. What lot size do I select to trade this system?
- Lot size is automatically calculated by mql5 system when you subscribe the signal. Please take the time to read this link first.
https://www.mql5.com/en/articles/523
Q. What is max drawdown (DD) to expect?
- Please take a look at my other showcased signals to get an idea. Your max DD will be lower than the master signal because mql5 only allows to set %age of deposit = 95%.
More FAQ will be added soon ......
· 4
cheerios36
2016.02.14
Great Signal! Thank you for the FAQ's. Can you also address/answer when you will withdrawal? (hopefully every so often so subscribers can take some profit but whichever is ok imo) Thanks again!
Usman Maqbool
2016.02.14
Q. Are you going to do regular withdrawals to keep the account balance the same?
- Yes, withdrawals will be very frequent to bring the account balance back to where it started. I have a separate account with IC Markets just for the purpose of withdrawal from this master signal account.
- Yes, withdrawals will be very frequent to bring the account balance back to where it started. I have a separate account with IC Markets just for the purpose of withdrawal from this master signal account.