Brainbox.I.AM: Beta Testers Required!

Oh...and by the way, you could view the FULL STATS here: http://www.myfxbook.com/members/BrainboxIAM

Regards,

Ty

Hello Brainboxers...and how are your knuckles so far (from grabbing on to the edge of your seats!!! Lol )

RED week continuing...

We thought we'd allow y'all a peek under the hood so y'all will see what happens behind the Brainbox.I.AM scene...

Below is a screen capture of the Equity "Curve" of one of our beta test accounts (beta3_TaDaDa)!

This is HOW we at Brainbox.I.AM view the Forex Market DAILY...this is how we see things. EVERYTHING is on this chart (even DD%).

Now, this is JUST 2 hours before the RED news event: GBP - Services PMI. We will allow our open trades stay through the news and IF we come out on the other side looking really pretty, we will be done for the week!

https://dl.dropboxusercontent.com/u/...ta3_tadada.png

One question though is this...
"Could we have stayed AWAY from trading this week? The Purple Horizontal Line shows our Equity Level at the START of the week! So, yes, we made some good percentages...but was it worth the "price of doing business"...the DD and Whitened Knuckles of our Beta Testers!!!??? Lol. Please DISCUSS!

Anyways, hang in there fellas - we are NOT done YET! Lol - and while you are at it! PRAY!

Regards,

Ty

YOU GUYS ARE DOING GREAT KEEP IT UP

Hello, as you ask here's my short reflection. To date therefore extremely good. However, today I saw the open positions are worried. There is currently no risk to the capital but is so large positions on the minus (more like 100pips) are it safe. or should not be closed quickly losing positions? Close the profit very quickly but losses are kept. In my experience you have to be very careful and act accordingly with MM.
It's fun for big teddies. But we are of them

Question for you, how will you defend themselves against such heavy losses. Wait until the market returns to price or you will try averaged it?

But for me bank profit over 7% in one week is ok. More then 2% daily for me to risk at that time.

All the best,
Kuba

Hello. This is my sugestion.

Maybe you can add to the actual 2 risk settings (Moderate and agressive) one risk setting more, the conservative, si we could have 3 risk settings to select for different investors kind:

- Conservative: lower profit, and lower DD, avoid to trade in all red news to avoid big drawdowns.
- Moderale: like Moderate setting now.
- Agressive: like aggressive settin now.

This way each investor can select the risk setting he likes.

this is just an idea, is it possible?

Good idea fofactsp!

Thank you garrye - your presence here is a GREAT encouragement to us.

Regards,

Ty

Hey K. Thanks for your input.

As you can see, we went through the Red news just fine.

Our style of trading is NOT dependent on the amount of open positions OPEN (lol!)...

Instead it is, as you mentioned, "There is currently no risk to the capital..." THIS is what our managing style KEEPS under CLOSE watch; which is WHY we always say we are only interested in Equity.

We do not keep losing trades running - and neither do we close profitable trades quickly. None of these is "Cast in Stone"...Let's explain further:

- We may close all positions if: Trades are opened AND Profit occurs and hit PRE-Determined "areas": For example: 5%/10%/20% Equity, or a "good" profit before a RED news event, or Equity goes ABOVE the level at the start of the week ya?

OR

- Trades are opened AND Drawdowns occur: Now we have a Choice to make ya? We either cut our "loses" and run! OR We re-evaluate our REASONS for being in those trades and see if those reasons are STILL valid. If they are, we leave ALL positions OPEN and go through the "ROUGH" times (referred to as DD percentage as we have ALL seen this week - which we MENTIONED would happen since this is the "dreaded" RED Week) until we come out on top (doesn't really matter HOW LONG this takes as long as our reasons remain VALID).

Now, the question is everyone's minds would be: "WHEN is enough, enough!?" "When would we call it a day and throw in the towel?" "When do we decide that DD% is enough and Close All in a HUGE Loss...?"

