Zulutrade - How to select a Signal Provider 4/4

We have now arrived at the end of this first voyage for discovering the tools that Zulutrade provides for you to analyze the signal providers.

In this last section I will show you all the boundary elements, provided by Zulutrade, that remain to be considered. Some of these may be very important, other only indicative, but is still worth to take them all into account.

Zulutrade Selecting a Signal Provider 4/4 – Communication to followers

In this section you usually find service information of potential days of vacation of the Zulutrade signal provider, or perhaps related to changes in the setting that would be better to put in place to safeguard your account, in view of some changes in market conditions.

It’s very important to take a look at it. Some signal providers update it regularly, because it’s the only way they can get in touch with followers. As you can see from the attached imagine, in the upper left, it’s also told how old is that communication.

Zulutrade Selecting a Signal Provider 4/4 – Service Buttons

Below on the left, Zulutrade adds two service buttons that are very useful, “Add to portfolio +” and “Share”.

Add to Portfolio+: clicking on this button, you can include that signal provider in your Zulutrade portfolio of signal providers, where you will be given various setting possibilities that we’ll see later.

Share: this button, once clicked, provides you a mask wide a wide range of social network and website, on which you can share the signal provider, and of course the information on the page.

Zulutrade Selecting a Signal Provider 4/4 – Collateral information

Down further, Zulutrade shows a section where you’ll find some collateral information, useful to complete the picture of the signal provider.

First you are told if the signal provider is currently online or not, and therefore if is maybe operating.
The next information indicates if the signal provider trade using the Metatrader, which is the most used trading platform by forex traders. It also tell you if he uses an expert advisor, that is an automated trading system, or if there is a real person trading in front of a monitor.

Last information, obtainable in this Zulutrade section, is the signal provider provides signals using other user names, and what are those names, always of course inside the Zulutrade mirror trading system.

Clicking on a name of these signal providers, you will end up in another identical section, but showing the figures and values of this other signal provider.

Important thing!!! Pay attention if beside the provider’s name there’s the drawing of a bomb. That is the way Zulutrade uses to tell you that those signal providers have been considered as risky.

In fact, if you click on one of these, in the page that will appear, there’s also a red statement (the color of danger) that Zulutrade uses to say “WARNING: This signal provider has a 100% winning trades ratio! This strategy can lead to high drawdown. Be careful !”. There can be other similar messages, that will warm you on the risky operativity of that signal provider.

A signal provider who has a 99% winning ratio means that he never closes a losing operation, and or course this strategy can lead to huge drawdown, please be careful. You really may burn your account!

Zulutrade Selecting a Signal Provider 4/4 – Satisfaction Information

Down further, you’ll find a section where there are some ratings information and feedback, provided by the Zulutrade followers, on the signal provider’s operativity.

This options are usually: “Overall, I gained some money from signal provider’s trades”, “the signal provider’s strategy description corresponded to the strategy followed in my account” and “I would recommend this signal providers to other users”.

These kind of questions can be answered, positively or negatively, only by the followers that operate with real money with the Zulutrade service. The value of these answers is also confirmed by the percentage of followers which have answered in that direction, a percentage that of course Zulutrade shows.

This can make you understand if the signal provider complies with the strategy he described, an evidence directly from the people following him, and make you see if these people are really happy with that results, maybe enough to recommend it.
Then you have a section dedicated to comments from Zulutrade users that follow the signal provider with real money. Next to the comment, which is usually concerning the work of the trader, there is also a satisfaction degree expressed with stars, from 1 to 5.

Zulutrade Selecting a Signal Provider 4/4 – Technical - Operative Information

In the last section, the lowest, are put in evidence some details more operational and technical.

Trades history section

In this part of the page you find the history of the trades made by the signal provider in Zulutrade, with some very specific details. You find every single transaction, listed inside a table, and it’s described for:

Type: buy or sell.
Currency: the currency cross on which the trade is done.
Std lot: the size of the position, calculated in lots.
Date open: date and time when the operation was open.
Date closed: date and time when the operation was closed.
Open/Close: opening and closing price of the trades.
High: the maximum in pips reached by the operation.
Low: the minimum in pips reached by the operation. By combining these two values and evaluating them together at the open/close we can see the range of the operation, from the high to the low.
Roll: it’s the roll over value of the transaction; if it’s not present is because that operation has been close before the closing of the day, if on the contrary is present, this means the operation has been open for more than one day, and the broker, to let that operation on the market, rolled the position and have calculated a value, positive or negative, depending on the interest rate differences between those two currencies.

!!! WARNING !!! There are some brokers that, despite the value difference for the currencies result positive for you, they applies to you anyway a cost in the roll section, even if there should be a profit for you. However, they are small amounts compared to the investment you are doing, but is good to know and to adjust accordingly, if you ask your broker, he will explain you how he calculate the roll and will give you all the information you need.

Profit: the profit earned from that trade, in pips and in dollars
Total: it shows the performance of the signal provider’s account in progression with the trades made. Therefore, it will increase in case of winning operation, decrease in case of negative operation.

Open Positions Section

Using this tab, Zulutrade will make you see if there are still operation open in the market, still to be closed.

As you can see, also to protect the operative technique of the signal provider, these open position are reported and updated with a delay of 1 hour (this is to avoid that people not affiliate with Zulutrade, that have not linked their account to that signal provider, can still follow his signals).

Live Followers Section

This tab shows the coded of the users that are following that signal provider in real with Zulutrade. You have a chart in which are listed the broker utilized by the follower, the country of follower, the Zulutrade user code, and the amount of pips gained.

By clicking on a follower line, it will appear a linear chart on the right, that will compare the follower profits with signal provider profits, so that you can see if they are aligned or not.

I don’t think that this information has a great importance, because we can’t really know if that follower is strictly following the signal provider’s signal, or if maybe is doing something on his own, maybe closing or modifying the stop loss of some operations.
Once click on a follower line, we can see also what other signal providers he is following.

The end.

Filippo

P.S. With this series of articles I wanted to show you how is structured the Zulutrade service. It’s a very well thought out service, which I have of course just partially described.

If you want to know more, just read the other articles that describe the various feature of the Zulutrade service, or watch the free videos of the Follower’s Journey.

Share and Enjoy