zulutrade signal providers

[sniper012]

This never seems to fail. There is a hot signal provider on zulu who has $20+ million dollars in live accounts following and eventually, most of his followers lose it all or come very close. Since I have been keeping an eye on zulu, I have noticed this 3 times. It started with a provider named Lowestdd (lowest Drawdown). He was the number 1 provider for months and eventually wiped out thousands of accounts. The next one that I recall was FlyOnTheWall. I think he had a 9 month run where he was 100% accurate and eventually he went from controlling $25 million to now where he is down to controlling $82 thousand in live accounts.
The latest failed signal provider...let me retract that statement, he hasn't failed yet but his followers are less than happy with his recent trades. Anyway, the provider is named Forex Cruise Control and he currently has over $20 million dollars following him. He may be on his way to crashing and burning just like the other two providers. This is what they all have in common. They all open up multiple trades on the same pair within minutes of each other. So basically, since they get paid based on volume, this actually makes sense for the provider to do this. So they will have 10 buy trades on eur/usd, all opened within minutes of each other. When you look at their histories, it looks so tempting because all you see is a sea of green winning trades, but look beyond that. It's always just a matter of time.
The second thing that they all have in common is that none of them trade with a stop loss. A trade can go against them by thousands of pips and they will just keep the trade open until it turns around. Sure it usually does turn around weeks or months later, but can the average account withstand a 20,000 pip draw down? I'm not kidding, at one point, Fly on The wall had a combined draw down of over 20 thousand pips.
The last thing they all have in common is that they usually have these huge draw downs but yet when the trade goes into profit, they will take 5 or 10 pips and close the trade. So you even if you can withstand a huge draw down, is it worth it to do all of that for 10 pips? My point in all of this is to warn all members to be very careful when it comes to zulu. If you have been struggling with trading and you feel like you want to go to a signal provider, make sure you do your research. I have pointed out the main things to look out for when deciding on a provider. Ideally though, we should all be trading for ourselves.

This is from one of Forex Cruise Control's former followers. I could not have said it better.>>>>>>>>I stopped following this SP months ago. Have never been able to understand how he garnered a following of close to USD30 million at one stage. If you look at his performance, he has been making on average about 250 pips a month for the last few months. At his recommended settings of $500 per micro lot and 7 open lots, a subscriber would need to have a capital of USD3,500 to follow his signals. At 250 pips per month, such a follower would make $25 a month, or a return of 0.7% per month, or 8.5% p.a. This does not even take slippage into account. While this may be higher than the return from bank deposits, it is certainly not an attractive risk reward ratio considering that this is forex trading which is extremely risky. High risk should result in high returns. But there's no doubt he is intelligent. At, say, $28 million following him, $500 per microlot, and 7 lots allocation, each trade he opens would trigger 8,000 microlots, which would earn him $320 for one signal. As his typical trading style is to open at least 2 trades per day, with the first trade closing at breakeven or a small profit, this means he earns $640 per day, or $14,080 per month based on a 22 trading day month. This is just a conservative estimate, though, since there would be subscribers who allot less than $500 per trade, and less than the recommended 7 open positions. So you can see who the real winner here is in this SP-subscriber relationship.

[SAS]

That's real despicable Sniper12 but at least we know where the real money is at on Zulu Trade ehhh?

[henryduncan12]

zulutrade signal providers specially who are listed in its site is consider more reliable than other signals providers. Therefore most of the traders purchase signals from signals provider at ZuluTrade.

[ViennaL]

but they are more reliable NOW.... but tomorrow...?

[sniper012]

I am disturbed by some of the comments of his followers. One guy says that FCC (forex cruise control) Ruined His Life. Really? Then you were obviously doing the wrong thing because you should never trade with money that you can't afford to lose. If you are trading with your mortgage payment then you are an idiot. There's another follower who is giving the provider advice on how he should manage his current trades that are in the negative. I'm thinking "if the follower knows so much, why the **** is he following a provider? Trade for yourself smart guy!!!"
The last thing that I want to point out is that in a lot of the followers comments, they ask the provider why he doesn't use a stop loss. WTF??? Hello? I mean, it's not like FCC use to trade with a stop loss and then stopped using one, he NEVER used a stop loss and everyone knew it. So what's their beef? You knew his style before you decided to make him your provider. I bet they didn't suggest he use a stop loss 6 months ago when it was all WIN WIN WIN. Now that some accounts have been margin called, the lack of a stop loss is an issue. People, you need to educate yourself in this business even if you are going to use a signal provider. This is why I don't feel sorry for most of these followers. I feel for the very novice trader somewhat, but even they should educate themselves.

