Here is this signal provider´s story in short:
Forex Cruise Control (FCC) became made a very nice profit, went to TOP1 in Zulu ranking and got thousands of followers. During his top glory, amount following him was about $30 million.
So he had many thousands followers and was earning huge commissions from Zulutrade.
But the problem with his strategy was that he was not using stop loss and even was adding to losing positions waiting a trend to reverse in his favor. This way he made a lot of pips of profits, even with some big drawdowns. But one day a huge opposite trend came. FCC was as usualy adding more and more positions, but trend was refusing to turn into his favor. That way he created a huge drawdown (3,22k pips) which blew hundreds if not thousands of accounts. Those who were not wiped out left him with big losses.
And guess what, this signal provider still has 2859 followers (up to date). Those must be a really very loyal followers, or those who still hope to get their lost money back, because I can´t imagine any new followers joining him. The thing is that he did not made any significant profit for last 6 months (maybe around 200 pips). But he is very clever. He managed to close 4 of 6 months in profit (20 or 40 pips) and secure his commissions.
So how much this trader can earn per month? Well this will be a pure speculation, but let´s do some math to see.
As I said, he had 2859 followers. Some of them might be demo accounts, but if you check Live Followers tab on his stats page you can count them. I counted almost 2400 live followers. Let´s say that some of them currently don´t receive his signals. So let´s play with 2000 followers.
Now, let´s pretend that each of them trades only 1 microlot. That is 5 cents per trade per follower.
2000x $0.05 = $100 per trade.
FCC average 40 trades / month. That makes 40x $100= $4000 monthly.
Can you imagine that people lost hundreds thousands of dollars, those who still follow him earned alsmost nothing for last 6 months and he still earns $4k or maybe more monthly?
Interesting, isn´t it?
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Maybe you will like it. ;)
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