ZuluTrade Review: Trader/Signal Provider Selection
You will start looking for traders, also known as “signal providers”, to follow from the ZuluTrade Traders Performance Table screen (SEE IMAGE or click here to view live on ZuluTrade website). Please note that some images are from the ‘classic view’ of the ZuluTrade website, though the information displayed is still the same on the newer view. This screen displays the traders against the current Zulu Trade ranking which is updated daily and based on a number of proprietary criteria (i.e. the ranking criteria are not openly published). Next to each trader you’ll already find some statistics: Graph, Pips made to date, Trades done to date, Return on Investment (ROI), Average Pips profit per trade, Win %, Max DrawDown (DD) %, Average Trade Time, Weeks on ZuluTrade, number of Followers and Amount Following. You can order the traders from this screen using any of these variables as well. E.g. order them by those with the most followers or longest history on this social trading platform first.
If you want to refine your search further you can select the advanced search screen (SEE IMAGE). This screen allows you to enter a wide range of parameters to filter the list of ZuluTrade traders & “signal providers”. This include values such as:
- only show traders trading their own money
- only show traders that have live traders subscribed to them (i.e. following them)
- define the minimum/maximum number of weeks they have been trading on ZuluTrade
- define their min/max win percentage you expect
- define the average number of pips gained per trade
- define the max slippage (i.e. difference in execution price between the trades in their account and the copied trades in the accounts of their live followers)
- maximum open trades at any one time
From the performance table view you can also access the simulation tool (discussed in the money management review section) and the Tradewall, which is a live feed of the current activity (buys, sells & status updates) of the traders you can copy on ZuluTrade. The Tradewall is probably more useful if you’d trade yourself as well, since it gives an indication of what other people’s current trade positions and opinions are.
As investor, a more useful addition is that you can also view a table with the performance of the followers, i.e. other people investing on ZuluTrade (SEE IMAGE or click here to view live). This will display ROI, win %, pips profits, best/worst trade, average pips and weeks investing for each follower. You can also view their current portfolio, i.e. which traders are they currently copying and which risk settings do they use. If you like someone else’s portfolio, you can copy all their settings into your own portfolio as well. However, when the follower changes their portfolio in the future, these changes are not automatically replicated into your portfolio.