Honestly, we don't know! The HIGHEST drawdown (the REAL DD - not the FAKE one being shown all over Myfxbook) we have EVER recorded (and this was in the "early" days) while trading [Modest1&2 and the Aggressive1&2. Note that the UTC is a WHOLE other ball game!] was 50% DD! So, maybe when we get to 50% REAL-DD we would CLOSE ALL open trades and cry home to Mama!

Side Note: Please if you would like to know what we mean by REAL DD, join our Skype group (see Post#1 on how you can do this - we are not going to be teaching the WHOLE internet what "REAL-DD" means, ya?)

So, XK...this is our MM. So far it has worked wonderfully. Are we saying it's the BEST MM out there? Hell no...ALL we are saying is this: It has worked wonderfully for us. Lol

We are TRULY grateful for the feedback XK. Thank you.

More questions are welcome.

Regards,

Ty

NB:
By the way K, of ALL our brokers, Exness is the ONLY one acting really funny today - so the trades in your account are STILL open! Just thought you'd wanna know eh. Lol. But really - We have seen STRANGE Equity fluctuations trading this Broker which aren't visible with Other Brokers (this WEEK) - and you'd agree that we trade quite a number of brokers ya?

Hello Fofactsp...

Thanks for your response as usual.

Just to note that we DO already have *over 3 risk "settings"...as shown here: http://www.forexfactory.com/showthread.php?p=7697835#post7697835

- UTC
- Moderate
- Aggressive

*"Over 3" because EACH one of the above has more than one "Setting".

These risk "settings" address a myriad of conditions: Account Deposit, Chosen Broker, Risk Appetite, to mention a few.

While your above suggestion would have been a really lovely one to implement, we just cannot because we DO NOT view trading from the vantage point of DD - as we have mentioned again and again...just in case you missed the weekend "comedy" post here: http://www.forexfactory.com/showthread.php?p=7707867#post7707867

To reiterate: Drawdown CANNOT be guaranteed by anyone (at least, that we know of...this should allow us learn ya?). The ONLY way to "guarantee" DD is by NOT trading - period.

Keep your money at home under the mattress or inside of it or something (lol). Once you let that Coin loose on the Fx (or any) market, there goes your DD-Guarantee.


If you TRY "avoiding" ALL Red news, you may end up not participating in the Fx Market entirely. We all trade manually on our own ya? You know HOW these things work: You see a fantastic "Trade Setup" and you pull the trigger. Then the trade just sits there and waits...and waits...and waits...Meanwhile, time is Going and there is a Red News the day after next, or maybe a Red news in about 8 hours time....Well, guess what? EXCEPT you close that position immediately, you MAY get roped into "trading" that Red news!

Long story Short, we really don't CARE much for DD (we have other ways of checkmating Real-DD (see the above reply to Kuba)) - DD's Occur - we live with that daily, week-in week-out!

Our Settings (Moderate, Aggressive, and UTC) reflect the nature (aggression) by which we go AFTER ROI (or Banked Equity in our Case) and NOT the available ROI to DD ratio possible.

We hope this is somehow sensible to you? We know that this takes getting used to but we've had this trading PERSPECTIVE for a while and DIDN'T begin to be profitable until AFTER we let go of "most" of what we learnt in Forex Pre-School. Lol

Ok. We'll move on.

Ask more - understand more Fofactsp. You are WELCOME anytime (even when we don't have the answers! Lol)

Regards,

Ty

Thansk for the answer Ty, I really imagined that my suggestion was not possible, but I had to do it, you know I am curious ;-)

I know that fofactsp - and it's a good thing to be curious in this business. For us, your curiosity is ALSO a good thing because it keeps us on our toes (which makes us see farther ahead than a lot of folk - lol)!

Thanks again.

Regards,

Ty

NOTE: Major Change in the Brainbox.I.AM Myfxbook Profile.

We have decided to separate the Ultra Turbo Charged [UTC] demo accounts from the [Aggressive] & [Moderate] demos since we are not employing that management style to ANY of our current Beta Test accounts.

