Signal provider Zulutrade

    • tocopherole
      tocopherole
      Bronze
      Joined: 05.08.2008 Posts: 483
      hey, I have opened 2 demo accounts and made with 50k$ a good profit with some signalproviders.
      I cashed 1000$ in my account and got in the last 2 days 220$ profit. :)
      At the moment I have no experience with forex trading but now I'm reading the newbie stuff on babypips. :)

      does anybody have experience with real trading on zulutrade?
      it looks very easy but I don't know if i can trust.

      http://www.zulutrade.com
  • 2 replies
    • Marple08
      Marple08
      Bronze
      Joined: 13.03.2008 Posts: 3,869
      I do have some experience with signal following on zulutrade.

      And although it might be profitable it is not the holy grail, as the system is flawed.

      • signal providers are paid per trade, hence they have a big incentive to put in as much trades as possibles. Which is normally not a way to earn money.
      • Signal providers tend to have poor money management. Meaning that they have way too large stops and don't allow their winners to run.
      • The graphs the providers show can be tweaked.
      • There is a time delay between the time the provider enters a signal and the time you take the trade. During this time the price moves and this might cause you to have a worse price. Moreover following the provider cost you some pips. Hence you should look for providers that make quite some pips per trade on average.
      • It is very hard, ( I believe impossible) to profit from signal following on sites as ZuluTrade and look alikes.
    • Marple08
      Marple08
      Bronze
      Joined: 13.03.2008 Posts: 3,869
      Having profit on a demo is easier than on a live account because on a demo you don't are affected by the slippage so much.