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Signals Reviews

New Zealand's Best FX Trader on ZuluTrade: FXNZ GBPUSD

Today we'll be exploring New Zealand's most successful signal provider (SP) on ZuluTrade – FXNZ GBPUSD. Behind the bunch of letters in this name, there is a very interesting trading method, which involves a combination of risk appetite and patience.

 

But first things first, let's meet. FXNZ GBPUSD has been trading mainly with USD/JPY and GBP/USD on a real account with AAAFx since January 2012, which gives us 87 weeks of trading. And for this relatively long period of time, he has attracted only 4 followers and the capital entrusted to him amounts to modest $4,824. Then what makes this SP the most successful among the other traders from New Zealand? Moreover, what is the secret that places him at the 7th spot of Zulu's comprehensive ranking? I'll shoot straight away: 

 

24 consecutive trades that generated profit of $28,300

 

Take a look at the profit chart and pay attention to the steep rise on September 5, 2013.

 

Photo credit: ZuluTrade.

 

What happened is that the trader closed a series of 24 long positions with the USD/JPY pair on September 5, 2013 – the interesting part is that all of these positions were opened one after the other on January 10, 2013, hence the trader waited for quite some time to reap that gain. 

 

 

Strategy: Grid against the Trend

 

This occurrence is indicative of the strategy that the trader uses: he opens a number of positions against the trend (the signals are most likely given by an expert advisor) and then waits the trend to turn so that he can close the grid at a profit. Obviously, the grid is in the fixed interval between the opening prices and the time of opening too. 

 

Here is an example of a small grid of trades that ended in a loss, as it often happens when the trend does not turn as soon as we expect it to do so:

 

Photo credit: ZuluTrade.

 

Such series of trades may incur great drawdown until closed – and this is partially the reason for the high requirement for initial investment to follow this SP: whooping $620. 

 

 

Performance: One Good Trend Pays for Them All

 

Obviously, the astonishing success of New Zealand's top performer is due to the 24 mega-profitable trades closed in the morning of September 5, 2013. It turns out that 28,320 pips out of the whole profit of 32,953 pips come from this lucky series. However, what we are left with, if we strip off this extraordinary achievement, is a pretty dull profit result (as you can also see from the profit chart).

 

The maximum drawdown is modest at 1,030 pips (3%) but that is due to the high profit, inflated by the lucky grid we just discussed.

 

The same factor affects the average pips per trade reading which stands at (wow!) 82 pips – a very robust reading, indicating the strength of the system and its resilience to swift market changes and stuff like spreads and slippage. But bear in mind that the reading would be quite different had it not been for the 24 trades.

 

Only Losers

 

Out of the four followers of this SP, two are live ones and both have lost money – perhaps they have started following the subject of our interest after January 10, 2013 and could not benefit from the big rain of profit from September 5th

 

 

Verdict: Have Money and Patience

 

Apparently we are dealing with an SP that aims to wait for as long time as needed as to get the most of a trend, even if this takes months and results in drawdown. This is why I can recommend the  FXNZ GBPUSD only to those of you who have great patience and are willing to invest a substantial sum of money in following him. 

 
TAGS: zulutrade  zulutrade fxnz gbpusd  zulutrade forex  forex signals  forex social trading  forex platform  fxnz gbpusd new zealand  zulutrade best new zealand  forex trader  signal provider  sp 
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