This post is about how to get started trading forex using the different system providers at Zulutrade.
I hope you find this post beneficial to you as it has taken many months of time and energy from me to find the best system providers. My first recommendation on how to get started is to sign up for their free demo by clicking here at Zulutrade.
Whether you are new to forex or not, it is very important that you get familiar using their website and settings. It's better to get familiar now using demo funds before going live and possibly losing your hard earned capital. Why not put in a little time now to learn how their back office works so it will save you time, money and grief later?
The most important thing to learn about trading using Zulutrade is knowing how to modify your portfolio using their settings tab. In the settings tab is everything that you will need to 1) modify the amount of lots or mini-lots to trade per system provider, 2) how to modify the amount of max trades per system provider, 3) how to modify the amount of max trades per currency per system provider, 3) how to add your max stop loss per system provider and last but not least 4) how to even restrict certain pairs from even trading.
I opened a live account in July 2009 after 3 months of demo trading. Below are my results from live trading the following systems using FXCM UK as the broker and using 1 mini-lot per trade.
July 2009 Live Results - $1,126.07 or 22.5%
Beyond Parity = 30 pips or $32.86
Big Win = 242 pips or $258.29
Hidalgo = 229 pips or $228.37 (Max pairs = 2 Max pairs per currency = 1)
LowestDD = 569 pips or $573.42 (Max pairs = 2 Max pairs per currency = 1)
OnlySunnyDays = 31 pips or $33.13
July return of $1,126.07 or 22.5% return for the month
August 2009 Live Results - $504.85 or 10.1%
Beyond Parity = 53 pips or $51.50
Big Win = -122 pips or -$129.57
Creative Trading = -100 pips or -$112.34 (Max pairs = 2 Max pairs per currency = 1)
Hidalgo = 434 pips or $429.83 (Max pairs = 2 Max pairs per currency = 1)
LowestDD = 262 pips or $258.09 (Max pairs = 2 Max pairs per currency = 2)
OnlySunnyDays = no pips (I may remove them due to non trading)
PipsVitamin = 8 pips or $7.34 (Max pairs = 2 Max pairs per currency = 1)
( I just started trading the PipsVitiman system on 8/31/2009)
August return of $504.85 or 10.1% return for the month
I removed the Big Win system from my portfolio on September 3 because I had a -$264.00 loss in one trade thereby wiping out all the profits it made in July. I figure if a system can't out produce enough positive pips to overcome a 250 stop loss in one month then it may not be good enough or productive enough. Also I went to their performance history and noticed that this system had a 900 pip stop loss hit. That is even more reason for me to not feel comfortable trading using their system. However I will continue to monitor their system.
I am testing the following systems in a demo and will keep you posted of their results:
Hunter
Rascave
Surfing
And I have tested the following systems in the past and decided to not use them in my live since they had either had too much draw down for my tolerance or had produced poorly:
Active Trader FX
Dagger
Fx Fila Pea
FxSecurityProfits
GeppyScalper
Nexus
Oxygen 4
Oxygen G2
ProB-5
Since my initial investment was only $5,000, I was very careful to not over leverage or have too many systems running at the same time. This is why I only trade around 5 systems that produce consistently over time even including the minor losses that they may incur from time to time. In other words, I am looking for systems with a good risk to reward ratio. As you will notice, you don't need a 100 systems to make you money. I only trade around 5 systems at any given time with strict money management and settings per provider.
Well that's all for now. If you have any questions about any of these systems or any other general questions, feel free to contact me at mike@ZulutradeResults.com
Remember you can sign up for a free demo or live account by clicking here at: Zulutrade.
Till next month. Happy trading!
Mike Torres
Miami, FL
mike@ZulutradeResults.com
P.S. For you new forex traders who want to take forex trading seriously, it may be very beneficial for you to do the following: 1) Attend a currency trading school 2) go to as many seminars as you can on forex trading 3) read as many books and websites that you possibly can so that you can learn all there is such as how platforms work, how leverage works, how to draw support and resistance lines, how to recognize patterns etc. etc.
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