Zulutrade’s advanced search methods
As you’ve got to understand, the Signal Providers available for consultation in the ZuluTrade’s Traders page are really a lot.
With such a large list, ZuluTrade has provided some very useful advanced search tools, to facilitate your first searching task. Let’s see what they are.
We can say that the first ZuluTrade attempt to facilitate the follower investors in their search of Signal Providers is the ranking.
ZuluTrade uses its own unique algorithm called Zulurank, which use some performance data to calculate a rating to be assigned to the Signal Provider (however, you must be sure to look at the real ZuluRank, read this post to see how). That rating is then compared with the votes of all the other Signal Providers to produce a ranking from best to worst.
We already talked about the dangers of using this ranking to choose which Signal Provider to follow. Here we want to say as clearly as possible: DO NOT follow the first in the rankings for the simple fact that they are in the top positions.
Unfortunately, this system has some major limitations ZuluTrade and almost always tends to reward traders who have had too much of the explosive performances, in terms of earnings in the short term. A situation of this kind, in almost all cases, reveals that the trader has very risky strategies used to obtain the exciting performance, obtaining then the first positions.
Unfortunately, this ZuluTrade system has some major limitations and almost always tends to reward to much those traders who had some explosive performances, in terms of earnings in the short term. A situation of this kind, in almost all cases, reveals that the trader has a very risky strategies used to obtain that exciting performance, obtaining then the first positions.
This doesn’t mean he will continue on this road. It’s very likely that in the short term this risky strategy will backfire against him. The problem is that usually this happens immediately after the Signal Provider arrived at the top, thus gaining a lot of inexperienced followers investors, who trusted only the rankings.
You can imagine the disappointment and anger of those who began to follow a trader, perhaps first in the rank, only to see him produce a series of large losses.
This doesn’t mean that those who are in the top positions are necessarily negative and risky. The Zulurank system many times promotes also truly deserving Signal Providers. We ourselves have found some of our favorite traders taking a look at the top 30 ranks. Don’t discard anything for bias, but analyze it with an open and clear mind, according to your technical and professional skills.
In addition, If it’s true that in the first positions you may still find good signal providers, is also true that these may not be suitable for you. The purpose of our free education, and of the GOLD membership, it’s primarily to provide you with tools to find the Signal Providers that are right for you, those suitable for your investment objectives and your risk tolerance.
Search By Country
This is a very nice ZuluTrade feature, certainly not essential, but that in some cases may also be useful.
You have the chance to search the Signal Provider based on the country from which they are sending their signals. Clicking on this button a pop-up window with a map of the globe will open.
As you can see, the map is full of icons. Each icon identifies the presence of Signal Provider in the corresponding country. The greater the size of the icon, the greater the number of the Signal Provider of the country. You can zoom in on the map, and click on each icon in order to discover the details.
You can know discover how many the Signal Providers in that country actually are, how many the follower investors, both live and demo, that are following them are, how many the followers with live account are, and what is the ranking of the best Signal provider of that country and the worst.
Finally (and this is the nicest feature) you can click “view Providers”. ZuluTrade will send you back in the Zulurank page, but this time showing only the Signal Provider of that country you have selected.
This is the best tool ever. You’ll have to learn how to use the ZuluTrade advanced search like a pro.
I can assure you that studying it hard and really learning to use it, not only you will facilitate greatly your research work, but you’ll get also a much better understanding of the quality of the ZuluTrade Signal Provider.
The first thing to do is to click on this small wheel icon. The symbol is only visible when the display mode of the page is set to “Advanced“. ZuluTrade will bring up a new block at the top of the Signal Provider ranking list and, as you can see by yourself, here things get interesting. The search parameters are many in fact, very precise and selective.
The first thing to say is that every time you will insert a parameter in any of these options in the advanced search, by clicking below on “Search”, ZuluTrade will filter out all the ZuluTrade Signal Provider list below, using as filter the parameter you entered.
