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Author Topic: Balanced FX Portfolios - Forex Copy Trading Accounts  (Read 13042 times)

Online rsmereka

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #75 on: June 26, 2019, 04:31:39 PM »
Rod,

I don't agree with you but I removed the signature anyway.

Anyone that can read and has a minimum of three firing neurons can see the trades that used to be visible (I changed the history start date, it is not perfect yet as it is still showing former system NZDUSD trades which also do not belong to Dan's system) are before I subscribed to Dan's signal. Plus in my last post, I specifically mention this issue.

Online nwboater

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #76 on: June 26, 2019, 05:24:42 PM »
Rod,

I don't agree with you but I removed the signature anyway.

Anyone that can read and has a minimum of three firing neurons can see the trades that used to be visible (I changed the history start date, it is not perfect yet as it is still showing former system NZDUSD trades which also do not belong to Dan's system) are before I subscribed to Dan's signal. Plus in my last post, I specifically mention this issue.

Thank you.

sidewalk-star

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #77 on: June 26, 2019, 06:08:39 PM »
Just subscribed via SignalStart,

Cancelled my subscription with the 'other guy' regardless what my signature says. This will get cleaned up as MyFXBook becomes aware of the new data (nice design flaw in MyFXB where a custom start date cannot be applied unless there is data in that date range).

I just looked at your fxbook that says BalancedFx in the Signature but still has the 60% DD from OTB.

It would be nice to Dan to remove that account from your signature until FxBook cleans it up. Some people might see that and think that Dan had that huge DD. Of course he didn't. My first thought though was - 'no, not Dan too!

Thanks,
Rod

Thank you, Rod & rsmereka,

I was actually about to ask if rsmereka would be kind enough to remove my company name from that awful Myfxbook data (at least until deleted / updated).

I do not want any association with that kind of performance, I intend to build a strong and long-term track record with this business, so brand awareness and reputation is everything.

rsmereka, I appreciate what you are saying but I'd rather not risk any association with that kind of trading performance, it is very far form the conservative and responsible approach that I trade.

Thank you for removing the signature. It would also be nice if you were to remove my name from that account in Myfxbook, at least until the data has been updated.

Thanks all-round to you guys, I really appreciate you supporting my signal and welcoming me into the forum as you have.

All the best,

Dan.

« Last Edit: June 26, 2019, 06:11:37 PM by Balanced FX Portfolios »

Online reinerh

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #78 on: June 26, 2019, 06:25:44 PM »
dan,

your trading so far been second to none, no comparison to the other guy who continously broke all rules.

very soon you have him beat on zulu as well, and well deserved btw.

just keep it up, dont let your ego become larger then life and all will be good.

and most importantly respect your stop when things go wrong, they will someday = you being on the wrong side of the trade, happens to all of us.

green pips to you :)

sidewalk-star

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #79 on: June 26, 2019, 06:41:36 PM »
dan,

your trading so far been second to none, no comparison to the other guy who continously broke all rules.

very soon you have him beat on zulu as well, and well deserved btw.

just keep it up, dont let your ego become larger then life and all will be good.

and most importantly respect your stop when things go wrong, they will someday = you being on the wrong side of the trade, happens to all of us.

green pips to you :)

Thank you for your comment.

Ego doesn't feature in my trading, I approach it as a business and tend to walk away if any emotion clouds my judgement. I'm also fully aware that I'm no better than the next guy and acknowledge every day is a learning day.

As for stops, I don't use them generally. I trade using mean reversion strategies and using stop loss orders would not be at all beneficial for this type of strategy.

If my trades get into any drawdown I manage them by averaging in at strategic levels. In extreme cases I am happy to hedge but this is not usually necessary.

The key is to not open too many positions and to keep in mind the bigger picture and worse case scenario and potential maximum lot sizing required for a basket of trades.

This is a strategy that I have been using for sometime. It's not completely my own, I had a mentor. However, I have tweaked it to suit my own trading style and the results, so far at least, speak for themselves.

For anyone concerned about the lack of stop loss orders, please don't let it worry you. Almost all mean reversion traders I know do not use stops, in fact many pro traders do not use stops, period.

I have mentioned it before, but to me stop losses are just sitting ducks, providing liquidity for the big money and it's "death by a thousand cuts" in terms of chipping away at your account balance.

All I know is that when I stopped using stops, I started making money and I could sleep better at night knowing my trade would still be open in the morning, regardless of any short-term spike during Asian session news.

It should be said that I do implement some other strategies on shorter time frames or trending markets, when the opportunity arises and I may use stops for breakout trades, for example. But the mid-term swing trades are managed manually, which gives me much more flexibility to protect client funds.

I hope that clears a few things up.

All the best,

Dan.

Online reinerh

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #80 on: June 26, 2019, 06:52:38 PM »

dan,

you slightly misunderstood me..................

its the max dd limit which has to be respected, it can be in the form of a sl value, or equity dd limit stop, makes no difference.

a trade can go seriously against us, and there has to be a limit how far one lets the pain go.

and hedging in my experience is not the way to go. never seen that successfully implemented since its extremely hard to release the hedge at the right time.


sidewalk-star

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #81 on: June 26, 2019, 07:21:30 PM »

dan,

you slightly misunderstood me..................

its the max dd limit which has to be respected, it can be in the form of a sl value, or equity dd limit stop, makes no difference.

a trade can go seriously against us, and there has to be a limit how far one lets the pain go.

and hedging in my experience is not the way to go. never seen that successfully implemented since its extremely hard to release the hedge at the right time.

My apologies for the misunderstanding.

With regard to maximum drawdown I would seriously reconsider any losing positions if we got to around 10%. I wouldn't feel comfortable going past that mark and any losses would be relatively easy to recover. You are never going to get into an uncomfortable position with me, whereby I let a losing trade keep running and eating up client's capital and margin. I'm more responsible than that.

