Greetings Zulu-fans. Well all good things come to an end, and the recent love-fest with Zulutrade provider Pro-B5 has come to a nasty conclusion. After last week's -174 pip drubbing, I was still in the money using Pro-B5.This week had a series of 3 GBP/JPY trades (2 lots each) that hit my account hard, -172 pips, -124 pips and the last one (-500 pips). Now recall that I had a -180 pip stop in place, so the first 2 losses are somewhat understandable. But for the last trade, I would expect the most I would loose would be 180*2 or -360 pips, right? Wrong. I woke up Friday to find myself down a nasty
-500 pips on that last trade. I've learned from experience not to bother asking Zulutrade support, since it doesn't make any difference.
So at this point, Pro-B5 has cost my account almost -800 pips and that's more than 3 times as much money as he ever made for me. So for now, he's out as a provider, and I will have to put my faith in my one remaining provider Bigwin. Bigwin managed to side-step the nasty drubbing the GBP took this week.
BTW - I'm really starting to despise GBP/JPY as a pair. It has a very nasty habit of making big, unpleasant account-draining moves. Contrast that with GBP/USD or EUR/USD which seem to make more measured moves.
The only bright spot for the week was the equity market where I had a pretty good week. Check out my stocks blog at http://tcxsystems.blocks.com/.
So for now its back the drawing board. Enjoy your weekend.
Sorry about your loss Tcxmon. For the record I had the same losses. I took the earlier -84 and -59 then I took the whopping -183. I used 3 lots so I got it x3. Pro-B5 has a flaw in that he only averages about 12 pips per trade. It would take roughly 15 trades to make up the -183 loss. Not a good ratio at all. You mentioned Bigwin. I was doing great in July with this guy until he let his trades blow past 200 pips at the beginning of Aug., then later blow down to around -400. I Lost everything I made with him and more. Very disappointing as I though he would be my signal provider which would make me lots of $.
ReplyDeleteOn a good note as well, I did buy some GE stock in which I am now up around 100% on most of the shares. It would seem that recessions are a good time to drop some money into a stock if you can determine if that company will not go away. I am back to the drawing board as well. I have been looking at some signal providers that might have some promise. I may go an extra month just to make sure though.
JT - Thanks for the kind words. Glad to hear you are making back some of these Zulutrade losses in the equity market. Cheers and good trading.
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