My Weekly Update of Zulutrade.com ending 10-17-09

Hello My friends,

I wish to start off thanking Chris (tcxmon) for his help. We have been communicating by email and he will be joining us in some of the Million Dollar Trading Rooms on Gotomeeting.com. I hope he can help us on the Zulutrade.com site. I read his blogs daily and he seems to me that he knows about Zulu. We have a bunch of traders in the room who are interested in Zulutrade.com. Hopefully he can help us. I will ask other Zulutraders, Providers to come into the room and give an explanation of their systems...

In reference to my account with Zulutrade.com, I opened an account with FXDD. I opened a small account of $ 500.00 bucks. I'm not worried about this small amount, I am taking trades with Zulu very conservative. I am only allowing two open lots at one time and only allowing 1 trade per provider. I hope this is the right thing to do. I have read some other blogs of traders on Zulu who allows multiple lots on each provider. I believe the less providers you have, the better off you are.

My account as of 10-17-09:

I opened trades with a provider LowestDD: I opened the account to trading on 10-16-09 LOL. I had two trades with Micro lots of 0.01. I noticed that on my statement in Zulutrade, it stated only 1 pip earned but I had 1.00 in profit. The second trade stated 1 pip profit. I called the customer service and they told me under Micro account, it will only read like 1 pip is equal to 10 pips. So therefore at .10 cents a pip and I made $ 1.00, that is is 10 pips. LowestDD opened a final trade on late friday and it was -32 pips in the hole. I did notice that on the close of the market, the Zulutrade statement stated that no positions were open. But, when I received my broker statement for the week, I observed the open trade of -32 pips. So you have to watch that. Im new at Zulutrade and dont know all of the ends on outs so to speak. Also, one thing I have learned is that you can set your provider to show trades in 3, 7, week periods. So when I turn on the platform on Zulu, I look at the 3 day period to see how my picks are doing..Something I like to do...I have attached LowestDD's 3 day statement below:













In reference to Sophistication(Provider), I entered his name late and did not get in on any trades..He had a Hell of a week. I did not load any pics on this provider..

My trades:

19 pips total @ 0.01 = 1.90
-32 @ 0.01= 3.20
Loss of -1.30

See you Sunday night in the Million Dollar Trading Room
Jimmy B.