Hitting my Zulu-stride?

Greetings fellow Zulu-traders-

I'm on the second full week of my new wide stops (-500 pips) approach. I went into last weekend with a loosing long GBP/JPY position, down about -150 pips. I woke up pleasantly surprised to see the position up +100 pips!

From there Oxford forged ahead and picked up about 215 pips for the week. 

We had a big rally in the GBP/JPY with Oxford buying all the way up. In fact he entered at 143.91 and ended up taking a 29 pip profit on that position. Had he stuck with that one position, the would have made over 600 pips on the week since GBP/JPY closed over 150.0 for the week.

I even pulled down 132 pips with manual trades, picking up on Oxford Global's long GBP/JPY positions where he took profits too soon. I also went against him on the last trade of the week and took a 32-pip profit where he went short GBP/JPY at 147.71. This trade turned out to be a bummer and I went into the weekend down over 300 pips for this position nearly wiping out my gains for the week.

So now GBP/JPY is at important resistance at 150. Oxford is short from 7 units all the way from the 147.80 level. If GBP/JPY breaks decisively above its recent high at 151, then i'll get stopped out for another -500 pip loss. I'm pulling for a retracement to the 145 level. If that works, then i'll get my account back to the $7500 level, about $2500 down on my original investment of $10,000. Time will tell.

Best of luck, Zulu-fans.

Zulutrade - pulling all the stops

Greetings fellow ZuluTraders-

As of my last post, I decided to "pull all the stops" and go with Oxford Global FX Group and my old buddy Hehehe. I figured that the only way to make any money with this service was ease the stops up to -500 pips and see if these guys could make any money.

Hehehe came in on 4/29 and sold CAD/JPY at 80.31. The trade promptly went against me and a just over a week later, I got hit for a -500 pip loss. I figured this had to just be bad luck, so I stuck with it. First trade with a -500 stop results in a -500 pip loss - how's that for bad luck?

Back to Oxford Global Fx, starting on 5/7, Oxford started a run where had a total of 7 straight winning trades he pulled in +187 pips. After being a persistent GBP/JPY seller, on 5/12 at 2:44 PM Oxford switched to a GBP/JPY buyer which was completely counter-trend. But I stuck with it anyway and within 2 days, I got hit with another -500 pip loss. Figuring again this was an exception, stick with Oxford Global and on the next trade, he pulled in a 29 pip gain. Then Hehehe came in with a 20 pip gain after being down almost 60 pips.

To add insult to injury, Oxford Global bought GBP/JPY again and now i'm sitting at 6,900, down over $3,100 dollars since my Zulutrade start late last year. Oxford Global (now the provider with the 3rd highest number of users on Zulutrade) has clearly fallen off the rails and re-inforces my theory that there's no such thing as a safe provider.

Similar to Ryrat's observation, Oxford has clearly lost his discipline and is now being wagged by the tail of the Zulutrade dog. He has 491 active users and of is 4959 closed trades, he now has minus 3619 open trades. That clearly put him into risky provider status.

One thing i've noticed is that all successful Zulutrade traders take small profits and let the profits run large. So i'm going to create a demo account and reverse both Oxford Global and Hehehe. I'm going to put in a 200 pip-limit and let them cut their own losses.

I'll keep you all posted, thanks for reading.

Zulutrade gone under?

Hi all. I took a look this Sunday evening (May 3, 2009) and the Zulutrade website appears to be totally defunct. No answers from any of their Web sites.

Next step is to follow up with the FCM and see what are the status of my open trades, and to go into recovery mode.

Looks like the Zulutrade ship has been scuttled. All the best in your future Forex Endeavors!