The Third Richest Trader from Canada on ZuluTrade: Yoyo_FxFreedom_002
Nov 12 2013 12:05:28 GMT
By Maria Nikolova , Forexbrokerz.com
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Today we'll be exploring Yoyo_FxFreedom_002, one of the best signal providers from Canada on social trading platform ZuluTrade. In fact, this SP's capitalization has just recently passed $1 million and currently stands at $1,000,080 – a sufficient amount to place him amid the 20 most capitalized traders on the platform and on the third place amid Canadian SPs.
This trading system has impressed me with the high profits in the face of the low-risk strategy implied so I thought that it would be a good idea to take a look at it together with you, fellow traders.
Strategy
The Canadian SP trades solely with the EUR/USD pair, which must raise a red flag for many, as we know that many of ZuluTrade's top performers could not handle trading with this pair around the US government shutdown. This SP also had a couple of problems but managed to escape relatively unscathed – that could be partially due to the low-risk strategy I mentioned earlier. Two months ago the strategy underwent a change so that the number of positions kept open simultaneously does not exceed 2 – the growth of the profits slowed down but the risk of losses was reduced too. The stop loss level is above minus 80 pips, however, the trader decides on the particular SL level ad hoc. This, by the way, is a source of annoyment for many followers, who like to have such parameteres fixed in advance.
The SP seeks to detect trends thanks to technical indicators and then to open positions in tune with the trend. In rare cases, the positions are opened against the trend.
The average trade duration is five hours which is a good reading in that it does not lead to high drawdown or swap charges.
After only 21 weeks of trading on the platform, Yoyo_FxFreedom_002 has managed to generate profits of 5,257 pips, which is a very solid result. Moreover, the drawdown is kept within reasonable limits and currently the maximum drawdown stands at meager 590 pips. From the drawdown chart you can see that it's almost non-existent, while the profit rises slowly and steadily:
Photo credit: ZuluTrade.
If the trader succeeds in keeping the drawdown at this negligible levels, we may be looking at a strong contender for the top spots on ZuluTrade.
The average pips per trade are at 8 pips, which is not the strongest reading we've seen, but that's a normal one given the short duration of trades. Indeed, the reading is above 5 pips, which means that the system is posed to withstand sudden market changes and effects from trading peculiarities like spreads and slippage. And, as we normally do, we enlist the three brokers that offer the lowest slippage with this SP: Dukascopy, AAAFx and HotForex. It's a good idea to pick among those. By the way, Yoyo_FxFreedom_002 is among the handful of signal providers who monitor how followers perform. In addition, he notices extensive slippage and warns the follower at risk. Now that's something that deserves a praise.
As of today, Yoyo_FxFreedom_002 has 706 followers – out of those 273 are live ones, which means that each of them has entrusted at least $208 of actual cash into copying the signals of the Canadian trader. Out of the 273 live followers, 164 (60%) made profits, while only 69 suffered losses. Moreover, the size of the biggest profit ($780) substantially surpasses that of the bigest loss ($288). Obviously, this SP is profitable for his followers.
Verdict
As I said earlier, Yoyo_FxFreedom_002 has impressed me with his ability to generate robust profits, while maintaining drawdown low. Given the high percentage of profitable followers and the relatively small initial investment you need to follow this trader, he's apparently a worthy SP on ZuluTrade.
AMOUNT FOLLOWING
$4,182,655
PROFIT
9,442 pips
OPEN POSITIONS
0 pips
WEEKS
44
FOLLOWERS
4003
ROI
497%
TRADES
851
WINNING TRADES
769 (90%)
AVERAGE PIPS/TRADE
11.0
AVERAGE TRADE TIME
12 hours
MAXIMUM DRAWDOWN
14% (1.32K)
MAX OPEN TRADES
10
WORST TRADE
-287 pips
BEST TRADE
197 pips
HAS LIVE FOLLOWERS
Yes
NECESSARY MINIMUM EQUITY
$286.48
VIEWED
190,603 times
AMOUNT FOLLOWING
$3,682,479
PROFIT
11,991 pips
OPEN POSITIONS
0 pips
WEEKS
47
FOLLOWERS
3410
ROI
935%
TRADES
1612
WINNING TRADES
1244 (77%)
AVERAGE PIPS/TRADE
7.0
AVERAGE TRADE TIME
12 hours
MAXIMUM DRAWDOWN
7% (861)
MAX OPEN TRADES
6
WORST TRADE
-400 pips
BEST TRADE
203 pips
HAS LIVE FOLLOWERS
Yes
NECESSARY MINIMUM EQUITY
$221.38
VIEWED
578,547 times
Profit made from following this trader