or Mike, another solution is to use a customized stop level in your follower account, based on your initial equity and risk appetite 
imo, you usually should leave the trader trade as he wishes for, or smartly has done some calculations on the entry/exit levels.
fx turtle price action- nice results âŚnumber 80 in the ranking within one week of trading!
seriously respect
Itâs not #80 ranking, but the number of pips gained. Just to clear that out.
ooohhhh right!! sorry for the misreading
ZuluTrade - Signal Provider Performance - FxTurtle
This is to reply to Mikeheart regarding his comment intended for me in the other thread.
Three stop outs in a row would not be a cause of concern for my live trading account and those followers if they are only trading 1% per trade because my winners will recover them eventually as you can see that my winners are way bigger than my losers. 3 stop outs in a row would mean between 500 to 800 pips loss for me since I take three trades for every signal. My account risk management is built to withstand a draw down of 1,500 pips. They way I do this is I reduce my position size whenever I am losing and increase it when Iâm winning.
To all readers, three or even 5 stop outs may happen, but when it happens, I will still be here and my live trading account will still be here. The question is, if you follow me at ZT, would you still be able to continue trading? IF you guys have a smaller account and decides to follow me, set your maximum trade for me as 1, that way draw down are minimize, but set your initial TP at least 300 pips.
This is the reason I want followers to follow me in a demo or microlots until at least 10 weeks.
IF they can handle looking a gain of 300 pips turn into just 150 pips or a gain of 200 pips turn into just 50 pips then theyâre trading personality is in line with me. If they cannot handle that, then either they will close their positions at whatever they think is good enough for them like setting TP at twice the SL or not follow me at all. See attached.
The reason I enter three trade is that so I can scale out winners at some support/resistance levels, but keep one open position until it gets to its maximum TP or a reverse signal is taking place.
To continue from my previous post, here are the current open positions of my three SP accounts. As you can see my SL are just breaking even eventhough most of the trades is already up more than 100 pips. As a follower, would you be able to handle emotionally if the price reverses and all trade ended at the stop loss? Iâm not closing them because by by doing that, iâll be second guessing my strategy. It still have room to go up based on the charts and the candles confirms by analysis. However, there is no guarantee.
As a follower, you could scale out one or two , say at 150 or 250, or whatever that is comfortable with you and let the rest run. That is the reason why I take 3 trades for each signal.
ZuluTrade - Signal Provider Performance - FXturtle - Gippy
ZuluTrade - Signal Provider Performance - FXturtle - EURUSD
ZuluTrade - Signal Provider Performance - FxTurtle
really nice points there turtle !!!imo, open a thread as well in the zulutrade forum⌠this way you get to reach more followers
End of October 5, 2012 performance update for my best performing SP account in Zulutrade.
ZuluTrade - Signal Provider Performance - FxTurtle
End of October 5, 2012 performance update of all my SP Zulutrade accounts.
ZuluTrade - Signal Provider Performance - FxTurtle
As I said in my earlier posts that I trade my signal in a live account, below are the results so far. I have no separate MT4 account for the price action account. I trade those signals on my MahiFx account, which I opened just two weeks ago.
Forex Factory : xtrader101âs Profile @ Forex Factory
Myfxbook EURJPY: EURJPY System | Myfxbook
Myfxbook EURUSD: EURUSD System | Myfxbook
Myfxbook GBPJPY: GBPJPY System | Myfxbook
[B][U][I]IMPORTANT: Please do not follow my position sizing in my live accounts because the amount I deposited in those accounts is just a small percentage of my total trading capital.[/I][/U][/B]
OK, noted! thanks for the info.
so, if i am lets say to follow you(and only you) with a 1K account, how much should i attribute lots and number of trades?
Hey Eddy,
If you follow with only $1K, ideally you can only follow me with one microlot. However, if youâve follow me for a while (more than 3 months) and youâre comfortable with the way I trade, you can attribute 3 microlots as long the the total risk of the 3 microlots does not exceed 3% of your equity. If it exceeds 3%, just trade 2 microlots.
My recommended setting for new followers who is not yet fully comfortable with my trading style is 1 microlot per $1K or 1 minilot per $10K.
My top priority in Zulutrade is capital preservation of my followers.
thank you fxturtle!!!
for the nice advice and for the time that you dedicate on us the followersâŚrarely we see a SP to do that actually
so ture, fxturtle have this good vibe about him⌠keep us posted and keep up the good workâŚ
[B][U]IMPORTANT[/U][/B]
For every signal, I break it down to 3 trades, so I can scale out winners at different levels. This is the main reason, why I take three trades for each signal. When my trades are already green say 300 pips, I might hedge 1 or 2 or even 3 positions when there is a good reason to do it.
