4. What about.. Zulutrade

Dear fellow traders,

Last time I told about the positive and negative points of some of the brokers I have tried. Today I will write about my experience with Zulutrade.com.

Since last August I noticed Zulutrade, it al seemed very good and clear, as well as the trades because many people were following them with large amounts. I began with a demo account and started to follow the best traders there of course. 

So after one month I was very satisfied by the results I saw, I made a nice profit of €700,- on an account of €10.000,- so that is 7% (and that is a good reasonable result in forex!). After this, I opened my real account and started with an amount of €1500,-. 

But like always, one way or another, it always goes less good when you're actually doing it with real money, how this is possible, do not ask me, but it is. The result... it went down and down. Of course there are really some good traders out there, some traders make 32K pips profit in just a few weeks, but also lose the same amount or more in an ever smaller period of time.

First of all, I went out. It was my fault, as well as my brokers. This is because of the stop out that occurs there at 70%. And my mistake that I was just following to many traders. When you do this, there will be trades that are opposite of each other. So the one trader sell the eur/usd pair and the other one buys it. It wasn't really going anywhere. 

When you are considering in using Zulutrade, go in to the advanced mode, so you can get to your account setting, then go to your traders and make them fit into your profile. You can adjust your traders to sell or buy only trades of (forex)pairs. So they are not allowed to open trades to the up- or downside.

Than the second thing you have to keep in mind. There is sort of a virus on the top 5 trades at Zulutrade, when they finally reached that top 5 ranking they start to do really bad! It's most likely because they feel the pressure of the amount of people following them. So it's best to search traders that are fitting the best into your portfolio. 

Also keep a notice on the maximum drawdown they have had. I do not follow traders personally who have had a drawdown more as 12% because in my opinion, this is too much.

It's a shame that the demo account is only valid for one month, becouse you want to know if a trader has good results for more as just one month. That's one of the negative points.

Forex trading isn't easy, and like I heard before, it is "the hardest way to earn easy money"

Next time I will tell you some very useful sites you can use for information! If you need any further information about Zulu, just comment below. You can also help me to join with my affiliate link, it's also below. 

Have a nice day and weekend of course and till next time!

Vince Roestenburg

http://vincer.zulutrade.com