Very well stated my friend very well!!
btw, any good SPs to recommend to the community here? who iyho, will be good to follow and with what settings?
Since I’ve been away (just had 2 weeks in south France) I left my Zulu account switched on and trading:
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6 signal provides - to spread my risk. All chosen based upon a low draw down, been trading for a good few weeks and have at least a $1m following.*
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all with 150*SL - don’t want to experience the same losses incurred with fx cruise and co-fx who were down 500 pips per trade!
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max lot size $0.4 which accounts for 2 trades max each - this prevents the traders from averaging into any one trade with more than 2 at a time - again to mitigate risk - I’ve seen traders average using 5/6 which if they all turned sour would wipe out ones account.*
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I never interfere with a signals trades - ie I never close them early or create my own trades to hedge against them - I once tried and lost money.*
My lots are $0.2 so I’m in for $2 per trade.*
Now here’s the insane part - my account balance is only $2,295 so my usual exposure is around 10% if not more - I know money management dictates 2/3% exposure on any one trade…*
My aim here is to share my daily results with you in an attempt learn - with your help - the best way forward:
My results so far - I’ll also show the float, ie amount of trades left open that evening - it’ll give us a feel for how we recovered/turned out the following day:
11th June opening bal $2,295
11th +$203 *- great start almost 10% up * * * *float -$371 - scary since 15% of balance so may end up break even on day?
Cumulative +$203 *Bal $2,497 * * +8.7% (open bal $2,325 11th Jun)
12th +$26. * * float $0 - up on day and float back to $0, nicely done. Also means we banked yesterday’s profit.*
Cumulative +$229 *Bal $2,524 * * +9.8% (open bal $2,325 11th Jun)
13th -$173 unusually one of my traders opened up 2 at the same time, same currency which cost me $137!!! Fortunately other trades made +$90 which offset the loss a tad. * float -$136 no real worries here.
Cumulative +$56 *Bal $2,351 * * +2.4% (open bal $2,325 11th Jun)
14th +$265 a good day, helps resolve yesterday * Float -$288 which could wipe out our day’s profit.
Cumulative +$321 *Bal $2,616 * * +13.8% (open bal $2,325 11th Jun)
15th -$272 yesterday’s float came home to roost I’m afraid. * Float +$240 makes a great change to have a positive float which also cheers me against today’s loss.*
Cumulative +$49 *Bal $2,344 * * +2.1% (open bal $2,325 11th Jun)
Week 1 : very up and down - let’s hope next week is better.*
17th +$394 meaning Fridays float came in and then some! * Float -$42 nice
Cumulative +$443 *Bal $2,739 * * +19% (open bal $2,325 11th Jun)
18th +$121 nice to add to yesterday’s big win. *Float $0
Cumulative +$564 *Bal $2,860 * * +24% (open bal $2,325 11th Jun)
19th -$1 float -$22 happy to break even so important not to loose
Cumulative +$563 *Bal $2,859 * * +24% (open bal $2,325 11th Jun)
20th +$163 *float -$100 another good day weary of float though
Cumulative +$726 *Bal $3,021 * * +31% (open bal $2,325 11th Jun)
21st +$106, yesterday’s float came in at -$34. * Float -$242 not happy with large float
Cumulative +$832 *Bal $3,128 * * +36% (open bal $2,325 11th Jun)
22nd +$39 float -$246 least part buy and part sell eur/usd - not happy with large float over weekend
Cumulative +$871 *Bal $3,167 * * +37% (open bal $2,325 11th Jun)
Week 2: a lot better than week - although it’s tempting i do not play with or add to my signals trades. I’ve made my risk management settings.*
I review my trades simply by reading the statement which aaafx email me every morning.*
Lets see how we do next week.*
I have never really understood following other traders. When i first got into trading about 3-4 weeks ago i initially thought about following people however now i think why not learn myself how to trade and then i can trade whenever i want without waiting for John Doe to make a trade.
These threads are hilarious. Social trading doesn’t work. Move on and learn to trade yourself, there is no easy way out.
^ This .
I’m just going to keep updating on the daily performance - this is a Zulu thread so I suggest you move on?
You’re that dude that has his own Zulu signal right? Lol
… Hm no wonder.
I agree. To me, this side of things is really just a hobby, it is not something that one would want to pursue full time. Surely one would never want to be in a career where the ‘skill’ was in copying what someone else did and hoping that they were going to have a good day at the office?!?
I have nothing against Zulutrade etc, it’s a bit of fun, but let’s be serious for a moment - this isn’t even trading. It is copying someone who is trading. This is more like data inputting or something.
A programmer that I had worked with in developing our automated trading infrastructure with had experience working on Zulu’s early stages of development. He had stated over 90% of followers were unprofitable. He eventually felt guilty working there and quit. I don’t know what more to say. But if you do choose to take Zulu seriously, then go for it.
I am only a follower and I agree you should kindly move on. Social trading does work and is awsome:) There is nothing wrong with the system - lots of followers and SPs are winning on a continuous pattern.
For what it’s worth here’s my 2 pence worth…
First off - there’s no doubt that trading is difficult - with 2 very important aspects being choosing the entry point, and maybe more importantly actually managing the trade once in play.
If people wish to trade then I have every respect for them - in order to do so requires time and dedication in order to make a decent profit in the long term.
Right - now to my point… making money off Zulu as a follower is any thing but easy. And this is the real reason for this thread “Zulu followers beware” - prima facie being a Zulu follower is a guaranteed path to some easy money and for a time, a couple of months or so, this may be the case… but just look what happened with forex-cruise and co-fx, no 1 and 2 for several months on Zulu only to blow up everyone’s account with some -2000 pips a few weeks ago.
