Updates

Update for the morning of 13th November 2015

Firstly, let me wish you all a good morning and say that I hope you have all had a good week and have an even better weekend. This is just a courtesy update to let everyone know my thoughts for the day ahead and what happened last night. So we have one trade that I opened last night, a buy on the USDCHF. I opened it as I felt it was at a level which shows good potential for further rises, and had expected at least 1 of the 5 FOMC speakers last night to give some further signal on Monetary policy that would reinforce the idea that the FED plans to start moving towards normalization.

Unfortunately this did not happen, and the markets seem to not be fond of this fact, with the result that the USD has lost some ground and our trade is currently in the red. I would have liked it to be green at this point (wouldn’t we all), but nobody is perfect and I am entitled to make errors in judgement. With that said, I am not overly concerned at this point, since we are still very much in profit thus far this week and I am confident that a combination of soft Swiss data (inflation) and firm US data (retail sales, sentiment) will turn this trade profitable before the day is over.

Ideally I would like to make one or more new trades as the day progress but as it is the weekend here and I have not spent much time with the family this last week, I will be busy and may not get the chance. As many of you know, I do not open just for the sake of opening. I only open when I feel there is opportunity and this aspect of my strategy will never change.

There are a few more nice things I noticed in the last day. The first is that the volume of pointless questions on my wall has decreased, which meant it was easier to reply to my copiers and followers who had genuine questions. I also realised that there are now more than 700 brave people copying me, which actually makes me feel good about myself and makes me feel that I am doing something right.

The community on this site continues to grow, and I thank you all for your very nice comments and compliments and for participating in the forums. I would especially like to thank all of those who are participating and helping others and making it a nice place to be, I genuinely could not do it without their help. I would like to be involved more myself, but I honestly do not have the time. I don’t say this to try to act important, but I am really busy with life and work and I have to always look after my responsibilities. Hopefully when things are less busy, I will have more time to interact with all you.

On a darker note, it is Friday the 13th so let us hope that none of us have any bad luck πŸ™‚

Wish us all a great day,

Mohammed

11 Comments

  1. Thanks a lot for everything you are doing for us. Enjoy your time with your family that actually is the reason why we work so hard (most people)
    You have been very kind sharing your time AND knowledge. Apreciate

  2. Hi Ohmegee,

    In my opinion the position you opened have green potential. It is for now a bit red, but how are you supposed to predict every little movements of the market? A 30 pip down can reverse easily, above all on a day with important news for the two operands of the pair. And if it does not, well the odds were in your favor so you did nothing wrong.

    It is already old news now but i wanted to point out something else. There are few very profitable traders like yourself on eToro. One of them is still doing an awesome job but will leave the platform soon. The reason is that he was earning the PI bonus, and eToro denied him his money because he allegedly touched a score of 9 for ONE HOUR during this month of trading. eToro representative called him and suggested him to aim at 3% a month, while he does much much more, like yourself. As he feel this is very unfair to himself and to the copiers, he said on his website he will be leaving to another broker where he could be copied too.

    So watch out copiers. Some PI with past stellar results suddenly become productiveless and people hope it is only temporary. The truth is that they were trading with maybe 100$ – 300$, and their investment is now growing alone with the 400$/month of the PI, at the expense of the copiers.

    Ohemgee is NOT one of them. This trader who’s leaving is NOT one of them. But the majority IS! On the light of this choice from eToro it is clear that they goal is not for us to profit, but to stagnate. Remember people we are their clients, we pay eToro spread and fees. They are here to serve us not the other way around.

    Sorry to somewhat hijack this topic Ohemgee, but I believe it must have been said (once again?)

    Thanks again for your good work, and the time taken to answer questions. Your blog is a great source of learning and inspiration.
    Thumbs up!

    1. And that is why we never put all our eggs in one basket, because nobody is always right. Thanks for the vote of confidence.
      Is that why Andy is leaving? I heard he was but did not know why. Can you double check that this is true and let me know please? I’m not happy about this and I am going to try to do something about it if it is true. This is not acceptable. The customers should always come first.

    2. Hi all! First of all let me congratulate you OHEMGEE for the great trader you are! I do love your blog where you share your ideas and movements. It’s really impressive!

      Regarding your post (fsggauthier) yesterday I was talking about this same thing with a friend of mine since we noticed some comments in some traders feeds.

      I really think eToro is doing this stuff plus I think they are entitled to! Me and my friend found this on the Popular Investor Program:
      “Responsible Trading – throughout the relevant month the Popular Investor traded according to the responsible trading guidelines published on the eToro Websites, as amended from time to time.”

      I really hate this, because if traders get to that point (of 1k copiers and above) is because people like them and they’re trading plus they understand the risk involved even more when eToro do give the risk table! If I copy a trader with high risk, that’s really my problem… I do understand the risk involved and I do want him to keep trading as he always did and not be “responsible” to eToro eyes where he would have to lower is trade risk…

      I did enter eToro to learn and copy some good traders as OHEMGEE, but this program really feels that retract traders from doing what they do best!

      Sorry for the long post, just wanted to give my 10 cent opinion and share this with you.

      Thanks,
      Dew

  3. Hi Mo, great week you did for us!
    Thanks and stay with your family, they really deserve, the best of you.
    Have a nice week end with a lot of good luck, despite friday 13)

  4. Andy is certainly talking about leaving and closed all his trades down last night. He targets 20% a month, but has achieved more. However even though his score didn’t register on the stats page as 9 the bonus was withheld.

    They also asked him to close trades that they classed as to big.. He did mention only be able to achieve 3% profit due to the restrictions on his trading strategy, which is why he decided to switch brokers.

  5. Thank you for your good job Mohammed, it is a rare opportunity for us copiers to be so well taken care of. I can confirm the Andy situation, another platform well be presented next week so we can have several baskets for our eggs πŸ™‚
    Have a nice weekend!

  6. Gutted if Andy has gone as he as my No1 trader
    1 – Andy
    2 – Ohemgee
    3- Anglechristine
    These are my best traders by a long way and all good people who trade sensibly and make good money.

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