Zulutrade allows 20 or 30 lots open for SP, I think is too risky. You have to watch your money management if you running multiple SP on single trading account
Yes it might get risky if the traders doesnt know what he’s doing. However, you have the whole history to see that and decide to follow or not. Plus, you may decide to follow only with 5 trades per SP - then you get their first 5 trades only - simple as that. they are trades that use this strategy and use it successfully and there are other that dont. Has nothing to do with the platform. Account management is a must in either way.
I think you are not completely right, pay attention for provider that open multiple trades on the same cross at few pips of distance. This is not good money management, they act so because not their money are involved, if they are no gambler they will became one day or another commission hunter. If you consider that top SPs can get almost 1000$ per trades you understand why sometimes you find two or more trades almost identical. The most important things to evaluate are:
Low DD
ROI
Max open trades same currency, this only if you see a ridiculous difference of pips among trades.
An example is trade often, he opened 30 pips and got about 10000 pips in more than one year, now he is facing a DD of about 9000 pips. Those strategies simply don’t work. I pay attention on traders who add to winning positions not to losing positions.
I franky lost you there. Can you give me a specific name of a SP that actually does this? this way ill have visuals in exactly what you are talking about.
I share my team in the topic called “zulutrade: share your team!”.
I love Zulu trade, it is an awesome piece of kit, the only problem is that the brokers spread is widened when you use it and of course my favourite broker is not listed with them yet.
Try thinkforex I get the same results of my providers. Low spreads and fast execution, aaafx is scam! There are hundreds of traders who have had troubles
I use aaafx and have not experienced any problem - either in terms of slippage or trade execution.
There is a reason why it is so popular among the zulu-community 
My broker is IC Markets (True ECN Account). Form my research they have the best EUR/USD spreads in the market, thats why I think they will work well with Zulu…
Anyway I will keep asking them.
.
How much are the spreads on majors for example?
Here is an update of this week’s performance (and cumulative todate)…
Before I begin I’d just to like add that I am making mistakes, i.e. that my strategy on Zulu is evolving as I learn and try to adapt from the mistakes that I’ve made…
My point is that the reason for this thread is to pass on what I’ve learnt so that you can avoid the same mistakes - it also keeps ClarkFX entertained and hell what’s wrong with that.
24th +$0 float -$300 float looks very discouraging long eur/usd 2x long trades going the wrong way
Cumulative +$842 *Bal $3,167 * * +37% (open bal $2,325 11th Jun)
25th -$93 float -$475 float’s getting worse - looks very discouraging long eur/usd 2x long trades going the wrong way
Cumulative +$749 *Bal $3,074 * * +32% (open bal $2,325 11th Jun)
26th -$637 float -$0 Float came home to roost !
Cumulative +$112 *Bal $2,436 * * +5% (open bal $2,325 11th Jun)
Ok - so this week so far hasn’t panned out so well… reason for the large loss was very similar (though not on the same scale) as what happened to fx-cruise and co-fx - i.e. the one trader averaged into a position with 5 trades, i.e. as the trade got worse they entered more trades in the same direction.
I had limited my exposure by only allowing 2 trades with a SL of 150 of each but that does not prevent 2 trades from hitting the 150 if the trader is going to average with 5 trades and just let them role, which they are still doing.
So - lesson 1. is to completely avoid traders that average into positions since there is no strategy to avoid their potential large losses. My other traders will put in stops well before they reach my 150 because they do not average.
Lesson 2. I’ve also reduced my lot size to 0.1 (1 pip = $1) so my exposure is not 15% of balance.
All traders are on:
- 0.1 lot size (1 pip = $1) with max 0.2 per trader
- SL of 150
The traders I’m using are:
yf68
yamatofx2vera
Yamato FX ver.A
TradeGuru
denganyouqianle
BigTen4EX
Will keep you posted on results going forward and further lessons learnt - clearly no guarantee Zulu will workout.
Sean
Very interesting thread meseany , keep us updated with your performance in zulutrade.
meseany, thank you for the detailed analyisis:)
what about number of open trades? how many do you allow?
Hi Eddy,
I’m limiting mine to 2 but please be aware that:
There are 2 ways of controlling the number of trades in play:
-
To state number per currency - but this can lead to more than 2 in total - e.g. 2 @ eur/usd and 1 @ usd/jpy
-
To state max open lots which I have set to 2x my lot allocation size. This is a far more controlled way and will only allow a max of 2 trades no matter what currency etc etc
My lot size is 0.1 std (1 pip = $1) so my max open lots = 0.2 Clearly should your balance increase and you increase your lot size just make sure to increase your max open lots to 2x your lot size.
Regards,
Sean
meseany, 2 trades per SP is not enough. Your margin o meter must be like 10% risk.
Limiting it like this, you get only two trades consequitively that the trader oppens and then nothing.
Eddy,
My margin o meter is 200% - 7 traders at 2 trades each with a $1 per pip on a $2,400 balance is plenty.
Im limiting the number of trades to prevent averaging - 2 is plenty - why do you think 2 is not enough - scalping on one or maybe 2 currencies at a time only needs 2 to be open. If you’re looking at traders like FxTraderX who opens up to 6 at a time on the one or 2 currencies then you’re increasing your risk which Im trying to manage.
Sean
Sean,
in this sense and settings that you put it I cannot but agree with your account management 
appologies lost track of the number of SPs, for some reason thought they were only two out of the initial 7 stated.
Keep on doing the good work!
Eddy
Zulutrade also have the margin meter, auto mode and the backtest results. Good tools to use.
I haven’t really come across Zulutrader is it a type of EA?
Nope its not an ea , its a platform where you select traders to trade for you in forex market. Your selection could be based on zulu ranking , or by manualy searching with your personal criteria. Zulutrade hosts thousands of signal providers and some of them do use EA’s for trading. Just try their demo account and play with virtual money to better understand what zulutrade is.