ZuluTrade

[tar]

let's say in Jan the DD is 700pips; and in Feb he made 500pips; so the overall account DD is 200pips.

will he get paid for Feb?

The 700 pips drawdown limit is applicable to one trade drawdown not to group of trades or to the max drawdown , so the trade that goes beyond 700 pips will not get commission , and if the month performance is negative ( including unrealized losses ) u wil not get paid for that month , and if you have ridiculous huge drawdown u will not get paid commissions up to the time of that drawdown .

Note : unrealized losses at the end of the month will rollover to the next month , so if you didn't close them at the end of the month you will start the new month in negative !

 

[vergis92]

No no monthly PnL has to be positive with loss per trade no more than 700pips.

If FCC stays long GBP/USD he will recover soon, as there's a strong possibility EUR/USD will correct strongly to the upside, most followers are under financed and over stretched following too many providers, that's why they got margin calls.

I notice that even though I did warn my few followers them about having at least
$2500, and to be ready for up to 30% DD , ($750), they just don't get it.

Even followers accounts with $7,000 - $15,000 are so over stretched over many providers, that some of my trades get rejected due to them not having enough margin.

In other words, they want all the profits served on a silver platter without incurring any stress, any feeling of risk..... typical human behavior. and most of them implement a very poor capital allocation over the providers, a follower should either follow a provider 100% of the time or not follow at all.

Also, trading size should change slowly, if you change your trading size up and down a lot following your mood and your feelings you completely remove MM.


In a trading test conducted , they tested 2 traders following identical entry and exit points, one of the traders implemented some fixed % of his capital as his maximum risk, the other changed trading size based on emotions, he would cut down severely after a big loss, and increase much more after a profit.

In the end, the trader who implemented the fixed %, made 20 times more money
than the emotional trader.

 

[Dominator4fx]

In the end, the trader who implemented the fixed %, made 20 times more money
than the emotional trader.

Emotions play a havoc for any trader be it the start of his trading career or the fact that he is already an established trader.

We have to learn on how well to be able to control the Emotions.

 

[Lord Flasheart]

I have to say that the way FCC conducted his trades really makes me wonder. He simply averaged in and has now decided to leave them until it comes good.How can that be trading when his main method is to trade the quiet asian session. clearly his methods work most of the time,as any method lke that would,but to have a dd of 1300 with 5 open positions is not trading

 

[robbert]

Lord Flasheart,

how did you think he should've trade better?.....

 

[robbert]

In other words, they want all the profits served on a silver platter without incurring any stress, any feeling of risk..... typical human behavior. and most of them implement a very poor capital allocation over the providers, a follower should either follow a provider 100% of the time or not follow at all.

Followers (like us) trust their SPs with our money and the SPs receive commission extra to their trading for that. Its a win-win situation as both sides are equally compensated. Of course we want profits and of course we get angry for accured losses. The stress and risk feeling is absorbed by the commission you recieve for me following you. I see no reason why this should be a negative human behaviour.

 

[The Artist]

Hello all,

I have a question for you signal followers on ZT (or others): considering 2 providers with similar RoI, what do you look for in a provider that would differentiate him positively compared to the other? In other words, what do you consider as a definite no-no even if a provider has a seemingly better absolute performance?

Thanks!

 

[Lord Flasheart]

Lord Flasheart,

how did you think he should've trade better?.....

Robert, he wasnt trading as soon as things went wrong,he should take a loss and re enter if he so wishes with stops in place. Trading with no stops after targeting 10 pips a day is just chasing and averaging

 

[hellrise]

I agree wtih Lord , Fcc wasnt trading after the drawdown , i dont know what happened to him , probably stress or sth , eventually he will recover though , he is not a bad trader.

 

[Lord Flasheart]

im not sure he will recover,what if gbp falls another 100,i guess if you beleive he will recover then nows a great time to get in

 

[robbert]

Hello all,

I have a question for you signal followers on ZT (or others): considering 2 providers with similar RoI, what do you look for in a provider that would differentiate him positively compared to the other? In other words, what do you consider as a definite no-no even if a provider has a seemingly better absolute performance?

Thanks!

definite no-no could be negative dd, open position and how much are these positions open for. other than that I take into consideration time with the system and overall monthly PnL performance. And the ranking algorithm that takes all of the above of course.

 

[robbert]

Robert, he wasnt trading as soon as things went wrong,he should take a loss and re enter if he so wishes with stops in place. Trading with no stops after targeting 10 pips a day is just chasing and averaging

you have a point....actually i was also astounished to see no s/l but i trusted his manual intervention as he usu does that.

 

[hellrise]

Hello all,

I have a question for you signal followers on ZT (or others): considering 2 providers with similar RoI, what do you look for in a provider that would differentiate him positively compared to the other? In other words, what do you consider as a definite no-no even if a provider has a seemingly better absolute performance?

Thanks!

A definite no-no for me is a huge max drawdown and a very big average trade time. Also the 100% winning trades.

 

[The Artist]

Thank you robbert and hellrise for your response. Your selection criteria seem to make sense.
Obviously you must be a minority when I see providers like "TradeGuru" with the 3rd largest following yet relatively scary stats: 12hrs trade duration average for 25pips? 100% Max DD!
That ZT's performance algorithm would rank it 3rd is fairly misleading and I could have picked many others from the "top 20". Hope you guys won't get wiped out by one of those gamblers.

 

[robbert]

I am actually a follower, so ranking concerns me only as an indicator who to follow and how. Trading guru is not quite bad - new system (only 19th weeks) but already manages 5.4M $ accounts, where as the number one has 2.46$ following him for 54 weeks... these are not major point while choosing. His stats are really really good - 87% winning trades; max dd 565 pips, max dd/ trade not evn 300 pips; no need to say that he has no previous bomb accounts under him...well ....

looks at his trades - all positive and he trades only EUR/USD....imo, he deserves the ranking.
anyhow, you can always choose some other trader, it is not required to follow the ranking.

 

[rolex]

I'm looking to start with zulutrade soon , are you guys happy with the performance results there? What tips would you give to a begginer?

 

[Club]

Don't waste real money until you have followed a trader for a LONG time... lots of them hold onto individual trades through massive drawdowns, one could blow you up.

 

[robbert]

I'm looking to start with zulutrade soon , are you guys happy with the performance results there? What tips would you give to a begginer?

yes indeed from my side i can tell you that i am quite satisfied.
I think the best tip i can give you is prior to opening an live account - open a demo and see how it works - get used to the system, the providers, try to find the best lots and trade allocation and then use these setting in your live account.
NB: keep in mind demos do not represent real-time slippage, but this can be averaged investigating with backtesting the providers you wish to follow.

 

[robbert]

Don't waste real money until you have followed a trader for a LONG time... lots of them hold onto individual trades through massive drawdowns, one could blow you up.

this used to be the case but lately they try to limit this - unless the market really really is against them - they they hold open positions. Of course SPs are so many and so are their strategies.
The major thing that stoppes them though - should they have bigger dd/trade > 700pips and/or negative monthly PnL - its bye bye monthly commssions for them... :cheesy:

 

[Lord Flasheart]

I opened a demo at the start of this month and am up nearly 1000 pips and that includes FCC as one of my providers. Sounds good read the next line

However I am down nearly $2000 on a $10,000 account. This is because one of the traders has traded gold and the values are completely different,he has made most of the pips himself. I am disappointing because a lot of the traders I followed kept adding into big losing positions.I would have been nearly 4000 down if it was not for that gold chappie.