Live Testing on Zulutrade (1)

I am currently trialling nirvana forex from zulutrade with my mini account. Its return looks pretty amazing on the performance page so far, and its strategy is claimed to be:

...based on S & R, Fib & COT report suitable for both trend following & range periods.The system trades 16 pairs--some exotics with wide spreads. Please be advised to use low leverage & large accounts to withstand drawdowns as the system is based on longer time frames which also helps to generate some fantastic returns

However, I have set some restrictions when using this signal provider as there could be many positions (lots) being opened at one time. At this beginning phase, I am only allowing 1 lot being opened at any one time. I have also increased the take-profit limit from 60 to 80 pips.

Below is the actual results traded via FXCM broker:


No. of trades: 6 (4W, 2L)
Pips so far: +50
P/L: +$43.17

Zulutrade: Sign up a demo account. (Demo data delayed by 60 minutes)

The Tipping Point

Quote of the day
Malcolm Gladwell, book author of "The Tipping Point: How Little Things Can Make a Big Difference"

What is The Tipping Point about?

It's a book about change. In particular, it's a book that presents a new way of understanding why change so often happens as quickly and as unexpectedly as it does.

I think that The Tipping Point is a way of making sense of the world, because I'm not sure that the world always makes as much sense to us as we would hope. I spent a great deal of time in the book talking about the way our minds work--and the peculiar and sometimes problematic ways in which our brains process information. Our intuitions, as humans, aren't always very good. Changes that happen really suddenly, on the strength of the most minor of input, can be deeply confusing. People who understand The Tipping Point, I think, have a way of decoding the world around them.

Charts of Interest: Double Tipping Points

GBP/JPY 5-min


USD/CAD 5-min

Commodity guru Jim Rogers's Views on US Dollar

Watch video.

Some of the points being made: FED should raise interest rate, not otherwise. Bailout is wrong. Let people fail. Inflation will be the the problem. Dump US dollar and do not sell China. Shunt oil and gold for now. Own Asian currencies, and etc.

Quote of the Day

Brett Steenbarger, Trading Psychologist

Less successful traders trade the same way across various market conditions. Worse, when their ideas and patterns stop working, they become frustrated and try to force the action. The more successful traders know that markets change: they shift their trending, and they change volatility. When their ideas stop working, they become risk averse. When their themes are paying them out, they're not afraid to put money to work.

(Source: "Such an Important Key To Trading Success", Traderfeed Blogspot)

Dollar's a Loser

On Friday, 28 September 2007:-

1. USD index made a new all-time low @ 77.66



2. USD/CAD set a multi-year low @ 0.9914

3. EUR/USD set a new all-time high @ 1.4274

4. Spot gold price rallied to the highest since January 1980 @ 746.7

Do Not Fight the Trend

Loonie's a winner...and my two losing positions.

Trading book:
Long USD/CAD (x2) @ 1.0204 effective cost

Hence, possible improvement to my trading system:

1) Use a 100-pip stop loss level when opening position.

I had 43 winners for the last 2 week (from 13 Sept), yielding a total of 941 pips. The average drawdown for those positions is -26. The highest drawdown recorded is -86. If I had the emergency stop in place, the system would automatically close out the losing position for -100. Hence, it should be a simple 200 pip loss on the loonie positions instead of a current running loss of 400. Looking at my results, I should not be afraid of trading losses, and it is OK and 'healthier' to take a hit occasionally.

2) Attempt to clear my trading book towards the end of the day.

Holding onto a losing position for too long could impair your trading judgement. This week, I 'carelessly' added onto a losing position, hence the second long USD/CAD position in my trading book. I even tried to long EUR/CAD . I think I can do better by having a clean, new trading book for each new trading day.

Canada's Dollar Rises to 30-Year High

It's happening again, with a 30-year record high since 1977! I am still holding a single long position USD/CAD position from 1.0302. The pair is pretty well beaten down (again) today. Earlier, it traded as low as 1.0200.

Although I am still quite confident about its "soon-to-happen" recovery, I am not going to add another long position from here (1.0228).

A week ago, my system experienced this as I overtraded the position .


The system has since rebounded strongly from there and right now, I just need to have some patience to ride this through.

Most Read FX Research Pages

Top 10 most read research pages on FXstreet.com:

1. Today's Technical Trading Points by Danske Bank A/S - Technical Analysis/Technical Analysis Reports
2. Forex Technical Report by iFOREX.bg - Technical Analysis/Technical Analysis Reports
3. Spot Forex Trades by Forex Survivor - Technical Analysis/Signals
4. Mid-day Forex Technical Report by ActionForex.com - Technical Analysis/Technical Analysis Reports
5. Daily Technical Analysis by Mizuho Corporate Bank - Technical Analysis/Technical Analysis Reports
6. Daily Forex Strategy Briefing by CMS Forex - Technical Analysis/Trading Strategy
7. Chart Patterns by Autochartist - Rates & Charts Section
8. Daily Recommended Trades by - Technical Analysis/Forecasts
9. Currency Performance Report by FXstreet.com - Technical Analysis/Trading Strategy
10. Currency Majors Technical Analysis by Mataf.net - Technical Analysis/Technical Analysis Reports

Follow the Money Trail System

Open a demo account with my system. And it's totally FREE.


Enough demo? Try real profits in real time. I suggest you to begin auto-trading with minilots and with a starting capital of $1000.


Then, follow my money management system to grow your trading account.