For our first ZuluTrade trader review of 2015 we take a look at manav predictor. At the time of this review, January 14th 2015, this signal provider was ranked 3rd in the ZuluRanking with about $630,000 in real money following them. This trader has a 62 week trading history and based on manav predictor’s ZuluTrade profile, here’s our review of this India based trader:
manav predictor Pros:
- overall profitable
- result have improved over time
- useful status updates
- follows the news and markets (makes reasoned trading decisions)
- over 1 year trade history
- results over time improved (last 6 months the best)
- system managed risk well historical (low open trade drawdown)
- clear stop levels use
manav predictor Cons:
- does not trade on ZuluTrade with own money
- relative high historical drawdown (like high future drawdown)
- no stop levels used
- most trades left open until they eventually turn profitable
- total risk not know
Looking at manav predictor’s profit graph (see below) we notice a fairly gradual increase, especially since May 2014. Before that period results were arguably a bit more erratic. If we include unrealised profits then this ZuluTrade trader ended 2/3 months in profit and 1/3 in loss. It’s worth noting though that over the last six months only one month was a losing one for manav predictor. I.e. performance has improved over time.
In total manav predictor has returned and some 9,600 pips so far. This works out at an average of about 680 pips per month. That’s certainly not about to return. However these results were achieved against a maximum drawndown of 2,230 pips. Hence the maximum historical drawdown is almost four times the average monthly returns. This is certainly something which needs to be considered in terms of risk reward ratio since this is not so great.
The average pips per trade return off manav predictor on ZuluTrade is 30 pips. This number is very good and one of the highest you’ll probably find on ZuluTrade (for traders with 1 year or more trading history). This also means that this impact of slippage will be quite low. Because even if you encounter slippage of 2 pips per trade it’ll only be a small percentage of the average expected pip returns (2/30 = 6.66%).
The winning trades ratio of manav predictor is 97%. This is exceptionally high but as we know is also worrying in terms of risk (read through our ZuluTrade and social training tips). It essentially means that manav predictor pretty much never closes at trades until they end up profitable. This is also the reason why the historical drawdown has been very high. In fact when we look at individual trades in manav predictor’s ZuluTrade history we notice that the worst trade went as low as -523 pips by after the market eventually turned, this AUR/AUD trade got eventually closed at 55 pips profit.
By looking at individual trades we also notice that manav predictor doesn’t use any stop levels (only 5 of the 316 trades so far were closed in loss). Hence the risk you’re taking is pretty much open ended. With a maximum of 14 consecutive open trades and no fixed stock levels it’s extremely likely that the drawdown of this trader in the future will be much higher than the previous historical maximum. This is probably also the reason why even though the results of this ZuluTrade trader in terms of returns are quite good to maximum profit made by a single follower so far has been about $2,000. While manav predictor does seem to have a good amount of followers the only seem to risk small amounts.
So what is the actual strategy manav this traders employs. In their ZuluTrade strategy description they mentioned they’re basically a news trader but also use indicators. They also mention that they have four years of trading experience and in one of their status updates they also mention that they trade themselves with a different real money account. However in terms of their ZuluTrade signals these are being sent from a demo account. So there is no way to verify whether this trader is making the same trades in their own real money account.
In terms of the strategy it’s also worth noting that this trader trades on pretty much every currency pair available. When we look at the status updates it is however clear that their strategy description seems to match their actual trading style. Manav predictor actively updates their followers with the reasoning of their trading decisions and positions. It is clear that they actively follow the markets and news updates. Professional traders may not always make the correct trading decisions, but what is important is that they will always have a valid reasoning why they made a decision at a certain point in time based on the information available at that time. From the updates in their ZuluTrade profile it seems manav predictor does this and from their historical results it also seems their reasoning is more often correct than not.
In summary, the results of manav predictor over the past 14 months have been pretty good, especially over the past 6 months. From the status updates it seems that this trader actively follows the news and makes well reasoned trading decisions. More often than not they seem to have made good decisions in the past. However the main caveat with this trader is that they don’t use stop levels and leave trades open indefinitely until they eventually turn positive. This means the risk you take when following a trader like this is pretty much open ended too. I.e. it’s highly likely some high future drawdowns will occur and you will be totally relying on this trader to manage risk (unless you apply your own ZuluGuard settings of course).
Please note that any ZuluTrade trader reviews are included here for educational purposes only. They should not be considered as advice in any way. The inclusion of a trader here should also not be considered as an endorsement of this trader. Forex trading can be highly risky and you should never invest money you can’t afford to lose. If you’re not sure whether this type of investing in right for you, please consult an independent financial adviser.