NextLevelForex's Posts - Page 9

03A - G in Trading Systems Nov 29, 2011 at 20:11

When I started the NextLevelForex project, I had a very strong reason for picking (semi-)automated trading: I wanted a business that I can put on hold whenever I want, for as long as I want. Now the time came to put that feature to the test, since I’m soon going to take a longer vacation… To my surprise, I had a good amount of hesitation. “Why should I stop trading? that will just mess up my stats”, “there is a high chance the next two weeks are going to be quite profitable, so let’s trade for just a few more days”, and other similar rationalizations ...

02A - A in Trading Systems Nov 29, 2011 at 18:52

When I started the NextLevelForex project, I had a very strong reason for picking (semi-)automated trading: I wanted a business that I can put on hold whenever I want, for as long as I want. Now the time came to put that feature to the test, since I’m soon going to take a longer vacation… To my surprise, I had a good amount of hesitation. “Why should I stop trading? that will just mess up my stats”, “there is a high chance the next two weeks are going to be quite profitable, so let’s trade for just a few more days”, and other similar rationalizations ...

01A - S in Trading Systems Nov 29, 2011 at 18:46

When I started the NextLevelForex project, I had a very strong reason for picking (semi-)automated trading: I wanted a business that I can put on hold whenever I want, for as long as I want. Now the time came to put that feature to the test, since I’m soon going to take a longer vacation… To my surprise, I had a good amount of hesitation. “Why should I stop trading? that will just mess up my stats”, “there is a high chance the next two weeks are going to be quite profitable, so let’s trade for just a few more days”, and other similar rationalizations ...

20-40% performance fee (with high watermark) for Forex traders in Experienced Traders Nov 28, 2011 at 08:05

Seems you misunderstood the role of my accounts, and the role of this thread for that matter. I'm not looking for clients, simply because I'm not trading other people's money.As far as my accounts not qualifying my own criteria, please enlighten the readers of this thread and post my criteria here (I am curious to see what you say about that, since as far I know, and as anyone reading this thread can see, I did not post any qualifying criteria - all I asked from people was some info about them and their results).It's not easy to find good traders, who are quality people as well...

03A - G in Trading Systems Nov 28, 2011 at 00:42

I just reduced the trading lot size, in preparation for the vacation I'm going to take soon. The plan is to keep trading through the holidays, to collect data (Pip Expectancy does not depend on lot sizes), and resume trading with regular lots on Jan 15, 2012.

20-40% performance fee (with high watermark) for Forex traders in Experienced Traders Nov 26, 2011 at 04:17

Thanks for the note, SaltyWaters! Good luck to you, too!MakeFxMoney, thanks for the info, I added you to my watchlist.Your stats look good so far. Your account is still very young (1.5 months), so I'll check on it again in a month or so. One question: your account is said to be Manual, and yet you have 1716 trades so far. Just out of curiosity: were these trades all manual?

20-40% performance fee (with high watermark) for Forex traders in Experienced Traders Nov 17, 2011 at 16:44

Thank you, I added you to my watchlist. Is that a cent account?

20-40% performance fee (with high watermark) for Forex traders in Experienced Traders Nov 15, 2011 at 23:40

Now that's a much better way to spend your first post ;) Thank you, Clark!Yes, I'm sure there are good managers out there, but what I figured is that the majority of the established ones don't spend time on forums or places like myfxbook. Given I see this quest as a long term effort, I'm ok if I can find only 1 great manager each year! (where "great" for me means more than just having very good performance; the character of the person is equally important...)

20-40% performance fee (with high watermark) for Forex traders in Experienced Traders Nov 15, 2011 at 19:11

togu,It looks like you are trading manually, with success (very short history, not many trades, but still, so far it looks good).Why are you wasting time with comments like this? Is thread crapping the way you entertain yourself?

20-40% performance fee (with high watermark) for Forex traders in Experienced Traders Nov 10, 2011 at 16:32

redbuddha,You registered to myfxbook just to post such a comment on my thread? If you feel like attacking people, please send them private messages. Posts like yours usually attract more people to join the conversation and show how much smarter than the next person each of them are...I see you are trying to prove that sgibbs2000 is not as good as he says, to ultimately protect newbies from losing money with him, which in the end is a good intention. It would be much better if you would post something of value, like that you found he's using martingale (which he's not, I checked the rea...

