I am quite sure many of you know about the zulu social trading platform. Just for a quick introduction, Zulutrade is a social trading platform that connect professional traders with new/inexperienced traders. The professional traders send out the signals while followers copy the trades automatically into their own meta 4 platform.
Let's go straight to the point.
Many of us know that most zulu signal providers have very high draw downs and that's why they don't have many followers. Followers detest to follow signal providers with relatively high draw downs and low percentage of winning trades.
I want to explain to you a strategy that can earn you thousands of pips in a few weeks with the zulu system.
When selecting a signal provider in zulutrade, you have to take note of the following:
• Your account equity
• The draw down(Worst trade) for a single trade by the SP
• Number of trades completed
• Winning trades Percentage
Those are the major criteria required to select a good signal provider.
Following my research, a signal provider with a draw down of lees than 500 pips per trade, at least 100 trades completed, and 98-100% winning trade is a good signal provider.
You've selected your signal provider, you have to set everything up in the setting stab. Navigate to your settings and select the SP you just followed.
Look under your portfolio and scroll the bar from less to more as shown in the image below:
This opens up a wide variety of options including the offset pip setting which allows you to take advantage of the huge draw downs of the Signal providers.
Most SPs with 98-100% winning ratio have high draw downs and you can take advantage of this by adding a value to the offset box of the SP.
Choose a value for the offset according to the trading behaviour of the SP. For instance, a signal provider with a worst trade of -450pip will likely reach an average of -50 in every position he opens.
A Signal provider with a worst trade of -650 pip will likely reach an average of -150 pip in every trade he opens. This is just a research example and not absolute.
You can go ahead and allocate the lot size and leverage you need for the trade. Save your settings.
From now, once the signal provider opens a new trade, whether a bullish or bearish, it will open as a pending order in your own account until the value of the offset is met. With this, the whole draw down of the SP becomes your own profit.
Here's another trick especially if you have a large account balance.
If you have an account balance of up to $10 000, follow these steps and reap huge amounts of pips:
• Select up to 20 signal providers with a winning ratio of 98-100%(because they have high draw downs).
• Allocate a value of 150 pips for each of the SPs for the offset and use 1 mini lot with a maximum of 1 open trade for each SP.
• Go down to your account settings and input 10 mini lots as the Max open mini lots.
• Save your settings. (NB: You are free to adjust the above settings according to your wish. I just want you to understand the whole idea).
Please remember that you have to minimize risk by setting the maximum open lots to your wish. But, if you leave all 20 mini lots open with high offset pip values for each SP, it will also help to minimize risk and at the same time profitable. It's left for you to decide either to use the offset pip setting as a risk controller or using the maximum open lot setting.
If you have difficulty selecting good signal providers, i can help you select them. Just open a live account with my affiliate url, and receive only the best signal providers which i have selected for you.
Please ask me any questions based on this matter, I'll be glad to help out.