Summary of positions per Currency Provider's comments and ratings. Users can read or post
comments and ratings Added sound notifications for positions on open and close
events Added a scroll bar on Signal Provider's Profile, so all
stats can be seen Fix of occasional crashes when the user was logged in Improved performance Minor UI improvements
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| PIRANHA, ZuluTrade Signal Provider Review |
The first step to opening your Live Account is to right click here for ZuluTrade and opens it in another window, when it opens, click on Open Account
Click on the “Create a new LIVE account” button.
Choose among the Brokers and create a new ZuluTrade LIVE account, whether you have a pre-existing account or not!
You may hover your mouse on a broker for a short description or filter them by their features they offer.
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Click on the broker's logo that you have an account with or would like to create a new one.
Do you already have an account with Selected Broker?
Select whether you have a broker account with the selected broker above, or not.
I selected Yes. And Click on the “Continue” button.
Enter your broker account username (ACC Number).
here, I enter fxopen real micro account.
Enter all your personal details, once completed enter the letters displayed in the image box and click the “Create my Live Account” button
Now, you should get a screen similar to the one below.
Open your account with the broker (fill out application and send them the documents they require) and then print, sign and send to YOUR BROKER, the LOA agreement giving Zulu the right to trade from your account.
Your live account back office will be available as soon as you finish your verification and send the LOA to your broker. They then add the live account to your demo account, choose the live account from the roll down menu at the topwhere it says ACCOUNT. This is what my live account settings look like:
The Equity is zero because I haevn't funded my account yet.
What we need to do now is to ADD A SIGNAL PROVIDER.
Signal Providers names are case-sensitive. To see how confusing this can be, consider the fact that there are 2 signal providers, one called Bigwin and another called bigwin. Let's take a look at the 2 providers to see how much difference one character can make.
First let's look at bigwin. My first impression is that he has a lot of aliases. This means he has a lot of experience, but also has tried a lot of different things. The other thing I notice is that he previously traded under the provider name auto-fx which I previously blew out of because he would enter positions and just wait for them to come back.
You can see this behavior right away in the performance results. For three month's activity, he has +400 pips closed profits, but he has -600 pips in open positions.
Finally, scroll down (not shown on the left) and he has 98% winning trades. In fact, he has 99 total trades and only one loosing trade, minus -993 pips. A signal provider that does not take losses is a red-flag. This is because since he's not playing with real money, his only objective it to "paint the tape" with winning trades. Sadly, this will draw the unsuspecting Zulu-novice and trash their accounts.
Next, let's take a look at Bigwin. Notice straight-away that he has only one alias. There was a time (prior to Q1 2009) when providers could open accounts under many different names and we had no way to tell who was who. The fact that this provider has only on other account is a good thing.
Next, notice that he has no open losses. This means that he either makes good trades with minimal drawdown, or takes losses when they occur.
Finally, scroll down (not shown) and notice that he has a more reasonable 82.5% win rate. This means that he a high win rate, but not unreasonably high.
Does Bigwin always make money and never loose? Let's take a look and some other time-frames. He has no trades in the past 3 days. But he has shown positive returns in the 7-day, 3-month and 6-month time frames. He has lost money only in the 1-month time frame, and this was on the GBP/USD move up to 1.70 which has since re-traced, but not without doing some damage.
There was a time when trading was a headache. Not anymore! You don't have to study or monitor the market to make a good pick, because hundreds of industry well-known experts from all over the world are doing it for you. All you have to do is pick the experts you like, and Zulutrade will quickly convert their advice into live trades in your trading account directly with the broker. And the best of all, it's completely FREE!
This is probably one of the most important aspects to Zulutrade is picking a Signal Provider to trade for you. From the statistics provided by the site there is over 1,200 traders to pick from.
performance statistics
Zulutrade has made life a little easier by providing detailed performance statistics.
2. Graph - shows the history of accumulated pips. You can select different time frames to display results, from 3 days up to 2 years. This a great visual indicator for when you are scrolling through the different providers, you want to pick one with a consistent upwards trend.