20-40% performance fee (with high watermark) for Forex traders in Experienced Traders Nov 09, 2011 at 15:22

Agree, longevity is very important to trading in general, and even to a generic business.But I'm also looking for how easy is to communicate with the trader/account manager, how smooth the conversation goes, how open the trader is to admitting mistakes, and so on. He/she can have the best track record in the world, going back ages, but if I cannot build a relationship, I'm not interested.And that's exactly the reason why I kept more than those long-history accounts in the list: some of the people showed a good amount of honesty, so I'm willing to give them time to become succes...

20-40% performance fee (with high watermark) for Forex traders in Experienced Traders Nov 09, 2011 at 01:51

The needle in the haystack is indeed hard to find ;) But there are lessons learned throughout this quest that may be worth more than finding the needle itself. As such, the journey continues!2.5 months after having started this thread, lots of the systems advertised here went belly up, while others were deleted or marked private. On Sep 20th I posted a summary with the systems that had multiple signs of trouble, and today I want to summarize the rest of the systems. A couple of them are not even close to wanting me entrust real money to them, but I kept them on my radar since the people seemed...

Acme Hedge - Normal Mode (Low Risk) in Trading Systems Nov 01, 2011 at 04:32

"nice graph" ?What is see is a realized DD of 14%, on top of which we have a floating DD of 12.3% (Equity is now at 87.70%).Interesting to note: the other 2 accounts, supposedly traded with more aggressive settings, closed the basket in profit for all the occasions this account realized a loss. I guess the allowed DD was hit here, being smaller...

Can anyone recomend a managed account ? in Experienced Traders Oct 26, 2011 at 20:03

By the name of the thread, I thought this would be a place for 3rd party opinions about manager X and system Y. I read all posts and found only one such reply… Instead, I see people advertising themselves, and some really badly (like claiming to turn 10k into 30k within a month, while trading on an exchange that does not exist - he/she probably meant New York [b]Mercantile[/b] Exchange, but who cares about such fine details anyway...)

20-40% performance fee (with high watermark) for Forex traders in Experienced Traders Oct 26, 2011 at 19:53

I did not check the performance of any of the people who advertised themselves there, but wanted to post the link on my thread, since it's related:http://www.myfxbook.com/community/experienced-traders/can-anyone-recomend-managed-account/120073,1One comment, though: by the name of that thread, I expected the posts to be something like "I used services of X, and highly recommend them, while Y was so and so; also, make sure you avoid Z!". The person who started the thread was looking for 3rd party opinions of various managed accounts services. He/she got zero such replies! Instead, ...

Use additional records for calculating Commissions and Interest in Suggestion Box Oct 21, 2011 at 19:37

There are some brokers that don't report commissions via the regular MT4 field, but rather as deposit/withdrawal records. A popular example here is MB Trading. Since they have variable commissions, depending if the order was market or limit, they report part of the commission in the entry corresponding to the trade, and another part of the commission as a separate entry, of type "balance", where they put some comment like "Comm. for Close #ticketNumber" or "Credit for Close #ticketNumber".For an EA that has a very low Pips Expectancy (say 1.0 pips), and in an ...

Commercial Network Services in VPS Services Oct 18, 2011 at 00:02

http://helpdesk.commercialnetworkservices.net/index.php?_m=knowledgebase&_a=viewarticle&kbarticleid=174

16M - M06 in Trading Systems Oct 14, 2011 at 20:08

We agreed on 15% DD, and the account now has a realized 21.5% DD. The trader contacted me when the DD was about 15%, and since NASDAQ (to which we had the greatest exposure) had signs of reaching a top (he was short), I told him that I'm ok to extend the room for trading up to a 20%.Just a couple of hours later NASDAQ started to fall, and more than half of the DD was recovered. The mistake here, at least in my opinion, was that the trader only closed a very small part of the open positions, remaining exposed and being hit hard by the surge that followed the next day.The money I had with th...

16M - M06 in Trading Systems Oct 14, 2011 at 15:17

My trader failed to contain the losses, and the DD exceeded the previously agreed level.Trading will stop until we can clarify the conditions for maximum DD and market exposure.

16M - M06 in Trading Systems Oct 05, 2011 at 07:33

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Posts by NextLevelForex