16M - M06 (By NextLevelForex)
The user has made his system private.
16M - M06 Discussion
Sep 06, 2011 at 19:42
896 Views
9 Replies
Member Since Apr 25, 2011
262 posts
Sep 21, 2011 at 23:33
(edited Sep 21, 2011 at 23:34)
This account is part of a live, real-money portfolio, traded for the reasons,
and following the guidelines described in https://NextLevelForex.com newsletters.
Balance, lot sizes, trading history and other details are available to subscribers.
To get in touch, please sign up and find the contact info in the welcome letter...
Happy trading!
and following the guidelines described in https://NextLevelForex.com newsletters.
Balance, lot sizes, trading history and other details are available to subscribers.
To get in touch, please sign up and find the contact info in the welcome letter...
Happy trading!
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Member Since Apr 25, 2011
262 posts
Sep 25, 2011 at 16:59
The account was started with a balance that was four times less than recommended, so the initial gains and losses were amplified by a 4x factor. On 9/14 a deposit brought the balance up, to a level that was only two times less than recommended; then on 9/23, based on increased confidence in the broker, another deposit brought the balance to the recommended level. What that means is that from 9/14 to 9/23 the gains/losses were amplified by a 2x factor.
From 9/25 the account is traded with recommended balance needed for the strategy, and with Money Management rules that allow up to a 15% drawdown.
From 9/25 the account is traded with recommended balance needed for the strategy, and with Money Management rules that allow up to a 15% drawdown.
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Member Since Apr 25, 2011
262 posts
Oct 01, 2011 at 04:16
After facing very strong currents in the markets (especially in oil and metals), the account ended the month on the positive side, with an absolute gain of +11.48%. I will use that value in my records, rather than the gain of 31.88%; the reason: I knew from the beginning how much the required capital is, but decided to properly fund the account only after testing the broker.
As usual, the information provided, including but not limited to this account’s statistics, is for educational purposes only ;)
As usual, the information provided, including but not limited to this account’s statistics, is for educational purposes only ;)
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
forex_trader_32776
Member Since Mar 28, 2011
1008 posts
Oct 05, 2011 at 07:24
Symbol ND - what is this?
Member Since Apr 25, 2011
262 posts
Oct 05, 2011 at 07:33
ForexScam posted:
Symbol ND - what is this?
NASDAQ-100
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Member Since Apr 25, 2011
262 posts
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.
Trading will stop until we can clarify the conditions for maximum DD and market exposure.
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
forex_trader_32776
Member Since Mar 28, 2011
1008 posts
Oct 14, 2011 at 16:08
What was the previous agreed upon trading window? ( room for trading )
Member Since Apr 25, 2011
262 posts
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 this trader, in another account (not MT4, so not on myfxbook) brought an average return of 2.73% / month for the past 17 months. The median was 3.14%, the minimum was -0.83% and the maximum was 5.18%. At least in my book that’s a very smooth return! My mistake was to allow him to trade the new account (this one, at FxPrimus) after seeing the much higher return generated here (Sep 2011 had an absolute return of 11.5%; I knew that meant he was using higher leverage, and I talked to him about that, but apparently we were not on the same page).
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 this trader, in another account (not MT4, so not on myfxbook) brought an average return of 2.73% / month for the past 17 months. The median was 3.14%, the minimum was -0.83% and the maximum was 5.18%. At least in my book that’s a very smooth return! My mistake was to allow him to trade the new account (this one, at FxPrimus) after seeing the much higher return generated here (Sep 2011 had an absolute return of 11.5%; I knew that meant he was using higher leverage, and I talked to him about that, but apparently we were not on the same page).
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Member Since Apr 25, 2011
262 posts
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 were going through my head. Luckily, I was able to recognize them, and today (2011.11.29) at 9:40 PST I pulled the plug!
Here is the status and the plans moving forward, for the systems on my public profile:
01A - S: stopped today; may resume trading on Jan 15; due to poor performance, also considering replacing the system
02A - A: continue to run with minimum lot size = a lot smaller (10x - 30x) than regular; plan to resume trading on Jan 15
03A - G: continue to run with minimum lot size = a lot smaller (5x - 20x) than regular; plan to resume trading on Jan 15
04A - T: stopped today; may resume trading on Jan 15; due to poor performance, also considering replacing the system
16M - M06: not traded, since the trader and I agreed on something that did not happen yet; keep on hold until Jan 15
Happy Holidays!
Here is the status and the plans moving forward, for the systems on my public profile:
01A - S: stopped today; may resume trading on Jan 15; due to poor performance, also considering replacing the system
02A - A: continue to run with minimum lot size = a lot smaller (10x - 30x) than regular; plan to resume trading on Jan 15
03A - G: continue to run with minimum lot size = a lot smaller (5x - 20x) than regular; plan to resume trading on Jan 15
04A - T: stopped today; may resume trading on Jan 15; due to poor performance, also considering replacing the system
16M - M06: not traded, since the trader and I agreed on something that did not happen yet; keep on hold until Jan 15
Happy Holidays!
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Member Since Apr 25, 2011
262 posts
Sep 26, 2012 at 21:39
I'm going to remove this account from my public profile at the end of this week. It has served its purpose, and is no longer relevant now, mainly because I was not in touch with the trader who traded it for more than 6 months.
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
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