In this article we will cover how to choose the traders with Zulutrade and who are the most successful. Before we do that we will explain briefly what Zulutrade is.
What is Zulutrade?
Zulutrade is a financial services company and operating in the forex market. It is the owner of an online retail foreign exchange platform which delivers social trading. Read more HERE.
Zulutrade comes from an intension that would make forex trading approachable and simple to anyone. This intension maps to an exclusive online and mobile social auto – trading platform with a worldwide influence of more than half a million customers. Zulutrade operates in Forex and binary options and the official site is www.ZuluTrade.com
Zulutrade thinks, operates and trades for you, YOU just have to sit and relax!
You don't have to learn or observe the market, because hundreds of signal suppliers from around the world will do it for you.
It's very simple and easy, all you have to do is pick the Signal Suppliers/Trader you wish to use and Zulutrade will quickly change their guidance into live trades in your trading account promptly with the broker. And the good news is, it’s totally FREE!
Choose and follow the Trader for Forex trading
After you open an account with Zulutrade, you then have to choose the trader to follow.
You have check if they trade, to see if they trade often or they trade specific pairs. The trader might like gold, oil etc. other assets. You should look at the win percentage and the time that they are trading;
For Forex we will analyse the following traders which are good and called: VitalSurge2, Absolute Piper, Profix and WWFXSignal.
First of all we need to understand the terminology that you will find on Zulutrade, when you assessing traders to follow. The ROI means return on Investment; the Drawdown is a way of assessing the risk a trader is taking in his trades. The drawdown on one trade is how far the price falls from its highest point. The Necessary Minimum Equity is according to the drawdown of the trader. It is a recommended amount that you will be exposing in the market with this trading system, but you can invest whatever you wish. When you choose a trader, you would have to look at the win percentage that is the most important factor.
Let’s analyse the traders. Profix has the highest profit, duration of weeks of trading, the highest trades made, the most average pips per trade, the maximum open trades, the highest amount of best trades and the necessary minimum equity.
- VitalSurge2 has the highest number of followers, the highest ROI, the highest winning trades, which at present, is 81%, whereas Profix is 78% and Absolute Piper is 76% and WWFXSignal is 65%. The winning trades are one of the major factors when choosing a trader as we mention before.
- VitalSurge2 and Absolute Piper have the highest drawdown with 22% and 21%. Profix has an average pips per trade high of 14.5 and a low drawdown of 15%, when for instance Absolute Piper has a low average pips per trade of 4.7 compare to a high drawdown of 21%.
Now you have to ask yourself a question: how important is the Average pips per trade? Is it good when is it low or high?
The answer is: high is good as long as the drawdown is low, you want to have more pips and less drawdown. So in this case Profix is the best, as it is the best average pips per trade and a draw down of 78% winning trades.
In the next article we will analyse the traders to follow for Binary Options.