I always use a tight stop loss, and only open 1 trade at a time max. That’s why my strategy has low drawdown, and because there is low drawdown, you can trade with higher lots which adds up to more profits per pip. I am trading on the up and down price swings of the EUR/USD Forex pair. Check out my results at https://www.zulutrade.com/trader/375516
When checking out potential traders to follow, something to consider, check the necessary minimum equity required. The lower the better. A trader with $250 necessary minimum equity required and a trader with $25 necessary minimum equity required, the trader with $25 necessary minimum equity required you will be earning 10 times more per pip than trader with $250 necessary minimum equity required. Just a little bit more to look at when you are looking for traders to follow.
An interesting question, Minimum Equity required, could you explain what the figure actually represents that Zulu Trade have on the traders page, I think this is a little misleading but could you explain, HFT
I beg to differ here, treat trading as a business and not as a gambling.
now tell me which business you can do in world with 25 or 250 dollars?
if some one is offering profits with such small capitals be assure it wont last to long.
forex is serious business and to make serious profits you need good amount of capital to start with.
Have to agree on the starting balance, in very rare circumstances and a little bit of luck a trader could start with a very low balance but the journey to substantial profit may take a long time, more often than enough a small balance can be wiped out very quickly, agree with the business side too.
Let’s say a follower has $500 in capital to invest(just an example). Trader A has $25 necessary minimum equity required, and Trader B has $250 necessary minimum equity required. If follower follows Trader A, follower will be using 0.2 lots($2 per pip) and Trader A earns 100 pips. Follower will make $200. Now if follower follows Trader B, follower will be using 0.02(20 cents per pip) and Trader B earns 100 pips. Follower will make $20. Do you see the difference? Trader A followers make more profits per pip.
I agree with the other users that starting with small balances ( balance < 100 EUR ) makes no sense.
Of course you can make big profits for a small period of time.
Good Job Breakout Trader …
Hope you will have some followers soon …
I wish you luck…
I also support the use of technical analysis for trades as it is easier andfavorable for new traders as well. EUR/USD is the most stable pair for new traders, in my opinion. Thanks for sharing your trading strategy with us
The EUR/USD right now is in the valley of decision. The US jobs number on Friday was very poor, so the aggressive downtrend was stopped in it’s tracks. Looking at my Forex charts, this currency pair is in a descending channel chart pattern. At the moment price is just below the old supportive trendline now turned into resistance level. I will be monitoring price action to see what is coming next. Checkout my results. Up 700 pips profit. https://www.zulutrade.com/trader/375516