It's NOT about the pips!!!

As you probably know, I sell forex trade signals on ZuluTrade. That, however, does me no good because if you look at my stats, my system appears to be a complete failure. No one in their right mind, after seeing my stats, would ever subscribe to my signals. The reason why? Simple. ZuluTrade counts profit in PIPS. Monetary profit is shown in my stats, but you have to go searching for it. So when you pull up my stats page, the first thing you see is this graph...

OOH YEAH that really makes me want to get out my checkbook and invest in this system! Doesn't it do the same for you? (kidding)

But check this out. If you scroll down the page you will see the trading history. Here is a piece of that section...

In the diagram above, the most recent trade is on top. Notice where I circled in red shows that my account at that point was up over $1831, but I am down by 201 pips. Also, the most recently closed trade (circled in green) shows my pip count at -304, but my account profit at over $1415. So clearly, this system is winning. The account is up by almost 18% profit as of this writing in just 3 weeks.

I am very proud of my system, but am frustrated about the way ZuluTrade ranks things. The point I'm trying to make is this: Not all forex trading systems are about capturing the most pips. An effective money management strategy will enable you to lose many more pips than you gain, and yet your account will grow steadily.

Seriously, if you want proof, try my signals on a demo account for just one month. Start with $10000 and if after one month you don't have at least 10% profit on your account then you can assume I have no idea what I'm talking about. But I'm sticking to my original statement...

It's NOT about the pips!

Trying something new

Wow! I can't believe my last post was in January! I'll make sure not to let too much time pass between posts from here on.

Anyway, you probably noticed that Forex Set and Forget has not been producing profits in the last few months. Something changed in the markets the last several months and now the robot is useless until I get around to overhauling it, which will probably never happen.

But fear not, my dear reader friend! I have a *much* better robot now but it's not for sale. Instead I will be providing trade signals as soon as I find a decent service that lets me do it. Right now I am experimenting with ZuluTrade and Rent-a-Signal.

I can tell you right now I'm not liking ZuluTrade very much because they count profit in pips. My new robot loses much more pips than it gains, but earns much more money than it loses. Because of this, ZuluTrade makes my robot look like a complete failure. However, I rather like the look of ZuluTrade in general, so if I can make it work then I might use them. Another nice thing about them is the fact that they give you a choice of about 7 brokers that you can use for autotrading.

Rent a Signal seems to be good too but for me the look is not as attractive as ZuluTrade. However, they calculate profit in both pips and dollars, which works good for me. The main problem I have with them is (from what I can tell) they only support one broker for autotrading. This is the one I will likely go with.

I have my signals already set up on both right now, but ZuluTrade will not allow you to subscribe to a signal provider until they have at least 30 closed trades recorded. I am not quite to 30 trades yet as of this writing. Click the links above to see my stats on either or both.

One more thing...

If you have paid for Forex Set and Forget, I have not abandoned you. These new signals are provided for free as long as you open a live account through the signal provider and set it up for autotrading. But don't throw away your copy just yet because Forex Set and Forget may start working again in a few months. It may be that a new optimization will get it working again for another year or so.