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I am a former stockbroker and Treasury Manager. I have worked in the industry for some time including at IG Group and Fidelity.
Managed Account: https://secure.blackwellglobal.bs/register/?lid=432&amp ;pid=12210
WhatsApp: https://whatsapp.com/channel/0029VakHsWE4NVifIczOSN2u
Telegram: https://t.me/BlackwaveTheReal
TWITTER: https://twitter.com/BlackwaveFx
YouTube: https://youtube.com/@BlackwaveFX
Website: https://www.Blackwave-Forextrader.com
Managed Account: https://secure.blackwellglobal.bs/register/?lid=432&amp ;pid=12210
WhatsApp: https://whatsapp.com/channel/0029VakHsWE4NVifIczOSN2u
Telegram: https://t.me/BlackwaveTheReal
TWITTER: https://twitter.com/BlackwaveFx
YouTube: https://youtube.com/@BlackwaveFX
Website: https://www.Blackwave-Forextrader.com
Gary Comey
Strategy and position size are most important. That said $NZDUSD may be attempting a swing lower high vs Aug 0.6468. $EURCAD more complicated but taking leadership from $EURUSD too. I am hoping for one more win for the books in November towards 6.5-7%.
Gary Comey
All trades closed for now. Back to cash. 6.11% for November has beaten October’s 5.99% with a few days to go still. Those who never withdraw get exponentially compounded returns but all of your money is always at risk. Some withdrawals are healthy.
Gary Comey
Not much point in jumping into anything new on a Friday afternoon. Long $USDCHF into the weekend with a 0.02% DD, a 1% week and 5.77% growth for November so far. There should be more in $USDCHF in the coming sessions.
Gary Comey
4.66% gain for the month so far which is not bad for just the 11th of the month. BIG $EURUSD wins yesterday . I began Blackwave Algarve with €164K while on holiday in Greece a month ago. Current #skininthegame €180K. Puts me on track to give another €10K to
St. Kevins boy school.
St. Kevins boy school.
Gary Comey
Quiet enough ahead of #NFP. We’re just in one basket $EURUSD, and six positions into it using lower position sizes. DD about 3%. In case of a further decline today I will not be adding more positions until I see stability.
Gary Comey
2022.11.04
Update: Decent rally in EURUSD gives me some confidence to enter NZDCAD on the short side.
Gary Comey
Boo 👻Almost 6% so far this month for #Blackwave Algarve. There seems to be a pause in price action while we wait to see if Dollar weakness is a new trend or not. Previous $EURUSD resistance is now support at circa 0.9840.
I could trade other pairs eg. $USDCHF but it's basically all a dollar story across major and minor forex pairs. As you know I won't trade exotics or #Bitcoin :-) Happy Halloween.
I could trade other pairs eg. $USDCHF but it's basically all a dollar story across major and minor forex pairs. As you know I won't trade exotics or #Bitcoin :-) Happy Halloween.
Gary Comey
All trades closed for now. Back to cash. Those who never withdraw get exponentially compounded returns but all of your money is always at risk. Some withdrawals are healthy.
· 2
Gary Comey
Strong dollar is the running theme though AUDUSD is showing some signs of hesitation. The weekly candle is inside the range of last weeks candle. USDCHF advance is now into an area of heavy congestion going back to 2015 and I am not in a hurry to add to the single sell position until there's evidence of exhaustion/reversal. Weekly Stats: All in €170K #skininthegame
Gary Comey
Amazing to see that #Blackwave California turned a profit with GBPCHF. The little engine that could! Blackave Algarve is where most of the money is now and we're at about 3% so far for the month. Calm and patient trading taking account of the widening ATR across many pairs.
· 2
Gary Comey
After 5 years and $265K in profit withdrawn Blackwave Pacific has “failed” as a result of the recent extreme moves in the Pound vs my strategy. Still the original deposit was $5k and people doubted it roughly once per month for five years until they were eventually “correct”. God speed, Blackwave Pacific changed my life, built school yards and bought Portuguese property and was a major cash cow.
The managed accounts also failed though withdrawals were several million dollars higher than deposits by the time they did fail. This is not a business for the faint hearted but in an industry famous for smoke and mirrors the only honest thing to do was have my own skin in the game.
We begin again with renewed confidence and will fund Blackwave Algarve not with $5K but this time wth €150K and a number of safety amendments. PM me if you’re brave enough.
“The person who risks nothing does nothing, has nothing, is nothing, and becomes nothing. He may avoid suffering and sorrow, but he simply cannot learn and feel and change and grow and love and live.”
