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For beginners is autotrading the best solution for trading forex. I have chosen some signal providers in zulutrade and when they open a trade, this trade is automatically executed in my account. I prefer this platform than just an EA. In addition there is no fees for using it!
Hope I find here other zulutraders as well.
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Quite honestly, ZuluTrade's trading signals aren't bad (and I'd love to find out how you fare over a 30-day period - keep us posted on your success).
Ultimately, though, your goal is to become a profitable trader on your own, as you won't learn as much by simply piggybacking on other people's strategies, and you never know when a good trader is going to have a losing streak.
To get started, I would recommend that you learn some forex trading basics, and then try to develop your own trading strategy. The best would be to open a demo account and start testing your strategies with fake money (browse through Forex-Central.net and pick out any broker, then click over to their site and download a demo trading terminal - MetaTrader 4 is best).
Personally, I enjoy hedging techniques, as they allow you to profit no matter which way the market moves. Here's a strategy I use which is highly successful - use it on active, volatile days: forex hedging strategy).
www.zulutrade.com
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Many trades are opened and closed in a day from my sps. In advance I have set some manual trades as well.
Think that I have set false settings (max open trades). It is too difficult to review them. Money management knowledge would help me for sure. Any advices are wellcome :)
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Thank you for sharing your strategy.
Although I am a newbie and not so familiarized with reading charts think I have understood it.
I have tested it also in my demo. Wherever the market decides to go, up or down you generate for sure some pips:)
Maybe in a live account profit will be less due to slippage.
My demo account was a mess. I have to create a new one. I added 14 signal providers with different lots and trades, max open lots 40, capital 25.000 and leverage 100:1. I saw my equity to reach 32.000 and then be 28.000. Too difficult to review history of all these trades. Different pairs, lots, positions. At least with this -all in one demo- I tested many and different systems + settings. In my new one I will be more selective.
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fxmat wrote:
Thank you for sharing your strategy.
Although I am a newbie and not so familiarized with reading charts think I have understood it.
I have tested it also in my demo. Wherever the market decides to go, up or down you generate for sure some pips:)
Maybe in a live account profit will be less due to slippage.
My demo account was a mess. I have to create a new one. I added 14 signal providers with different lots and trades, max open lots 40, capital 25.000 and leverage 100:1. I saw my equity to reach 32.000 and then be 28.000. Too difficult to review history of all these trades. Different pairs, lots, positions. At least with this -all in one demo- I tested many and different systems + settings. In my new one I will be more selective.
I would select just 1 or 2 signal providers at a time, maybe for a week at a time, 14 sounds like way to many to make sense of what they're doing!
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You are right. I have experienced this difficulty in defining what they are doing.
I will add 3 providers and set for them 0.1 lot & 2 max open trades which makes me totally 6 open positions. Max open lots 0.6 and everything will be under control. Risk is low & profit will be low as well :(
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You can give a look at their new automatic allocation mode which may help you. You give the risk percentage and settings for providers will be adjusted automatically.
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gerald2 wrote:
You can give a look at their new automatic allocation mode which may help you. You give the risk percentage and settings for providers will be adjusted automatically.
I am with Zulutrade for some time now and can say the automode is working much better now...
also imo the ranking algorithm selects better the signals
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BigFXg wrote:
gerald2 wrote:
You can give a look at their new automatic allocation mode which may help you. You give the risk percentage and settings for providers will be adjusted automatically.
I am with Zulutrade for some time now and can say the automode is working much better now...
also imo the ranking algorithm selects better the signals
Are you still with Zulutrade? How are you finding it... are there any good signal providers you're following?
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hellooo and appologies for seeing your post now!
yes i am still with zulutrade! and to tell you the truth, i have never been better.........November was an awfully sweet in terms of followers profits
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