I have had plenty of trades go against me, it is inevitable when trying to catch tops and bottoms on over-extended markets. The important thing is not to react on impulse and start quickly adding to the position or hedging. As you quite rightly point out, that is difficult to get right.

My best weapon is to just be sensible with entries and lot sizes. I trade the same strategies used on the Alpha signal on my personal accounts and take it all very seriously because trading is now my primary income.

Just to give you all a quick background, I have been Managing Director of my own company for the past 8 years and I'm now in the process of selling that company so that I can focus 100% of my time on trading forex. I'm not about to mess things up for myself or for my paying subscribers.

I think we are all a bit wary of signal services and I too have had several accounts blown up by various, less responsible, traders in the past. So I really just want to reassure you all that I am legit and I do my very best to protect everyone's capital.

This is my existing company, for those interested. I had 5 employees and was turning over good money. However, my heart is just not in it any more and I need to commit fully to my trading career now.

www.flatpackdan.com

All the best,

Dan.


Online rsmereka

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #82 on: June 26, 2019, 07:53:06 PM »
Just subscribed via SignalStart,

Cancelled my subscription with the 'other guy' regardless what my signature says. This will get cleaned up as MyFXBook becomes aware of the new data (nice design flaw in MyFXB where a custom start date cannot be applied unless there is data in that date range).

I just looked at your fxbook that says BalancedFx in the Signature but still has the 60% DD from OTB.

It would be nice to Dan to remove that account from your signature until FxBook cleans it up. Some people might see that and think that Dan had that huge DD. Of course he didn't. My first thought though was - 'no, not Dan too!

Thanks,
Rod

Thank you, Rod & rsmereka,

I was actually about to ask if rsmereka would be kind enough to remove my company name from that awful Myfxbook data (at least until deleted / updated).

I do not want any association with that kind of performance, I intend to build a strong and long-term track record with this business, so brand awareness and reputation is everything.

rsmereka, I appreciate what you are saying but I'd rather not risk any association with that kind of trading performance, it is very far form the conservative and responsible approach that I trade.

Thank you for removing the signature. It would also be nice if you were to remove my name from that account in Myfxbook, at least until the data has been updated.

Thanks all-round to you guys, I really appreciate you supporting my signal and welcoming me into the forum as you have.

All the best,

Dan.
Dan,

If have removed your company name from the MyFXBook account as requested.

Once only your trades appear in the history, I will rename the MyFXBook account and add the account to my signature here.

Rick

sidewalk-star

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #83 on: June 26, 2019, 08:20:53 PM »
Just subscribed via SignalStart,

Cancelled my subscription with the 'other guy' regardless what my signature says. This will get cleaned up as MyFXBook becomes aware of the new data (nice design flaw in MyFXB where a custom start date cannot be applied unless there is data in that date range).

I just looked at your fxbook that says BalancedFx in the Signature but still has the 60% DD from OTB.

It would be nice to Dan to remove that account from your signature until FxBook cleans it up. Some people might see that and think that Dan had that huge DD. Of course he didn't. My first thought though was - 'no, not Dan too!

Thanks,
Rod

Thank you, Rod & rsmereka,

I was actually about to ask if rsmereka would be kind enough to remove my company name from that awful Myfxbook data (at least until deleted / updated).

I do not want any association with that kind of performance, I intend to build a strong and long-term track record with this business, so brand awareness and reputation is everything.

rsmereka, I appreciate what you are saying but I'd rather not risk any association with that kind of trading performance, it is very far form the conservative and responsible approach that I trade.

Thank you for removing the signature. It would also be nice if you were to remove my name from that account in Myfxbook, at least until the data has been updated.

Thanks all-round to you guys, I really appreciate you supporting my signal and welcoming me into the forum as you have.

All the best,

Dan.
Dan,

If have removed your company name from the MyFXBook account as requested.

Once only your trades appear in the history, I will rename the MyFXBook account and add the account to my signature here.

Rick

Thanks, Rik. That's much appreciated. Probably for the best at the moment.

Glad to have you on board as a subscriber.

All the best,

Dan.

Online reinerh

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #84 on: June 26, 2019, 10:08:57 PM »

dan,

no biggie, might have been me = not being clear enough.

the biggest thing you have going for you is how calm and collected you are in your trading. i analysed your history to the hilt and am very impressed.

and this is the hardest, having your inner self under control, to trade 100% without emotions, i am still struggeling with that to this day myself, and i trade much longer then you.

sidewalk-star

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #85 on: June 27, 2019, 05:29:17 PM »
I know the forum is mostly concerned with the big news that's occurring at the moment, but I won't pass comment on that.

However, I would like to thank all my new subscribers. I now have 18 copy traders across MQL5 and Signal Start and I am truly grateful for your trust.

It means a lot to have so many traders sign up at this early stage of the signal and I am always open to questions or constructive comments on how I can improve on my services.

All the best and thanks again,

Dan.

Offline Fastrack Forex

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #86 on: June 27, 2019, 05:42:35 PM »
Well done.

Offline Archer Asset Management

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #87 on: June 27, 2019, 05:45:06 PM »
Hope there is a profit sharing scheme for small accounts rather than fixed monthly subscription!

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Online rsmereka

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #88 on: June 27, 2019, 06:50:03 PM »
The issues with MyFXBook account with this subscription have been straightened out. A custom start has been applied (starting today). This MyFXBook account has been re-added to my signature.

sidewalk-star

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #89 on: June 27, 2019, 07:35:26 PM »
The issues with MyFXBook account with this subscription have been straightened out. A custom start has been applied (starting today). This MyFXBook account has been re-added to my signature.

Thank you for the update.

 

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