Greeting Zulu-Traders. A quick word of thanks to our readers for the regular and top-quality comments! Also many thanks to my buddy Townjet over at http://zulutrade-top.blogspot.com/ for his quality blogging.Anyway, here are the results from demo of 5 providers which started last Sunday. It shows once again the trecherous nature of provider picking. Be sure to scroll down and read the conclusion at the bottom.
Coolie 1997 came out on top with +246 pips with 5 straight winners. His maximum drawdown was -59 pips and only one open lot at a time. Even more convincing is that he traded 5 different pairs without a single overlapping trade! The only negative was that he closed out the week with an open trade -89 pips.
Next up was Trendcatcher who was down -100 pips on 4 small winning trades and one nasty -182 pip loss. These were all GBP/JPY long-side trades which doesn't show the degree of stabilty displayed by Coolie.
Third up was Zun who was down -246 pips on 16 total trades with 12 winners. Zun looked alot like the classic Zulutrade provider, trading only GBP/JPY and taking a lot of small profits and a few large losses. How else can you win on 75% of trades an still come out with a large loss?
Fourth up was AchterFx who was down a nasty -713 pips on 5 EUR/USD long-side trades. He started out with a 14 pip winner, then got into a string of 4 EUR/USD long trades and stuck with them all week before closing them out early Friday.
Last up was GasCan69, down a whopping -749 pips on 12 trades with 4 winners and 8 loosers. GasCan stuck close to the GBP pairs trading only the GBP/JPY and the GBP/USD pairs. He got badly whipsawed by the GBP, selling it, then buying it and selling it again with 8 straight loosers. Its hard to imagine how a user could tolerate 8 straight loosers and lost 20% of the account in only week. After all, it took me almost 10 months to loose 40% of my $10,000 account!For the record - GasCan69's public record shows he was up ~+970 pips on the week. Based on his comments below, my record was dismal because my stops closed out at some of his loosing positions which later came back to show a profit.
To summarize, the providers as a group lost -1562 pips or an average of -300 pips per provider. And keep in mind these are the cream-of-the-crop in terms of Zultrade providers!
What's the takeaway? Be careful with real money. Use the demo accounts and get to know your providers in detail before committing real funds. Demo accounts are much easier and much less stressful way of watching the fascinating on-line economy which is Zulutrade!
Have a great weekend.
Hi, just wanted to point something real quick.. well since I use a 4hr for targeting profits and placing stops sometimes I can take heat of about 200-250 pips.. I think its ok since I target big profits too.. so out of those 8 trades you lost you could've seen some huge gains this week if you didn't override the stops to 180...
ReplyDeleteIn the end its your money if that stop loss is too much then stick to your plan, anyway in the future I will just skip trades with high potential risks and keep it down to arround 150 pips to suit most traders out there...
Its really nice to see providers talking to subscribers so that we can come up with a plan that makes us both happy :) keep bloggin man...
Gascan-
ReplyDeleteThanks for the comments - if 180 pips is too tight a stop, then go ahead and suggest what you think it a better stop value. In other words - don't change your trading plan based on my stops - maybe they are too tight!
Let us know and thanks for reading.
280-300 pips stop would be good considiring that I am trading off a big time frame 4hr chart.
ReplyDeleteGascan-
ReplyDeleteOkay, i'll adjust the stops on the demo account to 300 pips and we'll see how you do next week.
Thanks again for the feedback,
http://zulumon.blogspot.com
Great comments,
ReplyDeleteAs a trader, I am glad to see providers talking to the traders. I am new to Zulu and look forward to learning..Thanks gascanman and tcx..I love to blog about forex..very well done my friends..
Jim
Jim-
ReplyDeleteThanks for the kind words, we appreciate it!
Hi, Please follow me on my new zulu account... TheKillerz ... IT was a big mistake to use MT4 EA they ruin my trades, skip signals, never close positions and about a dozen of bugs.. so I've been asked to create a new account I wont be using EA ever again.. please follow me at this new account... TheKillerz
ReplyDeleteBy the way Zulu support is a BIG JOKE!!
Gancan - Will do.
ReplyDeleteI hear you on Zulutrade support, I don't even bother to contact them anymore......
Hi GasCan69, I don't like the fact that you open many trades at a time. If I want further exposure to your trading I can use more lots, you don't have to open many trades. It gives me a feeling that you try to get good stats/history, at that makes me uncertain if I want to subscribe you live.
ReplyDeleteWhen it comes to Trendcatcher, it says in his profile that you must be able to survive drawdowns up to 500 pips. I have followed this advice, and have a 500 pip stop loss on Trendcatcher and two open lots, and I have earned 280 pips on him the last couple of months. Usually he doesn't have drawdowns as of the last months, at least that's my experience.
But I see your point Tcxmon, that he isn't a provider suitable for subscribers with little balance.
Peter
I only did that on the new account so I can pass the 30 trades mark so my profile becomes visible to my subscribers... Right now I open a maximum of 2 trades first one closed at the first target an I let the second one run for big profits or exit at BE if the market reversed.
ReplyDeleteOkey, I understand. That sounds good! Good luck with you trading!
ReplyDeletePeter
I tried to comment a couple of times last night and I don't think they took. I have been following GasCan69 for over a month now. I have put a very tight stop loss at 100 pips. This of course my not be the best place for it as I have noted GasCan has an average 100 pips on his trades. I have not been doing well with this stop loss. Since 1 to 1 is very difficult to obtain, I am going to give GasCan a 1 to 2 meaning on average of 100 pips to max stop loss of 200. So I am moving my stop loss to 200 to see what happens. I also wanted to mention that I am very impresses with Coolie1997 right now. Hopefully he does not change. I am really liking that he pulls a few trades over 100 pips and when he has his losses I cut him off at 100 pips. This means I keep everything in-between, which has been paying off big. I put him in my real account a couple of weeks ago, as I liked his trading style and could not resist. Hope he holds strong, as I think others out there will see him as a winner as well and this guy could get very popular.
ReplyDeletehappy trading.
I also like to continue winning for all of you, but it depends on my sixth sense（笑）.
ReplyDeleteAnonymous-
ReplyDeleteOkay, I get the reference to your sixth sense and the funky characters.
Coolie - if that's you, drop us another hint or something. The more we know about you, the more confident we are in your abilities. Your record is impressive, but your description doesn't give us much to go on.
Cheers, Tcxmon
My Japanese profile says the same thing in detail.
ReplyDeleteTonight I will tell you some more things... using an English dictionary.
Please wait till then. Bye now.
Coolie is not me. It's my son born in 1997（笑）.
ReplyDeleteYou may not see （笑） right in your screen. It means sort of lol, but not so loud.
Anyway, I am not a professional trader. My real trades are swap-point purposed long-term ones. Zulu trades are not real because I am not confident in my abilities as you are.
My (almost) only strategy at Zulu is to increase real users. For example, if users don't like me to hold two or more positions of the same currency pair at the same time, I will not.
And of course users like such signal providers who make profit constantly. So I'm trying to do that.
My profile of Zulu is basically true. I don't believe that you can forcast future rate by analysing past movement. So I am not interested in technical analysis and don't have knowledge of that. I don't use any systems either.
Then what are grounds for me to buy and sell? Sixth sense is not 100%（笑）.
I'll tell you some more about it tomorrow.
If you have any questions, please ask me. I will answer almost anything.
See you tomorrow. Father19??