Basically Zulu is NOT to be followed with blind trust - certain choice and well thought out strategies need to be deployed to come up with 1. the right portfolio of traders (i.e. low DD within past 3 mths, have $m following them etc etc) and 2. Educated SL’s and a maximum $ lot allocation per each trader etc etc.
Now - getting the above strategy right is anything but easy - and is a moving feast. Ok it differs from actual trading but Im afraid that for anyone to state its a short cut is very much mistaken.
Horses for courses my friends - if you’ve got the time then trade otherwise take a crack at implementing the right Zulu strategy and tweek it once in a while in order to keep your portfolio on top form.
Good luck all,
Sean
And this is the reason why these threads are entertaining.
I’ll come back and ask how you’re doing in 3 months? But, the question is, will you still be here? 
glad I am entertaining you. why wouldn’t I be? I am already with the platform for quite some time. Sure you do that, im possitive i still be comenting on my performance 
Here is an update of this week’s performance (and cumulative todate)…
Before I begin I’d just to like add that I am making mistakes, i.e. that my strategy on Zulu is evolving as I learn and try to adapt from the mistakes that I’ve made…
My point is that the reason for this thread is to pass on what I’ve learnt so that you can avoid the same mistakes - it also keeps ClarkFX entertained and hell what’s wrong with that.
24th +$0 float -$300 float looks very discouraging long eur/usd 2x long trades going the wrong way
Cumulative +$842 *Bal $3,167 * * +37% (open bal $2,325 11th Jun)
25th -$93 float -$475 float’s getting worse - looks very discouraging long eur/usd 2x long trades going the wrong way
Cumulative +$749 *Bal $3,074 * * +32% (open bal $2,325 11th Jun)
26th -$637 float -$0 Float came home to roost !
Cumulative +$112 *Bal $2,436 * * +5% (open bal $2,325 11th Jun)
Ok - so this week so far hasn’t panned out so well… reason for the large loss was very similar (though not on the same scale) as what happened to fx-cruise and co-fx - i.e. the one trader averaged into a position with 5 trades, i.e. as the trade got worse they entered more trades in the same direction.
I had limited my exposure by only allowing 2 trades with a SL of 150 of each but that does not prevent 2 trades from hitting the 150 if the trader is going to average with 5 trades and just let them role, which they are still doing.
So - lesson 1. is to completely avoid traders that average into positions since there is no strategy to avoid their potential large losses. My other traders will put in stops well before they reach my 150 because they do not average.
Lesson 2. I’ve also reduced my lot size to 0.1 (1 pip = $1) so my exposure is not 15% of balance.
All traders are on:
- 0.1 lot size (1 pip = $1) with max 0.2 per trader
- SL of 150
The traders I’m using are:
yf68
yamatofx2vera
Yamato FX ver.A
TradeGuru
denganyouqianle
BigTen4EX
Will keep you posted on results going forward and further lessons learnt - clearly no guarantee Zulu will workout.
Sean
Sean - really appreciate your updates.
Can you tell us which trader was doing the averaging? Are they still in your list of traders you posted or did you remove them?
Hi Paul the trader was “for333” ranked 16th - look at their open positions now and you’ll see what I mean. I got hit for 2x 150 which is somewhat better than where they are now - but there is no way to manage guys who average so best avoided all together.
My current team are:
yf68
yamatofx2vera
Yamato FX ver.A
TradeGuru
denganyouqianle
BigTen4EX
Read more: 301 Moved Permanently
yamatofx2vera
Yamato FX ver.A
TradeGuru
denganyouqianle
BigTen4EX
Thanks,
Sean
Nice sellection.
Good luck trading! hope you have many good pips coming.
Here’s an update of my perforamce:
27th +$31 float -$34 Float – pleased with result
Cumulative +$143 Bal $2,467 +6.1% (open bal $2,325 11th Jun)
28th -$52 float -$28 Float – hard work, we’ll be here all day but least it’s steady – trying to set a format going forward – will stick with this for now and see what we learn along the way
Cumulative +$91 Bal $2,415 +3.9% (open bal $2,325 11th Jun)
29th +$93 float -$39 Float – better – let’s hope that float blows over or is better’d by profits early in the week
Cumulative +$184 Bal $2,508 +7.9% (open bal $2,325 11th Jun)
My current team are:
yf68
yamatofx2vera
Yamato FX ver.A
TradeGuru
denganyouqianle
BigTen4EX (recent addition)
My settings are:
- SL 150 (basic management)
- 0.1 std lots – i.e. 1 pip = $1 - at $2,400 std lots = 0.1 - will increase std lots to 0.11 once reach balance $2,600 (hopefully)
- Max open lots = 0.2 – i.e. no more than 2 trades per SP (stops averaging – although my SP should not be averaging anyhow)
Recent changes:
I dropped “for333” recently on the grounds of averaging – if you look at his recent history for333 did very well and his average 6 positios paid off handsomely – BUT please be aware that this is not the point – for333’s positions could just have easily gone the wrong way and then your facing the wipe out that ruined co-fx-24 and forex cruise.
Forex is about steady gains, not gains at any cost – otherwise it’s more like gambling and you will loose your capital.
Thank you - Sean
Thanks for the update Sean. Given some of the stories doing the rounds on Zulu, maybe it’s not all that bad [we hope]…Good luck!
hahaha, yup you are right…