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.
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My initial investment has been pretty much slammed so I have decided to just use Pro-B5 and not check my account but once a day. I believe that the only way to make money with the service is with providers that only open 1 trade at a time. May we both improve our luck in the coming months! Thanks for the updates!
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