The problem I face often with providers in zulutrade is that most of them do not put stops in their trades, because they are willing to let a trade stay open until it goes positive again. This is why you should pick providers that trade their own money or ones that set stops. You can also set a custom stop yourself, but first test all this in a demo before going live.
Also watch if you choose a provider that has very high capital (more than $500k), as he can leave orders open, without an impact on his account, while your own account might hit margin call.
You should not rely on a robot to do the trading for you. There are very good signals in the market that if learned and used correctly can keep you profitable in the market. Price action is my thing and I suggest you get with it and and learn three high probability setups that will keep you profitable in the market.
True! I also avoid commercial EAs! The difference with zulu is that these providers are ārealā people. The EA you see next to the providers doesnt mean that hes using an EAā¦it means that hes trading using MT4ā¦i ve opened a signal provider in the past and connected my MT4 and got the EA logo next to my providers name while I wasnt using oneā¦
I hope this info is helpful for those new to Forex or ZuluTrade.
For the signal provider I use on ZuluTrade it says āThis provider is trading his own money on ZuluTrade.ā If you look at all his (Fly On The Wall") usernames and add up how much money he made so far in all his accounts combined it is over 200,000,000,000 (over 200 Billion dollars). (You can find all his usernames at the bottom of his stats).
I opened a new demo account with ZuluTrade because my old one expired after 30 days.
The ZuluTrade demo accounts are automatically funded with $50,000 virtual money. You can test signal providers in them.
This time I chose āFly On The Wallā as well as two other names/accounts he is known by (āPIP EMPORIUMā and āCURRENCY CHANGERSā), and I also chose someone called āSIMPLE-MONEY2ā who has no losses, and trades mostly EUR/USD, but sometimes other currencies.
Between the 4 of them my demo account has already almost gained $4000 (at about $10 - $12 per pip depending upon the currency pair) in 4 days. (I signed up for the demo a week ago, but did not start using the demo until the 29th of August. It is now September 1st, 2010 at the time I am writing this and my demo account is almost at $54,000).
I am now trading in a live account, but it is funded with a very small deposit and therefore canāt handle $10 per pips, or several signal providers opening trades at the same time, even though they produce winning trades. Even only 5 trades opened that are all in the -10 pip range can easily trigger a margin call in a small account if I am using $10 per pip (1 standard lot, or 100 micro lots).
I can use $1 per pip, but that takes so long to build up into a steady monthly income to live off of.
If you are fortunate enough to have thousands or several hundred thousands of dollars sitting in your savings account doing nothing, you can always deposit a small fraction of it into a ZuluTrade/Forex broker account, choose your favorite signal providers in the ZuluTrade system, and allow them to multiple your deposit over the coming months.
Keep in mind there are always risks involved - even for the best traders with a 100% or almost 100% winning trade records. Sometimes the market has strange spikes up or down that can move thousands of pips in an instant and set off margin calls and just about wipe out accounts without stop losses across the globe.
When you choose a provider in ZuluTrade you can choose your own stop loss and take profit. Some signal providers have a stop loss of 500 pips, but that is too much for a small account un less you are trading a penny per pip. If you have a large deposit then you are safe.
Finally, always log into your ZuluTrade account daily when you get a chance, and be sure trades are not running when they should have been closed. What I mean is, your signal provider may have opened a trade for you, gained pips, and closed the trade in his account hours ago. But sometimes yours might still be running. This is why I always log in and check my account when I get a chance.
You can click your signal providers āopened tradesā tab and if all his trades are closed, but one of yours (that he initially opened) is still opened, you should close it unless it is too late and it is in negative pips and you hope it will make it back to +pips.
I donāt think this happens that often, and if you were to lose money over it, your ZuluTrade broker might refund you if it was a glitch in the ZuluTrade system and not a fault of your own. But I donāt know for certain. It is best to monitor your trades.
Hello. Iām live (and happy) with ZuluTrade since last April, and I wish to get in touch with other users to exchange winning strategies. To get my ZuluTrade Advanced Settings, just send me a private messageā¦ 
Can you just share your settings here?
Anyway I am happy with ZuluTrade too. But since the demo account has a huge deposit ($50,000) it can handle several hundred -pips in the wrong direction.
For example, the providers I chose have 100% winning trades. But recently they chose to sell (go bearish) GBP/JPY just as it was beginning to go the opposite way (bullish).
Since the providers have huge accounts it did not matter that there would be a bullish move in a couple hundred pips (-pips for them) the next few days, because GBP/JPY was eventually bound to go bearish - which it did last night, and they produced winning trades in the end.
But this was only after almost 200 pips in the wrong direction before turning and finially going bearish and crossing over their initial sell order.
My demo account handled this, and now has accumulated almost $7000 in 8 days because of the large deposit.
But had I allowed these trades to open in my live account it would have been two risky since I have a small deposit.
It would have survived at $1 a pip, but still, I just did not know and didnāt want to take chances.
You are lucky if you can start with a large initial deposit.
The %winning trades doesnt always tell the truth about a providerā¦its a typical exploit of this figure to leave trades open and close them only when they turn positive so winning trades look 100%. For example the no1 provider has around 75% winning trades.
