As such, there is a realistic chance that a market newcomer copies a successful trader who is just about to suffer a drawdown, which means the market newcomer will experience a losing trade from the very start. Get the best of technology with the right social trading platforms. Follow some of the most successful trading strategies of experts and unlock excellent xcritical opportunities for yourself with FidelisCM social trading platforms. Had the recommnded setting and both times my demo account started OK and then got obliterated by bad traders.
- To be honest I recommend more to write directly in the online chat if you have any questions.
- The resulted in the company becoming both legitimate and respected in the trading world.
- Ideally, you need to follow several traders in order to balance your overall portfolio, but there aren’t very many consistently profitable traders on the platform and therefore making money is extremely difficult.
- Especially, we can find the “Slippage” parameter, and the new “Offset pips”.
The balance was at 2,198 pips on March 10th, and then it began to suffer a series of losses, not abrupt, but continuous, that within two months have instead led it to 1,358 pips on May 9th. This is a Signal Provider that doesn’t have an excessive number of Max Open Trades, and he generally cuts his losses and lets his profits run. Rather than argue whether or not this is a good value, I would like to show you something else. The drawdown expressed for a ZuluTrade Signal Provider is the total of the losses caused by the open losing positions only, at a given time. This view is very good to understand what happened when the Signal Provider encountered that Drawdown. In this case we can say that on that particular occasion, the trader has lost 40% of the profits accumulated up to that point.
Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility. Covesting is a cryptocurrency exchange and social trading platform that offers a variety of features for traders at both beginner and advanced levels.
Hence our performance always reflects real market conditions. Due to the volatility of the markets, sometimes results may vary between accounts.All signals and trades executed on a demo account are considered to be hypothetical. It’s an account protection feature that monitors each trader’s behaviour and automatically removes a trader when detecting a trading strategy has deviated from its expected loss profile. So basically what it’s saying is, that there’s something working in the background that will pull you out of trades if they feel as though something has changed in the behaviour of that trader. Now that sounds like an amazing feature to protect you if you know the trader goes rogue. But I’ve lost money because this ZuluGuard feature has just pulled me out of the trades, so it’s really frustrating.
And then it’s just kind of up and down, and over time it has made money. So you would say “okay, overall this looks relatively profitable”. However, if you come over here and have a look at the open positions, they’re carrying a 9000 pip open position, which is a negative amount.
As we mentioned, the Crypto account is the only account type to feature cryptocurrencies. We found 15 available options, including Bitcoin, Ethereum, and Litecoin. Look at how traders behave when they lose – Every trader loses, but how a trader handles a loss is what separates the successful from the failure. Spread your risk – Going all-in on just one trader or trade idea is a recipe for disaster. Follow traditional trading strategies by diversifying between multiple traders and staying low risk on each trade (1-2% of your trading account value).
Guide to the analysis of ZuluTrade Signal Provider
Some of them are clear martingale traders and that will catch out newbies. And so what I’ve done for purposes of illustration is I’ve just opened a demo account. So I’m going to set up some traders and things as if it’s like a new account. So I’ve just set up this demo account, so you can see sort of behind the scenes. And I’m gonna just walk you through it all very quickly now. This is very difficult to answer because I myself have not figured out a way that it can be profitable yet.
- Yet despite being user-friendly, the service does work best if you opt for the company’s own brokerage, AAAFx.
- But on the other hand, almost certainly, you will also stop some of the operations that would have made a lot of pips in profit.
- It’s not as if the traders holding or carrying losses for months and months at a time, as I’ve seen in the past.
- The ZuluTrade ROI is calculated by annualizing the classic ROI, but only of the last three recorded months.
- But as I say, there might well be that someone watches this video and does things slightly differently, and can come back to me and tell me the way to do it.
- The way you will deliver this information to them is just a matter of technical question.
