The copier should adjust position size to take account of a different currency in addition to adjusting for a different balance. Obviously the copier is not my baby, I just do the trading so you should ask them technical questions in case I don’t explain things correctly.
Glad to say Hi again! just my cooments, after my first month with you, I need to say thanks for this signal. Here my results:
Invested: 10K Return: 4% Drawdown: 4%
Please keep doing this great job. Renewed my suscription for 6 months in MQL5. I tried a lot of signals without a good results, but you Sir, showed me the correct way to growth up my account. Hope be here for a long time. Keep in mind upload your website again you have a lot of portfolios as you can show to the world and make a lot of traders happy with your strategies.
Many thanks. It seems high praise if you are effectively nowhere yet but if you give it a little time you will see the myfxbook stats reflected in your account. From time to time I try to get back to cash, usually every four weeks or so. Those are often good times for a withdrawal if you are so minded.
Like I said it's 4% for me. 6% is hardly 'a mess' in an account that's up so much this year in general and a lot more since 2015. Usefully there's a few people out there stealing my signal and re-selling it so this will put them under pressure. I will be fine and if you are leveraging me at 1:1 you'll be fine too.
Thank you for your reply! Apologise for using word «mess».Yes,I do have 1:1, I am not interested of making 100% profit overnight and at the same time to say good bye to my balance,that’s why I do stick to the rules. Was watching spike yesterday and couldn’t believe the biggest position was opened where it was,it was pretty clear that gbpchf was hitting head to the ceiling.Probably that’s why decided to contact you today. Fingers crossed for good returns for many years!
Quick question, I am copying your trades from Signal Start, I have 20,000 in an account and Im copying the Alpine as I increase the multiplier the minimal balance goes down and reaches $18723.13 hypothetical draw down reaches 56.81%, am I setting this up right, I don't want it taking outrageously large position sizes, I am guessing the hypothetical drawdown is based on your largest DD you had, I understand the risks associated with it
For Alpine all I can recommend is 0.01 lots per $1700. That is what you need to achieve. Below is the strategy and note the paragraph on position size.
The strategy is a manual grid strategy and not an EA. While it has traded exotic and EM pairs profitably in the past it only trades major and minor forex pairs now to reduce the cost of SWAPS and the inherent political/geographic/economic uncertainty around many exotic/EM pairs. When markets are overbought or close to overbought trades are opened counter-trend. When profit targets are hit trades are closed. If the market continues to move against the initial position then a second trade is opened based on candlestick price action and how the market is trading/pending news etc. Up to 12 positions maybe opened.
When markets are oversold or close to oversold trades are opened counter-trend. When profit targets are hit trades are closed. If the market continues to move against the initial position then a second trade is opened based on candlestick price action and how the market is trading/pending news etc. Up to 12 positions may be opened.
Risk control is achieved through position sizing. Position sizing MUST be the most important feature of the strategy because there is no hard stop loss and no hedging. People will often happily accept extrordingary profits and only query the strategy when they experience a stressful drawdown in their own account even while the master account remains quite safe. This is because they have failed to understand how crutial position sizing is for the strategy.
While there is no hard stop loss there is a soft one which is market dependent and as follows;
This strategy has produced excellent profits since 2015 and is now one of the oldest strategies on most copy trading platforms. It is the inspiration for three MAM accounts managing $2m of other peoples money. I never place trades in client accounts that I do not wish to place in my own accounts too and as at June 2019 my own commitment to this strategy across all three risk levels is $190k.
These are the basics. To give any more information would be to reduce my flexibility and take away the major advantage of a manual strategy and make it effectively automated. As a former stockbroker I like to watch all markets at once and get a sense of what's going on rather than put blind faith in back-testing which in the end only tests the past. Links below to Blackwave Money Accounts which demonstrates my personal commitment to this strategy.
I am just the trader, it’s not my website and I’ve actually never used it to copy anyone else. You are copying Blackwave Alpine which is higher risk, more like 0.01 per $1000. Anyway less risk is better so if you are happy with the settings that I am not familiar with go ahead.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.