Fx Viper Audio Interview 10th Feb 2016 | Forex
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I've prepared a brief audio interview with FX Viper to discuss the current situation with his trading and the escalating EURUSD. If you're having trouble hearing the audio, please enable subtitles.
Comments
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I know there was a lot of negativity around FX Viper in recent times and I even found myself criticizing him seeing the inevitable short of the EUR USD. However, let's face it, he was right with the direction, it just took some time. I can't help but feel a little bit sorry for him. I suppose this is the nature of copy trading these days. The traders are under IMMENSE pressure.
Thanks Nick for your transparency in posting these videos. -
Even if he is / was in a downswing, i like that guy, pls keep us updated with good ol' Jeff :)
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Sad that he had a little struggle, hope FX Viper will come strong out of this
Best, Jeff -
I wonder how is he doing now? I really liked the last interview I saw where you went to Toronto.
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This makes me feel better.. during this exact time I did exactly what he did, and no I was following him or copying him.. the difference is when I too saw that this was a ridiculous 500 pip move and I was losing 5k on a 20k account.. The next day I lost another 3k and the 3rd day I lost almost 1k.. I got beat up bad, when traders decide to jump ship on the USD they do it with such fury it's like something I thought in August I would never see again..
I learned from my rookie mistakes, I was making 2500 every month for 4 months of full time trading.
My advice to be a full time trader..
1. be debt free before you trade full time or at least only have a mortgage payment..
2. learn how to lose.. you cant win every trade, dont chase over leveraging your account.
3. I want to repeat #2.. learn how to take a loss.. If you have a 20k account dont bet 20 dollars a pip do 5 then if it goes against you 30 or 40 pips then increase to 10 and if it goes against you 40 more increase to 20 per pip, if at that point you start losing more than 5% of your account balance just close it take the lose.. there will be others trades.. if you find your self frustrated and really mad.. take a day off I promise not meeting your goal for the month to the exact amount is better than losing 50% of your account due to trading with anger or chasing. Good luck!
Mr PIP -
This Viper guy is realy a very bad trader, the clown keeps adding again to losing trades. Its time the market takes this guy out
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He just could not take a small loss. He keeps making the same mistake every time. I pray for his folowers.
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Fx Viper is a great trader and I respect him, but I see eur/usd continue the bullish momentum to test the previous highs at 1.14 area, if it breaks it will go to 1.15 (Nov 2015 resistance) then the monthly target is currently at 1.1648 and then alway to 1.22 (important pivot area), this is why I always trade with a stop loss, you can predict the market, but the market will do what wants to do and we have no control of that, I hope it's not the case, but if eur/usd keeps the bullish momentum, it will be a big drawndown on whoever follows his trades.
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Why is everybody freaked out about his drawdown? That's a normal part of trading. Even billionaire investors suffer losses such as Warren Buffet with IBM, George Soros with JC Penny, and John Paulson with gold (for not selling).
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Since the fundamentals where in place, buyers came in and moved the price up waiting for the fall in order to make profits on the on the down side. Keep up the great work Jeff!!!! it all part of trading.
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An account over $ 200.000 and trading with a 0.15 lotsize for a gain of 2.2 pips its pathetic
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This right here really is a testiment to the difficulty of trading and people need to relax and let jeff do his thing . If you could do better he would not be managing your accounts . accept this as the hard part of trading making money is the easy part but surving a drawdown like this is the real testiment . some traders take draw down by closing out a bunch of loosing trades and other ride out the waves .
good luck jeff .. -
Nick your videos attract haters in mass.
Please more interview-type videos with pro traders.
Kilimanjaro? -
Wil Dragi's speech come to the rescue ?
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And the cracks start to appear...
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In order to get a grasp on his trading style risk, you need a trade by trade log of his realized and unrealized account returns, std dev of returns, and his avg number of trades/year. Take these returns and using several thousand Monte Carlo simulations (# of sims depends on std dev of returns and confidence desired) apply these returns to a simulated account balance. Put these few thousand simulated annual returns into a histogram and that will start to give you a picture of his system risk. A positive equity curve does not convey much info imo.
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on what platform is FXVIPER trading ? NinjaTrader?
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come back here next year with current account balances in mind. will be fun..
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Just a reminder to everyone...... This is why you use money that you can afford to lose. If you can't afford to lose it, you shouldn't be trading/investing in the first place. Only invest an amount of money that, if you do lose the entire amount, you can shrug your shoulders and go on about your business.
No wonder why he stopped trading for these guys.