I’ve been playing around with zulu for awhile and I think the best thing for a person who is new to forex is to watch other peoples mistakes first. Get a demo account of course and watch these traders and tell yourself what they did wrong. Kind of interesting and a valuable lesson when you know they are raging or not or just playing stupid because they are on demo. Since there are a lot more losers on zulu than winners you can sort through the losers pretty easily and then go compare to some of the better traders both in zulu and from PA signals.
When I first started I was using minimum of 50 running weeks, max 50% drawdown, max drawdown pips to 400, best trade > worst trade and that usually comes up with quite a few. I like to make “sections” which I don’t know if you can group traders in differing folders to keep track but in my mind I’ve been making sections for these traders based on how I feel they are with risk. I also just scan randoms and see what they might be thinking, as well as the top traders which obviously may be risky due to the fact they want to let it ride so they get a higher percentage winning.
I find zulutrade a very useful tool so that you can learn from these people. I assume finding good quality traders is almost as hard as finding good quality trades. I’m the type of person who likes to learn what not to do before I do something, for example when I work on my vehicles I go to the forums for the vehicle and I look up “jobs gone wrong” so I know when I want to pull this clutch out of this car I know what not to do first.
Some of the traders I have on follow currently are T.C.Y., Newwave, New Lexus (lol), fenix7, calipsofx, and AZ eurusd.
Wow thanks for sharing mate!! That’s quiite a list of signal providers there! I will be deffinitely checking them out . You gave me work to test for the nest week at least!
I saw that, and I was going to review the weekend some of these traders since I’ve been pretty busy. Newwave really took a dive so I’d like to analyze what went wrong there. I should have named this thread thoughts on learning how to trade using Zulu. I just use zulu as a supplement to my demo account trading on mt4. Any notable traders you are studying eddy?
Sure go ahead and review them. I hope whoever you are following actually has zuluguard on them.
Not really -at the moment I am also researching and testing…
Sorry I haven’t been around to tell about my experiences just viewing zulu. I was for awhile but then I focused more on my own strategies. My idea was to see the losing traders and how they react and it was successful in showing me how not to react to the market with drawdowns. My problem with this is that I can’t tell if the demo traders in zulu are just drawing down because they can or if they are psychologically reacting to the loss hoping to gain their money back. I also viewed some successful traders and they have one thing in common, they know not to change their stops unless a good price action indicator shows them that they should, and they also have solid exit strategies that allow them to take profit without over analyzing their wins and hoping for a higher return.
They draw down just because they can - it benefits them. All they care about is % ROI. It’s no skin off their backs to hold onto losing trades until they turn into winners, because most of them are using a demo account or small live account and only care about commission from followers. I’m sure most of them understand proper risk management, however they choose not to implement it in order to exploit the crowd psychology. The traders with the highest % ROI usually end up with the most followers, so that is all they care about.
By letting their losers run they increase short-term profitability in exchange for long-term viability. The traders know they’re going to get margin called and go bust eventually. When that happens they lose none (or very little) of their own capital. A few days later and they’re back on Zulu or another site with a different alias, starting the cycle again.
Well I am sorry but first of all drawdown is inevitable when it comes to Forex you have to be sure that the positions are protected with the zuluguard, or with the offsetpips or trailing stops there are there. there are so many different ways to protect your account and make enough money in this forex following business.
Understandable Eddy. I wasn’t arguing there is no one that has drawdowns in forex. My plan wasn’t to invest in zulu at all, I’d rather trade my own money with my own strategy. That’s just me. I was just trying to use Zulu to read the psych of the traders who are involved. You can protect your account in zulu it seems, but actually gaining useful information from this instead of say a signal service provider who is well known or learning based on your own style doesn’t seem as easy. You have to admit there are a lot of traders on Zulu who just mess around trying to get their win percentages up while in a real scenario they would have gone bust.
I see. you are looking into understanding the trading psychology - the thing is that the zulutrade community does not actually aim at that type of info, more like - can he trade - yes, can I make money out of it - yes. End of Discussion. Simple as that. However, the % is their real scenario case - we see the stats and what can be actually achieved. And then follow or not. There are so many traders, with so many different strategies that we can follow - and there are always some that are winning at the moment that you get to follow until the trend is profitable,
Good luck in your manual trading!