3. Pips - is the total amount of pips that the signal providers has made.
A pip is the minimum movement of a currency upwards or downwards. To calculate each pip for every currency, divide 1/ (currency pair exchange rate) Ex: 1/224.92 (GBP/JPY) = 0.00444 GBP. If you’re trading a 100:1 leverage account, then multiply this with 100. Ex 0.00444 x 1000 = 4.44 GBP. To transform this to USD just convert it. Ex: GBP/USD = 1.9377 x 4.444 = 8.6 USD / pip
Another example is to calculate a pip for GBP/USD. 1/1.9377 = 0.516 GBP. For a 100:1 standard account, multiply that with 10. Ex: 0.516 x 10 = 5.16. To convert in USD multiply with 1.9377. Ex: 5.16 x 1.9377 = 9.98 USD / pip
4. Profit - is the total amount of money in dollars that the signal provider has made
5. Trades - is the total amount of currency trades that the signal provider has made since they have been a memeber on Zulutrade
6. Avg Pips - is how many pips they make on average per trade
7. Win % - out of their trades this is how many were successful, which mean that they are in positives for pips
8. Avg Trade (hrs) - this is the average length in hours that open trades last for.
9. Weeks - how many weeks the signal provider has been trading on Zulutrade10. Max DD pips - this is the biggest drawdown that the signal provider has experienced in their history of trading on Zulutrade. I find that the smaller the better, other your equity is in danger if there is a big drawdown.
11. Users - this is how many registered users are using this signal provider to trade for them
Before choosing a provider:
Before we get into choosing a provider we need to have a good understanding of what a third party signal provider is. A signal provider is a trader or analyst that generates trades that in turn get placed on your account. You can have several signal providers trading your forex account or just one.
All of these performance indicators play a big part in the decision, there is not just one component to consider when picking a provider. You have to take everything into consideration including their profile and description that they provide. This will detail their trading strategy that they use. To get a good feel for how this all works is to have a good look around and analysis individual signal providers.
Another excellent feature is that you have sort by any of the headings at the top, all you have to do is click on one of them. For example if you would like to see who has the most user you would click on the Users heading.
Like anything else, all third party signal providers are not created equal. At first glance a trader may look like a home run. That same trader may well end up completely torpedoing your entire account in one afternoon. To help make sure this doesn’t happen we’ll set down a few guidelines. These guidelines will give us something to look for when choosing our third party signal provider.
1- Choose A Winner - This may seem obvious to everyone but it goes a bit more in depth than first glance may imply. Not only will you look at profit in both pips and actual dollars, but you should also take a look at pips per trade and how many trades that system generates per week. If one system generates 10 pips per trade but only makes 3 trades a week you average 30 pips per week. You may have another system that generates only 6 pips per trade but generates 25 trades per week. With this system you make 150 pips per week. All things to consider.
2- Choose A Trader That Is Established - I often see traders with only a week or 2 of history and they have 20 or 30 people trading their signals. Generally less than a month later these traders are deep in the red and their 20 or 30 investors have moved on to the next signal. Remember that anyone can go on a run for a week or two. Make sure that you have someone who has proven themselves for at least a couple of months trading your account.
3- Check The Max Draw Down - A really big draw down often equates to a trader that cannot cut his losses. Since he isn't trading with real money he can leave a trade open until it turns a profit. That will often lead to a good trading record on paper but in actuality it will make you(the investor) go broke.
This is the largest peak to trough draw down in equity that the trader has historically had. Some traders refuse to take a loss. This causes them to hold on to losing trades forever or until they turn to a winner. Turning a loser into a winner sounds great, but it will eat up a huge chunk of margin and may never turn around. If it doesn’t turn in your direction, you will have your entire account destroyed by a trader that could have taken a 30 pip loss but held on until it was an 800 pip loss.
4- Look At The Actual Trades - Once you narrow it down to a few traders its time to look at their actual trading history.Some traders have a great track record and have made a lot of money in a short amount of time. The first thing I look for is if they are opening the same trade over and over. ie. Some traders will go buy 1 lot of EUR/USD 25 seperate times at once.
