[MichaelFXVIC]

Hi – my name is Michael and I am new to FOREX. Whilst I am interested in FOREX trading, I am not a Trader (I operate a series of businesses in Australia). I am interested in setting up a process where I can mirror successful traders (with their permission), in real time, for a percentage of my profits or for a monthly rate. I would greatly appreciate any advice on the steps required in setting up such a process.

[Mike]

Hello Michael.

Many of our users are also looking for such a service and perhaps if we all can collaborate on how to do this we can bring together

A) The successful traders (which we have)
B) The users that are in need of those signals (which we have)
C) The programmers to make this system come to life (which we do not have)

[Brian2MN]

Mike--I see that you have a link to Zulu Trade.....I've been experimenting with the demo account on there, and isn't that what Zulu Trade is? Perhaps as an administrator on this site you could work out some sort of discount for members of this site or something.

I've been tweaking the settings on my demo account and so far, I'm not sold on some of the traders. They have a winning percentage, but the DD has been huge with a few, and they need to tweak their settings a bit IMO. I see how you can set a limit on how many of the same trade one user can make and limit the number of transactions each user can make, how many total transactions, but there is no limit that I can find in regards to the number of TOTAL ongoing trades in the same pair. Last week I had a 50% DD in my demo account from 50K down to 25K right off the bat, because a couple of my members maxed out their limits all on buying GBP/USD which then tanked for a few days. They all wound up on the winning side, but not before all dropping 200 or so pips. I've also had a lot of trades on there that had a low of -50 to -100 pips before turning a 5 pip realized profit. Too much risk for too little gain.

You know any users on there who are pretty good with their DD and risk/reward?