Hi,
I am new to this forum , started to look in to FOREX half a year ago and have read a lot last few months. I liked the zulutrade follower academy at forexsocialtraders.com very much as starting point. I gave me a good overview and, as a start, a good idea what I was up to.
I was especially triggered in "a lot of people lose lots of money on Zulutrade because the don’t know what they are doing [B]and[/B] especially because of greed and wanting to make lots of quick money
My intension is to no be part of those 
I now understand that becoming a succesful trader will takes years and years with lots of up and downs. I like the way Eddy Mo on this forum is looking at forex and came to the same conclusion, I don’t have the skills and time to become a trader myself for years so I decided to get into Zulutrade.
At first eTORO but eTORO is, for me, a bity too much “trust me, give me your money and I will make profit”. I opened a demo account and lost 30% in 4 weeks. And still I don’t know what I did wrong besides choosing the wrong SP’s? But they where the top ranked, where advised by the eTORO guru’s as good traders, made good profit and so.
After that a few zulutrade demo accounts. The first was barely profitable but, after understanding zulutraders better and better, getting better money mngement (but good enough or still too much luck…) the second was 5% a month and the third 12%.
I have chosen SP’s with low NME (beside tianxiahui88), running for more than half a year, checking trading history for strange behaviour, checking if followers of the SP made money or loose, looking at the SP’s the most profitable followers have chosen and so on.
[U]But I still have the feeling I don’t understand the risk completly.[/U] Yes, I read about the 2%, margin levels, leverage, zulugarde, setting the risk meter and risk weight on individual traders.
Also there is max number of open trades so, with above, I can limit the total amount of open lots.
I don’t change trades, no SL or TP.
The biggest concern for me , and no answer for myself yet, is “how to prevent chosing a trader who has been good for a year and suddenly changes tactics and loosing a lot”
Is it zulugarde? Let zulugarde advise the capital protection and/or single trade protection? If I do that (€10.000 account, leverage 1:25 risk meter 72%) it comes up with numbers like this:
[B]tianxiahui98 [/B]
capital : €4041
single trade: 391 pips
[B]newwave:[/B]
capital: €3081
single trade 227
arda1998:
capital: €728
single trade: 443
So , in theory, if tianxiahui98 would become a gambler (like too many on zulu for what I see…) it will cost me max €4041
Of course I can set capital protection and single trade myself to a lower numbers, is this the trick? Just setting numbers I feel comfortable with? But, question, what if I set them too low or lower than zulugarde recommends? Positions are closed too early?
[B]question 1:[/B]
Have I done all what I could to have good money management? And, for that, did I adress all the possible risks and acted on it?
I am at the point of opening a live account with AAAFX (€10.000) with the idea of making a profit of 2-5% a month (so avoiding the 50-100% SP’s) because 5 years 2-5% a month starting with €10.000 will be somewhere between €30.000 and 100.000.
I want to learn the next 6 month with the €10.000 and, if everything goes like I would expect, put another €15.000 on it.
My suspicion is that I think “isn’t this too good to be true? Where is the catch?”
[B]Question 2:[/B]
Any comment? Advice, suggestions, tips or even “you are a fool”
I am prepared to pay learning money with the first €10.000 (50%) and I do understand that the odds can be against me!
Thanks for commenting!
