After careful thought, I decided to sign up as an SP in ZuluTrade mainly to see if it can generate extra income on the side.
IMPORTANT:
Do not follow me with real money until at least 10 weeks of trading in Zulu Trade.
Trading plan:
Currency pair: EURJPY
Maximum risk per trade: 1%
Maximum open trades: 6 (3 long, 3 short - Only in some situations, but most only 3 trades are open)
SL: Range from 60 pips to 150 pips. Please note that SL over 150 is not unusual.
5: TP: Since I break each signal to three trades, initial TPs are between 400 to 800 pips. Please note that TPs are lower when the previous trades are losers to recover the previous loss.
These are my targets, but feel free to set your own TP. There are situations when the trade is already up by 150 pips, but still end up on a loss, but on a reduced SL compared to the initial SL as the SL is already moved up.
This is a swing trade discretionary trading system, so trade can lasts for weeks.
Requirements:
Broker allows hedging due to trading plan #3.
Performance update for the first week in Zulu trade (September 14, 2012).
Note:
Please disregard the Max Open Trades: 7 and the GBPJPY in the history as I was still familiarizing how Zulu Trade works during the first few days.
The 1 follower is me as I would like to know how the signals are received.
I trade these signals on a live account. Please note that signals in ZuluTrade are sent from a demo account with Hotforex because my live account is with Pepperstone. You can compare the trade taken in ZuluTrade to my live account in Forex Factory (xtrader101’s Profile @ Forex Factory).
[B][U]Note[/U][/B]: Do not follow my position size in Pepperstone relative to my equity as the amount deposited in Pepperstone is only a fraction allocated for this strategies and I am comfortable with the risk I am taking.
Sure, will check out this thread for updates and also FF. On the demo, are you planning to go live? If so, what would be your preference [account type, leverage, etc] and why?
Good luck!
What do you mean “planning to go live”? I am already trading this on my live account.
This is a low frequency trading system, so no commission type account would be fine. On average, there will be 4 signals per month, so that would be 24 trades if we close everything every month (4 signals x 3 trade per signals x 2) always preached proper risk management.
THIS SYSTEM IS NOT FOR TRIGGER HAPPY traders. There could be days or a week that we don’t have a trade or wait for weeks to reach our target. THIS SYSTEM IS FOR PATIENT traders.
Leverage and risk percentage is totally up to you, but I always preach proper risk management, that is why I stated 1% risk per trade in my first post for sustainability of your trading capital and withstand any draw down. In my FF profile, I have an account for each pair I trade and each account has a total trading capital of $5K, but only deposited 20% to the broker.
Any more questions, just keep them coming. I want to be transparent as much as possible.
i sense good vibes here, I like how you put out things, keep us uppdated, and thanks for the heads up, how many people now adays would advice trying out their signals on demo first… well said
Someone followed me with around 1K in my other SP account Fxturtle Price Action, which is not supposed to be followed, so I disabled it now. You can follow me with real money after 10 WEEKS, NOT NOW. I only want you to follow FXturtle and FXturtle - Gippy for now. FXturtle - eurusd do not have trades yet, so it won’t appear in Zulu.
Nice, specially like the 1% risk - that sounds good to me. And as regards “being patient”, that just made me laugh out loud for the simple reason traders being patient is more of a dream than a reality. The sad truth, very few traders have mastered this…and that’s one good reason why they are successful. LOL
I tried posting this in my profile but it was rejected.
“Please do not follow me with real money now. Please follow me in a demo for the next 10 weeks, so you can get the feel and comfort of my trades. You must be in the same trading style and risk comfort level as me to mirror my performance. I trade my signals on a live account. You can follow it on Forexfactory under XTRADER101.”
As you can see, my trades are infrequent and last more than two weeks if it trends and when not it will get stopped out within a couple of hours or just within a day.
“Please do not follow me with real money now. Please follow me in a demo for the next 10 weeks, so you can get the feel and comfort of my trades. You must be in the same trading style and risk comfort level as me to mirror my performance. If you decide to follow with real money before the 10 weeks is over, trade with microlots until you’re comfortable with my trades.”
It’s not a win until the position is closed. This is the reason why I would like traders to follow me in a demo or a very small amount, so they can feel how I enter and exit my trades.
For example, currently my open three positions are green by 150 pips each, but my SL is at breakeven + 1. We do not know what’s going to happen in the next hour, it might just go back up and hit my SL at BE, so no win for me. If my followers are not comfortable having 150 pips green turn into nothing, they can have their own TP and they can close now, but for me I’m not closing until my TP is hit or a reverse signal comes up.
