FxMarkets alone would have given better results

I currently have max trades set to one, but have three providers to choose from; FxMarkets, Scalpers Group and GBP$. I therefore dont get all the first trades of any, since I might be in a trade whilst the other is placing a new one.

Last week I posted about my next step; to change max trades to 2 but to remove all but one GBPJPY trader and add for example Aradi forex.

I therfore began to analyze which provider I should keep. Currently I have three; FxMarkets, Scalpers Group and GBP$. I therefore manually calculated which trades since 01.01.09 I would have caught if I had used only one provider. As I anticipated, GBP$ lost with only 256 pips, second came Scalpers group with 491 and the winner was FxMarkets with 837 pips.

What suprised me is that with my combination of three providers I only made 755 pips (besides the unfair loosing trade), which means I would have been better off having chosen only FxMarkets. I thought perhaps since I had my loosing trade open almost a week it dragged my pips down; I thereore looked again with trades only since 13.01.09 and the reults are as follows; GBP$ 75 pips, Scalpers group 354 pips, FxMarkets 662 pips and myself I made 644 pips.

I must keep an eye on this, but it might be worth scrapping my three providers and keeping only FxMarkets. and certainly if I want to add another (non GBPJPY) provider and change settings to 2 trades.

But who should I choose? GuruFx is already Characterized as risky and the DD of Aradi forex has grown to over 380 pips on a trade, besides he has now 316 pips DD but I didnt check to see if it is one or more trades.

Add Signal Provider Aradi forex? GuruFx?

I am currently in search of reliable signal providers which trade something other then the GBPJPY. Most of the top providers trade the GBPJPY, and I would like to have a dicverse portfolio to reduce my risk.

I have a desire to already change maximum open lots to two but with two GBPJPY trades I could potentialy be blown away with just over $1000 equity. If I were to add a non GBPJPY provider I would have to deactivate tow out of my current three GBPJPY trades; FxMarkets, Scalpers group or GBP$. which one? Or should I still leave it at maximum one open lot? Your thoughts are welcome.

I have an eye on Aradi forex as my non GBPJPY provider. The only problem is he is fairly new, been trading for just 4 weeks with 123 trades, but his records show minimum DD, less the 500 pips, and his three loosing trades are acceptable losses; 20-30 pips.

GuruFx, trades only EURUSD, is even younger, has also smaller trades averaging only 19 pips but are shorter on avergae, only 2.2 hours, then Aradi forex. Browsing through his trades I cant see any loosers but zulutrade gives him 38 out of 39 winners, dont know why.

How long should I give them till I use them?

Providers to keep an eye on

Many traders havn't traded for some time, a shame it is not mentioned on the provider list the date of their last trade.

Drawdown Free:
too new but looks promising. trades the GBPJPY, very small DD, only 47 pips DD, average trade time 1.5 hours. 3 weeks 10 trades average 35.1 pips

HomerPoet:
too new but looks promising. trades the EURUSD, small tardes but many, in 2 weeks has 40 trades averaging 31.1 pips (a couple of huge trades pulled up the average, real averageis probably below 20 pips). average trade time 1.5 hours. in notes, trader writes: circa 100 pips every day

New signal Providers

I have added another two providers, but have still kept Maximum open lost at 2.

The two new ones are again meeting my criteria of DD per tarde below 500 pips, 100% succesful rate over 2 months. The two are GBP$ and Club4x.

I could miss a trade from FxMarkets because of these new providers but since it hasn't traded until now, 22.12.08, perhaps he wont be trading until next year. so lets try it and we will see after the first time we miss a trde if it is worth it.

signal providers

I got an email from zulu taht my account is live and I can begin trading. I chose two signal providers with 100% succes rate so far, FxMarkets and Scalpers Group. both for 1 lot each and only 1 trade live. according to their history neither have had a drawdown of more then 500 Pips so like this i should be ok.