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| Forex Signals Review Complete List Of Every Online Forex Signals Provider. Read other users Reviews and leave your own personal Ratings and Recommendation. |
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Ran a demo account for a month and got great results on virtual $50K. Have opened up a live account and it's making profits on $20K - trading 3 lots. Found a big difference between Performance rating pips and actual trades. I knew there would be a slight delay in getting real trades in, but, so far, the difference has always worked against me. Also, they show the pips * no. of lots traded, which is bit confusing for a newbie. I eventually worked this out, having called them. They said they would e-mail with a reply to the questions I put, but so far, nothing (+ 16 hours). However, it is making real money, it's only been 1 week, and the profits it's turning are ending up in my account with I-Trade-FX. Does anyone out there trade the opposite of the really bad signal providers - would seem quite risky, but I like the potential to do it?
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Was really quite excited with Zulu for a while. But just recently, found a trade from provider A which was opened on 31 Dec, and still open today. Provider A does not keep trades open for more than a few hours. Indeed their own performance records shows all trades executed on 31 Dec were closed on the same day.
Called Zulu - they said it was a problem they were aware off, but which only affected a few customers, and only with provider A. So why did Zulu not contact all users of provider A? Also, I did notice a similar problem with another provider prior to Christmas but never got round to calling Zulu then. That demo account was since closed by Zulu... |
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I was very excited by the concept for the first month. My demo account took an initial loss and then I switched signal providers and experienced steady gains to recover those losses. I was impressed enough to open a live account with FXCM and I kept the same signal providers and settings I had with my demo account. I also opened a signal provider account of my own to learn more about the back end of Zulutrade. This is what I learned:
1) The biggest problem with ZT is that no signal provider wants to take a SMALL loss when a trade goes against them. Don't assume that they are "scaling into a position"... they are protecting their performance record because that is how they attract customers and get paid. 2) There is no requirement that the signal provider trades his own live account so there is no equity management. If you have a million dollars in your account and are trading minilots... no problem. However, if you have 5K in your account, you can be wiped out in 24 hours... believe me when I say that I speak from experience (look for the open trades that have a stop of 999.99). 3) Do not be fooled by the claims of "trading specialists"... anybody can put themselves on ZT as a signal provider... I did. Look over the "Performance " tab and you will see that most providers offered are dormant or just plain garbage. The idea that you would "reverse trade" a signal is just stupid. 4) When you request some help from ZT, unless it is a simple matter or you are opening a new account, they will not reply and will stall. They claim to have no way of contacting their signal providers. 5) The platform itself is "glitchy"... trades frequently did not open or close when signals were sent. There were times when ZT had to manually reset my account with them so it matched my actual live account with FXCM. The performance posted on the website differs materially from my experience. My recommendation, do not use Zulutrade. The concept is great but they are a long way from making it work properly. I would say that they need to resolve some software issues and find a way to screen and maintain their signal providers. Maybe some customer service would help as well... |
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I have used Zulu to trade live several times using FXCM as the broker. Obviously order execution is imperfect, but when the signal provider does not attempt to trade news events over Zulu, the exectuion should be fine. If you notice huge differences between your results and your providers results, consider switching brokers.