Now the problem with followers who are only trading one or two position. Now say I closed one position at 200 pips and still have 2 open positions which I hedge when it went up by 300 pips. The followers with only one position was closed at 200 pips, that will be problematic if I open two positions to hedge my two remaining winners. They wonât have winners to hedge.
If the price move to the original direction, I will close the two hedging positions (the new trades) at the stop loss and let my original trades run if they keep running. Follower with only one position will be left out.
My suggestion is follow all my trades to mirror my performance, unless your account is really small. If you have $1K, please trade 3 microlots maximum if youâre comfortable with the risk if not just trade 1 microlot. [B][U]The ideal capital stays the same which is 1 microlot per $1K[/U][/B].
Example:
I Short EURJPY at 101.50 (3 positions)
I Closed 1 position at 100.5 (2 positions remain)
Price goes down to 98.0
I Buy two long position at 98.0 and set SL at 97.80 to hedge my two winners
Price goes down 97.80, two longs positions (hedging position) stopped out
Original short position remains
Impact: Followers that trade only one position have one long position that got stopped out at 97.80 is now -20 pips. If the price still goes to my maximum TP of 800, you wonât be able to gain the pips.
ATTENTION US CLIENTS: Make sure your broker will allow hedging.
FX turtle: you are the best provider, like ever traded on zulutrade!
seriously!!! im beyond impressed with this analysis
Thanks Eddy for the kind words.
Performance update - End of October 12, 2012.
- Fxturtle - Most of the unrealized gain from last week of around 500 pips just turned into around 137 pips realized. The pair broke the rising trend line then turned around in a hurry. I was waiting for the pair to pullback in 101.20 lastnight, but it did not reach my buy limit. I Will probably add one more position next week if there is a compelling reason to do so.
ZuluTrade - Signal Provider Performance - FxTurtle
- Fxturtle - EURUSD - Same as Fxturtle, the pair bounced up in a hurry. Three long positions opened.
ZuluTrade - Signal Provider Performance - FXturtle - EURUSD
- Fxturtle - Gippy - This pair has been extremely volatile for the past two months. Only two long positions were opened until this volatility is reduced. Same as Fxturtle, most of the unrealized gain last week evaporated.
ZuluTrade - Signal Provider Performance - FXturtle - Gippy
- Fxturtlepriceaction - One position USDCAD remains open. I might make this account private for a while due to work commitments during the day that I cannot look at the market often. I missed some good opportunities last week and this week.
ZuluTrade - Signal Provider Performance - FxTurtle - PriceAction
If you observe, all the accounts above have bigger pips gained than it loses. This is an important aspect that a potential follower should take into consideration. REWARDS should be BIGGER than risk.
I will expand on my trend following accounts (#s 1,2,3) in the next posts.
Regards,
FXTurtle
EURJPY - Good amount of unrealized positive pips last week did not reach maximum potential as the pair bounced in the rising trendline. Trendline was broken , but there was no follow through. The retrace to 100.15 is higher than the retrace to 99.64 and on the daily, the price is again above the rising trendline. If the pair closes above 102.50, it could challenge 103.852 high made on 9/17/2012. Only took 2 positions for this pair, but might add one more next week.
If you are a follower or a potential follower, is it is important to trade all my trade as you can see below. You can scale out 1 position at 100 then another at 200 or whatever level you choose, then ride the last trade. As I mentioned on my previous post, start looking in the historical tab for trades opened on 9/6. Trades earlier that dates should not be counted as I was in the testing phase of ZT platform.
As you will notice, the lowest pip gain is 70 pips and most reached over 200 pips. If we get stopped out on our initial SL say 275 pips. One or two trades could easily recover the loss. For transparency purposes, within the course of a year, we will get stopped out for a few of times, but I will reduced trades according if the going gets rough, so our DD will stay between 600 to 1000 pips.
The same holds true for Fxturtle - EURUSD only all are above 100 pips and only one was over 200. This account would have been comparable to Fxturtle if I started it on the same day in Zulutrade. Right now, this account has a 100% winning ratio, but DO NOT even expect that this will be the case all the time.
[U][B]Fxturtle - EURUSD[/B][/U]
Please note that the result below will NOT always happen every trade as the market has a life of its own and will move the way it wants. HISTORICAL PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
