I want to know about Forex signals

[EDDY_MO]

Good strategy Betty Boo!!
the greenback is getting stronger + I read some good performance on the NZD (as per Reuters data) though i did not manage to trade today, lost the 3 trades i opened manuallly

[meseany]

After the recent disasterous draw down on ZTs to traders, whereby they averaged into a trade without any stop losses (and lost over 900 pips) I’ve decided to implement the following - which is working so far - albeit one day but it’s the concept I’m in favour of:

1. To implement my own stop losses
2. To close any attempt to average into a trade - I did the sums and I would have lost 100 not 900 pips
3. To reduce certain traders number of trades per currency
4. To close a trade if in profit if I’m happy with the amount - all too often $50 becomes -$50

Any more thoughts are appreciated.

BB

[meseany]

Ive had a good day today - with my tight grip on Zulu trader

[EDDY_MO]

That is correct BB i think you might be on the right track.

i think you should close trades with min damage, imho!

any other comments on strategies?

[meseany]

That is correct BB i think you might be on the right track.

i think you should close trades with min damage, imho!

any other comments on strategies?

Day 2 of keeping a tight grip on my Zulu signals. I’ve added a few more traders got around 6 now - all restricted to 1 trade per currency so no averaging.

I manually closed a position today - due to having 2 traders on a long Eur/usd - one closed out at break-even so I closed the other at a +15 pip profit - ie I took the view of the conservative trader that things weren’t going as planned so I took all the money off the table - this is also part of my strategy - to go with the conservative trader.

[meseany]

I also learnt something else yesterday - quite interesting…

I’m monitoring my Zulu traders on my demo ac because here I’ve not restricted them to one trade per currency so I’m able to see any averaging into a position at which time I’ll go into my actual account and close the trade - ie I’m taking averaging as a sign of weakness and taking my money off the table. I did some maths and even if averaging wins 9 out of 10 times (which I think is way optimistic) the one time it losses just wipes everything out so it’s a no no for me.

But I also noticed something else - on my demo account a pending order kicked in - I was already up 32 pips and the pending order turned out to add another 24 - nice little earner for the day - just one problem! The same said pending order did not kick in on my actual account and was still pending - damn! I worked out that it’s down to slippage - ie a demo account doesn’t suffer from slippage since it’s not real money whereas my actual account didn’t engage the pending order since by the time it came to me the position had lapsed.

In future I’ll make sure all the demo pendings are reflected in my actual account

[EDDY_MO]

Betty boo, i did not understand quite, you sending your signal from a demo or live?
or you are following with a demo/live account?

[meseany]

Im following with a live a/c - Ive all on managing my incoming to send any out

[EDDY_MO]

hell betty boo, sorry for the intervention but there is no live follower in your profile…
btw u closed some nice trades yesterday

[meseany]

Hi Eddy - there will not be anyone following me :)… Im doing better now Im strict with the signals I am following

[EDDY_MO]

good for you betty boo!! keep on doing the good job.
i like the fact that you take time and discuss your trading in the forums…hardly anybody does this anymore…

[meseany]

Well it’s a pleasure - Im here to learn and pass on any good points…

I’ve tweeked my system a tad - I’m now allowing 2 trades of same currency at a time - max SL 85 in some cases 70 - I’ve scanned over their past 100 trades to see that this is sufficient.

Also - only traders who take out 1/2 trades a go per day at the very most.

Im ignoring signals who:

1. Average into a trade (which Im also preventing with 2 max currencies at a time)
2. Open 5+ trades of same currency at a go - I could limit them to 2 as above but Ive found that these guys tend to trade around 3/4 times a day with a “the more you through at the wall the more will stick” mentality - this gambling thesis aint for me.

I’m aiming for around $100/day which Im doing since last Thursday.

You a trader Eddy?

BB

[EDDY_MO]

BB,
no i am a follower, only…

[meseany]

You should like my Zulu strategy then…

[christinaa]

How is the signal service going Betty Boop? Are you still doing your Zulu thing?

[meseany]

Hi Chris,

Yes - I am playing out a news based strategy at the moment - my latest efforts are taking me down programming an EA based around news releases so it’s all go - and you?
Sean

[christinaa]

oh ok, Sean do you know any good signal service that you can recommend?

[meseany]

Hi Christinaa - may I recommend that you let me help you. I’ve tried and looked at a lot of signal providers but none will ever trade the way you want them too.

I’m developing my own strategy which I’m prepared to share with you if you like. If you have any time then maybe it’s something we can collaborate on.

What do you think?
Sean

[EDDY_MO]

Hi Christinaa - may I recommend that you let me help you. I’ve tried and looked at a lot of signal providers but none will ever trade the way you want them too.

I’m developing my own strategy which I’m prepared to share with you if you like. If you have any time then maybe it’s something we can collaborate on.

What do you think?
Sean

Sean!! Happy to read a post by you :18::18:
hows trading going on? still sending signals on zulutrade?

[Pipstages]

Could anyone assist me with some good fxsignal services ?