Welcome back to the Zulu-jungle.Our favorite Zulutrade provider Coolie 1997 took a bit of a hit this week. After pulling in 96 pips between Monday and Wednesday, I woke up on Thursday to find him short GBP/USD and long EUR/GBP, both essentially short GBP. These trades faded in and out of profitability, but both ended up going into drawdown. Coolie closed out GBP/USD down-168 pips (just short of my 180 pip stop) and as of now is still long EUR/GBP which is showing a -90 pip loss. Perhaps that one will come back next week on some EUR strength or GBP weakness.
Looking at the demo account, he's still up +332 pips for the 3 weeks he's been in demo mode account, less the -90 pip open loss.
More depressing is the fact that I added Coolie to my live account last week. So the GBP/USD loss hit my live account hard sending it once again to fresh lows. Disaster seems to follow me around and as soon as I start blogging about providers, things seem to go bad and they blow up. I haven't given up on Coolie yet. But I ask myself - after 20 straight wins without more that a 100-pip drawdown, what did I expect?
Anyway, Coolie-san has been very forthcoming in his comments to my posts, and here's his recent comments:
"As I wrote before, Zulu is not my real trade. My real position aims profit of swap-point in a long run.The current position component is as follows:Long AUD:98%, NZD:2%Short JPY:69%, USD:31%The oldest pair is AUD/JPY opened in 2002. Accumulated swap-point is 2,940 pips.It is easier for me to predict which currency becomes higher after a year, rather than after one day.That is the reason I am not confident on myself for a short-period trade (that I wrote this too) and I may not be a good signal provider.The purpose of this comment is to tell the readers the fact. Of course I will try to make profits in ZuluTrade as much as possible as I did in the past.Regards,coolie1997"
I believe he's referring to the fact that in some countries you can hold cash position in other currencies directly in your bank account. Its unlike the highly-leveraged CFTC-regulated accounts we have here in the US.
Anyway, I think its worth noting that Coolie-san himself does not have much confidence in his Zulutrade positions. Short-term trading is a tricky business and (as Coolie himself indicates) its much easier to make money with long-term bets than short-terms ones. I find that to be the case in the stock market as well.
But the Zulutrade community seems to have a lot of confidence in Coolie, since he's #4 in terms of total users behind only Lowest DD, The Hunter and Pro-B5. So i'm sticking with him for now and let's hope we have better results to show next week.
I seem to be having problems with Firefox, and comments not posting... I started out with a loss using Coolie1997. Put me down -78 pips in my account. After today, even with the losses, I am still up +284 pips (+194 if I take the -90 on the open position). Coolie-san, do not feel bad about the loss, you stand out in a sea of Zulutrade signal providers as having great control, and a great method. I hope you continue to do what you are doing. Don't feel bad about the loss, we would not be playing in forex if we did not understand we would have losses. I love what you are doing and I hope to continue trading with you.
ReplyDeleteJT-
ReplyDeleteThanks for the kind words and for your ongoing confidence in Coolie-san.
By the way, "san" is an honorary suffix used in Japan. Its customary to append san to a name when addressing the person. Calling someone by their plain first name is reserved for intimate relationships.
Hopefully I haven't offended too many of our Japanese friends in the process of learing that one.
In my case, "mon" is already an honorary suffix. Its a reference to Jamaica, where "Ya mon" is synonymous with "Yes sir".
Coolie-san refered to me as TCXMON-san which redundant and sounds awkward. But he was being polite and respectful and certainly can't blame him for that. So Coolie-san you can just call me Tcxmon or Chris which is my real name.
Also he's been very forthcoming in his contributions to this blog so we thank him for that.
In any case, enjoy your weekend and i'll review the demo accounts on Sunday.
Tcxmon
Thank you JT and Tcxmon (w/o san)
ReplyDeleteThen you do not need to put san to me either.
Can't you hold positions forever in your broker? I only keep positions for years. That's all.
One more merit to keep positions is no need to pay spread. Everytime you trade, you pay spread. This is not good for brokers though.
Regards,
coolie1997
Coolie1997-
ReplyDeleteOkay, will drop the san. Have a great week,
Tcxmon