ZuluTrade is another great social trading network where Forex, stocks and commodities can be traded in following other traders. Keep in mind that ZuluTrade is a more suitable forum for people with at least a certain amount of trading experience. This doesn’t mean you can’t learn if ZuluTrade is your first site, but if you start elsewhere, it will be far more beneficial for you.
Advanced Tips
As with every other platforms, you should be taking your time carefully choosing them. You should also look at the history and pick the providers with a lot of experience and a clear graph that shows that they have been successful. If you don’t, you might be misled into pursuing a signal provider that isn’t as successful as it seems.
1. New Providers
Always be aware of new providers. It’s much better to pursue someone who’s been checked many times than someone in a few trades who may or may not have been successful.
There’s also a chance ZuluTrade will recommend you a trader via email. Be careful about those traders. We are new in some situations, or they have used a new tactic that has improved their winnings. Be that as it might, many people continue to pursue them. This isn’t such a bad thing, but caution needs to be taken. Every trader gets their followers a reward.
2. Risk-O-Meter
Like other websites, ZuluTrade has an instrument for risk-measurement. The Risk-O-Meter lets you control your risk. This is awesome, because you can use a slider to control your risk. Risk-O-Meter facilitates modern and sophisticated control of the risk. Make sure you keep it much lower than 100%. If you are in question, starting with something like 10 percent is a good idea.
3. Reduce the Risks
If you want to find good providers to join you may need to spend more of your time. ZuluTrade’s search system isn’t the best, but it does get the job done. This doesn’t mean you will have to search through every single trader, just make sure you don’t follow too many at once. Bet on consistency rather than quantity.
4. Be Reasonable
You will be left under the illusion when you use ZuluTrade that it would be easy to make money and you won’t have to do anything for it – just sit down and wait. You have to establish reasonable expectations. You can’t believe your finances can triple in a week. If you do, then you’ll take huge risks and in a week you’ll probably lose everything you have.
