This morning I received the first reply from zulutrade telling me I should close the trade manuall and they will investigate. By the time I logged into my accout the trade was closed. Below is my reply to zulutrade. I also changed my settings to allow only one live trade at a time since my equity is something around 700 USD.
Hello,
I have just logged into my account and have seen that the trade has been stopped out by the SL.
Rasa has told me on chat that I should request a refund since as far as I can see it was a technical problem on zulutrades part why this trade was not closed together with the providers. The providers ticket is 11.6336628640324.
Needless to say I didnt change anything with the trade, SL and TP as I didnt even log onto my account and didnt know about the trade until the weekend. In the end the trade was stopped out by the original SL from provider. I lost in USD -526.47 including -2.40 for rollover. This is besides all the trades I could not trade during the seven days this trade was left open.
I sent my first mail on Sunday and am really upset it took two days to receive a reply on such an issue involving a live trade. Thank you for your feedback.
kind regards
xxxOn Tue, Jan 6, 2009 at 8:51 AM, <support@zulutrade.com> wrote:
Dear Sir,
The trade it appears still open and therefore we advise you to close it manually the soonest possible,in order to minimize your losses.
The case has been investigated by our technical departement. Please contact with us by e-mail/chat for any more questions/remarks. Kind
regards
Posts
Ouch! Thanks for posting this! That hurts... Hope you'll get a refund since its not your fault. I hope those technical issues will be resolved soon and not happen again in the future... The whole credibility of Zulutrade may suffer.
ReplyDeleteAnother topic, the whole market seems to take a retracement (probably temporary). FxMarkets looked to sell retracement since October. He made approx 16000 pips since then, but now he has for more than 8000 pips in floating losses all opened since the beginning of the week...
Thanks Scott for your support!
ReplyDeleteYour right about the retracement, FxMarkets has over 20 trades open, lowest entry at 134.21. I am in an open trade with ScalperGroup at 135.61. Very scary.. I see now 500 pips per trade is not very safe...
I began trading actively on zulu back in October, and by January I had accrued $4900+ in profit on top of my original $2000 investment. I withdrew my original investment before Christmas, thankfully, because I lost almost my entire account within three days in January by over-leveraging FxMarkets, Scalpers Group, and NeverLose$. Totally my fault for not taking adequate measures for risk; I assumed that a 650 pip margin was safe enough; it had worked perfectly until that week. Now I'm wondering how I should calculate my margin for next time. Should I try 1200 and hope for the best?
ReplyDeleteHi Chris,
ReplyDeleteI am sorry for your loss, but at least your deposit is still there. I am no expert to advise and I had planned on 500 pip margin and now am thinking of 750 pip margin since the latest DD of over 700 pips. But you are probably right that something more like 1000-1200 pips is safer but who knows until when.
What I can suggest is using part of your margin for providers not trading the GBPJPY so hopefully they wont be in a DD during the same period the others are, and you could "borrow" their margin if needed.
and thank you for popping into my blog