Nice name you’ve got there - liked your profile as well, so Iadded you up on demo to see more, hopefully I will see some good pips 
Hi RWCLS , wish you good trading performance in zulutrade , are you planning to always use stop/loss?
Thanks for the comment sngerge, I will pay attention to those figures. I agree, number of weeks trading and maximum open positions are very important. There’s nothing I can do about the passage of time, but I intend to keep my max open positions no higher than what it is now, i.e. 11.
Thanks
Cheers EDDY MO, all I am asking is for people to give me a shot for a couple of months. I think a demo is a great way to do that. I go through losing phases regularly when I am establishing myself on a trend, but once the trend gets going I make it my business to ride it as long as possible. Don’t get disheartened by the regular small losses, when the big catches are landed they are more than enough to compensate for the small losses.
Thanks
You seem that you know your stuff and I am always happy to support SP that care about followers, even future ones. Keep on being like this, imho, and I am sure you gonna get tons of followers behind myself;)
cheers!
Hi Johhnypip, I would readily admit that I am almost obsessive about risk management. Although my profile says that I use an MT4 EA, I am in front of my screen always when making entries. In terms of stop loss, I don’t always set a stop immediately upon opening a trade because I read price action to tell me when to get out. If I am leaving the screen I always set a stop, preferably to breakeven where possible.
I know many signal followers have been stung by providers who let losing trades run. I never let losing trades run. Consequently, as I say in my video, if followers want to set a manual 50 pip stop, as a precaution, I am fine with that, but it is likely that it will never be hit. If I see price moving against me I close my position quickly and clinically. If my view of the market is that I should trade short, yet price is retracing against me, why would I have a short position open? Close it and open another when it is clear that price is moving in the intended direction again.
My stats so far show that my largest losing trade has been -37 pips. My average losing trade is -8.5 pips.
By contrast my largest winning trade is +254 pips. My average winner is +82 pips.
I acknowledge that my trade success ratio is very low at 13% but I will be working on this. For me, trade success ratio is an irrelevant statistic if you are profitable by running winners and cutting losers, but I now understand that it is important to potential followers so I will make a conscious effort to improve it.
Thanks for the comments.
Well one of my main criteria for selecting a provider is that they communicate with their followers - so RWCLS, with your blog, your tweets and coming on here - excellent - we can see that you are a serious trader.
Another criteria is being able to sleep at night (and work through the day), without stress and worrying my account is in jeopardy - so cutting losses, again - excellent.
Totally agree about the win percentage - a 90% winning ratio is totally and utterly irrelevant on it’s own. Most traders on Zulu are like this - 9 days taking their 10 pips, then the 10th day/trade is over 100 pips loss. But it feels good to be winning for 9 days and only losing 1, then after another run of winning days, you soon forget the loss. It is better to have 9 losing days of 8.5 and one winner of 82.
So, yes, if you can just get your ratio up a little - I mean just to 20%, you are talking about 100 pips profit every 10 trades.
At the rate you trade, that’s about a week’s worth of trades, so 100pips a week - I’d take that for sure!
Now, there is one thing that would prevent me from following you live, and that is you are not trading from a live account - although because of your communication, and I can see that you are serious, that’s not actually a deal breaker.
However, would you perhaps like to comment on the reason for this?
In the meantime, you are on demo, good luck and thanks for explaining everything so far.
Thanks for the long reply RWCLS , i agree with pauldodman about communication with followers , i also do admire that in a provider. I will be watching your trading perfromance closely.
Hi pauldodman
That’s a fair question. First of all, my own main trading account is with Oanda, which is not supported. I have been with them for years and I trust them so I would be reluctant to leave, but it’s not something I have ruled out.
When I was looking at Zulutrade I noticed that there are 3 ways to provide signals, from a demo account, from a demo account that you follow yourself, and a live account.
