01 Feb, prior to that I had a number of different providers trading different strategies...until several of them decided to hope for a swiss intervention and put a 3000 pip floating drawdown into my account. As I was skirting a magin call, I took the hit, dropped the numerous providers and have since just gone with one.
Trust the margin calculator on Zulutrade, and be careful with multiple providers...if they had all stuck to their strategies I would have been fine, but soon after christmas I started getting email after email saying 'This signal provider has changed their method..' emails but by then it was to late.
The history prior to 01 Feb is on myfxbook as well, just move my custom start date to the left and you'll see the pretty nice crash. A lesson in what not to do ;)
Well if I'm not mistaken the signal provider is simply using the Forex Cruise Control EA. I have no idea whether or not he has special setting or even if there is such a thing for this EA. He does seem to have hit on something. I've been studying it heavily for the past few days and seems to me that some of his losses could be avoided with a little manual intervention using simple moving averages and indicators. However, you cannot argue with success.
I thought that perhaps you had switched to him solely in early Feb. I'm thinking of opening a small account and giving this a try. Gutsy move in taking your medicine and making the smart play.
During the last week there was a period where the EA took a couple of positions that ended up in a drawdown, the signal provider intervened by doing some manual trading and selective closing of orders to llimit the hit and end the week in profit.
I've studied his chart and it appears that in the last year there have been 3 times when he was hit with significant pip drawdown in the account. Each time his number of open trades goes up as he recovers and manages that DD to ultimately end up in a profit. I've set my risk so that should he take one of those drawdowns the account will be down about 30%, banking that i'll have enough equity left to let him trade back to profit. I guess i'll see how it all pans out over the upcoming months.
I've also gone and added another signal provider to the account on a trial basis, but I'm respecting the margin call percentage on Zulutrade...must respect percentage, especially while using multiple providers(aka my lesson learned...)
let me guess who you added.....triple x? I've been looking at this one. If you don't mind me asking... again... to you use the auto or manual risk and if so what you set it at? No offense if you'd rather not.
Not triple X, decided to give Forexmasters777 a try and of course as soon as I did so he went and violated his own rules and lost half of his overall gains in one series of bad trades. Part of the reason why i'm really starting to dislike real life human traders. Fortunately I only set him at 0.01 lots so i'm down about a hundred bucks from his showing.
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