ZuluTrade

[Lord Flasheart]

Id look for at least 12 weeks trading
120 trades min
dd relevant to positions and size(about 100 pips per lot used)
amount of positions used divided by pips and weeks(should be at least 15 pips per week per lot) If they use 10 lots,then 150 pips per week should be achieved
winning trades bigger than losers as a minor point

 

[Lord Flasheart]

Have opened my demo for this month,have you guys. most of my last months selections lost heavily and I studied hard to pick them.This month Ive just applied my basic rules

 

[robbert]

last month was bad in general, i remember times in April that fcc gave me some really good profit.
My first demo was a disaster, my second one as well (but less) and afterthat i managed to make profit, so i guess is think less and act fast as what your gut tells you.

 

[alphadude]

my demo last month (started mid May); is in the negative territory. so far -200 pips on closed positions; and -1200 on open positions. see attached my settings.

horrible experience..

will start new demo account today

 

[Lord Flasheart]

my demo last month (started mid May); is in the negative territory. so far -200 pips on closed positions; and -1200 on open positions. see attached my settings.

horrible experience..

will start new demo account today

you did what I did,leave it on auto,needs to be set on manual at 1 lot on each to get a better idea,ive got about 10 providers

 

[alphadude]

have you guys tried swiss10? he got 100% winning trades.

kudos to Zulu though for showing the drawdown alert.

 

[alphadude]

you did what I did,leave it on auto,needs to be set on manual at 1 lot on each to get a better idea,ive got about 10 providers

do you keep the max open positions as is?

 

[Lord Flasheart]

do you keep the max open positions as is?

on etoro they all have 98% and never close losing trades. Yes left setting as with.1 lot on each,if your following a guy you have to follow as he lays out but have adjusted lot size so as to get balanced pip count

 

[alphadude]

am following 11 providers; and all set to 0.1 lots; as my account is only $10,000; and to avoid margin calls.

my strategy of selection is top providers with < 15% drawdown

 

[Lord Flasheart]

heres mine
15%,lol within two weeks 1/2 of them will have gone over that amount,i guess it depends what 15% dd is,has to be relative to their pip game

 

[hellrise]

martingale is to double your risk after every loss , for example : you risk 1% then if u lose you risk 2% to make up for the previous loss , and if you lose again you risk 4% and so on , dangerous , works only if you have an infinite amount of money :cheesy: . Now back to most zulutrade traders they are not using martingale per se but they are doing something similar : averaging down until they get out of their positions in profit , example : buy cable 1.6 it goes down buy again 1.59 and so on until they get a correction which gives them some profit , ofcourse at some point you will get a trend and you will blow your account ...

Thx tar , now i finally understand what is this martingale and why many zulu users are against it!

 

[Lord Flasheart]

look at no 43 forex1,been going over a year at 100% and has 466k following him,he has a dd of 33% thats 18000 pips,some people like that sort of thing,i really dont fancy joining to lose 18k in pips

 

[alphadude]

martingale is to double your risk after every loss , for example : you risk 1% then if u lose you risk 2% to make up for the previous loss , and if you lose again you risk 4% and so on , dangerous , works only if you have an infinite amount of money :cheesy: . Now back to most zulutrade traders they are not using martingale per se but they are doing something similar : averaging down until they get out of their positions in profit , example : buy cable 1.6 it goes down buy again 1.59 and so on until they get a correction which gives them some profit , ofcourse at some point you will get a trend and you will blow your account ...

tar, the martingale strategy used in FOREX is not exactly the same as doubling down; but rather averaging in. The name "martingale" is rather used loosely here; because the basic idea is to hang on to losers.

search ForexFactory or Oanda forums for martingale; you will get more in depth discussions there.

here is the strategy in its simplest form:
- use small position size; i.e. 0.1
- max open positions is set to a high number; i.e. 10 or 20 or even 30
- no SL is used
- TP is used; usually around a small number; i.e. 10 pips
- losing positions will be left open for months
- strategy will use hedging; meaning having both long and short postions at the same time. lol; they like to give it a decent name of "hedging losses" but really it is haning on to losers.
- entry rule is based on random 50/50 coin flip.
- to increase the odds; some use a moving average crossover for entry; instead of random coin flip.
- exit rule is what matters in this strategy. basically taking a small fixed profit.
- The exit rule explains why the equity curves for this strategy is amlost 45% angle; until you see a cliff.

I have tested this strategy myself; and random coin flip worked as well as a moving average cross over; or any other method.

in principle this strategy works in range bound markets; but the moment you have a trend; you blow out.

to find out if a strategy is a martingale; look for the following:
- equity curve is 45 degree slope with sharp clifs
- some open positions are left for months
- hedging is used (long and short positions in the same symbol)

 

[justtrader]

on etoro they all have 98% and never close losing trades. Yes left setting as with.1 lot on each,if your following a guy you have to follow as he lays out but have adjusted lot size so as to get balanced pip count

Flashheart,
Surely you should be setting up as a signal provider instead of following them?

 

[robbert]

tar, the martingale strategy used in FOREX is not exactly the same as doubling down; but rather averaging in. The name "martingale" is rather used loosely here; because the basic idea is to hang on to losers.

search ForexFactory or Oanda forums for martingale; you will get more in depth discussions there.

here is the strategy in its simplest form:
- use small position size; i.e. 0.1
- max open positions is set to a high number; i.e. 10 or 20 or even 30
- no SL is used
- TP is used; usually around a small number; i.e. 10 pips
- losing positions will be left open for months
- strategy will use hedging; meaning having both long and short postions at the same time. lol; they like to give it a decent name of "hedging losses" but really it is haning on to losers.
- entry rule is based on random 50/50 coin flip.
- to increase the odds; some use a moving average crossover for entry; instead of random coin flip.
- exit rule is what matters in this strategy. basically taking a small fixed profit.
- The exit rule explains why the equity curves for this strategy is amlost 45% angle; until you see a cliff.

I have tested this strategy myself; and random coin flip worked as well as a moving average cross over; or any other method.

in principle this strategy works in range bound markets; but the moment you have a trend; you blow out.

to find out if a strategy is a martingale; look for the following:
- equity curve is 45 degree slope with sharp clifs
- some open positions are left for months
- hedging is used (long and short positions in the same symbol)

thank you, thank you thank you....seriously this is one of the best explanations, I've ever read!!
So its all nice and upwards untill the trend comes along and then? what can be done in a trend market situation....:|

 

[tar]

tar, the martingale strategy used in FOREX is not exactly the same as doubling down; but rather averaging in. The name "martingale" is rather used loosely here; because the basic idea is to hang on to losers.

yes i know , that's exactly what i said ...

 

[tar]

zulutrade : "we do not have any punishment on signal providers who has 50% winning percentage."

 

[Lord Flasheart]

zulutrade : "we do not have any punishment on signal providers who has 50% winning percentage."

ok,maybe i misunderstood, i was told that its not a punishment as such but the difference between having say a 61% and 59% is a lot less than 51 and 49%,as I said sometimes its hard to het an exact answer and much can be lost in conversation
thanks for asking

 

[robbert]

zulutrade : "we do not have any punishment on signal providers who has 50% winning percentage."

As far as I know it's the 100% winning ratio that can get problematic...why do you have a problem with 50%?

 

[tar]

As far as I know it's the 100% winning ratio that can get problematic...why do you have a problem with 50%?

I don't have a problem with 50% win rate , the win rate is meaningless anyway ...