Welcome back Zulutraders and Forex fans.To your left, please find the top 20 providers by live trade for trades closed from 12/20/2009 through 12/24/2009.
Overall trade volume was about half the levels of the prior week indicating many traders are taking a break from trading for the rest of the year.
Our favorite Cheetah moved up to the #4 spot from #5 last week. The other 4 traders just swapped positions with Surfing and LowestDD getting bumped out of the top positions and being replaced by sharp forex and smart forex.
Former favorite Bigwin had a big week, raking in a bunch of pips and moving from position #26 the prior week up to #17 last week.
That's all for now, check back later for more updates on automated forex trading.
You really have to re-think the way you analyze traders, your favorite trader (favor of the month) is “Cheetah” and what kind of trader open over 15 trades against the strong UP movement we started to have on Wednesday Dec 30 and still on Thursday Dec31 with the GBP/USD still going up Does not close All those losing position and instead is now “Hope trading” this is way you have Blown up your account,
ReplyDeleteYou need to look at the history or the trading log and look into the DETAILS, This will tell you all you need to know about the traders mind set. You need to reconstruct THAT DAY and look at the chart, time of day, news event and see how they handle a lose, did they stop and reserve? did they just keep revenge trade on a strong trend like “Cheetah” has done over the last 2 days, or did they have an open trade before a major news release that just made profits because they had an open floating trade? Which really shows an act of not caring sense those gains could have made the floating losses even worse.
All you’re the analyses you have done and you still blew up your account, which tells you ITS NOT WORKING. Because you like ever one else just focus on the GAINS IN A EVERY SHORT TIME, you need at least 8 months of history this will tell you all you need to know,
If you need to watch your account then you HAVE THE WRONG PROVIDER PEROID!
I would post this on your friends other website, but I am sure he will read this and same applies to him.
Those ‘Live” account sign are bullshit what happens to providers with mirco accounts? They lose pennies you lose dollars, OR what happens to provider with Accounts at Currenex or Dukascopy, really you need to re-think what you are doing.
Jimmy
Godd commentary Jimmy, I agree with what you are saying. It requires a great deal of scrutiny of the data to find a trader who is making safe and logical trades. Any trader can open simulated trades, adding as the trade goes against him, then simply wait out the drawdown period and eventually make a couple of pips and call it a successful trade. It is complete and utter nonsense to conclude that such a trader is a good one. Cheetah has 30!!! open short trades on GBP, with massive drawdown. Cheetah belongs on the scrap pile after this debacle. He should find another occupation.
ReplyDeleteMy pet peeve about Zulu has been that many traders open way too many trades, a la Cheetah, in hopes of bailing out of an initial bad trade. I think I"ve found a trader who hasn't done this since the end of June 2009. That trader is Surfer. Nearly all his trades (he's a scalper mainly) are stand-alone trades, that is he opens a trade and closes it before any new trades are made. Back in June, he once once had 10 trades open at the same time, but since then, as far as I can tell, this hasn't happened much at all, if ever. Anyway, that's the kind of trader I want if I trade thru Zulu - someone with a sense of safety for capital. Most of these other cowboys will send you to the poor-house within weeks.