Please note that our UTC accounts are STILL active and still being traded (lol - that is the ones which are not blown up yet - lol). If you desire to view them simply shoot us a PM and we'll provide the link.

Great.

Well...as y'all know, we mentioned that this week is the RED week so this is the Story so far:

- Most of our beta-test accounts have bee closed and will remain closed until AFTER the NFP news event on Friday, with ONLY five accounts still open. Our reasons for opening are still valid and we will continue to monitor these open trades CLOSELY.

https://dl.dropboxusercontent.com/u/...2000.39.48.png

As usual, your Questions and Input are VERY welcome.

Regards,

Ty

NB: Don't bother complaining about the drawdowns...read the thread from the beginning and you'll get our "take" on DDs. Lol.

A very BLOODY Update...

https://dl.dropboxusercontent.com/u/...2015.16.43.png

So as we have said, and have now been proven right, this is THE Red Week no thanks the ECB!.

So from yesterday we had 5 demo accounts which we left open since our "reasons" were still valid at the time.

Well...ONE of those 5 demo beta test accounts blew up! And it so happens that it was the VERY ONE account we really DID NOT want to blow up! Shiva's Account!

Well...maybe (if Shiva agrees) we would like to "restart" his demo while STILL keeping this blown up one listed on our Myfxbook profile page?

Anyways, moving on...

From the remaining 4 accounts, TWO (2) beta test accounts were closed before MAJOR havoc could be wreaked on them. The other 2 are still running - they may or may not survive.

Out of all 5 accounts, ONLY 1 was [Moderate] the rest were our [Aggressive]s - the POINT being that in the grand scheme of things, IT WON'T matter what system you use on a BLOODY RED News week - your account just might blow up.


The MOST important bit of news is that NOT a single one of our Live accounts was EVER at risk - Even MK's LIVE account, as can be seen, is sitting pretty. WHY? Because we did what we ALWAYS do when we are NOT certain of what to expect as we approach Red news...we STAY OUT. This ENSURES that we live to fight another day.

We would like to appologize to Shiva - we allowed your demo stay open rather than close it at a tiny loss (as K mentioned above). This was VERY experimental...we wanted to see how those demos acted during hell week (as we like to think of them) and your beta test account afforded us that opportunity. Now, in a "real-life" scenario there wouldn't have been room for all this "we are sorry" business but we just wanted to get that in there.

As mentioned before, we will leave ALL the beta-test demo accounts up (listed) for ALL to see - no de-listing here.

Keep on watching the beta tests and Live Accounts - this HELPS us stay focused on what NEEDS to get done to ensure these accounts remain afloat and profitable. Moreover they are great references wouldn't you agree?

You still want a FRONT Row seat to all the Bloodletting? Go Here: http://www.myfxbook.com/members/BrainboxIAM

Thanks for ALL the input - we appreciate them.

Regards,

Ty

Shiva...you gat mail!

Regards,

Ty

Hi TY, I had forgotten all about this account till your in-mail landed By all means go ahead and restart, not a problem! My suggestion would be to treat even demo accounts as if they are real ones, that way all accounts get the same treatment.

Thank you for your kind consideration. From now on by all means!


Regards,

Ty

It's been a looooooooooonnnnnnnnnnnnggggg week folks. Happy to draw the curtain down on this one.

See y'all bright and EARLY (Sunday "night" of course) next week!

Have a fun filled weekend.

Regards,

Ty

The countdown to showtime has begun...The engines are revving, ready for lift off in a few hours time.

Game plan this week? Simple: Increase the Equity on ALL accounts - SAME as always!

Looking forward to the markets mates!


Regards,

Ty

So far so good.

All accounts (both Beta-Testers and Live) are behaving as they OUGHT!

http://www.myfxbook.com/members/BrainboxIAM

Have a splendid week folks.

Regards,

Ty

Best of luck Ty