This means that if the trade goes in their favor, all of a sudden they have 25 winning trades in a row. It causes their results to be skewed and makes them look a lot better than they are at first glance. If you are trading a signal provider like this you will often find yourself getting margin calls as well as he continues to open trade after trade and never closes the previous ones.
5- Make Your Own Decision - Just because a signal provider has hundreds of people trading his or her signal does not make them a great choice for you. Do your own homework and decide which system is best for you.
6. Choose a signal provider that suits you - Some traders may provide larger returns over time, but take bigger risks leading to bigger draw downs. This might be OK with you. If you are more conservative and cannot stomach large drops in equity you probably should choose a more conservative trader.
These are just a few things to look for when choosing a third party signal provider to trade your forex account. You should always trade a demo account before opening a live account with real money. Remember it’s your account. In the end you choose the signal providers, and you are responsible for what happens.
If you haven't yet signed up for a FREE demo account Click Here.
The first step to opening your demo account is to right click here for ZuluTrade and opens it in another window, when it opens, click on Open Account
Click on the “Get a free demo account” button. Please use a demo account first, you know it the prudent thing to do!
Enter all your personal details, once completed enter the letters displayed in the image box and click the “Create my Demo Account” button
Now, you should get a screen similar to the one below and you should also get an email, open the email and click the activation link in there.
This should open another browser window like this one. You can close down the other one, there’s no need to enter an activation code since we just activated from the email. You now have a free demo account with ZuluTrade and can go on to step 2.
Click on ‘Account Settings’ , you should get a page like this
Here is your profile and account settings page:
You see the tabs PROFILE, SETTINGS, POSITIONS, ORDERS, HISTORY, TRADE, INVITE? Click on second tab SETTINGS
You have $50,000 in your demo account and 30 days to test out the signal providers with this amount.
Now for a demo account you need to leave the lot sizes as Standard. For a live account you should set this to match your broker account type. If your broker allows mini lots ( 0.1 lots ) then set this to mini lots. If your broker allows micro lots ( 0.01 lots ) then set it accordingly. We will be trading fractional lot sizes on smaller account balances so please make sure your broker account will allow this. This info is for when you go live though, so for now keep your lot sizes as Standard.
The next step is to set the maximum open lots to No Limit; I won’t blow your accounts, promise! Maximum lots are shown on the risk page;
Click on ‘add a Signal Provider’ , you should get a page like this (Performance page)
For Summary List: Enter signal providers name into the box 'signal providers name' and hit enter or click “Show Signal Providers”
You will see the following page next
There are hundreds of signal providers. Our job now is to find the really good ones! Look for a high number in PIPS, which means how many pips they have won .... and look also for a lower MAX DD PIPS, which is how many pips they had in maximum drawdown (second to last column). The stars next to the name show how users have rated them. Hover your mouse over the stars to see the rating. A red triangle means they are high risk traders.
You choose the ones you want... we can change any time, we are hunting for the better signals so we know who to use when we go live. Open as many demos as you want, test providers. Keep me informed if you find good ones!
Click on signal providers name (for example "SystemsFX LIVE") and you will get the following page.
Click “Add to my Portfolio” and you’ll see the following.
The default of 1 lot is fine, we will be individually setting each currency, so just click “Add Signal Provider”
The Signal Provider has been successfully added in your portfolio. You may now add new Signal Providers or go back to your Portfolio.
Your Portfolio:
Click "Advanced Settings" to show the more advanced settings that you can have to manage your Signal Providers such as Stop, Limit & Reverse
You’ll see a screen similar to this. Next you need to tick the “Advanced Settings” box, click on the circular button next to Signal Provider name as shown and click “Configure Currencies”. You will see a screen like this one.
You can to set the lot sizes. When we set up a live account, they will be different. This is for setting up a demo $50,000 account.
Here they are
Click on "ADD A SIGNAL PROVIDER" button again and add another and another.
Your "Margin call-o-meter" may go into the red, Don’t worry about the margin call-o-meter, this is ok since it is a demo and we want to see as many results as possible. In a live account, you want your "Margin Call-o-Meter" to be green! When you add additional Signal Providers, you will get a warning that you shouldn't, but on the demo, click ADD ANYWAY.