You can add the parameters all together, or one at a time, and filter multiple times. To return to the initial situation, just click Reset.
The search is divided into three main blocks:
- The first at the top where you can select the specific conditions you want the research to comply with;
- The second in which instead you can select a range of values with the aid of a bar;
- The third in which instead the reference range values are entered manually.
– Advanced Search – BLOCK 1
– Are in the Top 100: With this option you will see only the first 100 Signal Providers of the rank. This is useful if you want to add other specific conditions, and see if someone meets it and is in a good ranking position.
– Have been rated by traders: Only follower investors with real account can vote the Signal Provider. With this option, you will only see traders who received at least one vote.
– Are not trading exotics: an important option, with which you can exclude all those Signal Providers that trade using also the exchange rates currencies known as “exotic”. Changes on exotic currencies are very risky, in the first place because they are rarely used and the spreads are very high. Consider that some brokers don’t even treat them.
– Have approved photo and description: ZuluTrade retains the right to disapprove a Signal Provider’s picture or the description of his strategy, if openly in conflict with its policy. With this option, you will exclude all those that have not been approved in those two aspects.
– Have live traders subscribers: This option is used to see only those Signal Providers that, in that precise moment, have some Live follower investors linked to their account that are replicating their signals.
– Traded within last week: This option will show you in the rank only those Signal Provider who have made at least one transaction in the last trading week. On the other hand, also those who perhaps are only having a pause for holidays or other reasons, thus have not operated for a week, will not be shown, therefore this is an option to be used with caution.
– Have description strategy videos: we have seen how Signal Providers are encouraged to upload a video description of their strategy. With this option, you can see only those who have done it.
Below you have some other choices marked with icons. We have already seen what these icons mean. They are symbols that ZuluTrade used to classify traders according to different features. We have:
– Green Dollar: Signal Provider is using a Live account
– Blue Dollar: Signal Provider is using a Demo account and has a Live account linked to his Signal Provider
– ZS (ZuluScripts): the Signal Provider uses the new ZuluTrade+ system with the ZuluScript function. This feature allows the trader to host his automatic EA trading strategy directly on the ZuluTrade server. In theory, this system should make the signals replication even more fluid and especially lightning.
– ZuluTrading API: the Signal Provider is sending and managing signals using his own trading program that communicates with ZuluTrade through its API.
– FIFO Rule: the Signal Provider trades in accordance with the FIFO rule and also he does not use hedging techniques on the same instrument (eg, long and short at the same time on EUR / USD)
– Star: This Trader Has an average user rating of at least 4 star.
– Hedging: this provider is trading currelated currency pairs, by using a natural hedging strategy that potentially lead to limited drawdown
– Medal – Zulu Veteran: A Signal Provider that has been trading with ZuluTrade for more than 2 years with a consistently high ranking.
– C: This signal provider is frequently trading economic calendar release!
– EA – Metatrader 4 Expert Advisor: This signal provider trade using an automated trading program hosted on the Mt4 trading platform.
The last two options on the right of the advanced search block 1 will allow you to display only the traders who, thanks to their operations, are in profit (Profitable account) or only those that are in loss (Losing Account). A pretty useless option, unless you are willing to follow in reverse the operations of those Signal Provider with bad performance, but we’ve already talked about the risks of this choices.
– Advanced Search – BLOCK 2
– Running weeks: you can select the minimum and/or maximum age of the Signal Provider. Considering the principle of evaluating only a trader who is at least a year old, we always insert a minimum of 50/52 weeks, in order to see all those who are at least a year old, or that are about to be.
– Max DD %: You can select the minimum and maximum percentage levels of Max Drawdown, but obviously calculated in the not very useful ZuluTrade manner, as we saw in the previous lesson.
