Forex Trading beginners are always spoilt for choice when it comes to the best trading strategy, the best money management and the best forex broker. In order to become a successful daytrader they have to learn some years and gather experience in the markets. If you want to be a fulltime professional daytrader you have to go through a learning process like with any other profession in the world. For some novice traders this is just too much - they want to profit from the markets right now and today. For those the best solution is to joing a social trading network like ZuluTrade.
Social Trading with ZuluTrade
At first glance it looks quite easy: Just sign up with a social trading network like ZuluTrade and copy the best traders in the world. If you don't have enough time to trade for yourself, this seems to be a perfect solution. But in order to make money with ZuluTrade you should at least know how the markets work and the basic rules of forex trading - this is why you need to choose the best traders on the platform to increase your trading balance. If you want to take advantage of ZuluTrade or any other trading platform, you sould at least know the meaning of the words "Draw Down", "Pips", "Lot", "Performance", "Max. Open Positions".
This is ZuluTrade
The following video briefly explains to you the function of ZuluTrade.
AAAFX - the ZuluTrade Broker
If you want to profit from the forex or binary option signal service with ZuluTrade we highly recommend opening an AAAFX Account. Why AAAFX? This broker is the house broker of ZuluTrade - actually it is just one company. Trade routing and order exection within the ZuluTrade/AAAFX-network is therefore without slippage and delay. Of course, you can open your ZuluTrade account with any other supported broker but you won't get any better condition nor a better order execution. If you already have a forex broker account and want to join ZuluTrade with this broker, you have to open a seperate account anyway. When opening an Account with AAAFX you will profit from a trading bonus of 10 % on your deposit. Your Account can be kept in USD, EUR, GBP, JPY, RUB and AUD.
Have you ever heard of binary options? Yes, this is currently the financial instrument with the fastest rate of growth. The reason being is that you can make a tremendous profit within a very short period of time. 90% on your deposit within minutes is absolutely possible, but on the other hand it is very easy to lose 90 per cent on your deposit as well. This is the main reason why most beginners fail when trading binary options - they become too greedy and don't apply a proper risk and money management. So if you want to profit from the enormous possibilities offered by binary options you should take advantage of a professional binary options signal provider within ZuluTrade. You just have to choose the best one and watch your profits grow.
Choosing the best signal provider
When it comes to the choice of the best signal provider ZuluTrade makes it very easy for you. There is an algorithm that evaluates every trader on the platform according to a certain pattern. You can choose whether you want to go for a rather risky trader or for a risk adjusted trader with a steady performance equity curve. We recommend you going for the latter. You should always have a look at the draw down rate of the respective trader which shouldn't go below 25%. You'd rather choose a trader with a steady performance for over a year or even longer than a newbie with a 700% performance in one week. It is very likely for him to wipe out his account within the next few days and then your balance will drop to zero as well.
Using ZuluTrade with Success
If you don't mind certain things even with ZuluTrade you can wipe out your account very fast. As already mentioned you should not go for a risky trader and prefer those with a moderate but steady performance curve. In order to protect your balance you should activate ZuluGuard. If you want to add several traders to your portfolio you should make sure to have at least funded your account with $/GBP/EUR 600 for each open mini lot. For any open standard lot you should consider to capitalize your account with at least $ 6000. Before you go live, you can watch and test your trader(s) on a free demo account. You should not just choose the trader with the most followers, although this column can be a helpful indication .
Are there any fees with ZuluTrade?
No, for you as a follower ZuluTrade is absolutely free of charge, like any other social trading platfom. The signal providers get rewarded with a small amount of the spread from every trade they make, hence they try to trade as well as possible.
How can I control my account?
Just log on to your ZuluTrade account and choose "Account Settings", this is where you can adjust the max open lots and add or dismiss new traders.
Becoming a signal provider
You are already a successful daytrader and would like to sell your profitable trading signals to others? Just sign up with ZuluTrade and start selling your trading signals. The better you trade, the more followers you will attract and the more money you will be able to generate out of every trade. ZuluTrade offers helpful support in 7 languages and is always keen on attracting new trading talents - be it in forex or binary options trading.
Normally the trailing stop doesn't work when switching off your MT4 platform. But with ZuluTrade a server based trailing stop is now possible. Just save your profits early and trail your winners with a trailing stop of lets say 100 pips. Thus you can improve your performance drastically and won't make a loser out of a winning trade anymore.
Open various demo accounts and check several traders and their strategies. Thus it it easier to track success and performance of the respective traders. Get rid of gamblers as quick as possible and add the serious investors in order to get your portfolio grow. Don't overestimate the profits - just be happy with a performance of 1 or 2 per cent on your account per month which is by far much more than any other investment in the world.
This is how forex trading works
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