Zulutrade anyone?

phantom
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Joined: Thu Feb 23, 2012 2:16 pm

Zulutrade anyone?

Post by phantom »

Do any of you trade in platform called zulutrade? Do they have good signal providers there? I heard of FCC who is number 1 for a long time.
blahn
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Joined: Wed Nov 30, 2011 2:39 am

Re: Zulutrade anyone?

Post by blahn »

Don't do it. I tested zulutrade out for about 6 or 7 months. the allure of having someone trade for you is great. once you browse their profiles, and see someone with 70-90 percent success rates, it's easy to see dollar signs in your head.. :) and this goes for all the signal rental sites on the web. anyways, i tested out every single top provider on zulu trying to find the perfect combination. I made alot, then lost alot, then made alot, then lost alot. the ones who claim 100 percent accuracy are great for a while until they completely blow up and you lose 8000 pips. the ones who have 70-80 percent accuracy like fcc have the same problem, they do good for a while, sometimes a very long time, but they still blow up and you lose half a year of profit since they are only grabbing 10 pips(each position) a time while winning but can lose 200 pips(each position) when they bomb. Moral of the story, you'll have better luck dedicating your time to improve your own trading than watching self proclaimed pros trade for you.
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viracoccha
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Re: Zulutrade anyone?

Post by viracoccha »

one of my friend tried that do and basically - it dont worked, he dont lost but dont get any profit either
phantom
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Re: Zulutrade anyone?

Post by phantom »

blahn so you saying that it is working , you just have to change your portfolio of providers when the explosion is near right? As i know you just cant win every time in forex.
Viracoccha how long your friend traded in zulu?
Capsmart you seem to get nice income in short time , how long are you trading in there? Is it just a month?
blahn
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Re: Zulutrade anyone?

Post by blahn »

Personally I would say no. You really can't tell who is trustworthy. I did it for 7 months, and used every top provider on zulutrade. it's impossible to tell which provider is going to win, lose, skyrocket, or dive bomb. I made almost 20 percent to my account the first month following providers who had 90 percent plus wins for a year straight. but then it all went away when the market changed and their eas traded the wrong direction. so after losing the 20 percent plus another 10 of starting equity in just a couple days, i decided to switch to the safe providers on zulu, like fcc and others that have live money accts. so that went much slower, but i made back the 10 percent of my original equity over the next few months(ironically alot of it was manual trades i setup). then, of course, every safe provider i was following had their bad days and i lost almost 8 percent. Sure, it's possible to make money there, but you have to know forex well enough to know if they are making bad decisions, and get out in time. So instead of staying with zulu and trying to micromanage the decisions of signal providers, i closed that account and dedicated time to improving my own trades. I may not be where i want yet, but it feels a heck of a lot better than waking up one morning to see a "safe" provider who let 5 positions go down to -1000 pips when all they were going to win was around 80 pips.
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SteveHopwood
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Re: Zulutrade anyone?

Post by SteveHopwood »

Looks like I had a lucky escape. I could not even work out what zulu was actually about, and so never risked any live money.

There is a basic message here guys. If you do not understand the trading system, then do not allow the purveyors of the system access to your cash, or do not slavishly copy their trades/use their EA in the hope of effortlessly making money.

Every single successful trader contributing to any trading forum anywhere in the multiverse understands this simple, unavoidable, inalienable fact: you cannot make money trading Forex with s system or EA that you do not understand.

There really, really is no such thingy as a Forex free lunch. If there were, I would already have coded it. Successful traders are sucessful because they worked to become successful. And worked. And worked. And worked.....................

:D
Read the effing manual, ok?

Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Thomas (tomele) for all the incredible work he does here.
phantom
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Joined: Thu Feb 23, 2012 2:16 pm

Re: Zulutrade anyone?

Post by phantom »

Thank you guys for your feedback . I will experiment with my demo account for now and if i see hope on the horizon i will try my luck with real money.
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TehCount
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Location: East Coast, USA

Re: Zulutrade anyone?

Post by TehCount »

No free lunch indeed. I know because I've lost more money than all of you put together on ZuluTrade. Just remember that most of the signal providers in the "Top 100" blow up sooner or later. Count on it. Don't think because somebody has 12 months of straight profits, that they will have a 13th month of profit. That's what I thought, until my accounts blew up. You can avoid the nightmare I went through by being extra careful, testing with demo accounts for many months before risking any money, and understanding how the systems work (and therefore which ones are likely to lose months or even years worth of gains in only a few trades).
garyfritz

Re: Zulutrade anyone?

Post by garyfritz »

...and spread your money across multiple traders, so any one of them can't blow up your whole account.

I wouldn't go anywhere near a system that shows a straight-line equity curve. That's just about guaranteed to be a martingale, and a martingale WILL blow up sooner or later. With my luck, generally about 3 days after I start trading it...
garyfritz

Re: Zulutrade anyone?

Post by garyfritz »

Look at FCC's equity curve:
FCC.gif
That's practically a straight line. More critically, any time there is a significant loss, it is ALWAYS instantly followed by an equal-size win that brings the equity right back up to where it was before. That's a Martingale.

EDIT: I think I was mistaken. I looked closer at his record, and his trades are ALL 0.1 lot. No increase in size after a loss. Ever. (Well, there were 2 1.0-lot trades out of 670, but he only held them for 1.6 pips.)

For example he took a deep drawdown on 12/21/11. By 12/26 his equity curve says he was just about out of the drawdown. There were no larger or extra trades put on during that time that I can see. In fact I don't see how he pulled out of it by 12/26. His trade listing says he was flat after 12/16, lost 104.5 pips by the time he went flat on 12/23, and didn't open up any new positions until 1/5/12. So how does his equity curve show him near a new equity high on 12/26 !? Something is screwy there. I extracted the "pips won" from his trade listing, and according to those numbers, he didn't start to dig out of his 12/21 drawdown until January! That's sure not what the equity curve on the website shows! Compare the "extracted" numbers to the "published equity curve:"
FCC2.gif
FCC3.gif
And he was flat from 12/13/11 to 1/05/12, so this isn't a case of "open positions affecting the equity curve."

But assuming the equity curve is mostly accurate... I don't know how he manages to come up with a "rescue" trade after every loss, and why he doesn't just do that all the time, but that seems to be what he's doing. It LOOKS like a Martingale equity curve but I guess it isn't. He must be quite a trader.
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