BTW.
If you have had any experience with zulutrade, please take the time to share your experience here so other traders can benefit. Knowledge is the key to success :)
Monday, July 6, 2009
Introduction.
If you are considering opening an account with Zulutrade then you might want to read this blog first.
The chances are you have already looked at the performance page at zulutrade https://www.zulutrade.com/Performance.aspx and marvelled at some of the results. If you have, the chances are you would have seen signal providers like LowestDD, Pro-B5, Bigwin, Make-it-grow and many others who have more than 90% success rates in their trading and a colossal amount of accumulated pips. It looks impressive--but is it? Zulutrade claims that their stats do not lie. But we all know that Samuel Clemens (Mark Twain) was right when he said there are liars, damned liars and stataticians.
I am not saying these stats are not useful; of course they are. But since the main goal of trading is the consistent accumulation of profit in clients accounts rather than the general performance of signal providers I am going to use this blog to explore the inner workings of Zulutrade through the performance of a live account. My hope is this information will be useful to others who might be looking to outsource their trading to a third party provider--a market that is bludgeoning in forex trading of late.
To that end I have opened a mini account with FXDD. I have selected 5 of the best performing signal providers (in no particular order):
1) Make-it-grow
2) LowestDD
3) Pro-B5
4) Scalptrade
5) Mohd1969.
The following limits have been set:
* a limit of one trade per signal provider at a time
* a limit of 0.05 lots per traders per trade (50 cents per pip).
* a stop of 120 pips.
The account was started with $1100 USD and I have since topped that up to $1200.
So, lets see what happens.
The chances are you have already looked at the performance page at zulutrade https://www.zulutrade.com/Performance.aspx and marvelled at some of the results. If you have, the chances are you would have seen signal providers like LowestDD, Pro-B5, Bigwin, Make-it-grow and many others who have more than 90% success rates in their trading and a colossal amount of accumulated pips. It looks impressive--but is it? Zulutrade claims that their stats do not lie. But we all know that Samuel Clemens (Mark Twain) was right when he said there are liars, damned liars and stataticians.
I am not saying these stats are not useful; of course they are. But since the main goal of trading is the consistent accumulation of profit in clients accounts rather than the general performance of signal providers I am going to use this blog to explore the inner workings of Zulutrade through the performance of a live account. My hope is this information will be useful to others who might be looking to outsource their trading to a third party provider--a market that is bludgeoning in forex trading of late.
To that end I have opened a mini account with FXDD. I have selected 5 of the best performing signal providers (in no particular order):
1) Make-it-grow
2) LowestDD
3) Pro-B5
4) Scalptrade
5) Mohd1969.
The following limits have been set:
* a limit of one trade per signal provider at a time
* a limit of 0.05 lots per traders per trade (50 cents per pip).
* a stop of 120 pips.
The account was started with $1100 USD and I have since topped that up to $1200.
So, lets see what happens.
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