Part 3 of 3 of Signal Provider ZuluTrade
We are left with the last part of a ZuluTrade Signal Provider’s personal profile, that is everything we can find under the “Check my Moves” section.
What others say about me
This is the section where the social aspect breaks into the Signal Provider’s profile page, or, better to say, in ZuluTrade itself. Here you can find out what actually the followers investors think about the Signal Providers they have or they are following.
First consideration to make: only the follower investors with live accounts have the opportunity to vote and comment, and we think this is fair. Only those who actually had real social trading experience with that Signal Provider has the right to comment.
In the block at the top you can find three statements with respect to the Signal Provider:
1) Overall, I gained some money from This SP’s trades
2) This SP’s strategy description corresponded to the strategy followed in my account
3) I would recommend This SP to other users
For each of these statements, the live follower investor has the option to answer with a number of stars, from 1 to 5. The more stars, the higher the level of appreciation according to that particular claim. One star means the follower investor, after his experience with that Signal Provider, agrees only for a 20% with the statement that is voting, 2 stars for a 40%, 3 for a 60%, 4 for a 80%, 5 for 100 %. The average ratings among each statement creates the specific vote for that specific claim, while the average of the votes among the final three form the overall score given by the users to that Signal Provider, which is the Trader Rating, located on the upper left in this part of the profile.
You already know what we think of other’s users vote, ie that they are not relevant for a concrete performance evaluation, both if positive or negative. However, we can say one thing. If you really want to consider them, check the upper right corner how many have voted. As in all things, if the votes are many, there is more chance that they return a likely situation.
The follower investors’ comments
Below you have the space for the comments left by the live follower investors. When a user votes, he has also the option of leaving a comment on his profile about the work of that Signal Provider, about his personal experience, maybe also to give advice or to ask direct questions. Everything that is written is reported here, along with an average of the star votes the user have left when he commented.
Let’s suppose you are analyzing a really good Signal Provider, most likely in the comments you’ll find someone who praises his talents, but for the most part you will find negative comments from follower investors who have left him criticizing his strategy. Usually this happens because a user thought he wasn’t earning enough, or because he started to follow him at the wrong time, maybe at the beginning of a drawdown, not considering on the other hand that probably he was risking very little thanks to that Signal Provider. So he left him, leaving a negative comment, going in search of some Signal Provider with who he can earn more money, but with who he will also risk more, very often with a negative ending.
I have a personal desire. I wish that all those users to whom something like this happened to come back on their steps and correct their votes and comments. I know, it’s impossible.
Many times, however, some follower investors are not entirely inexperienced, and once they realized they are following a risky Signal Provider, they abandoned him denouncing the bad strategy. At other times, instead, comments can be useful for considering things that perhaps you would had not think about or that you forgot to take into consideration.
You must first reason by yourself, do all your analysis based on professional studies, and then maybe, at the end, take a walk here in the comments, and see if something unusual or interesting shows up.
Clicking on Trading History you can view a complete list of all the operations executed by that trader. Each column corresponds to a specific detail:
– Currency: the currency exchange on which the transaction was executed.
– Type: The type of operation performed, if Buy or Sell.
– Std Lots: Standard Lots. The amount of lots used by the Signal Provider when he opened the transaction on his account.
– Date Open: the exact date, comprised of minute and second, on which the trader opened the operation
– Date Closed: same thing but for the closure
– Open/Close: the price at which the transaction was opened and then closed
– High: the maximum amount of profit in pips achieved by the transaction
– Low: The maximum drawdown in pips achieved by the transaction
– Roll: The interest accrued from the operation remained open over one day (it can be positive or negative depending on which was the currency bought and which the sold one)
– Profit: the amount of pips of profit or loss realized, and the corresponding monetary value based on the lot size at which the trade was opened.
– Total: the total balance at the closure of the operation, both for pips and for money.
NOTA BENE: you may have noticed that also the lot size with which the Signal Provider opens his operation is showed. Very often you will find that the lot size is always the same, but sometimes not. You, however, will always be interested on the level of pips gained only, because the lot size with which you will replicate those Signal Provider’s trades will be decided by you, and it will be constant as long as you will keep the same settings.
We are left with “L” icon, the first on the left. By clicking it you can get a taste of the absolute professionalism with which ZuluTrade shows the data and performance. Here you can find the graphical story of each operation, with a chart that shows you where and when it was opened, when it reached its maximum (high) and where, as well as his minimum (low) and his closure. For the analysis addicted, this is definitely a unique opportunity.