To deal with this, you can choose a provider that trades his own money, look the average trade time to be less than 10hrs and also not choose providers with huge capital, as their (virtual) account can withstand a large DD, while yours cant.
It also depends on the risk you are willing to take. I for example do not use more than 4 trades at the same time and 9/10 times I have no problem.
Even a $500 micro account can handle 3 trades that go bad (around -200 pips each).
For those wondering whats gonna happen with new CFTC rule and zulu accounts, I emailed them and they said it doesnt affect them. They will only change the leverage to US broker accounts, the rest offshore broker accounts will remain the same.
Good move IMO
Look at how many followers fly on the wall has! More than 7000 I think its a record! And $14million! I have him on my live as well and im very pleased with the results, I wish he was trading more often though
[B]FLY ON THE WALL[/B] has been trading excellently so far ā 100% of wins; everybody is happy. BUT we should not forget that he doesnāt give a [B]STOPLOSS[/B], so you have to put it yourself. And you are going to put it according to the Worst Trade, which, in its own turn, doesnāt guarantee that one fine day the rate will fall even lower than the Worst Trade value at the moment. And then, the provider will just hold its position and wait for the trend to turn around. But you, at the least, will have a [B]STOPLOSS[/B], and if you only added this very provider with the maximum deposit load and put the [B]STOPLOSS[/B], basing on the previous slumps, then you are going to have a [B]Margin Call[/B]. Thatās the reality.
Donāt forget that the quotes may fall as much as no provider can have ever seen in the worst dream. Take the recent GBP/JPY fall alone, when the rate fell to its 15-year minimum, and 90% of the providers went down by thousands of pips of a drowdown! Imagine what can happen to [B]FLY ON THE WALL[/B] if the situation recurs, and it will certainly recur.
This is exactly the situation that we are watching now: [B]PIP EMPORIUM[/B], [B]GBP FUND[/B], and [B]FLY ON THE WALL[/B] have gone far in the red and are holding their positions. Lots of followers have already managed to blow up everything they had earned. And the so much loved [B]100% winning trade[/B] closed the positions at ā2,000 pips! So come to your right conclusions!
So either add a provider trading different pairs or select several providers trading different pairs. Only in this case, you can use the deposit in the optimal way and donāt have to be afraid of the [B]Margin Call[/B].
I agree. In fact, I think Fly On The Wall and Pip Emporium are at their all time worse -pips. But since they have huge accounts they can let it run until the market eventually goes long.
My ZuluTrade demo has 1 day left.
For the entire month I let Fly On The Wall, Pip Emporium and Currency Changers (all the same person) trade my demo.
My demo was nearing a $15,000 gain for the monthā¦until Pip Emporium chose buy orders when it was not safe to do soā¦the rest is history.
Then Fly On The Wall jumped in and chose buy ordersā¦
And now my demo is down to $40,000 - about a $25,000 loss.
I did not stop anything since it is only a demo.
I am not currently trading ZuluTrade live.
I have nowhere near the capital to use 1 lot in a live account.
I am stuck using 10 cents and $1 per pip in my live account.
I am by no means saying this is true, but do providers in the Zulutrade network somehow benefit from ZuluTrade if they succeed in wiping out other peoples accounts even though they themselves might have 100% winning trades?
For example, if a provider is a millionaire or even a billionaire, or a bank in disguise, do they, at times, purposly choose to trade in the wrong direction in order to cause several accounts to suffer large losses, and trigger stop losses, and margins calls? But they themselves are not affected since they have massive accounts and can maintain an appearance of 100% wins only because of their huge capital (like banks which do market manipulation in order to hit stop losses, wipe out accounts, and cause margin calls in the little guys).
So I was just wondering if some big time Zulutrade providers are banks in disguise that are there to gain your trust, and then wipe out your account when you least expect it by purposly choosing to trade in the wrong direction?
Not saying any of this is true. I just think about it sometimes.
I think the best way to use fly on the wall and his rest providers, is with only 1 open position at a time, max 3lots per position. I ve done this to my account, so even if I close this trade, ill only loose like 200pips, which is easily recoverable in a few weeks time.
I agree to set your account to trade different pairs. I dont want to excuse fly on the wall, but I doint think many expected the GBP/JPY to reach THAT low and I dont expect it to recover the next week eitherā¦damn brits lol
actually its not free 
It doesnāt give a stop loss?
Is this some kind of joke?
Yeah not setting a stop or limit isā¦failā¦he may be constantly monitoring his positions this is the only explanation I can giveā¦His recent failure has cost me around 250 pips, think Ill leave this position open for a few days to see what happens, after that I think ill remove him :mad:
I think you should remove him now.
Yeah but the damn GBP is starting to rally up and the 2 positions are almost positive nowā¦
But even if things turn out good, it was still risky man.
Mo matter how risky provider is. Just use correct SL and You will get profit only
I dont know what to say about this guy, the market turned after all and I closed my 2 trades with only -12 pips loss (from -250). Did he actually know that this would happen? Im gonna keep him, but with only 1 position open and 1 micro lot, just out of curiosity