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Signals Reviews

Best Swiss Forex Trader on ZuluTrade: OmahaFX

Today we'll have a look at the country with the most accurate watches, the tastiest milk chocolate and the purple cows (ok, I'm joking about that one): we'll have a look at the best signal provider from Switzerland on ZuluTrade. After 78 weeks of trading OmahaFX has attracted funds of $119,882 from as many as 50 followers. Thanks to the combined result of this capitalization and the solid performance, OmahaFX is currently at the top of the Swiss chart of SPs, and at the 50th place in the comprehensive ranking.

 
 

Strategy

 
OmahaFX is trading only with the EUR/CHF pair, trying to make the most use of trends – he opens the positions in accordance with the trend and then awaits until a preset take-profit level is hit. A potential problem with this strategy is the quick reversal of trends – even the smartest trend-follower can be affected by this. Then, there is the trouble of too many positions being kept open simultaneously – the number is usually around four but may reach as many as 25. One more trouble is the duration of trades: the average one lasts 2 weeks. Although this may be a sign of a trader's patience and steady nerve, this is also a pointer to high drawdown.
 
 
 

Performance: Very Stable System

 
The profit is at 5,973 pips, which is not a stunning result after 78 weeks of trading (that's like a year and a half), but the profit curve shows no steep dips and instead displays several periods of very sharp rises in profits.
 
Photo credit: ZuluTrade.
 
The maximum drawdown accompanying this profit is nicely low at 1,090 pips, but bear in mind that the drawdown may increase while the positions are kept open. For example, at the moment there are  four open trades with their balance negative at -163 pips. Imagine the size of drawdown if there are 25 such problematic open positions. Still, we should not speculate too much about possibilities: we'd better stick with the actual data.
 
The average pips per trade are rather high at 17, pointing to a stable system, set to withstand periods of rapid and sudden swings in the market environment. Moreover, the result shows that the system is not broker sensitive and that it will not allow profits to be eaten by spreads and slippage.  Talking of slippage, for this SP it's lowest with Weltrade, HotForex and AAAFX.
 
To copy the signals of OmahaFX you need to make an initial investment of at least $433, which is not a small sum. The size can be partially attributed to the drawdown that is sometimes accumulated while waiting for the closure of some positions.
 
 

Winners and Losers

 
Out of Omahafx's 31 live followers, 13 (or 58%) made profits, while 9 suffered losses. The troublesome fact is not only that the percentage of profitable traders is nearly equal to those who incurred losses, but also that the size of the biggest loss ($473) is way bigger than the size of the biggest profit ($137). On the brighter side, let's note that OmahaFX enjoys a great percentage of live followers – 62%, which says that traders put their trust in this SP.
 
 

Verdict

 
This SP is an interesting catch for those traders who prefer some old-fashioned trend-following, but in a bit more aggressive version. And, of course, you'll need some substantial funds to invest in OmahaFX. On a more positive side, the system is rather stable, not allowing any sudden market twists to ruin your account.
TAGS: zulutrade  zulutrade forex platform  zulutrade omahafx  omahafx  omahafx swiss  best sp switzerland  forex trader  forex sp  forex signals  forex social trading  trends  pips  drawdown 

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