On March 11 2015 ZuluTrade has announced the launch of a new feature within its platform, the ZuluTrade Social Charts.
The ZuluTrade Social Charts function was built on the ashes of the old Charts tool already provided by ZuluTrade since its beginning. An interesting social feature has then been added to it. According to ZuluTrade…
“We built the essential social tools to enable you to comment, discover and tame the market!”
You have all the currency pairs and CFDs on which you can operate with ZuluTrade, and on each of these charts you can use the social functions.
What is it in essence?
Basically, ZuluTrade has developed a nice comments system categorized by instrument (#EURUSD, #SPX500, etc.) in which users can also give a location inside the chart, marking an exact point by simply clicking on it with the mouse.
The comment, along with a temporal location, will, therefore, also have a spatial location linked to the instrument price.
But not only. The ZuluTrade Social Charts collect and show, directly on the chart, the best trades closed by the Signal Providers you can follow investing with ZuluTrade. You can then view, directly on the chart, who has earned from the trading activity, and where, when and how much.
ZuluTrade Social Charts – How to use them
Here are some of the things (the last really useful) you can do with the ZuluTrade Social Charts.
– Observe the comments and reply
First, you can read everything that has been written by others at particular market times, and as a real social network, you may put a like on a comment, or even better you can reply and interact with the other user.
– Ask your question to the community, or share your points of view
It’s not like you just have to look for others’ comments in order to interact, you can, of course, add your comments in the chart, your questions, your suggestions, your requests for clarification and insights. The choice is yours.
– Interact directly with the Signal Providers you’re following
If you are a Live investor, and you are actively following some Signal Providers, if you find their trades on the chart, you have the opportunity to interact directly with them, asking questions or making considerations on each trade, exploiting the opportunity of comments.
– Discover new interesting Signal Providers
In our opinion this is the most interesting feature. Thanks to the fact that ZuluTrade automatically groups together all the best trades, you have the opportunity to know in more detail the Signal Providers that have closed them.
Obviously, just because a Signal Provider has closed a good trade doesn’t mean he has to be automatically followed. Absolutely not. We must first analyze it in detail, as we show in the Basic Course for ZuluTrade.
However, this function becomes a new and alternative search tool, to be added to the ZuluTrade Advanced search, to find (sometimes) some noteworthy Signal Providers.
Being always a platform more focused on Copy Trading, with this function ZuluTrade definitely takes a step towards Social Trading, increasing the opportunity for users, investors or traders, to interact with each other.
The function is interesting, and, as we said earlier, is definitely useful for finding good Signal Providers in an alternative way.
However, the functionality and the social aspect of the ZuluTrade Social Charts (and of all the platform) are still far from the level of other realities, eToro among all. Not that this is necessarily a bad thing, in fact, we have repeatedly said that the social functionalities have to be just a complement, an extra, to the real investment activity based on Copy Trading, which is based on the professional study of the performance and on the risk assessments.
In this regard, ZuluTrade is still the greatest possible expression.