How To Be Profitable Following Traders On Zulutrade?

I have came across questions such as how to be a profitable follower on Zulutrade, has anyone made money on Zulutrade, why followers lose money and other similar questions, can be found online and even in Zulutrade forum.

This is a priceless question and this is what I have to share.

  1. Right Signal Provider to follow.
  2. What you should be doing.

Picking the signal provider can be quite tedious if you really want to screen out the good from the bad. I believe many followers on Zulutrade do not even do proper screening and just go with the top few to test out their luck.

To be a profitable follower on Zulutrade, you cannot be doing such things because you are not buying lottery. Picking some to test out your luck and see how it runs.

I will not elaborate on how some of the traders are providing signals on Zulutrade because I have written extensively on those topics previously and they can be found at tips for finding the best signal provider on Zulutrade.

Some basic rules to follow to be a Profitable Follower on Zulutrade

  1. Picking the right signal provider to follow. Please Do Proper Screening. I cannot emphasize this enough to bring the message across.
  1. Be very consistent. Don’t just follow a Signal provider, SP just because he is profitable and you jump on the bandwagon for a few trades.

When the SP you are following is not profitable, you switch and look for the next trending profitable SP. Every traders have their ups and downs and may go through some consecutive losses in a row. That’s the drawdown.

However You Cannot expect all their trades to be profitable, it’s not possible. In fact Zulutrade will also be flashing warnings if a trader has 100% profit!

Some SP trade with low TP target and high SL so that they can afford to keep their losing trades open and only close those that are in profit or even use Martingale system to trade, adding onto losing trades to average out.

Do you have enough stamina (in your case, your hard earned money) to stay with them? If you don’t chances are you will get hit with a margin call and all your trades will be forced closed by your broker.

  1. Be consistent with your trading lot size. I have seen followers who start small and then increase their lot size 10x after a few winning runs. Or starting big and then reducing their size when hit with some losses.

Changing lot size all the time trying to achieve maximum win and minimum loss is a formula for disaster. You never know when your SP trade is going to be met with a loss or consecutive losses.

Be Profitable On Zulutrade Today

To Summarize How To Be A Profitable Follower On Zulutrade

Do your homework. To be successful takes time and doesn’t happen overnight. This is an investment on your part, do a little research and it will be well worth the time spent. Don’t expect someone else to do it for you.

Once your gain have managed to achieve some sorts of consistency, then you can easily increase your gains compounding your profits by taking bigger trades.

How my article here is helpful to those who are planning to be a profitable follower on Zulutrade.

Good luck and safe picks!

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Zulutrade Review by FXSignalFactory

Welcome to my Zulutrade review and I hope this independent review will help you decide if it’s worthwhile investing in following signal providers on Zulutrade.

Zulutrade has been around since 2007 and acts as a bridge for investors to follow signal providers across various brokers. It is meant for traders to share their trading strategies, at the same time, their trades can be audited by anyone since all trades are shown to all since the day they started trading.

They gives investors/followers access to a big range of Forex trading strategies where investors can pick, customize and balance their own portfolio based on the signal providers they have picked to follow.

Another important point you want to take note is, signal providers are compensated by Zulutrade for providing the trades for investors to follow. However, these signal providers are only compensated if they produce positive monthly returns which in return will spur these traders to perform well rather than just churning their trading account for the sake of getting paid a commission.

Of course these commission payable comes from you, the follower. If you are asking why should you be paying, it’s the same as you paying a fee to a fund manager for doing the investment for you. If you are not comfortable with this arrangement, then you shouldn’t be looking at Zulutrade or any other platforms that allows you to copy the traders. Period.

 

Pros of Zulutrade

  • A form of automated trading where other traders do the work and you reap the profit if you have selected the right ones to
    follow.
  • Free and fully functional demo but restricted to one month usage that can hamper long term testing
  • No need for vps service or having to turn on your computer 24/5
  • They rank the traders according to their trading history from day one when they have their account linked. All kind of
    information are available to a point where you may feel like it’s information overload.
  • It is highly user configurable. You can set your risks, number of trades that you would like to copy.
  • Many choice of brokers (more than 40 at this point of writing) that you can choose from if you don’t want to use AAAFx, a
    broker that they are directly integrated with.
  • You can open your account in different base country currency available, USD, JPY, EUR, GBP and AUD.

