Usman Maqbool / プロファイル

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.

GBP volatility expected today 8:15 pm (MT)


BOE Gov Carney Speaks

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).

With brexit to last for few months and increasing volatility, I will keep the initial lot size at 0.02 even with the growth.

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.

Heads up: I might cut the loss cut very soon here. We got caught in a Brexit BS.

Last trade killed to reduce the net exposure.

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.

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

boy oh boy pound has taken a pounding on BREXIT uncertainty !





We are still flat and on stand by.

All accounts are now flat. We will return to markets after the weekend.

Have a wonderful weekend everyone.

Cheers :)

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

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.

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.

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 !

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)

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.

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. :)

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.

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 ......