– Trader Slippage: the minimum level of slippage up to a maximum of 20 pips, considered both in the complex, both for a specific broker. It should be noted that slippage is present and can only be calculated only if the Signal Provider had follower investors with live account, because in that case ZuluTrade could check with the follower’s broker how much the difference has actually been. So whenever you enter a level of slippage you will automatically exclude those who have not been followed yet by any follower, and that maybe were even worthy.
– Average Pips: the pips earned on average in each operation. It’s a very useful tool for identifying easily those Signal Provider of some specific categories. You can put a low value just to get the day trader, or a high value for those long term or trend following strategies. But remember always that a Signal Provider doesn’t fall into a category only for a specific value, but for the sum of more values and conditions.
– Win %: the winning percentage of the Signal Provider, with the possibility to check the condition only for certain exchange rates. As before, it’s very useful to find or exclude specific categories of traders, but it should not be the only verification method. Every trader must then be analyzed in detail to be sure to have found the characteristics you are looking for.
– Correlation Percent: we have seen what correlations and the percentage ZuluTrade uses to quantify them means. Here you can get a reference range. The higher the percentage, the greater the number of transactions made between changes correlated to each other, and vice versa.
– Advanced Search – BLOCK 3
Just below the 6 bars you can find 2 pull-down menu, which work in combination. In the first menu you can choose to display only the Signal Providers that are trading on certain exchanges, or you can choose to filter and see only the Signal Providers that are not trading on certain exchanges.
You can choose what these currency pairs are in the second drop-down menu to the right. It can be a very convenient option at times. Suppose you have already in the portfolio some Signal Provider specialized in a few pairs, and that you want to find others that just don’t work on the same, because you want to diversify your portfolio in accordance with the currencies used. With this option, you can quickly find alternatives.
Below instead there are the options in which you can directly enter the maximum and minimum reference values:
– Pip: the number of pips, maximum and/or minimum, earned up to that point. This option is very useful, used in conjunction with the Running Weeks, if you want to find Signal Providers with a specific weekly average of pips gained.
– Max DD Pip: the ZuluTrade Maximum Drawdown value is expressed both as a percentage and as an absolute number. Here you can work on a range of values using the absolute one. But remember always that it’s the ZuluTrade drawdown, not the classical one, as explained in the previous lesson.
– Worst Trade: To search precisely for those Signal Providers that have closed their worst losing trade within certain values.
– Best Trade: To search precisely for those Signal Providers that have closed their best winning trade within certain values.
– Max Open Trades: As mentioned several times, this is one of the most important, but to be considered in conjunction with the Signal Provider’s trading style. Here you can search only those Signal Providers who have a Max Open Trade under certain values. You can also filter this data considering all the available time, or even just the last 3, 6 or 12 months.
– NME – Necessary Minimum Equity: We’ve seen what this value means and what are the calculation principles used by ZuluTrade to get it. We have also seen how it is NOT practical to operate the correct management decisions. However, here is your chance to look for those Signal Provider who have their NME in a specific range.
– Number of Trades: With this option you can search for Signal Providers that have opened and closed a specific number of trades, between a minimum and a maximum. As for Pip before, if you use this filter in combination with the Running Weeks option, you can get those Signal Providers that meet a specific average transactions per week.
– Followers: to find those Signal Providers that have a specific minimum or maximum number off follower investors, both live and demo. As said many times, you know this sort of thing is almost totally useless.
– Average Trade Time h: the average duration time of the operations, expressed in hours. This is a very useful option to search for a specific Signal Provider class, especially those that hold transactions open for a long time. But be careful, even those who implement risky strategies such as the martingale can have a very long average trade time, just for the fact they never close their losing operations, that can thus remain open for a long time.
– The last advanced search option is also very useful. You can visualize those Signal Providers with their Best Trade greater or smaller than their Worst Trade. Obviously, the option we prefer is Best greater than Worst, because it’s a first indication that the trader prefers to cut his losses and let his profits run. But please note that this is very common for trader that implements strategies for the medium or long term, but you would like to try instead some of the short-term trader, maybe this option would exclude some worthy.