 

Cons of Zulutrade

  • Anyone can sign up as a signal provider but it’s not that easy to get oneself to move up the rank because it’s very competitive and everyone is also trying to get to the top spots so they can be followed. You could end up not following an experienced trader for all you know
  • There are many signal providers there using demo account to trade and send signals. You have been WARNED! Some of their trading strategies are questionable but again, you have to screen them out
  • The large number of signal providers with different strategies can make it difficult for you to pick the right mix to generate consistent profit.
  • Slippage can be a problem at times due to lag between ZuluTrade.com and the broker that you have selected to trade with and the broker that your signal provider is using.
  • Risk and money management is a little complicated and can overwhelm beginners.

 

Can You Make Money With Zulutrade?

Yes if you are really thorough with your homework and really picky about who you choose to follow. As mentioned earlier, if you pick the wrong mix of signal providers with the wrong strategies with high drawdown, you could end up with a big loss.

It may take time to screen out the good from the bad out of the many traders there. Believe me, the time taken to explore and  demo trade till you find the right ones is worth the time. Starting with a small amount that you can afford to lose without losing sleep when you go from demo to live would be a good way to start.

You can go to this article for tips for finding the best signal providers on Zulutrade

 

So Should You Invest In Zulutrade.

Overall, they have a good user interface on their platform with many features for you to properly manage your own investment with low ongoing cost. With the right approach towards this type of trading can be very rewarding.
However, this type of trading may not be your normal cup of tea and may not be suitable for everyone.

Hope my Zulutrade review helps you in making your decision. No right or wrong, just feel good about your choice.

Good Luck and Safe Trading!

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 Zulutrade Vs Etoro Comparison Chart

Here is a summarized Zulutrade vs eToro comparison chart for those of you who are considering investing in following traders on these 2 platform.

Zulutrade and eToro are among the pioneers of social trading and are perhaps still the 2 most popular out there today. The quality of traders or signal providers on both platforms are diverse, both are unique and have their own pros and cons and both of them as with all type of investments, come with their risk.

For those of you who are thinking of giving this a try, I strongly suggest that you start of with a demo first and get the hang of things and checking out how things work first before you invest any of your money.

 eToroZulutrade
Signing UpEasy to sign up and they allow only one demo per email onlyEasy and free to join, 30 days demo validity
Live AccounteToro is the only broker hereZulutrade own broker is AAAFx but you are not obligated to use them. They have many brokers that you can choose from or maybe already using that you can use to link up.
Cost and Commission ChargeseToro is a broker and you are charged for trading the spread. You will be paying the same spread regardless if you are entering a manual trade on your own or if you are using their copytrade serviceZulutrade provides the bridge for you to follow other signal providers across various brokers and charges a fee for this bridging service through your broker. Charges is typically 1 pip in addition to the spread charged by your broker. Spread varies according to your broker for the currency pair that you are following.
Trader’s trading historyOnly the past 100 trades are available.Each signal provider full trading history from the day they start is available in ZuluTrade interface.
Lot sizeNot much of control when it comes to lot size. You copy the trader not only in their trades but also the size as part of a portfolio.Very flexible with many features. You can set the lot size, limit the number of trades to open, which currency pair that you want to follow
Risk ManagementYou can assign the amount of money and only invest up to a maximum 20% of your total account size to follow a single trader. However, your risk per trade is in the control of the trader that you choose to follow.You need some knowledge of lot size management and in total control. You decide how big the lot size, number of trades to open at the same time when following and which currency pair you would like to follow.
Performance of traders/signal providerTraders on eToro trade with their own money so you can be somewhat assured that they are careful about how they trade (doesn’t apply to all traders)Signal providers on Zulutrade can use demo accounts and EAs to send their signals thus tend to be riskier since it’s not their money and hence no risk to them.
Risk and RewardGain and loses are limited because you can only allocate a maximum 20% of your account to follow any single trader.Can expect exceptional gains and losses too as you are willing to and understand the risks you are taking by following the signal providers here.
Tools For Checking On TradersOnly available for VIP. Not very transparentSimulation tools available for you to back test on the signal providers based on their historical data.
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