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Review of Analyst EUR ZuluTrade Signal Provider

Analyst EUR is a Polish based trader who has been trading on ZuluTrade since May 2012. They moved into the top 20 ranking in August and top 10 in September. At the time of writing this review, October 17th 2012, they’re ranked 13th. You can view the full ZuluTrade history for Analyst EUR here. Based on their (limited) trade data to date here’re our:

Analyst EUR Pros:

  • results for the first 5 months were all positive with a low drawdown

Analyst EUR Cons:

  • performance has been gradually decreasing
  • stop levels are all set at the same level – no adjustments depending on market conditions
  • profile strategy description doesn’t fully match actual strategy
  • do not trade their own money
  • profit taking strategy or levels are unclear (+10 to +180, though 70 pip profits turned into -60 losses)
  • limited to no communication
  • only 3 star rating to date

Review Summary:

A profit of over 1400 in the first 5 months with a low drawdown propelled Analyst EUR into the ZuluTrade top 10 ranking. The maximum drawdown on open trades during that period was 116 pips (obviously low because they only open a maximum of 2 trades), though because this is a short term trader we also look at the drawdown from peak which has been about 280 pips. Looking a bit closer at the performance graphs per month you will however notice that most of the profits came in the first 3 months (especially the first one) and the last 3 months have actually been flat.

ZuluTrade Analyst EUR historical performance
Analyst EUR Signal Provider historical performance on ZuluTrade until 17 Oct 12

The strategy description in the profile mentions stop levels being set at 30 or 60 pips, though looking at the historical trades, the last 3 months every losing trade was closed at about 60 pips. As we mention in our ZuluTrade SP selection tips section we’re not a fan of traders who use fixed stop levels. Professional traders will normally set their initial stop levels based on some support or resistance levels, and they’ll adjust their stops based on the current ‘live’ price action if needed. Setting levels at the same levels is very system/robot driven behaviour. This ZuluTrade signal provider also let profits of +70 pips turn into -60 losses which also doesn’t look great (most live traders would move their stops at least to break-even).

At time of writing they also have an EURUSD sell trade running, opened on October 5th for 1.3066, which is at time of writing was at -40 pips. However, this trade could have been closed at a profit of about 240 pips on October 11th. Hence the exit strategy is very unclear, even more so since Analyst EUR calls what they use an ‘intraday trend system’. Letting a 240 pip get away over 10 days is not an ‘intraday’ strategy.

While this ZuluTrade signal provider did provide some updates at the beginning, they’ve not communicated or provided updates for the past 45 days. The review comments from the followers also seem to echo their less than consistent performance over the past few months and lack of communication.

Obviously a trading history of just over 5 months is very limited to make a proper opinion of a trader. Time will tell whether Analyst EUR can prove that their first 3 months weren’t lucky and they can rediscover and repeat their early results.

Please not that this Analyst EUR Signal Provider review is included here for information purposes only and does not in any way constitute advice. Investing in ZuluTrade and other Forex social trading networks is very risky and you should consult an independent financial advisor if you’re not sure. Never invest money you cannot afford to lose.