ZuluTrade is a free automated forex trading service that allows you to trade the signals of thousands of different signal providers. Once you’ve chosen your providers, the signals are then executed automatically in your forex broker’s account. Free demo accounts of ZuluTrade are available for testing purposes.
In this article, one of the winning forex strategies using ZuluTrade will be explained step by step. This method is not for instant big income but for long-term success by risk management.
Step 1. How to search good signal providers
In the website of ZuluTrade, there is “PERFORMANCE” section that shows list of signal providers. On top right of the page, it shows “Show advanced search”. Just click it. Then, Advanced search screen appears.
Following is the detailed setting for the advanced search to find good signals.
have live traders subscribed – “Check”
Running weeks – Input “12 – 300”
Max DD % – Input “0% – 30%”
Win % – Input “75% – 99%”
Profitable Account – “Select”
Worst Trade – Input “To 300”
Followers – Input “From 100”
for a period of (months) – “12m”
For other factors, leave them as default.
With the above setting, click “Search”. Then, the providers list will be renewed with signals that match with above advanced search conditions.
Step 2. Selection of signal providers
In the advanced search result, click name of signals to show the detailed performance data. There are some check points as follows.
2-1. Profit graph
If Profit graph on the right does not show constant growth, do not select the provider.
2-2. “This signal provider is also known as” section
Below the Statistics, it shows “This signal provider is also known as : ” if the provider has different signals. If there is “Bomb” mark on other signals, do not select this signal provider because there is a high risk of blown up. In case a signal you already selected is listed here, you should not select both at the same time because the same trader tends to trade in a similar way. If one signal goes wrong, others may also go wrong. So, select just one of them for diversification purpose.
2-3. Other live users’ rating
Read other live users’ rating before selecting the signal. If the rating percentage is too low like below 50%, do not select.
2-4. Live Followers result
At the bottom of the page, there is Trading History section. Click “Live Followers” tab to see result of other people with this provider. If it is not profitable, do not select.
2-5. Add signal providers that match above check points in the advanced search result to your portfolio.
Step 3. Setting of signal providers in your portfolio
Even if good signals are selected, risk management is the key to success in forex trading. You cannot rely 100% on someone else.
In “SETTING” section, you can set for signal providers you added to your portfolio.
Set as follows for each signal provider.
Lots Multiplier – 1
Max Open Trades – 1
With this setting, risk of each signal is minimized.
Please remember that “Margin Call-o-meter” of your account must be always within 100%. If it exceeds 100%, disable one or more signals until the meter becomes less than 100%.
When you add a signal provider, do not add it to your live account without testing. Always test in your demo account for at least 1 month until you have confidence in it.
Step 4. Maintenance of your portfolio
Since ZuluTrade is a kind of managed account, once signals in your portfolio is activated, you don’t even need your PC. However, I recommend to check your daily result by E-mail or the website of ZuluTrade.
Do some research of Step 1 to 3 regularly and if you find a good provider, just add it to your demo account. If you are satisfied with the demo trading result, you can add it to your live account.
Diversification means reducing risk by investing in a variety of assets. Investing using different signal providers with lot management reduce risk and constant growth of your account can be expected.