Rapier Discussion

EUR/USD capped at 1.0781 overnight which meant our Limit Sell order at 1.0783 was not executed; we missed out by just a couple of pips on what would have been a nice move down. The pair had to be topping out at these levels overnight due to US data due today and Draghi comments due this morning.

Still a positive start with +128% on the account and now with $270K of real cash following our system.

Demo account? Why not real?

Why no comment from follower?

EUR/USD pushes higher on dovish FOMC minutes and more recently on weak UK numbers which caused a spike higher in the EUR/GBP pair which in turn caused a bid tone for the EUR/USD pair to 1.07

EUR/USD Draghi speech expected this morning will see the pair capped at no higher than 1.0750 with downside expected at 1.0680 during the Asian session.

Symbol Action Percentage Volume Positions
USDCHF
                Short 83% 1163.03 Lots 3263
                Long 16% 235.27 Lots 1997


Holding our short position.

We were right to hold our nerve with the short USD/CHF, but decided to close out our profits before the ECB rate decision tomorrow and US non farm payroll on Friday. We expect a great deal of volatility tomorrow / Friday and will be limiting our exposure until markets settle.

Nice trading, thank you,
your client
Lukasz

Goldman Sachs Group Inc.’s call for the euro to plunge to 1.03 on Thursday didn’t exactly go according to plan. A lot of people were completely caught out: but not us. There is an old saying in trading; trade what you see and expect the unexpected.

Cheers Lukasz. Glad we were able to make you some money. Thank you for your continued support.

Hello Kevin, do you have any equity SL? After all 20 levels are used, how deep would you go?
Nice trades so far, have copied you for a month now, thanks :)
Only complaint: I think it was unnecessary risk to go to last weeks NFP-s with (so many) open positions. Finally it worked out ok but...
I got out of EURUSD with profit yesterday and only observing your last trade now. Hopefully 1.10 will cap :)

Thanks again for great trading!

What is the game plan with the 15 open EURUSD short positions all in red...?

'Hope and Pray...'?

Nasty moves, better to play it safe right now.

marx64 posted:
Nasty moves, better to play it safe right now.

What do you mean by 'play it safe'....?

How could one play it safe with 15 open short positions in the red...?

I exited this trade before it went out of hands and only observing it now. It's not possible to play this trade safe anymore. I mean it's not a good time to play with high stakes. I would limit my open positions to 0,5 lots for December. Basically the trading is done for this year.

The US were duty bound to hike rates today, as the consequences of them not doing so would have sent shock waves through the market. That said, the fundamental reasons didn't stack up in our opinion. We were, unfortunately, ahead of the curve going short last week around 1.0825 (where it will likely end up over the next day or so), and, in hind site, should have waited and I apologize if this stopped any accounts out. But, one aspect of trading is managing positions. And so, just because a position does not have a visible stop loss on screen does not mean it is not being managed. The bottom line was our positions today were covered with a break even exit at 1.09 and a SL at 1.11 (just after the hike) but where we would have started buying at 1.1059 to reduce losses, had there not been a hike.

But followers are absolutely correct to manage their own risk. One of the problems we have is that we have no idea of who might be following us, or the amount in their accounts. This is why we clearly show the maximum number of lots we trade with. Today was the first day we closed with a loss in 6 months and had it not been for the fact that our protective SL triggers kicked in when we went short around 1.0960 moments before the news release and 1.10 just after the announcement, things would have looks very much better.

We continually look at ways of reducing risk and improving on our impressive performance. We would like to assure all of our followers that we have their best interests at heart.

Kevin

  

Thanks Kevin,

I asked about your internal SL to have more information for managing my positions. In worst moments the floating loss was about 3000 USD, which probably caused margin calls for some followers. Therefore it would be good to know where is your own pain threshold.
Also I would suggest to avoid going into big news events with open positions, as it's always a lottery.

Overall a pretty good work, keep it going!

Max

EUR/USD just hit 1.0825 as we predicted last night.

Thanks Max, as said we were looking to exit at 1.11 yesterday (with a potential buy back) and begin unraveling our positions, which would have been close to our pain threshold. With regard to news events. we try and avoid them if possible, however, some are calculated risks; which is what you do every time you pull the trigger on any trade.