A new way to trade and make money in the foreign exchange market has arrived. Zulutrade connects professional traders with people who want to make money in forex by following these traders. This is called a signal provider/follower relationship. There are thousands of signal providers to choose from and a follower is free to select any of them.
It is free to follow any signal provider and the signal provider earns money from broker commissions. For every trade the signal provider makes a broker will pay them a commission for the signal followers business. In this way a good trader is able to attract a good following. To follow a signal provider first you need a forex broker. It is easy to join a broker from zulutrade itself.
How it works?
It ranks all of the signal providers from one to over a thousand. The lower the number the better the signal provider has performed. If a signal provider can earn top rankings they can earn a very decent living.
To follow a signal provider you will first have to open an account. You have a choice of 2 types, a live account using real money or a demo account using play money. If you are new you should select a demo account until you are confident with the system. Once you have an account you will be able to select from any of the systems available.
At the beginning just chose one signal provider, and when you get more familiar with the system you can add more. Once you have selected your signal provider you are faced with a choice of how you wish to trade. You have 2 choices automatic and custom.
Automatic means you set your risk and the terminal sets your lot sizes for you. It is better to select a low risk setting as it is safer, it is tempting to set the risk setting to high because you can see the potential to make a killing. However with high risk setting you are more likely to lose your money rather than make it.
When you use the custom settings you have the ability to control your chosen system. This has many advantages such as stopping you going bust while making you substantial profits. You control this through lot sizes, limit orders, stop losses and more. This takes some time to learn however the rewards are worth the effort.
Newcomers should first use the auto button. This will allow you to learn how the system works and give you the confidence to move on to the custom mode in time.
More experienced traders can start on the custom settings and one of the best features of Zulutrade is the backtest facility. You can use this to find out how your signal provider would have done over a previous time frame with the settings you have selected.
By using the back testing feature you can learn about lot sizing and stop losses. This will help you choose the correct settings for your accounts.
Using Zulutrade offers a way of trading that takes a hands off approach. This means that many people can start to learn forex the easy way.
It is free to follow any signal provider and the signal provider earns money from broker commissions. For every trade the signal provider makes a broker will pay them a commission for the signal followers business. In this way a good trader is able to attract a good following. To follow a signal provider first you need a forex broker. It is easy to join a broker from zulutrade itself.
How it works?
It ranks all of the signal providers from one to over a thousand. The lower the number the better the signal provider has performed. If a signal provider can earn top rankings they can earn a very decent living.
To follow a signal provider you will first have to open an account. You have a choice of 2 types, a live account using real money or a demo account using play money. If you are new you should select a demo account until you are confident with the system. Once you have an account you will be able to select from any of the systems available.
At the beginning just chose one signal provider, and when you get more familiar with the system you can add more. Once you have selected your signal provider you are faced with a choice of how you wish to trade. You have 2 choices automatic and custom.
Automatic means you set your risk and the terminal sets your lot sizes for you. It is better to select a low risk setting as it is safer, it is tempting to set the risk setting to high because you can see the potential to make a killing. However with high risk setting you are more likely to lose your money rather than make it.
When you use the custom settings you have the ability to control your chosen system. This has many advantages such as stopping you going bust while making you substantial profits. You control this through lot sizes, limit orders, stop losses and more. This takes some time to learn however the rewards are worth the effort.
Newcomers should first use the auto button. This will allow you to learn how the system works and give you the confidence to move on to the custom mode in time.
More experienced traders can start on the custom settings and one of the best features of Zulutrade is the backtest facility. You can use this to find out how your signal provider would have done over a previous time frame with the settings you have selected.
By using the back testing feature you can learn about lot sizing and stop losses. This will help you choose the correct settings for your accounts.
Using Zulutrade offers a way of trading that takes a hands off approach. This means that many people can start to learn forex the easy way.
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Find out how to make forex trading profits as an auto forex trading and make profits on auto pilot. Or Learn forex trading basics at my website forextradingtutorial.biz and start your forex trading tutorial.
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