I’ve been trading forex 5 years and the last 2 years on a full time basis. I have learned money management is the key to any successful trading business as I adhere to keeping my stops very tight 20-30 pips. On average over the years I have achieved 1:1 risk reward ratio and 10-20 percent monthly returns. I dont believe in over trading and I will take 1 to 2 trades on a nightly basis. I just registered myself as a signal provider and I would like to journal my journey as a Signal provider with Zulu trade.
Since introductions are completed I am compiling this journal to track my journey as a SP and to document my thoughts on trades and progress on Zulu trade.
My first trade was completed on the pound dollar and it was successful for 19.4 pips stop was set at 12 pips above the prior high. If i held onto the trade it was a 90 pip move however the goal is to make short and steady gains. My rank as of yesterday is 17499. This needs to be improved by weeks end.
My goal is to improve upon my own trading and I believe journals are a great way promote great discipline and to keep myself accountable for my own thoughts and actions.
When i entered long on the British Pound I noticed price to be consolidating and was almost positive price was going to break out to the upside. After a few attempts at breaking resistance I got out with a small profit. My hard stop was set at 23 pips and limit at 35 pips. Depending on price action I will do countertrend plays along with trading with the trend. Tonight was one of the few nights this pair trended to the downside. I wont look into catching any reversals or waiting for deep pull backs until tomorrow london open. I just noticed my rank improved to 8753.
Second trade counter trend reversal was the one and only signal I should have taken for a positive 30 pips. First trade was ultra aggressive on my part and I definately need to be more careful. If theres a deep enough pull back i will take this baby short. In the end I am in the green three days in a row because of Strict Money management strategies set in place. My live account is up 2.7% for the week so far. Lets see if I can rank higher on the totem pole after today.
Hey Zulu
I like your journey. I very new to forex and so I’m starting at the bottom - in kindy. Steep learning curve and I’m grateful to Baby pips for this site.
I will do whatever it takes to seem creditable. I noticed most or if not all of the top ten are demo accounts. I will set up my real account and link my zulu. I hope this will eventually attract some followers. As of now i have 0. I wonder if i smell funny. haha.
Market is consolidating as of now. I am unsure which way to trade and if i did, I would be gambling my money away. On a side note I think its very strange many of the top zulu providers with high winning percentages who sit thru large drawdowns wait for a retracement. How does one gauge risk since theres no hard stop. For example I have a 1000 dollars in my account and risk on average 2% per trade and stop is around 20-25 pips. I now know I can trade 1 mini lot. Lets say I hold a negative 200 pip trade waiting for it to retrace back to my entry. Now I am down more then 20% of my account. I really think ZULU should take a hard look at those providers and rank sp’s accordingly.
it sure it will :) a live account is always a better indicatior for higher thrustworthiness
from me you will have all the objective comments from a followers point of view
The night just didn’t pan out the way it should have. I followed my entry rules today only to get stopped out . Second trade was a breakout trade however the breakout didn’t Occur. It was just one of those bad trading days. I am in the process of filling out the paper work with my broker to do the transfer of accounts.
those bad days will exist, do not worry. just keep them minimum at the losses to be little. losses up to some pips can be absorbed by the small followers accoutns no worries about it. it si the big drawdowns that do the major difference.
good luck with the paperwork and we all are waiting for you and tyour live account.
I am done for the week. Followed my plan today and ended the week down 2% of my equity. Since I started with Zulu I deviated a little from my trading plan and it cost me on a few trades. However tonight i am happy to have Followed thru on my one trade but the market just didnt cooperate. Not every week will be profitable but be confident in the system. Next week will be an awesome week for all of us
I sent in the paperwork for my live account to be switched over to mt4 so I will be trading from my real account next week on ZULU. Other then EDDY is there anyone else following this thread? Not sure if its even worth the effort!
Hi gkawa
Please keep going with your thread. I’m following you. I would respond, but as I’m in kindergarten in the baby pip lessons, I don’t have anything worthwhile to contribute. I want to share your ups and downs, your wins your losses, because somewhere in the future I’m gonna be in the same boat.
Thank you for posting. I will keep a ongoing daily journal of my trading on Zulu. My hope is to show all that trading can be sucessful venture for those who put in effort studying and learning the markets.
SO far only mixed indications of market direction. I will sit on the sidelines and its a big possibility there will be no trades that will be executed. I am trading my real account and no such risks will be taken.
indeed markets are bit wierd acting this week…it is better to not trade, rather than trial and error trying to squeeze out profitability of lossing possitions, no?
