So, It’s been a long time since I posted anything here for various reasons. Since the last time I posted we’ve released a new project at work which means a lot of stress/overtime, I got married and my son was born. So there hasn’t been much time for blogging or trading. But now when the summer ends I hope to get some more time for this.
I have stopped following all traders at eToro and started looking at other options instead. I still think eToro could work if you are more selective about your traders, but the big problem is that every trader is chasing too much profit with too much risk. And I think this is the underlaying problem with eToro and similar sites. Another problem is the payment model they use. As a trader you get paid depending on how much assets you control and this is not related to your result. But I think as long as you are willing to spend some time selecting your traders and not just go for the most popular ones. Low draw down is key here. I was looking at ZuluTrade the other day and one of the most popular signal providers had 538% drawdown. So exactly the same problem as eToro.
Since I haven’t been doing any trading or blogging this summer I’ve had some time to read up and research stuff and right now it feels like everything is coming together. I have started developing a couple of strategies for an EA to be run on ZuluTrade. I will make another post explaining that site later on. My focus has been consistent profit with low drawdown, so I’m guessing that i won’t make it to the top traders. I have found three promising strategies, one based on price action, one simple based on moving averages and the final one based on four different indicators. All of them are showing a good profit when testing in strategy tester in MT4.
Why MT4 instead of MT5 you might ask? Well, the simple reason is that ZuluTrade doesn’t support MT5, and so far I think MT4 is easier to work with (coding wise) and way faster. MT4 are missing some nice features in the strategy tester but you can’t get everything, right?
I will write some posts about ZuluTrade and why I’m choosing that one instead of eToro and also do some explaining how to create strategies with a MT4.
Stay tuned and happy trading!