Getting Started
Before we get started we would like to welcome you to our members area and explain how to best use this site. First of all there are 2 main websites that you will have access to. This website is information based only. It is best used to view our recommendations and statistical information on signal providers and to view sample portfolios. Our other site, as you may already know is www.ZulutradeUSA.zulutrade.com which you will use to manage your trades, signal providers, profile, etc.
As you know, trading foreign currencies (Forex) can be very risky. Our ongoing effort is to provide you with a list of signal providers that have proven to be profitable in our own trading accounts. You are free to use the providers that we have chosen or you can choose providers of your own. We are only providing a guideline of what we have found to be profitable.
We strongly suggest that you start out SMALL and set up a Micro account. As a very quick overview there are 3 types of accounts - Standard, Mini and Micro. Depending on which account type you choose, the Pip value will be different on each type of account. A pip is simply the minimum movement upward or downward of the currency pair (this will be futher explained in the FAQ section of ZuluTradeUSA). On many of the major currency pairs, the pip value is as follows:
Standard Account - 1 Pip = $10.00
Mini Account - 1 Pip = $1.00
Micro Account - 1 Pip = $.10
The biggest advantage of choosing a Micro account is that you have the flexibility of choosing more signal providers and spreading out your risk. As an example, if you have set up a Micro account and each Pip is worth $.10, you can specify 10 in the number of lots that you are trading which would be identical to a 1 lot trade in a mini account. A 100 lot trade in a Micro account would be identical to a 1 lot trade in a Standard account. This works out great if you have a signal provider that you are very confident with, you may specify a 10 lot trade in your Micro account and if there is newer provider that you would like to use, but not overly confident with him, you my choose to allocate only 1 lot to him. In our sample portfolios, we are basing all of our trade lots on Micro accounts.
You can access the "Forex Brokers" tab to the right to get a listing of our affiliate brokers and which ones will allow you to open a Micro account. If you are currrently using one of these brokers already, there is no need to set up an additional account. Complete details are available in the FAQ section once you enter the ZulutradeUSA website.
Once you are ready to set up a demo or a live account, you can access www.zulutradeusa.zulutrade.com where a wealth of information will be available to you. You will be able to add/remove/research signal providers within your portfolio, obtain technical support, change your customer profile, view your trade records, access the FAQ section, etc. Everything will be explained in much more detail once you enter the site.
Avoiding the Pitfalls
1) Set limits: Allocating too many lots to any one trader can cause significant losses in your account should they have a series of negative trades. Several of the signal providers may execute up to 30 trades similtaneously and if you do not keep a limit on this, one provider can use up all of your capital and even worse, can cause a margin call in your account.
2) Select a limited number of signal providers: Select only a few signal providers until you get into the flow of how the system works and how orders are executed. Because we only select very high quality signal providers who have tremendeous track records, it becomes very tempting to want to add too many of them to your portfolio. Because many of the signal providers go for small gains, they open and close several trades over the course of a few hours. If for example you have 5 signal providers selected and each of them execute 5 trades in one hour you will can potentially have 25 active trades working at the same time.
3) Limit creapage by setting stops: No signal provider is perfect. From time to time they do get trades that go against them and they wind up having to hold onto these trades for extended periods of time in order to allow the trades to come back in their favor. As these trades creap into your account they begin to absorb your capital. We have one simple solution, put stops on all of the providers that you select.
4) Don't base your overall decision on choosing a signal providers by their "Winning Trade Percentage". You will find that some providers will never close out their losing trades. They will let the trades run indefinitely in order to keep their perfect record. There is nothing more frustrating than getting caught by one of these guys. Always set stops on your signal providers.
5) Depending on what account type you have (micro, mini, standard), take a very conservative approach when allocating funds to each of your providers. If I am trading a micro account, I will allocate $80 for each lot I trade ($800/lot for mini accounts). I feel this amount keeps me a comfortable distance from getting a margin call.. Allocating too much can trigger a margin call in your account, should a series of trades go against you.
6) Review your trades. From time to time it is possible for erroneous trades to show up in your account. Spend a few minutes each day to verify that the trades are accurate. On a few occasions, I found trades that got triggered for a signal provider that I had disabled.
Now it is time to have some fun. Click on a link to the right to open a Demo Account and select some of the signal providers that we have recommended and see how well you can do. Your demo account will start at $50,000 and is based on standard lots. At this point in time, the Demo Accounts will not allow you to trade mini and micro lots.
In less than a week, by setting up the portfolio listed below, I was able to grow my demo account from $50,000 to over $60,000. Believe it or not, I was taking a fairly conservative approach. Email us your beginning and ending balance of your demo account by Saturday each week and we will post the results on the home page. Email your results to results@zulutradeusa.com
| Signal Provider | (Standard) Lots Multiplier | Max Total Open Trades |
| The Hunter | 1 | 3 |
| Tech Trading | 1 | 1 |
| SURFING | 1 | 3 |
smart forex |
1 | 3 |
| sharp forex | 1 | 3 |
| Pro-B5 | 1 | 3 |
| king trade | 1 | 3 |
| Donnalife Consulting | 1 | 3 |
| Cheetah | 1 | 3 |