Forex $ocial Traders
 

           

SofiaFX: New Member Of My Martingale Challenge List

SofiaFxBulgarian trader SofiaFx is listed among top forex social traders on investment network Zulutrade. Currently he/she is #2 in Zulu ranking, however from time to time he/she also occupies Zulutrade throne.

As you may noticed, the trader is a new member of my Martingale Zulutrade Long Term Challenge ListIt is not an honor at all. If you do not know what the challenge is all about, here is a short explanation. (or you can watch my explanation video below)

On that list I post top ranked traders who use a risky trading martingale like strategies. That means, they add new positions to already losing ones when trend moves against them in attempt to average down price and close the whole package of positions in overall profit.

SofiaFX is currently doing exactly that with his/her EUR/USD sell positions. See image below.

sofiaFx-martingale

That can lead to huge drawdowns and if there is a strong EUR/USD uptrend, even to losing all profits. In that case, many followers would lose all their money. As we have seen many times in past .

My Zulutrade martingale challenge actually consist 2 list…on first one there are long term profitable martingal signal providers who are top ranked. On the second list you can see some of blown out accounts. You can guess which one is longer.

For more you can watch my explanation video:

2 comments to SofiaFX: New Member Of My Martingale Challenge List

  • Jimbo

    Sofia has now wiped out previous 2-3 months of gains and is still entering counter trend positions for big draw down and loss! A remarkable lesson in psychology, apparently they cannot do something different or just take a break from trading for a while.

    • guru

      well…that is simply their trading system. With that system it is easy to have 90% or more winning ratio when market conditions are in their favor, but once there is a strong countertrend, these SPs are in a big trouble…and their followers too.