Today I’m reviewing a service that focuses on trading signals and private account management, Steady Capture FX. The service is based on a Forex trading strategy that is “built on the principles of consistency and professionalism.” The name has been in the market for some time, so I figured it’s time that I take a closer look and give traders a place to leave their own personal reviews as well.
The name of the trade manager for this strategy is not revealed to the public, but we do know that the manager is located in Canada and has been trading under the SteadyCapture alias since 2011. I’ve read one article from 2013 the deems this trader “the best Canadian FX Trader on ZuluTrade.” All technical support is provided via Forexsignals.com, so there is no way to reach the SC trade manager directly.
Steady Capture FX Review
The strategy itself focuses on technical analysis and fundamental analysis utilizing all of the major pairs. The strategy has also recently added gold and silver to the tradable assets, while utilizing multiple time frames to take advantage of quick scalping trades. The Steady Capture FX method is most effective when the markets are ranging, as this is when the software can open very short and effective trades. They do tell us that the system will occasionally open trades that last over a week, but this is very rare, as “the average trade duration is less than 12 hours.”
The goal is to keep a drawdown below 30%, and this is achieved by utilizing money management and stoplosses that are employed on every single trade. Currently there is a 44 trade cap, but this is rarely ever reached as the system looks to trade 5 to 14 positions at a time on average. The utilized leverage is 150:1.
- Type: Forex Signals/Managed Accounts
- Price: Undisclosed
- Strategy: Fundamental/Technical Analysis
- Timeframe: Multiple
- Pairs: All Majors + Gold and Silver
That doesn’t seem to be a specific price for the Steady Capture FX signals, but they do give a structure on the cost of the managed accounts. Traders can sign up for a managed account by signing up with the minimum of $1000. At the end of each month there is a 30% performance fee which is taken from the wins that month. My hope is that when there is a losing month, that they roll this forward and don’t charge traders the 30% performance fee until it is recuperated. I doubt that this is the case, but it’s certainly something they should do, especially if they want my business.
I recently reviewed another trading account very similar to this one, that is very closely associated, FX Viper. I recommend that you check that review out as well, because it will give you even more insight into this service.
Steady Capture Myfxbook
The Steady Capture Myfxbook account has been running since early August 2015. In this time, the account has gained 44%, with a drawdown of 7%. In looking at this account, it’s quite clear that the strategy is very low risk. In the 2 years there have only been two significant drops, but neither of them have been above 7% obviously.
In looking at the most recent open trades, I do have a little bit of confusion. These trades are showing over 8000 pips in current profit, with one of the trades showing a gain of almost 12,000 pips. Yet, when I look at the history, the average win is in close to this. In researching further, it does come across like the strategy will from time to time to leave trades open for extended periods of time. The average trade length is 4 days, but this is adjusted drastically by some trades that go for almost an entire year.
I would like to see more of an explanation for why that is, because it is very unlike a scalping strategy to ever hold trades open for such a long period of time.
Personally, I prefer the reliability and faster gains of automated trading solutions instead of Forex signals and managed accounts like Steady Capture FX. With that being said though, this does come across as a very low risk strategy that has been time-tested.
If you’ve used this signal service or managed account, please leave a comment and let us know your experiences.