~ Leo F. Buscaglia
Consilio et Animis
#skininthegame
The managed accounts also failed though withdrawals were several million dollars higher than deposits by the time they did fail. This is not a business for the faint hearted but in an industry famous for smoke and mirrors the only honest thing to do was have my own skin in the game.
We begin again with renewed confidence and will fund Blackwave Algarve not with $5K but this time wth €150K and a number of safety amendments. PM me if you’re brave enough.
“The person who risks nothing does nothing, has nothing, is nothing, and becomes nothing. He may avoid suffering and sorrow, but he simply cannot learn and feel and change and grow and love and live.”
~ Leo F. Buscaglia
Consilio et Animis
#skininthegame
Gary Comey
By Wednesday Blackwave Algarve will be funded with €157K. That completes deposits in the short term.
Gary Comey
I am writing to you with some sort of explanation. The speed of the move was incredible. Firstly the Pound found itself at its lowest level since 1985 by Friday close. On Sunday night within about two minutes the market dropped from circa 1.06 down to the mid 1.01’s in likely thin liquidity at the open of the asian session. A type of Brexit move. I lost $450K along with you even though I had begun to hedge the exposure, it simply wasn’t enough to cope with a move of that magnitude.
As you know the strategy is to buy into oversold markets which GBPCHF already was when I began back at 1.17 a full 15,500 pips higher. I’ve been trading fairly successfully since 2017 and I have never witnessed anything like this so closing trades with a 35% loss didn’t occur to me last week. If you think back we’ve had a fair few 35% DD’s and as was sometimes pointed out to me if I closed everything every time I had a troublesome DD I would have had nothing left years ago. At that point the strategy was to cut one of the biggest losers and use the second basket to eat the DD in GBPCHF.
I am devastated for us all and it's taken me a few days to even begin to write this email. The position sizes will now drop a little and likely hedging will begin at 35%-40% with the hedge paid for by normal trading profit and regular withdrawals too when back to cash. Without those regular withdrawals I would have no plan B. In effect withdrawals ARE a stop loss. I will begin again primarily for myself. It did work extraordinarily well for many years. I don't want to be one of those guys who loses money then disappears.
As you know the strategy is to buy into oversold markets which GBPCHF already was when I began back at 1.17 a full 15,500 pips higher. I’ve been trading fairly successfully since 2017 and I have never witnessed anything like this so closing trades with a 35% loss didn’t occur to me last week. If you think back we’ve had a fair few 35% DD’s and as was sometimes pointed out to me if I closed everything every time I had a troublesome DD I would have had nothing left years ago. At that point the strategy was to cut one of the biggest losers and use the second basket to eat the DD in GBPCHF.
I am devastated for us all and it's taken me a few days to even begin to write this email. The position sizes will now drop a little and likely hedging will begin at 35%-40% with the hedge paid for by normal trading profit and regular withdrawals too when back to cash. Without those regular withdrawals I would have no plan B. In effect withdrawals ARE a stop loss. I will begin again primarily for myself. It did work extraordinarily well for many years. I don't want to be one of those guys who loses money then disappears.
· 9
Gary Comey
Difficult few days with no let up in selling. When we had our EURGBP DD the currency pair at least moved relatively slowly but the speed of this Sterling move coupled with the higher position sizes (though recently reduced) left no shelter given the magnitude of the move. The strategy as you know is counter-trend, buy into oversold pairs and sell into overbought pairs. When I bought GBPCHF in the 1.17's it was already oversold weekly. Now this market is trading more than a 1000 pips lower than that. There is talk of an emergency interest rate hike by the BoE next week but who's to say if that will help of if it will be seen as a sign of weakness by markets. The Swiss National Bank said only yesterday that they were willing to intervene in the forex markets to weaken the Franc and yet today the Franc strengthened even more and they did nothing. Perhaps between the SNB and the BoE combined actions MAY take place next week. I am profoundly sorry that we have all lost money here. I lost $66K, some lost less but some lost much more. As you know most of my (Blackwave's) money is in the medium risk Blackwave Pacific and I plan to shore that account up in the next few days if this relentless Sterling selling continues. I plan to try and ride out this extraordinary move and then make withdrawals when it's over. I appreciate that some people are throwing around emotions here tonight. You are entitled to & that's fair enough. For my part I sill have over $400K in the market and the game continues next week managing my money and for those who are still in Pacific and California. Finally I called the company Blackwave because in retrospect we can all see the waves on the graph and the plan was to ride the waves. Tricky endeavor in the ocean and not much easier in markets. Nevertheless this $GBPCHF market will turn. We all know this.