Now all there is to do is to log in once in a while and see how your trading is going. Usually when you log in, it will take you straight to your POSITIONS tab and show you any open positions.
That’s it, you’re all set up. Now all you have to do is sit back and watch the robot trade. Once you’re comfortable with it’s trading strategy then we can set up a live account!
You can now log out or keep watching to see how your demo account performs.
Hi all those zulutraders out there. Just wanted to do a quick blog on the benefits of using Zulutrade to autotrade for you, in affect having a managed forex account that you invest money and watch it grow. Just a quick background again for people who don't know how Zulutrade works. Zulutrade lets you pick among the elite 3rd party expert signal providers and converts their advice into live trades in your brokers account for FREE.
There are many benefits to this approach:
1. You don't have to know how to trade forex - it take many years and alot of time to master how to trade forex successfully. Why spend your time and money learning how to do when you can back a specialist to trade for you and mange your forex accounts.
2. Don't have to sit at your computer for hours on end - trading currency online requires time and energy sitting at your computer watching trends, price movements, analysis etc. Using Zulutrade you can be asleep and still making money with an expert signal provider working for you. Why work hard when you can work smart.
3. Manage your risk - With Zulutrade you can manage your risk by changing settings in your account. There are many features that you can select from including: how many lots are traded, how many trades opened at one time, how many signal providers etc.... Zulutrade.com has also included a feature called Margin Call - o - meter which is takes into consideration your equity including open positions and suggests where your setting should be. I will go into more details about this in a future post because it is very helpful.
4. View performance results from Signal Providers - Zulutrade monitors all the signal providers that have signed up to their system and provides all types of stats and performance results. What this means is that you can make an informed decision on who to use and what results your are likely to achieve. A good idea is to demo trade first and work out what fits best for your investment strategy. To set up a FREE demo account Click Here.
5. Takes away stress & emotion away from trading - Don't have to worry about when to enter and where to exist and whether all the signals are in place. Trading and be very exciting but it can also very stressful if you don't know what you are doing. The very best signal providers know how to trade without their emotions getting involved & have proper & proven money management stategies that they have learnt over many years. Save the grey hairs and get someone else to trade for you.
This is the first post of many to come - this blog is dedicated to uncovering, studing, testing, reviewing and everything else you could think of to do with Zulu Trade. It is an exciting new website that I have recently come across and think it has huge potential in the forex trading world.
What I like about Zulu Trade is that it has grouped together lots of talented and professional traders from around the world on one website and it FREE to use. The website provides detailed information and performance statistics about each trader. This information includes pips, profit, trades, % win and lots more. This is a great guage to work out the best fit trader for your style of trading. Another thing I like about this system is that the trading platform, indicators and signals are all included on the one site. You don't have to download any additional software, or go to another site, all you have to do is login once you are registered, again it is FREE to do so.
Zulu Trade offer two different accounts:
The thing i like about this is you can use the demo account to test out as many traders as you like until you find one that you are happy to trade a live account with. This saves alot of money and time because you don't have to pay to do testing.
Zulu Trade was founded in 2006 by Leon Yohai. ZuluTrade bridged the gap between valuable information in money markets and trade execution by converting the advice of some of the most professional and talented traders globally, to a rapidly executed trade. Every day, ZuluTrade receives thousands of buy and sell recommendations from some of the most popular signal providers in the market today, trading automatically your broker account.
Zulutrade is a free service to the end user, and generates revenues by getting rebates from brokerage institutions worldwide, sharing them with the signal providers. The company is based on Wall St. NYC, and has clients from all around the globe. Zulutrade is available in 19 languages, and has a number of patents pending for the unique technologies and methods being developed internally. Zulutrade aims to support the most popular brokerage institutions worldwide, as well as a growing list of the most profitable and sophisticated signal providers.
Please stay tuned to this blog as I will be providing my results from Zulu Trade. I will also endeavour to put some videos up to show my earning records. I am currently operating a demo account, but in due course if things go well I will looking to start a live account once I have found a good relationship with a successful trader on the site. Look forward to receiving your feedback and experience with Zulu Trade.
Click Here to sign up for a FREE account to get started.
That's enough for now - may the pips be with you!
