Forum >> Open Positions

Ok I will put my tuppence worth in. Yes I have given back all of the profits I have made so far using this system and no, I am not enjoying this period one bit. I have adjusted my lot size back down as per reccomendations on this forum and I am being extra cautious and reducing further my lot size for JPY, AUS & CHF signals right now because they are not playing ball and I just don't trust em right now. Despite all this my current drawdown is not nice but it is nowhere near a margin call, not even close.

There are a few people who are popping up all over this forum with negative comments and opinions about this system and it sounds like you are spoiled children who have had their pocket money taken away. Who put you in the position you are in now? It wasn't Silvertrader or anyone else. It sounds like you are being greedy and trying to get rich quick based on past results. It never works that way so please, if you are not prepared to follow the rules and position sizes then accept that you are the ones to blame and stop trying to blame the system. If you are not happy with this system then go away and try another one and come back here and tell us about your experience with it, there are thousands to choose from.

Respectfully

Scotty

Ovidius, the problem is that you joined in a more difficult period and you don't have the cushion of accumulated profits from the previous months. After making 40% or so in the previous month you added funds to your trading account and started to trade larger positions, although I warned you and told you not to do so. Had you stayed at your previous level, you may have given up your previous profits but you would not be in such a drawdown. But you assured me that you are comfortable with the larger positions and therefore with the bigger risk. I assume because you took the substantial monthly profits granted. Now you are flooding this forum with posts that are not good for the morale at all and lamenting over your losses. If you take a closer look at the Performance Review, you can see that there are no consistently high profits every month. I had to withstand similar feedbacks in February this year, when we barely made profit at all. Although I still think that a reversal of the current trends in many currency pairs is imminent, it is absolutely possible that we'll finish September with a negative total result. Statistically it is already overdue, it is almost impossible for any system to deliver profits every single month for several years in a row. This doesn't mean that the system is failing, it just means that the currency markets are in a transition phase and in such a market environment the precision of the system deteriorates, as it was designed to generate predictive signals in normal market environment, and not in extremely volatile periods, which are prevailing only less than 20% of all the time. If this system was capable of delivering winning signals with laser-like precision in the current environment, it would be failing in normal circumstances and I think that would be an unreasonable trade-off.  There are two ways for you, you can either stay disciplined and stick to the system or you can go and search for the next "magic system", that would deliver you substantial profits each and every month. In that case, if you find one, please tell me, I would be happy to join that one. But I would really appreciate if you finally stop whining and fearmongering. If your hard-earned money is so precious for you, then you should stop trading forex and put it into some state-guaranteed bonds or similar investment vehicle. Or maybe you should listen more attentively next time, when someone is trying to make you aware of the risks of raising the stakes in a very volatile and unpredictable market environment, when every other day we can read in the mainstream financial press about the possible collapse of the world economy.

 Moebassy, it is amazing for me that you consider down 32K plus a small position, more power to ya!  I'm hurting and I imagine some are hitting margin calls.

I keep thinking, why did Silvertrader do a quick switch back in early September, without that we would be singing and dancing with all the profits made this month, instead another 5 positions hit stop losses today. Almost every pair is going opposite our direction.  And every news item this week has made it worse, can't seem to get a break this month.

I really wonder if this system can sustain the losses like this month for much longer than a month without wiping out one's account regardless of the size if using the recommended lot sizes?  There are 20 or so stop losses this month for a -6000 pip count and another negative 2-3K pips still open. 

It seems there is fear and unwarranted fear, but when ones hard earned money evaporates daily, maybe survival instinct is the cause of the fear.

Is this current market doing a dance that the system can't tangle with?  something is off, and few people, very few can sustain the current situation for long.  I hope and pray we will be made whole and profit!

So far it is  the bloodiest week  for me in the currency trading despite my small positions!

Well, then your position sizing must have been incorrect...

I don't have ... losses are close to my 100% balance, and about gold and silver - it can turn tomorrow or a month later. In this market one thing is sure: you can't be sure of anything.

Will anyone have any funds left for the turn at this rate?  There has to be a way to limit the huge swings and drawdowns, to get a closer read on the turn point.

where the hell ozi, gold and silver are going ? they must stop somewhere. sellers are going to step in at some point. we need to buckle up and sit tight!

 Looks like a complete break down here, losses are huge!  Three new stop losses today bringing the September total to minus 5000 pips and still a huge current drawdown.  I need a 100% gain just to get back to were I was on September 1 and a 50% gain to get back to were I was before I joined, two months ago. 

 Silvertrader, I have asked if the way you interpret the market along with a given signal, ( it does seem at times there is some interpretation that happens ) if a belief in a pending market crash is part of that.  Maybe, its just the way I read and its only the signal, in that case excuse my question.  From an observer there seems to be some market interpretation that comes into the process.  

Thanks for giving us all an update.