Zulu is THE BEST money making opportunity in FOREX that I have found on the internet. Unfortunately, it is also an even better way to lose money if you do not understand what you are doing. The reason I say it is the best is because the user has the ability to take advantage of "crowdsourcing". Briefly explained, you give the same task to a large amount of people then use the best results for your solution to that task. If we could apply crowdsourcing to all the problems of the world in an efficient manner, we would all have a much higher quality of life. There are way more amatuer and scammer signal providers than legit professionals. What you need to do is sift through the providers on the first couple of pages to find providers that have: a steadily rising equity curve acceptable risk:reward ration (subjective based on your tolerance) acceptable stop loss levels (subjective based on your toloerance) a low max draw down compared to profits the longer the history the better trades a strategy that is compatible with Zulu's limitations. I prefer providers who open only one trade of one lot at one time for one currency pair. However, with carefull scrutiny, you can usually tell if a provider is scaling in and out of trades by opening additional trades for that currency pair at different times or simply martingaling. Speaking of limitations, watch for scalpers taking very low profits. Your trades will almost always be a few pips different from the providers in either direction, so 2 pips profit for the provider could easily be a 2 pip loss for you. Manual profit and loss taking. You can set limits and stops on Zulu, but brokers can easily hunt and manipulate when dozens of traders take an identical trade. Conversly, it is difficult to make emotionless trades with out pre-set targets. This is a fine line that is hard to walk. These are common RED FLAGS!!! Large Max Draw Downs Leaving trades open for much longer than their average trade time Very high win percentage Opening several duplicates of the same trade when the signal provider first starts to in order to look as if they have earned more than they actually have (you can spot this easily if their equity curve starts with a huge jump then levels off) Traders who rely on volitility and time using GBP/JPY to make small gains with large drawdowns and no stop losses. These providers often have high win percentages because they make a trade and just let it run until they can close it out with a small profit. Provider executes trades during high impact news times. If you have a live account with Zulu, the support is excellent. The best thing to do is demo for a long time until you get consistent results with consistent providers. Anyone who gives Zulu a bad rating probably doesn't understand how to use it properly and/or doesn't understand how to identify a successful FOREX trading system. Two key things to remember are: Anyone with a access to the internet and the ability to use a keyboard can be a signal provider. A steadily rising equity curve with low relative drawdowns derived from several trades over longer peroids of time is MUCH more important than a high win percentage. I personally like to use a few solid signal providers on my account who have different strategies and use differnt currency pairs. With the right providers, I usually have profitable weeks. |
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This service is terrible, for a number of reasons.
Firstly, a warning to all - the Signal Providers on ZuluTrade are using DEMO accounts. Thats right. They have no money at stake, and nothing to lose but your money. There should be a huge warning on the front page in big letters - OUR SIGNAL PROVIDERS USE DEMO ACCOUNTS. Their so called top Signal Provider, FX Markets, recently destroyed 66% of my account when they went short on the GBPJPY at 134.00. Possibly the worst trade I have ever seen anyone execute on Forex, since it was abput to breal strong resistance and make a run before the interest rate decision. No, I didn't have a stop loss in place, which was my fault. So I tried an experiment on Zulutrade to see if it is effective with a stop loss. I added ScalperGirl, who has over 300 subscribers. I set her a generous 110 pip stop loss, and blocked her GBPJPY signals as it is a volatile pair. The result? A couple of crappy trades with a profit of 10 pips or so, followed by my 110 pip stop loss being hit on almost all of the remaining trades. If you cant trade the EURUSD with a 110 pip stop, then you should give up trading. After deleting FXMarkets due to their pathetic recent trades, I decided to add them again and give them a huge 200 pip stop loss. The result? On the very first trade my stop was taken out. No wonder their subscriber count gets lower everyday. The fact is that this service is a joke until all Signal Providers are required to trade on Live accounts with their own money. The providers have nothing to lose, and will leave bad trades open for weeks or months in the hope it comes back their way and they keep their winning record. Thats bad trading. ps. Dont even get me started on the platform. I advise anyone who is thinking of signing up to look elsewhere, or wait until the providers on Zulutrade are trading with Live Accounts. Like that will ever happen..... |
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hi traders,
my name is Marco Pierre. i been trading for several years using brokers such as TDFX and, Alpari fxcm and the best signals signal firms i have used after using many others is FxPremiere. Fx Premiere Group SMS Signals firm are actually a legitimate Signals firm. Everytime i email them a question they respond almost instantly. I managed to speak to an individual who manages the Group Called Justin and i had a great conversation with him bout his technical analysts and how they predicted trades. it all made sense. Look forward to your replies traders ps does anyone know a fixed spreads broker?? Marco Pierre2 2 |
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