Obviously the main issue is one of credibility, you should have skin in the game yourself if you expect investors to risk their capital with you. I entirely understand this. The issue that seems to come up in relation to sending signals from a live account is that slippage, rejected orders, refused orders, etc., can be a problem. I can understand this, having traded briefly on a demo before going live myself; it is a different trading experience. When you are paying, what is, let’s be honest about it, a high spread on Zulutrade, additional slippage can cause a marked difference to final trading results between signal provider and signal follower. There are some good articles around the internet that show the effect of transaction costs on return, they are actually quite frightening, so any way to minimise additional transaction costs should be implemented.
As far as trading from a demo with a live account following the signals is concerned, I don’t really see what credibility that adds to a signal provider, given that he can just decide to not follow his own signals.
As far as sending signals from a demo is concerned, yes, you don’t have skin in the game from a trading account perspective but if you are serious about developing a good core of investors, your trading results will be the most reliable source of credibility or lack thereof. To be fair to Zulutrade, there is nowhere to hide, your results can be analysed to death and if you are found wanting you will be found out. If your trading results don’t cut it, you won’t get followers. Similarly, if you build up a large following and your trading goes awry, those followers won’t be loyal to you - they will leave.
Let me be brutally honest with you lads - I think I’m a pretty good trader. But I am naturally very risk averse - I will never turn a $100 into a $10million in a year or anything like that. I am looking at Zulutrade as a reliable means of supplementing my income as a trader, which on my individual account, is meagre. Some people think that once you have mastered a trading strategy you wake up the next morning a billionaire. It’s not like that. It’s about working hard, keeping on top of the market, keeping on top of your emotions, generating consistent sustainable returns. Unless you start with millions, which I don’t have, you don’t make millions if you are returning 5% per month. We all know the magic of compounding but we also all have to eat and pay the rent at the end of the month too.
I am serious about getting a group of followers together that have trust and confidence in me. I have decided to do this through a straightforward reliable trading strategy and a communications strategy that is not found elsewhere on Zulutrade. If I was going to turn up to pimp out signals just looking for commission I wouldn’t have the statistics I have, even just after 5 weeks. I wouldn’t be blogging and tweeting regularly on my view of the market. I’d have 30 trades open every day, all running losses, hedging, 95% success ratio. I guarantee I’d be at a higher ranking than I am now too and have more followers and commission. I think my results and communication over the coming months will show that I am a bit different to the average signal provider.
Anyway, after all that, the long and the short of it is, I don’t know yet what I’ll do in relation to a live account. I think I will give it a few months and see if my strategy garners much of a following. It’s not an attractive strategy to a lot of investors, many can’t handle 3 losers in a row. If I am doing well and I think that a live account would improve my standing and be beneficial to my followers I will certainly open one.
Thanks for the question though pauldodman, glad I had the opportunity to answer it.
Thanks.
Bottom line is there is no holy grails, you just have to monitor it, maintain minimum losses and maximise your profit in the long run. Keep up the good work!
there is never a wholi grail anyway or the best strategy. Imho, addapt and adjust to each trader, and try to get as many as good trades going on to your account.
That’s precisely it - that’s my philosophy in a nutshell.
Thanks
I added you on my live account rwcl, because of your young profile you will have just one chance. I run the winners and cut the loosers. Good luck
Thanks vision1987 - I consider it a privilege that you are prepared to invest your money with me. Please be assured that I will not abuse that privilege.
Please familiarise yourself with my statistics and how I trade. I will have have many more losers than winners so please be patient; the winners always come and they always wipe out the small losses with more for profit. That is the essence of running winners and cutting losers.
I update my blog Run Winners Cut Losers regularly with my view of the market. I also have some information on the psychology behind my strategy. I am on twitter at @RWCLS .
Thanks again,
RWCLS
Please don’t open more than one position for each pair, never add to loosing position and I you want to add to a winning one, please wait for strong confirmations. Not overtrade. These are the rules you have to respect in order to keep your signals into my account.
Sorry for contraddiction… You can open more than one trade just by adding to a winning one…each pair.
I lost you there my friend.
Anyone profitable in zulutrade and tradency?
I am deffinitelly profitable with zulutrade and for quite some time now.
Tried tradency but did not succeed much. what about you? where are you trading?
If you check out zulutrade, those with hunderd of followers and millions of money following the SP, you may wan to add on to your account. The ranking system is a quick guide also to choose SP.