[Oleg.Hajar]

Yea, its plain to see that a signal provider will have -1920910910298 pip drawdown yet people are fooled by the positive integers instead. It kinda makes me want to vomit. At least zulu started to punish the signal providers that are more wreckless and reward ones that dont just focus on their ROI with wanton disregard for their drawdowns.

[WMDFX]

thats how they make their money

im convinced half those "followers" are fake... many are simply demo but still... it makes them look more popular

[sniper012]

Some of the followers are on a demo account but all you have to do is look at the amount of live money that is following a particular provider. Of course there is no way to figure out the actual amount of live followers (at least I don't know how), but is you have $25M in live accounts following your signals, you're doing okay.

[sniper012]

Exactly my point. But who do you blame? If something pops up and tells you that a provider trades recklessly, why would you still follow him and risk your cash? I think blame falls on all parties. Zulu put in sort of a safeguard but that was more to just cover their ass. All they do is provide the service, it's up to you to research your provider.

Yea, its plain to see that a signal provider will have -1920910910298 pip drawdown yet people are fooled by the positive integers instead. It kinda makes me want to vomit. At least zulu started to punish the signal providers that are more wreckless and reward ones that dont just focus on their ROI with wanton disregard for their drawdowns.

[Mike]

Thanks for this insight Sniper.

You're totally right, it's kind of frightening how much one can risk without really understanding the scope of the true risk involved with allowing Zulu to manage all your funds. To hear someone say "this provider ruined my life" not only makes me think yes, he was foolish for entrusting indispensable funds to one strategy or in this case one person, but it deters responsible traders like myself from even wanting to become a signal provider on there. Let's think about it from our point of view for a second; I have the ability to become an SP but my method would be 60-70% winning and probably thrust me down to #600 on their rankings, but also I have to say to myself, do I even want people following me who are, themselves, irresponsible investors that put the onus of their future on me?

It's a big mess, but I can say personally, if there was a way to morph my TopGun strategy to MT4 then I would gladly become an SP, because I refuse to use the ZuluTrade online platform which I have tested and have concluded it may be the biggest joke to trading since, well, ever. Try it for yourself some time, the spreads, the misquotes, it will astonish even the biggest bucketshops.

[Pippywise]

Exactly my point. But who do you blame? If something pops up and tells you that a provider trades recklessly, why would you still follow him and risk your cash? I think blame falls on all parties. Zulu put in sort of a safeguard but that was more to just cover their ass. All they do is provide the service, it's up to you to research your provider.

because people are stupid... they want to believe in things that are too good to be true to their own detriment. How else do you explain the 9/11 commission, the Iraq war and the lotto.

[Kamal78]

I think the main problem with zulu is that users are risking much and expect to win much , and when the drawdown come they all explode and start swearing. Take fcc for example who is experiencing a drawdown at the momment, in his strategy description it was stated that drawdowns of 1000 are expected at some point , so if a user could not handle so much drawdown he should not have followed fcc in the first place. WHy the risk?

[soze]

I think the main problem with zulu is that users are risking much and expect to win much , and when the drawdown come they all explode and start swearing. Take fcc for example who is experiencing a drawdown at the momment, in his strategy description it was stated that drawdowns of 1000 are expected at some point , so if a user could not handle so much drawdown he should not have followed fcc in the first place. WHy the risk?

Isn't that straight up irrespoinsible trading? I mean who the trades like that in the real world with their own money?

[sniper012]

I think that's should be a pretty good indication that the providers are out for themselves. Just look at how they trade. Let's say they put out a signal to go long on the GBP, what they will do is open a trade at 9:04am, 9:05am, 9:06am and so on, all back to back because they get paid on executed signals. Now if a normal, responsible trader like myself were going to make this trade, there would only be one trade but just with more lots. SO I would execute my ONE trade at 9:04am, but maybe trade 10 lots. That makes sense to do. The only way it makes sense the other way is if you are getting paid per signal. So why not, right? It's not YOUR money, it's your followers money. If they have to absorb a 2,500 pip drawdown, oh well. You already made your cash on the front end. If they get margin called, hey, it's all part of the business. Trading is risky right? You already have a built in excuse as a provider.

Isn't that straight up irrespoinsible trading? I mean who the trades like that in the real world with their own money?

[TopTrader]

I think that's should be a pretty good indication that the providers are out for themselves. Just look at how they trade. Let's say they put out a signal to go long on the GBP, what they will do is open a trade at 9:04am, 9:05am, 9:06am and so on, all back to back because they get paid on executed signals. Now if a normal, responsible trader like myself were going to make this trade, there would only be one trade but just with more lots. SO I would execute my ONE trade at 9:04am, but maybe trade 10 lots. That makes sense to do. The only way it makes sense the other way is if you are getting paid per signal. So why not, right? It's not YOUR money, it's your followers money. If they have to absorb a 2,500 pip drawdown, oh well. You already made your cash on the front end. If they get margin called, hey, it's all part of the business. Trading is risky right? You already have a built in excuse as a provider.