Below you can find a pop-up menu that lets you select one or more of these pairs, to see with an Equity Line the actual Signal Provider’s profits and losses trend on a particular exchange. This is a great way to figure out where the Signal Provider do his best, and where it suffers a bit more. Along the abscissa axis you can find the currency exchange rates upon which the Signal Provider has worked so far, on the ordinate instead of the amount of pips gained or lost for each currency pair. With the button below “Include Unrealized PnL” you have the chance to see the chart with two columns, orange and blue, and with the “Closed Trades Only” see only the orange closed trades. By clicking on Open Trades some circles with a numbers inside will appear on the Equity.
New entrants can copy trades made by successful traders and reap the rewards. This social trading aspect ensures traders whose strategies have been successfully copied earn COV tokens . Beginners can access each experienced traders history, strategies and reviews by other users who have executed similar strategies.
The minimum trade size for all account types is 0.01, or one micro lot. Aside from the Micro account, all accounts offer a maximum order volume of 100 lots. The Micro, Premium, and ZuluTrade accounts will allow up to 100 open positions at a time, while the Pro account allows 150. The website does not clarify these details for the Crypto account type. Margin call and stop out levels are shared by the Micro, Premium, Pro, and ZuluTrade accounts.
Actually, I like the platform, I like the usability of it, and everything, it’s very stable. I mean, you could say “wow this guy’s having an amazing week”. But if you go back overall, they’ve been having heavy losses, it’s very up-and-down trading sort of style and there’s not a long period of time that they’ve got evidence of them, either.
Settings Section – How to set up the platform
And the best thing is that it would do everything automatically, no need for you to manually change the stop loss level. In the image below we have, trivially, set a profit condition reached on the account, in Euro, so that if 10,000 Euro are exceeded, will trigger the closure of all the trades in the account. The Automator section of the ZuluTrade settings simply confirms that ZuluTrade is one of the best Copy Trading platforms in the world as regards the customization of the account. Up until now, we have seen the settings you can work on as regards the portfolio in the “My Account” section.
- Start with a demo account – Those new to social trading should open a demo account before depositing their hard-earned cash.
- In fact, their long-term commitment to reliable customer support was recognised with a BrokerNotes triple AAA support rating.
- As we will see in the next lessons, the investor has the ability to manage and modify at will every detail of its portfolio of Signal Providers and of its strategy.
- Note that, when passing to the next tab, if by chance you should change the time period of this bar, thus updating all the data, you will always be sent back to this Equity tab.
Because if we look at this next trader here, it’s got over a million dollars following and decent investor profit, as well. Quite a high number of investors, so that all looks pretty good. I mean, if you can do that consistently, That is life-changing ROI. So that’s one of the first things I would suggest if you do go ahead with your ZuluTrade and other purchases, and following this as an xcritical strategy. And you’ll probably find that when you’re searching through them, that probably will be more than one that takes your fancy anyway, do there is a lot to choose from. You just follow one, because they’ve all got kind of strengths and weaknesses in different ways.
Do you want to discover other platforms like ZuluTrade, for example xcritical, Naga xcritical scammers Markets or Darwinex? Check out our Top 10 of the best Social Trading platforms.
Crypto-Currency Trading SeminarCrypto-Currency Trading Seminar
And the reason partly was because the trading quality wasn’t there, but also because the ZuluGuard thing was causing me problems as well. So you can trail it or have it fixed, but I’m going to leave it for now. xcritical scammers But we’ll see what actually happens with that feature, just on this on demo going forwards. A huge amount of open losses on this account, but overall it’s still highly profitable, and it’s only a demo account.
No information or opinion contained on this site should be taken as xcritical advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial https://xcritical.solutions/ instruments. Past performance should not be considered evidence or guarantee for future performance. Between 74 and 89% of retail investors accounts lose money.
You don’t really want to be closing out on position just because it’s gone 500 dollars over. Maybe… because this was a little while ago, it was several months ago and the feature was fairly new, maybe the traders weren’t used to it either and maybe they’ve adapted their style. So that’s why I don’t want to just categorically say that ZuluTrade is worthless. I kind of like it, I do kind of like this platform, I think there’s definitely potential here. But ultimately comes down to making money, and I’ve been making losses now for for quite some time.