This list of operations can be ordered at our own pace. Just click on the title of each column to arrange the trade according to that value, either in ascending or, clicking again, in descending order. You’ll see how from this possibility a lot of useful analysis and considerations can arise for the creation of your strategy.
With “Any Currency Pairs” you can filter the long list and display only the operations performed on a single currency exchange, or on a combination of several.
In this tab you can see if there are and what are the details of the transactions that the Signal Provider has still open in the market at the time you’re analyzing.
The last tab in this profile section is dedicated to the follower investors who are replicating, or have replicated, the signals of that Signal Provider with a live accounts.
You can find various details, including the broker they use, their ID number, how many pips they have gained from that traders and how much money they earned.
By clicking on any of these then, you open another section to the left, where you can see a chart with two little equity, one of the trader’s performance in pips, one of the follower’s performance in pips, to see if they are homogeneous or not. If they are not, it may depend on both the slippage or on the settings chosen by the investor to modify the Signal Provider’s operation.
Below you have news related to the Margin Call -o- Meter of that follower investor, and even an accurate list of who else is following that moment, and those who have followed in the past. ZuluTrade really is a treasure of information, almost nothing is hidden, everything is in favor of transparency.
Export to Excel
Finally, we want to talk of Excel.
Probably the most useful ZuluTrade feature is this, ie the ability to download the entire Signal Provider’s transactions list with all the details that you’ve seen so far (and some other), but in an Excel format.
What does this mean?
If you know Excel just a little bit, you know that with this program you can make your analyzes and studies on a really professional manner. You just need to know what to look for and how to use the tool, in order to move from beginner to expert, and obtain from data the competitive advantage that only the professionals get. The Investing GOLD area and some of its tools were created thanks to this possibility in particular.
Connecting a Signal Provider to your account
At this point, you have analyzed far and wide the performance of a ZuluTrade Signal Provider in his personal profile, you know every detail of the results that his strategy can produce, and above all the risks that you can expect.
Finally, you have decided what Signal Provider to choose, even if only in demo for the moment.
It’s time to click on the “Follow” button. Once clicked, a window pup up.
In this window you can select the “Follow mode”, whether fixed or Pro-Rata, as we discussed earlier, and the relative Lot Size or percentage.
If you came to this point, it should mean that you already know what this Signal Provider should manage in your account, so you should already have well clear the lot size or the percentage to insert. If not, or if you still want to add him to your portfolio and resume later, just enter the minimum possible lot size (0.01 standard lot, or 1 micro lot), confirm the operation by clicking the Follow button, but then immediately run in the your account settings to disable the signal Provider, otherwise you will start to replicate his signals.
However, before clicking on “Follow”, you must be careful with other three elements of this pop-up window.
You can already set the Max Open Trades limit, and ZuluTrade will suggest a value based on the all-time high that the Signal Provider has had up to that point. For now, it’s good to leave that number, not to allow the trader to do nothing more than what he has done until now. Then, you may consider whether to grant an operation more to the Max Open Trades, to let a little more room to maneuver, but only if you really trust him.
WARNING!!! Pay close attention to the Open Current Trades. Here you can see the Signal Provider’s open market operations at the time you are connecting him, with the main details, and with the amount of pips gained or lost. By leaving the flag on the operations, and then confirm by clicking “Follow”, ZuluTrade will open automatically those same trade in your account. Obviously, the opening price of your trade will never be the same as that of the Signal Provider, unless the operations of the traders would be at break even, and therefore the opening prices would be the same at that time. Otherwise, your broker will never open up an operations with a price that is not beaten at the time, it would go against any logic.
It could make sense, in some cases, to open the same operations already opened by a Signal Provider if they were at a loss, maybe very close to their stop. If the trader should close them with a stop loss, you would lose just a few pips. But if, by chance, they would be recovered, your profit will be much greater, because you would had opened them at a much better price. If you are not yet very well versed with this reasoning, the principle that it is always right is to start from scratch, ie without opening the operations already open. Remove then all the flags from thje operations before clicking “Follow”.
Final point, another flag you have to be sure NOT to have accidentally entered is “Reverse all trades”. With that option selected, ZuluTrade would say to your broker to open the trade already opened by the Signal Provider, but in reverse. One thing you definitely don’t want to do.
How to open a Demo account
“My account” sections
Trailing Stop, Offset Pips, ZuluGuard
Signal Provider pt.1
Signal Provider pt.2
Signal Provider pt.3
How to open a Live account