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Signals Reviews

Russia's First Eagle: The New Top Forex Trader on ZuluTrade

Russians have a good sense of tradition and status quo – and this, believe it or not, is seen in any respect of life, including trading on ZuluTrade, the popular social Forex platform. Today we'll be reviewing First Eagle, the new best trader on the network from Russia. And he's not actually so new and unknown to us – we've reviewed his trading strategy DataForex Pro about a month ago. Back then that strategy was the best one from Russia – obviously, we may expect a lot from this trader. Moreover, he is currently the sixth most followed signal provider on ZuluTrade with 1,631 followers. 
 
Even more impressively, First Eagle is at the top position of ZuluTrade's comprehensive ranking and that has not been achieved by a Russian trader for ages.
 
 

Strategy: Early Bird

 
Hand on my heart – this is one of the most awkward trading strategies I've seen on ZuluTrade.  First Eagle trades solely with the EUR/USD pair – so far, nothing unusual! The peculiarity of this trading method is that the trader opens a series of positions (up to four) in accordance with the trend at (or around) 6:59 am. If in the next morning at 6:59 am the positions are profitable, he closes all of them. If they are loss-making he either keeps them open for further 24 hours to close them the next morning, or closes them according to a stop-loss level. Below you can see an example of this trading method:
 
Photo credit: ZuluTrade.
 
 

Performance: Bird of Prey

 
This trader is carnivorous when it comes to pips – First Eagle has been active on ZuluTrade since April 7, 2013, which gives us nearly a year of trading, and for that time he has managed to deliver some robust profits of 5,364 pips. 
 
Photo credit: ZuluTrade.
 
You can see that the performance has been particularly strong since the end of September 2013. One more piece of good news is that this solid profit is accompanied by low drawdown: the maximum drawdown at this point is at meager 460 pips and it has not been getting out of the normal limits since the inception of the account. This is one of the reasons for the minimal investment requirement for following this SP being relatively low at $215. 
 
In case you're not impressed yet, let me tell you that the trading system is very stable with the average pips per trade at 10 pips. This means that the trading system is robust enough to withstand the effect of sudden market changes, spreads and slippage. This said, let's still mention that the slippage for copying the signals of this SP does not fall below 1 pip – it's around that level for FXDD Malta, FXOpen and AAAfx
 
 

Winners and Losers 

 
First Eagle has a total of 291 live followers – this is the number of people who have trusted the signal provider enough to give him some real cash – at least the minimum investment required. The Russian trader has so far succeeded in making the majority of his followers profitable – 67% of the total have enjoyed gains from copying the signals of this SP. The share of loss-making traders is at 11%, which means that there were was less losses than profits. Moreover, the size of the biggest profit (at $2,486) is much bigger than the size of the biggest loss (at $160). Overall, the Russian SP has not yet managed to wipe out the whole initial investment of any of his followers, which is a good bit of news.
 
 

Verdict

 
OK – I can fairly admit that this is the weirdest trading strategy that I've seen on ZuluTrade. And yet, the trading of First Eagle is stable and profitable, bringing profits to the bulk of his followers and leading to a very small drawdown. Thumbs up for this one!
 
Any opinions and statements in this article are strictly subjective and should not be treated as investment advice. Forexbrokerz.com and all of its authors are not affiliates of any of the discussed signal providers, expert advisors and their vendors.
 
TAGS: first eagle  first eagle review  zulutrade  forex signals  signal provider  sp  social trading  russia forex  forex trader  pips  drawdown  followers  profits  eur/usd 
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