· 4
Afficher tous les commentaires (5)
Stavros Giorgalli
2022.09.26
Perfect time to revive this beast of a review:
“ After 1 year I've unsubscribed despite Gary's good performance so far that I still hope will continue and Gary and this signal be doing good however here are the reasons I believe this signal will be a failure: 1) the claim that the risk is approximately 35% is not true for 2 reasons, we have already seen the drawdown has gone to 48% and the stop loss hasn't been taken for whatever reason. Also when there is such drawdown a simple market gap can destroy the account therefore this signal is a time bomb I believe. 2) I have come to believe, by months/years of back testing, that Grid Trading in general although looks profitable, is absolutely wrong and will certainly, without doubt, destroy the account one day no matter how small the lot sizing and how large the distance between trades, risking the whole capital to gain small wins. One mistake will destroy the account. It's gambling. The truth is there is no price level that is too high or too low for the market so there must always be a stop loss never exceeding 3% of the account. 3) Grid Trading is torturous, watching your account reaching high drawdown for weeks and months while praying your account doesn't blow up! 4) The performance figures on MQL are fake, they miscalculate and don't take into account the many deposits and withdrawals properly so the true performance of the signal is manipulated. 5) Good safe traders risk 1% per trade and enter only trades with potentially 5:1 reward potential and let the profits run - the only safe way to make money consistently - it's hard to master this way of trading, it's why most people grid trade. It's a joyful way of trading watching your profits grow rather than watching your losses grow So if you love yourself and your capital, stay away from anyone who does Grid or Martingale Trading which is a disease in this society. It's easily identifiable by looking at the chart if it's continuously going up. Good luck!” Glad I didn’t get back in after the EURGBP mess.
“ After 1 year I've unsubscribed despite Gary's good performance so far that I still hope will continue and Gary and this signal be doing good however here are the reasons I believe this signal will be a failure: 1) the claim that the risk is approximately 35% is not true for 2 reasons, we have already seen the drawdown has gone to 48% and the stop loss hasn't been taken for whatever reason. Also when there is such drawdown a simple market gap can destroy the account therefore this signal is a time bomb I believe. 2) I have come to believe, by months/years of back testing, that Grid Trading in general although looks profitable, is absolutely wrong and will certainly, without doubt, destroy the account one day no matter how small the lot sizing and how large the distance between trades, risking the whole capital to gain small wins. One mistake will destroy the account. It's gambling. The truth is there is no price level that is too high or too low for the market so there must always be a stop loss never exceeding 3% of the account. 3) Grid Trading is torturous, watching your account reaching high drawdown for weeks and months while praying your account doesn't blow up! 4) The performance figures on MQL are fake, they miscalculate and don't take into account the many deposits and withdrawals properly so the true performance of the signal is manipulated. 5) Good safe traders risk 1% per trade and enter only trades with potentially 5:1 reward potential and let the profits run - the only safe way to make money consistently - it's hard to master this way of trading, it's why most people grid trade. It's a joyful way of trading watching your profits grow rather than watching your losses grow So if you love yourself and your capital, stay away from anyone who does Grid or Martingale Trading which is a disease in this society. It's easily identifiable by looking at the chart if it's continuously going up. Good luck!” Glad I didn’t get back in after the EURGBP mess.
Gary Comey
2022.09.30
Hi Coronabeats. I notice my name on mql5 is the same as the one in my birth certificate. Is yours?
Gary Comey
2022.09.30
Coronabeats… or can I just call you C, I don’t do martingale. C even including the disaster that account still made over $100K in a few years. Sorry if you lost, sorry if anyone did. I began in 2015 with $5K C, I will begin again with €200K. Think about that C. Enjoy anonymity C/ keyboard warrior.
Gary Comey
1. With the Pound so beaten down across the board will the #BoE rate decision cause further weakness or is it a case of sell the pound and buy it again after the rate decision. Is this scenario mirrored by the #CHF. Buy it before the rate decision and sell it afterwards.
2. I think anyone who tells you they know the answer is speaking from emotion. They would own the world if they knew. Trading is a head game. Most traders defeat themselves in spite of technical or fundamental analysis and all the "expert" option from staff at investment banks.
3. Trading strategies are built to cover scenarios that are emotional so that you don't have to think much in the moment. You just execute the strategy, therefore I will do that. The company is called #blackwave because it swing trades the waves on a grid with a soft SL.
4. We've seen that in action this week. It's not nice to acknowledge the trade has gone too far against you but not to acknowledge it is not clear thinking. We don't stand in front of a train saying "I don't believe in trains". :-) We execute the strategy. We must be nimble.