For every pip risked, aim to make 3 in return.

Classic rule no one follows on Zulu Trade that I can tell.

[sniper012]

The following is a very astute comment from one of FCC's followers..actually probably a former follower. When I started this thread, FCC had $22 million in live accounts and today he is slightly over $19 million. Anyway, here's the comment>>>>>>
When I very first started to learn about trading I spent a huge amount of time researching the basic principles and the absolutes that one needs to know in order to trade consistently and professionally over the long term. Three key points kept coming up again and again: 1. ALWAYS use a fixed stop and dont move it for whatever reason, so that you know your exposure before it even happens. 2. Only ever trade WITH the major underlying trend, NEVER against it. 3. NEVER keep adding to a losing position in the hope that it will come back - this is pure delusion; cut them off, take a break and start again. Perhaps its time to brush up on your basics?>>>>>>
This guy is absolutely right and FCC doesn't do any of these three things.

This next comment is from a follower of his OTHER signal provider account. I don't know where this one started but he currently has a little over $2 million in live follower cash.>>>>>>>Hello. Do not give up ! Please be careful ! We are as important as the followers of your other account, we need you to save us too !>>>>>>
That comment really eats at me because I started trading so that I didn't have to depend on anything or anyone except the market. Conversely, this guy is asking to be "saved" by a signal provider. The thing is, FCC can't save anyone. He can only hope and pray that all of his losing long positions will soon reverse. Even if they do reverse, FCC will close them with about a 10 pip profit even though he currently has 5 open positions for negative -1.205 pips. So you would have withstood at minimum a 1200 pip drawdown for a total profit of 50 pips. But I see this pair going down even more to be honest.

[Falashadae]

The following is a very astute comment from one of FCC's followers..actually probably a former follower. When I started this thread, FCC had $22 million in live accounts and today he is slightly over $19 million. Anyway, here's the comment>>>>>>
When I very first started to learn about trading I spent a huge amount of time researching the basic principles and the absolutes that one needs to know in order to trade consistently and professionally over the long term. Three key points kept coming up again and again: 1. ALWAYS use a fixed stop and dont move it for whatever reason, so that you know your exposure before it even happens. 2. Only ever trade WITH the major underlying trend, NEVER against it. 3. NEVER keep adding to a losing position in the hope that it will come back - this is pure delusion; cut them off, take a break and start again. Perhaps its time to brush up on your basics?>>>>>>
This guy is absolutely right and FCC doesn't do any of these three things.

This next comment is from a follower of his OTHER signal provider account. I don't know where this one started but he currently has a little over $2 million in live follower cash.>>>>>>>Hello. Do not give up ! Please be careful ! We are as important as the followers of your other account, we need you to save us too !>>>>>>
That comment really eats at me because I started trading so that I didn't have to depend on anything or anyone except the market. Conversely, this guy is asking to be "saved" by a signal provider. The thing is, FCC can't save anyone. He can only hope and pray that all of his losing long positions will soon reverse. Even if they do reverse, FCC will close them with about a 10 pip profit even though he currently has 5 open positions for negative -1.205 pips. So you would have withstood at minimum a 1200 pip drawdown for a total profit of 50 pips. But I see this pair going down even more to be honest.

Cant a follower add his own stops for a signal provider?

[sniper012]

Yeah they can, but if you don't know what the provider based the trade on, how do you know where to put your stop loss? If you just do a hard stop loss of 100 pips for every trade, you may miss out on some profits. I just don't know that you can arbitrarily apply a stop loss to what is essentially someone else's trades/ system/ analysis. I remember studying Fly on The Wall's trades and for the life of me, I could not see what he was basing his trades on. They were all winners but I would look at the times that the trades were executed and then I would look at my own chart for that exact time and I could never decipher what he was looking at. Eventually he flamed out BADLY!!!

Cant a follower add his own stops for a signal provider?

[sniper012]

so FCC is still dropping like a rock. I ran across one of his messages to his followers. Just pay attention to the part where he says he made some mental mistakes. $12 million worth of mental mistakes? Wow!! I don't really know how he even made a mental mistake because he uses an EA. It's a system that generates signals so what's mental about that?

[ACE]

Cant a follower add his own stops for a signal provider?

hahaha, a zulu follower taking his account into his own hands... hahahahaha