Zulutrade Weekly Update - 11/6/2009

Welcome back Zulu-fans.

It was a good week in the land of the Zulu's and my live account finally showed some signs of life.

The last of my positions with Coolie 1997 got stopped out at a loss of -180 pips sending my account to fresh lows. Coolie went on to close that position with a +72 pip gain after a max drawdown of -188 pips. So unfortunately, my stop turned out to be a hair too tight on that trade.

On the bright side, I added provider Bigwin on Monday first with one lot. He quickly picked-up a few pips and I added another lot with my 180-pip stop. After taking in 7-pips he went into drawdown and I nearly got stopped out (down -163 pips) which would have been very bad and probably would have blown me out of Zulutrade for the rest of the year. But I hung in there and he came back to close that trade up +3 pips.

As the week went on, he slowly picked up steam and closed the week with 10-straight wins up +145 pips on the week with my 2-lot limit. On his public profile, he picked up 1390-pips on the week, trading between 10 and 20-lots at a time.

I was particularly impressed with the way Bigwin traded on Wednesday and Friday. In both cases, he layed low until after the big event of the day (FOMC and NFP) and then picked his entry point carefully. Friday's trade was downright surgical, picking up 40-pips on each trade in about 20-minutes time with about a 10-pip drawdown.

The more I learn about trading, the more I realize that its all about being selective. It takes a lot of discipline to ignore 98% of the price action and sit on your hands 98% of the time and wait for that one trade. But that's what I admire in Bigwin and other successful traders, and that's a goal I aspire to myself.

That's all for now, enjoy your Friday evening and i'll update performance on the demo accounts i'm following over the weekend.

Tcxmon