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ZuluTrade 101 - How to Choose ZuluTrade's Best Signal Providers

ZuluTrade 101 is the ultimate guide on how to choose the best forex signal providers. ZuluTrade is a mirror trading platform that takes professional trader's signals and convert them into trading orders directly in your real trading account.

You simply choose your favorite signal providers whom you want to follow, and ZuluTrade does the rest! ZuluTrade's top five signal providers (TradeFxPlus's pick) managed to pull more than 1,000 PIPS / month.

ZuluTrade 101 is aimed to help many ZuluTrade users that often spend precious time on researching the right signal providers. Use below decisive factors to find the best experts for your trading portfolio:

Top Signal Providers (TradeFxPlus's Pick)

1. ForexAnomaly
2. Let's do it
3. SteadyCapture (v)
4. Dynamic Pips Collector
5. SwissRunner
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Popularity

Followers - Choose signal providers with at least 100 followers. Also, make sure that "has live followers" is marked "Yes".

 

Ranking - ZuluTrade's ranking will do a good, first, elimination. So make sure you choose providers in the top 100.

 

Rating Stars - Select providers with at least 3 stars, more important, read what other live followers had to say about this provider (read between the lines).

Risk of Ruin

Max Draw Down (pips) - It is important to choose only providers with DD lower than 1,000 pips.

 

Total Trades - Choose signal providers with at least 100 trades (the more is better).

 

Graph (visual) - Select providers with a positive, as close as possible to 45 degree, linear graph, i.e. not a choppy one.

Performance

Winning Trades (profit %) - Should be considered along with stop-loss to take-profit ratio. Do not pick providers with 100%!

 

Total Pips - Select providers with at least 1,000 pips in profit.

 

Average Pips - Select providers with at least 10 pips/trade (this will balance live trades slippage).

Effectiveness

Average Trade Time - Select providers with a maximum of 1 day. This will help you to free your margin as fast as possible with less exposure to changes in market direction (news, etc.)

 

Max Open Trades - Choose signal providers with less than 10 open trades at a time to ensure free margin for other providers and to reduce overall risk.

 

Monthly Performance - Select signal provider with consistent monthly profits (prefer the ones without losing months at all).

Other Criterions

Pairs - Diversify signal providers based on few pairs, it will help you to lower news volatility and overall portfolio risk.

 

Slippage - Slippage will consume your profits the fastest! It is very important to choose a broker that executes trades with less than 1.5 pips slippage.

 

Entrance - Now that you have a list of favorite providers, follow the ones that are currently in a negative trend, i.e. pull back in their profit graph.