5. In November 2021 I amended the strategy following a prolonged DD in $EURGBP with negative SWAPS. Attached is the Blackwave Strategy. As I said, we write these things down so we are not headless chickens in the moment.
2. I think anyone who tells you they know the answer is speaking from emotion. They would own the world if they knew. Trading is a head game. Most traders defeat themselves in spite of technical or fundamental analysis and all the "expert" option from staff at investment banks.
3. Trading strategies are built to cover scenarios that are emotional so that you don't have to think much in the moment. You just execute the strategy, therefore I will do that. The company is called #blackwave because it swing trades the waves on a grid with a soft SL.
4. We've seen that in action this week. It's not nice to acknowledge the trade has gone too far against you but not to acknowledge it is not clear thinking. We don't stand in front of a train saying "I don't believe in trains". :-) We execute the strategy. We must be nimble.
5. In November 2021 I amended the strategy following a prolonged DD in $EURGBP with negative SWAPS. Attached is the Blackwave Strategy. As I said, we write these things down so we are not headless chickens in the moment.
· 1
Gary Comey
Morning. I’m employing my “November Strategy” here namely using about half of this mornings profits to take a loss in the biggest $GBPCHF position. Therefore average entry improves for $GBPCHF, safety increases while cash still goes up. Our carry trade continues to earn too.
As the first position was opened more than a month ago I won’t wait any longer to begin employing the November strategy. Positive SWAPS definitely make this trade more comfortable but it won’t save me shaving a few points off the average if I can increase cash simultaneously.
#skininthegame www.Blackwavetrader.com
As the first position was opened more than a month ago I won’t wait any longer to begin employing the November strategy. Positive SWAPS definitely make this trade more comfortable but it won’t save me shaving a few points off the average if I can increase cash simultaneously.
#skininthegame www.Blackwavetrader.com
· 1
Gary Comey
2022.09.15
I've taken the biggest #GBPCHF loser off across the board in all of the IC Markets accounts. Arguably I didn't have to, however we are at those "soft stop" levels where I feel action is required. Also added another #GBPCHF position at the 1.10. New average entry circa 1.1414.
Gary Comey
More Russia gas worries weighing on our positions though keep in mind the positive SWAPS situation. The longer this goes on without a major deterioration in an already deeply oversold #GBPCHF the more the odds move in our direction due to the carry trade.
Gary Comey
Slightly disappointing end to the week but the weekly candle is a doji and #GBPCHF may be looking to form a meaningful bottom by 1.13. In the meantime we collect positive SWAPS. Given the tight range doing less is more. #skininthegame Blackwavetrader.com
Gary Comey
When the market gives us progress and then takes it away it’s time to breath and remember that your trading system has a positive expectancy and to focus on trading well and let the money be a consequence of that. We’ve had two spectacular months so this now is unsurprising.
GBPCHF is a carry trade, which is to say the longer it goes on the more positive SWAPS we accumulate, far different from the negative carry trade we extricated ourselves from with $EURGBP in March.
Finally, I would of course rather push a button and get instant profit but older clients will know my patience is an asset here. I’m not playing Fortnight 🙂, it’s a serious business and I’m happy with the swing trade.
GBPCHF is a carry trade, which is to say the longer it goes on the more positive SWAPS we accumulate, far different from the negative carry trade we extricated ourselves from with $EURGBP in March.
Finally, I would of course rather push a button and get instant profit but older clients will know my patience is an asset here. I’m not playing Fortnight 🙂, it’s a serious business and I’m happy with the swing trade.
· 1
Gary Comey
$GBPCHF prospects improved off very oversold levels. Former daily support in the 1.1530’s is now resistance. Anyway let’s not count chickens. Our position size is how we control risk and then we just need the patience to let markets get on with what they do.
Gary Comey
2022.08.17
Yes Alex you are not the only one. A guy also contacted me on Twitter. Unfortunately I don’t usually have $85K to deposit but was simply carrying out what I said I’d do a few weeks ago on this forum. Sorry that some people were affected. I wonder will I disconnect from Mql5 next April and allow subscribers to join the managed accounts at IC Markets. Anyway I will think about it.
Gary Comey
2022.08.17
Also I beg to differ on the “already large DD”. Expect 35% DD’s in that account a few times per year.
Aleksei Lunacharski
2022.08.18
Thanks Gary! Yes high risk here is totally understandable and acceptable. It's just some limitations/caveats of the MQL signal copy technology. No, please keep your signal on - it's one of the top 5 for me. And it's good idea to allow people choosing their own brokers. It would a big loss if you gone.