Wednesday, February 13, 2013

Zulutrades Comments - Funny/Sad Reading

Today I have realized one very interesting thing. People (I mean Zulutrade followers) are very naive.
I do not mean to offend anybody, but if you´d like to know what I mean simply go, find a signal provider who has thousands of followers but he is using a strategy without stop loss, with multiple positions, close to 100% winning ratio or martingale system.

These kind of providers often manage to get to Top 10 very quickly because they are not using stop losses and when trend goes against them, they just sit and wait till it return in their favor or simply add more positions.

But back to comments and followers. Today I´ve seen a beautiful example. Current Top1 signal provider opened EUR/USD position. Prices moved against him so he opened another position and later 2 more.
he was -270 pips and comments started to come in. As you can guess, all were negative. The trader got lucky and trend reversed so he took small pips of profit of each position. Suddenly positive comments started to come in :)

The funniest thing about that comments was like: "Best trader..." , "Amazing how he handled the situation..." etc. And all this trader did was, he was just sitting, adding more positions without stop loss and putting more and more risk on his followers and they didn´t even realized that.

Sad thing is that exactly this happened  with FCC....he was doing the same thing, he was hero, till the huge counter trend came and hew blew hundreds or thousands accounts out. And he still earns commissions.

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