Total balance 160 pips: another couple of Live trades

On the 22nd and 23rd, Scalpers group and GBP$ made two trades each. Again, I missed plenty trades having my max live trades per provider set at 1.

And here the weekly preformance email from zulutrade

Dear xxx,
Your Zulutrade™ account xxx is 160 pips UP this week (12/19/2008 - 12/26/2008). Congratulations!Profit in USD: $173.32 (includes open positions)

With five closed traders I am now up 160 pips up, 173.32 USD. I assume there will be no more trades until after New year, so I consider these Pips a bonus and next year we will start trading seriously!

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.

Max 2 live trades

After my first trade I saw that I missed almost ten trades from the provider since I had chosen 1 as Max open trades per provider. These later trades were closed faster and with more pips then the live one I was in.

I have to control my greed and keep to maximum 2 open lots to allow almost 500 DD per trade. With an account of 1000 USD adding more then 1 per provider is not an issue yet, but when the account does grow and can allow more trades it can be more then double the pips.

I could put 2 for max open trades with the provider but would rather not take the risk with one provider. Secondly, the second trade was taken a minute after my first trade and also closed with only 14 pips so I still wouldn't have got the 50+ pips trades. I could have missed a trade with my second provider FxMarkets, but it hasn't traded as of now.

Patience is the keyword.

Total balance 14 pips: first Live Trade

Yes, it happened within the first few hours of going live. It was triggered by the provider Scalpers Group on 18.12.08, went into a low of 142 pips and eventualy a high of 50 pips and closed at 14 pips. and here the end of week email from zulutrade:

Dear xxx,
Your Zulutrade™ account xxx is 14 pips UP this week (12/12/2008 - 12/19/2008). Congratulations!Profit in USD: $16.08 (includes open positions)

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.

Broker FXCM

I chose FXCM as my broker, of course using zulutrade as my refering broker

$1'000 Payment

I made this morning my payment of 1'000 USD via credit card to the broker, FXCM

Demo trading

I have been demo trading on zulutrade with a couple of accounts and signal providers. I have been succesful, I only have to wait to see if the live results are the same as with the demo!
The demo accounts are 50'000 USD trading with standard lots. Since I have in plan to open a real account with only 1'000 USD using mini lots, I chose 5 lots per trade for each account to be able to demo using the same drawdowns I will encounter trading live.

Mission

I am about to start trading live Forex market with zulutrade.

I decided to post everything related to the trading on a blog for two reasons:

Firstly I would like to keep track on what I have done, earned and lost.

Secondly I am testing the waters using zulutrade. I know of no one using it, their forum is dead and the support is very short in their answers. I think therefore others, including you, my dear reader, might be able to benefit from my Blog. Anyone intersted in going live with zulutrade can learn from my experience, ideas and mistakes.

wishing all of us luck,
fx.zulutrade@gmail.com