Yes, diversification is an essential prerequsite for being profitable with Zulutrade. But it’s just not done with adding multiple signal providers trading as many different currency pairs as possible.
What I have learned is that one needs to monitor the way how a signal providers trades, e.g. when are trades opened and closed, does he/she trade with or against the trend…
To give you an example: Yesterday I added a new signal provider (Elohim-777) to my account. I liked the 94% winning record, the multiple currency pairs being traded and an average win of 35 pips/trade. Also, the worst trade with -155 pips seemed acceptable to me.
Guess what happened? The first trade was short on GPB/USD, right into the retracement of a short movement that turned out to be the trend change. This sp has opened additional positions all heading to the wrong decison; now he/she has 9 open positions with a total dd around -500 pips. If I had monitored the trading style before adding this sp I probably could have avoided the loss.
So I strongly recommend to take a close look at the way how a sp trades as in my opinion this is the only way to find out if one feels comfortable with the trading style.
thanks for the detailed analysis!! I am also using them for two months now:)
what is your opinion of these ones: mybestsystems and gktrade? they climbed pretty fast to top 5…I also like gold signals such gold max fx and SuetGold, used to follow ADNAN ESSAM MALOMA but he can get pretty risky at some points.
MY BEST SYSTEMS looks quite good, but I didn’t select this sp because for my broker - AVA FX - a slippage of 2,57 is too much for an average profit of 6 pips/trade.
gktrades is also ok, but I rather prefer a sp with a winning percentage around 70-80%. Also, the monthly results are not really stable enough.
For the other sps - I simply haven’t tried out. And I’m probably not going to add any further sps. I will concentrate on my three sps who give me quite stable profits with little risk and will slowly increasy the number of trades allowed as well as the lot size. My calculation is that if within next year I can reach the milestone to accept 4-6 trades at a time with the full lot size these sps should generate me about $5000-6000 each month. I’d be fine with that.
well, if you want to make $5k-6K right from the beginning you probably need an initial deposit of $10k minimum, but you can also start with less and work up your way.
My calculation is as follows:
Each of my sps has a reported ca. -200 pips drawdown as the worst trade. With a standard lot opened I have to calculate a possible drawdown of -200 pips, being worth -$2 K. I also calculate the $500 I need to open a standard lot; so for each position with a standard lot I calculate $2,5 K that I need to have on my trading account.
My sps have a monthly return of about 200 pips each, so if I subtract the slippage of about 2 pips it should be possible to make 500-600 pips a month on average.
If you start with less you need to increase the lot size or the number of open positions allowed step by step, taking into account the calculation above. I don’t think there’s a high probability that trades will have a dd of up to -200 pips, but it can happen and you need to make sure you don’t receive a margin call. Of course you always have the possibility to adjust your account settings individually, e.g. setting a sl that fit you best.
Yes you are right slippage is an issue and obviously we are trying to minimize as much as possible. For that reason and that there is no commission with Zulutrade, I am with aaafx; however broker is a personal preference.
I am more of a risk - differentiate type of follower - the more the less riskier it gets…but I’ve noticed that also many followers stick to 4/5 profitable signals with good performance like forexfactor for example.
Hi
Just read ur choices i also use three of sps u mentioned additional David mariani is also giving good returns to me. Check his performance he usually opens trade 12hrs from forex cruise control so i usually have either fcc and hpf or David mariani and mv simultaneously open positions
honestly i don’t like zulutrade they have too much problem , slipage , no closed position properly and many more .becareful of using it .And AAA is actually zulutrade they are same company.
I agree but it’s the next best thing live traders good track records less positions less draw downs and two digit pips per position is what u look for.
So slippage becomes a small problem
Honesty i don’t know much about zulu and aaa as i am new and wanted to get a hang of live trading hence i started with zulu to learn trading patterns
I would be happy if someone helps me setup my independent account
Just waiting for dollar to depreciate a little to start investment in independent project
what exactly do you plan on doing? Setting up an account with Zulutrade and choose among signal providers or start live trading on the MT4 platform with your own account?
I have a couple of years of experience and am willing to help wherever I can. Just let me know.
Well, in this case I don’t think I can really help a lot. I guess for you the crucial point is to find good working EAs. If you have found them then they will do all the work for you.
Slippage is attributed and varies mainly among brokers and if you check the providers’ slippage bars you can see the difference. This is an broker issue and not Zulutrade’s - same stands for positions status. FYI you can see that aaafx is the broker with the lowest slippage on zulutrade.As far as I know AAAfx is a different entity - broker, that has special agreement to not require commission for the use of the auto-trading platform but this does not make them the same company.
well i don’t think that Zulutrade’s brokers offer any kind of vps…i know only alpari.ru give a pamm system. But why u need that since you are auto-trading as you said before?
No you don’t understand .
I want to auto trade,
As far as zulu goes you don’t require any vps. I follow my trades on android phone. Zulu has android app which allows me to check my account and trades.
You don’t have to leave your comp open nor do you require any vps.
The signals are directly wired to broker and hence the slippage.
I want to open a separate account for attaching eas as soon as i find good ones.
Smart fx looks good and even john and Robert are helpful. Any comments?
Ohh I see. I guess I was mixed up on the posts.
Regarding your slippage - maybe you should reconsider your broker - why don’t you check out aaafx - it’s the one with the lowest slippage among sps plus you it has no commission for using zulutrade.
Hey, fully agree. You need to even watch those SP’s that have a long track record. Imagine for instance that you started following some of the top ten providers in August this year: many of them have bombed. Alpha and oxygen, SharperTrader, Atlantic PiPs. A good filter is who is trading real money; but also, who has a great deal if followers?
Agree. We’re on AAAFX with both SP accounts and a follower account. It works pretty well. There were some critiques of them on forexfactory, but that was a while back and they seemed written by unsuccessful traders, which means the losses more likely were trade rather than broker-driven.
