Cornix
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I am sure cornixforex will succeedhe seems knowlegeable enough, and risk averse, so with little good trading followers will be sticking to him. i really wish more of the SPs on zulu had that profile - carring and for the followers not only the commissions received !!!
Thank you, Robbert. My goal is indeed provide moderate consistent return for the followers, just like I trade for myself for a few years already.
Expanding to manage OPM seems like an obvious career development for me and an interesting new challenge, that's the main reason: do something more in this business than so far achieved through providing quality service to people.
As for commissions, I'm only going to take the very best signals for Zulutrade account, to provide as smooth equity curve as possible (while I play more aggressive on my own at times
). It's about the belief that grabbing as much money "in the now" is far less optimal than providing quality service, which people would like and eventually make you better long-term profit.
Lord Flasheart
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Lord Flasheart
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Very nice to see my pet crow there on the bottom of the list! Thanks for testing me.
Stuuf the crow,ill be watching like a hawk
Stuuf the crow,ill be watching like a hawk
we all are going to do that actually
Lord Flasheart
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I think you got yourself a very good sellection btw
hopefully,theres some new chap in there that Im depending on
Lord Flasheart
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Had my demo account for 24 hrs and lost 6% already
Cornix
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Lord Flasheart
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no your in the lead
,it was khalfx who said hed take no more than 5 positions and has taken 6. He is also now into his biggest drawdown since he started,also system hour signal,similar thing. also noticed that none of them have stops. Why do so many follow this sort of thing,there just guiessing
Cornix
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no your in the lead
That's successful business model for many providers: they get like 80-90% win rate and with some luck quickly make significant profits. Noobs who don't understand what trading business in general and risk management in particular is love this kind of performance... and are happy to bring their money. Which is fine as long as one knows risks associated and only dedicates small portions of capital to each of such systems and picks few which are as uncorrelated as possible (historical comparative performance can be used effectively for correlation analysis).
Sooner or later most averaging down systems fail epically, especially in a strong trend like we had last week (my swing trading system which is not released publicly yet has made about 300 pips last week by the way
).I bet those providers you suffered from were long the dollar in a reckless manner.... and SPX really looked bearish, until it didn't anymore... Good trader MUST consider that ANYTHING can happen... that's why stops (at least mental if one is afraid to expose hard stops) are for... But that's good trader...
P. S. Sorry if I sounded like bashing many signal providers, I am not, averaging down in a controlled fashion can be a powerful tool, but have to say the situation as I really see it.
Lord Flasheart
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That's successful business model for many providers: they get like 80-90% win rate and with some luck quickly make significant profits. Noobs who don't understand what trading business in general and risk management in particular is love this kind of performance... and are happy to bring their money. Which is fine as long as one knows risks associated and only dedicates small portions of capital to each of such systems and picks few which are as uncorrelated as possible (historical comparative performance can be used effectively for correlation analysis).
Sooner or later most averaging down systems fail epically, especially in a strong trend like we had last week (my swing trading system which is not released publicly yet has made about 300 pips last week by the way
I bet those providers you suffered from were long the dollar in a reckless manner.... and SPX really looked bearish, until it didn't anymore... Good trader MUST consider that ANYTHING can happen... that's why stops (at least mental if one is afraid to expose hard stops) are for... But that's good trader...
P. S. Sorry if I sounded like bashing many signal providers, I am not, averaging down in a controlled fashion can be a powerful tool, but have to say the situation as I really see it.
I picked them because they didnt look like the averaging systems and their drawdown was good. I take them and they fall to pieces
Cornix
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Not my business, but if I picked signal providers to follow I would prefer those with lower win rate and good risk/reward. My own system is not ideal in this matter, because I am a scalper by nature and average winner is just slightly larger for me than average loser (though try to hold winners for more, when see the potential).
Reasoning is that if some signal provider has say 40-50% win rate, average winner 3x the average loser and trades this way successfully for some time (at least a few dozens of trades), chances are high she/he uses solid trading method with sane risk management etc.
Such approach is usually much safer than all sorts of strategies which lack the basic rule of nearly all successful traders: cut your losses short and let the winners run. And that rule is the rule for a reason...
:cheesy:
be-positive
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Lord Flasheart
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thats the point,thats how I picked most of them. Most of the ones with 40% win rate and winners bigger than losers are behind,which is why trading is so hard and zulu followers go for win %
