Limit Your Trading Losses on fx-millionaire (2)

On 24th October, I did my my first review on fx-millionaire of Zulutrade and I wrote:

On its proven track record and given the extreme price volatility of this currency pair, I would assume that a position would be beyond repair only if with a drawdown of over 300+ pips.

Since then, 3 trades have been completed (as I only allowed one trade at a time).



1st trade drawdown -278 (less than 300 pips) = Win +87 pips
2nd trade drawndow -490 (more than 300 pips) = Lose -486 pips
3rd trade drawdown - 326 (more than 300 pips) = Lose -243 pips

I am 100% right on my analysis. So, set your stop wisely.

Meanwhile, there are some serious shake out in the leader board. Unfortunately, Nirvana has fallen from its grace. No matter how good is your entry system, you still need a exit strategy to protect your capital. Always expect the unexpected.