Just WTF are you doing?! That’s what I have to say to ZuluTrade providers who pile on positions against the trend. Two of what I considered my favorite signal providers have gone “loco” and decided that it would be cool to try to short the EUR/USD (and others) in spite of a CLEAR bullish trend on multiple time frames. I understand that they may have wanted to “short tops” but why in the hell would you double down as you see the market slide against you and open more and more positions?! This is the sign of desperation. One provider broke their promise to not open more than 4 positions at once – they inflated the number of positions to 10! Way the go! Not!
These two signal providers that I’m talking about (which are now disabled – perhaps temporarily perhaps permanently) are: “good good system” and “Qurenix”
So what did I do beside disable them, well, I also closed all their open positions. No thanks, I am not going to hold on to their drawdown. I know they most likely do not give a crap because (some of them) it’s not their money, right?
I’ve been manually trading in the same zulutrade account and I managed to lock in 9158 pips so far. Why couldn’t they be on the same side of the trend like me? I mean what the heck, they’re supposed to be professional and me the “amateur” no?
Anyways, I’m venting here. I will calm down in a bit.
For now the only signal provider that I have active is “FxTurtle” To this signal provider I’d like to say “kudos” for not doubling down and for sticking with the trading plan. He’s also got in on the EUR/JPY trend which I like. I locked his positions and I will manage them from here on. So far I’m up 134 pips with these two positions. Thanks!
Alan i was nervous with Qurinex as well , but in the end he managed to close most of his positions in plus because EUR eventually fell a little bit. I’m sorry that you closed all the positions in red yourself , but they turned out green for those of us who stayed in the end.
Hmm *sigh* yeah I chickened out. Ohwell. My long gbp/jpy and eur/jpy will make up for the losses. I re-enabled Qurenix. I think I jumped the gun on this one. But honestly I’m not yet convinced that the eur/usd has no upside potential so I was worried that he’d let the trades ride all the way to 1.3200 which was his SL. With 10 lots that’s a fair bit of change lost.
I think you should give good good system another chance…io have a feeling its trading will turn around 😉
I might, but only after he has gotten rid of the current floating loses and only after the new year. I feel that most of these signal providers should NOT be trading during December – too much volatility for their technical analysis entry methods too handle. They get false signals.
Update: I re-enabled Qurenix. He’s up to his recent shorting eur/usd tricks, but so far no crazy number of positions have been opened, which is good.
so admin,
i shall be looking more into traders trading on fundamentals for December, correct?
Well the thing is that most signal providers don’t tell you about their strategy in that much detail..I think the majority of signal providers on zulutrade are chartists – ie they use only technical analysis.
For December I think it would be just better to not trade at all – ie put your signal providers on hold.
oooh, admin you are going on the save side then….i also have the same feeling more of a 50-50 chance to go well.
you have a point, most of the traders are chartists ot technicians (as i call them) but there are some that are fundamentalits – or in general both categories are traders wanna be more or less, regaldless those that know i’ve seen when they oopen trades, there is an indicator in their history, so even if it doenst say, well is knows that they are of that kind.
Btw, ive read somewhere that Jason Alan Jankovsky might be a signal provider on zulutrade ..is that true??
Apparently it looks like it’s true according to one post I found on the Forex Factory forum. However I can’t for the life of me find out what his zulutrade username is. I tried searching for signal providers with the keyword “Lion” in their name but there are quite a few and I can’t tell which one is Jason’s – if any.
hahaha…ok update..I guess that wasn’t so hard..I searched for his name and found him. Here is the link:
http://forexnirvana.zulutrade.com/trader/131112
admin,
thank you! for the link and for the trouble to look for it.
Seems, that you tried to look for it with a decoded name and it turned out that he actually used his own, which btw i am a bit sceptical about……maybe is a scam (another smart provider trying to use this guys real name) or is Jason really trading himself….
Yep that’s exactly what I did at first, thinking that he’d use some sort of alias or nickname. It could be someone trying to take advantage of his name recognition to get zulutrade followers. Either way I’m testing him out. Do you think that zulutrade is below or “not good enough” for Jason?