ZuluTrade
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Overall
Too high spread. I'm expect profit but I got nothing with this SP.
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problems with orders
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I also tend to agree with the statement above. There are quite prominent and a follower easily understands who will bring him/her money. The system is very professional based to show via a comprehensive database of a large pool of signal providers available, thus enabling the viewer to find the signal providers with the best ratio of winning trades; best pip count; average profit per trade;average trade execution time;maximum draw down and number of investors subscribed.
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I have to disagree with you.
In order to attract live accounts and keep making those rebates, you HAVE to be a good trader. Either wise, you make a few bucks as a provider for 1-2 months, then you just burn! Live followers are not stupid and will stop following you when you mess up!
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The idea of Zulutrade is quite interesting but unfortunately not profitable, at least not for me. The reason is that absolutely everybody can become a signal provider. You just have to sign up, make 31 trades and your profile goes online no matter how bad the results.
Since the signal providers get payed per trade most of them have developed certain technics to make as many trades as possible and not as much profit as possible. They close positions with minimal profit just to open the same possition again, they open countless possitions on the same currency pair, or they don't set SL witch often leads to big DDs.
This system probably works for Zulutrade and for the signalproviders but it hardly works for their followers.
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I like the margin meter. Everytime indicates me where not to go. I have tried it with high % and with low and needless to say when % was too high I was loosing cash...I do not understand all the math and problems you are discussing above, but I am pretty satisfied with the indication. ALso it is great info of the risk appetite of the provider ;)
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Good for you. However bear in mind that that it only limits lots per trade and you have no control over the open positions, meaning that even with low lots, if and when the provider changes his strategy or simply messes up, you risk your account being blown up! i experienced this in my demo account, since I wanted to try out the option and for one day results were pretty ugly.. thus immediately switch to the manual.
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Markopolo, Brave move! I lost 2 of my 10 accounts on Friday with Sharper Trade and Shooting Pips, 6 weeks profit. Al lot of Zulutraders lost their whole accounts. You are welcome to contact me at my username at gmail if would like to discuss this further. I will show you all my accounts and teach you everything I know. I would like to learn from you too!!😄
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I ve decided to test your theory brave and opened 5 different demo accounts, $1k each, with 1 provider each to see the results and if the risk is reduced.
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I also wanted to share that I am pretty satisfied with the zulutrade platform...demo version's great - where you can straighten your strategy - providers and currency pairs.Great automode option for newbies -you just sets the meter on how much you are willing to risk and then the lots got multiplied for you based on historical performance. Not bad, especially if you don't know much in this area...basically works everything for you - no need to think about the strategy or manual lot calculation...😁
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Great post!
The idea of having 5 separate accounts to spread and reduce the risk is very interesting! Maybe it would be good also to choose the brokers with the less slippage to open them (since aaa allows only 2)!
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CAUTION - BACKTESTING, REQUIRED EQUITY and MARGIN-CALL -O- METER.
Zulutrade is an excellent innovative trading platform, but I would just like to inform and caution all my Zulutrading peers about some of the very expensive lessons that I have learned through the unnecessary loss of capital due to misrepresentation of historic data on the Zulutrade platform.
THE BACKTEST
1. Please take note that the backtest is only useful to determine the estimated profit that could have materialised in the past, with the maximum open trades and maximum open lots followed by the Signal Provider, without taking into account any stop losses or stop limits.
2. The backtest does not take your own maximum open trade settings, maximum open lot settings and stop losses or stop limits into consideration. When you change these settings, the backtest remains the same. The only factor which influences the backtest graph is your own ‘lots multiplier’ setting.
3. Do not, however, measure the Max DD on the DD graph and adjust your lot multiplier accordingly, as you will receive a Margin Call sooner than expected. The real DD is, in some cases, up to 10 times more than the Max DD displayed on the backtest graph.
4. The drawdown graph on the backtest only displays the max DD of a trade on the day that the trade closed, not on the day that it happened. It is totally skewed. You can do your own comparison by comparing a SP’s backtest with the SP’s drawdown graph on the SP performance page.
MINIMUM REQUIRED EQUITY
1. The NFA helped traders a great deal by requiring that Zulutrade state the minimum required equity for each signal provider and that they provide a more realistic performance graph.
