I’ll try to record any queries I receive here, so all visitors can browse the interests of myself and their fellow traders.
Do you manage your bad trades like Rob Booker has suggested on Trader Radio by taking larger positions at extreme over bought/over sold areas to turn a bad trade into a good trade? Or do you simply wait out the position until it turns around in your favour? A. I do not take large positions […]
Do you use MT4 to get all of your statistics or another external system? Do you use something like myfxbook to give you data on individual trade etc? A. I download my transaction data from myfxbook.com. I use only their base data then interpret/extrapolate from that to get the analysis I want. I’m only interested […]
Why during the book does your drawdown continue to grow so substantially if you are hedging your bad trades? A. The scaling up section of the book details the story of my trading as I slowly grew my account and developed my experience. I steadily increased my trading size (and therefore my risk) as I […]
I’d like to know more about your hedging strategy. How does it work? A. The hedging strategy gets a lot of attention but from my point of view it’s such a small part of my system. It is also one of the aspects which demands a very individual approach – mainly in terms of the […]
What do you mean by Drawdown? A. Drawdown is defined in the Glossary of the book. People define it differently in other aspects of investing and finance, but I defined it in my book so it would be clear what I meant. My definition – The net position of all open trades at a point […]
You have the KD indicator on your charts. Does your robot take trades using that indicator? A. I have the KD indicator on all my charts but the robot makes decisions based on its internal KD settings.
I see pending orders on your charts. What are they? A. Plutus opens a pending order as a potential hedge trade. I usually delete it and customise an approach to managing any trade which gets close to that hedge level. This happens to 1% of my trades.
What leverage do you use? A. I have 200:1 leverage on my trading account. You can’t avoid using leverage to some extent but I try to never get even close to the point of any warnings from my broker etc. Instead I keep plenty of capital handy.
Is your Plutus robot available to purchase? A. Plutus is available through Rob Booker. His lifetime members have access to it including my settings and my how to guide. If you don’t already follow Rob, you can start at www.robbooker.com
In March of 2016 your FXbook account http://www.myfxbook.com/members/Hose80/tenfortyone/1059719 had a loss of (-2.53%) yet the results published on your website for the same month show a 6.9% positive result, is this a mistake on your website? A: You would have seen mention in the book that I had a few accounts running at that time. Actually […]
Once Finch has opened its second trade do you let it sort itself out or do you enter manual trades to help to reach its profit target? A: I let it sort itself out – I do have a hedging trade a long way from price at that point, but I tend to want the 2 […]
Scott, If Finch has triggered its second trade do you immediately open another instance of that same pair or do you wait for a period of time before doing so? A: This part of my system has triggered many questions and it seems funny to me because it’s such a minor part of what I do. […]