2. I finally got the formula for your ‘minimum required equity’ from Rose, after numerous attempts. To all my requests I have received various answers – from no answer in the forum, to that it is an algorithm not available to us from the support staff.
She wrote the following:
“The minimum required equity is calculated based on the assumption that you will receive all trades executed by this Signal Provider, and withstand any drawdown that has occurred during his trading activity without receiving a margin call, assuming that you are trading 1 micro lot for each of his trades, with 100:1 leverage.”
For the first time in months I could calculate the Max DD in currency by inversing this formula:
MaxDD($) = Min Required Equity – max open trades x $10
Now I can do my own calculations according to my own leverage and the risk I am prepared to take. My leverage is 200:1 so I multiply by $5 instead of $10. (I am still a little concerned about the accuracy of the ‘minimum required equity’ when it comes to a SP with multiple pairs and SP’s with low percentage winning trades. I have, however, tested and confirmed the accuracy with single pairs.)
3. Note that the required equity value changes as you change the time period, for example from ‘all’ to 6 months history, so you can make your own decision on what historical timeframe you would like to base your risk.
MARGIN CALL -O- METER
1. The margin meter has some benefits, but could also be a bit deceiving in some cases. The margin meter reading is determined by the calculation of the worst case scenario by multiplying the worst trades with the max open trades and possibly a few other parameters.
2. The problem is that many SP’s started over a year ago with some bad trades, but noticeably improved their strategy during the last 6 months. Their first few trades will always influence the margin meter reading and it will read a lot more that it needs to be.
3. On the other hand, if you use a SP with a low winning percentage and a low DD you will get a very low margin meter reading. The problem with this is that you could easily lose all your capital – not due to a DD but due to a string of losing trades before the winning trades start! This also applies to the minimum required equity. (In this case it could be best to do a backtest and measure the worst dip in the graph and add the max DD to determine if you have sufficient equity.)
A FEW TIPS ON PROTECTING YOUR CAPITAL
1. The biggest challenge we have with Zulutrade is that any SP could change his trading behaviour in an instant and destroy your account. The auto trading system keeps on auto trading until you run out of money and there is no programmable stop!! I suggested a programmable stop on various occasions to Zulutrade on the forums etc., but doesn’t seem as if that is going to happen.
2. One SP can easily destroy an account with 5 other excellent SP’s. The best solution that I have found thus far, that works with great success, is to open multiple accounts with one SP on each account. For instance, if you have 5 accounts with the same balance with 5 different SP’s loaded and one changes his trading behaviour, you only lose 20% of your capital at most. (One problem is that AAAFx only allows us 2 accounts, but SunbirdFX, with the lowest slippage and the lowest costs, allows unlimited accounts. For personal service and benefits for Zulutrader’s , ask for Michelle)
3. Using Zulutrade could be very profitable, but we need to challenge Zulutrade all the time to improve the essential information on the platform, that we base our decisions upon, instead of improving the marketing bells and whistles.
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the bad guys are still the broker bridge .. i used to trade with alpari and the BS dealing desk gave me horrible requotes and 5 pips on eur/usd
so ... zulu made a good job and offered high end software to easy enduser usuabliity
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I agree that anyone can become a provider.
But I disagree to avoid, because if you know how to search, you will find some good providers that stick to their strategy, follow rules and respect their followers (and thats the biggest issue of zulu providers IMO)
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I'm sorry but ZuluTrade is TOTALLY UNPROFESSIONAL. They let ANYONE provide signals without any testing or validation. You may as well accept trading advice from anyone on your local street.
Just DO NOT GO THERE!
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Yes, the last one you say is only useful for affiliates I believe.
I would still like to see a tool where you can auto-disable a provider when he looses.
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I see some nice updates in the user interface mainly, like you can view open positions by provider or pair or per trade. And on the performance page, you can send providers as recommendation to friends (affiliate tool?)
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Well a good domain name is not enough, you need to make a nice and attractive website as well. And a bit of search engine optimization so it comes on top on google!
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Today a jump of almost 7.000 positions in Zulutrade ranking for AGIRE FX-5!
Something is moving...
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i found it on flippa.com and actually it was a private seller .. price was 18k but had no bids ..
recieved response from [email protected]
yeah indeed catchy --- but i see no good pagerank -. with a lot work you may get it to million status ?
