The world of trading is considered to be a magnificent and intelligent place where, due to some incredible feature, traders now have the option of following a successful veteran trader and not only copy its movements on the trading chart, but also its professional attitude when it comes to investing, buy and selling and this will generate a fair amount of money. What you need to know is who should you follow? Well, the answer is rather simple, below you will find all the details required in identifying the ideal ZuluTrade trader best suited to your needs. We have collected the best tips and tricks for Zulutrade newbies in this article.
What you should know about copy-trading
The first golden rule of copy trading, also known as the a general rule of trading, is that a trader that you want to copy and that has a small drawdown always has a low amount of risks taken and this, in turn, generates some of the biggest returns, because taking risks is not a thing that you want to copy. However these risks can be either gambling huge or small sparks, we recommend copying those that only use the smaller ones.
Open the advanced menu to customize all the details: Here is where you have a wide array of options available for you to choose from and they can be customized again and again until they match all of your specifications, just be sure to open the advanced menu.
Here are some smart tips and tricks for Zulutrade to follow when choosing your signal provider
Always be sure to search far and side for a trader with a decent proven and profitable past track record. Here are some suggestions:
- We recommend selecting those that have at least 12 months behind them.
- Keep an eye open after a trader that has a low as possible historical drawdown. We recommend it to be under the value of 20%.
- Be sure to identify a trader who boasts high average pips per trade gains. If you fail to follow this rule you will quickly come to discover that you are losing too much on slippage.
- Make a research to find out if the signal provider either trades manually or uses EA, respectively an automated system. We recommend copying manual trading over automated.
- Find a trader who makes use of a short-term strategy and knows how to manage sharp stop levels.
- Identify a trader who opens only a limited amount of trades because this drastically reduces drawdown.
- Do a little research to find out if the signal provider is trading live with real money or he is trading in demo mode.
- Search only for a trader boasting a crystal clear description of their trading strategies and avoid all kinds of marketing expressions or tactics.
- The right trader to copy is the one who is careful, always ready to adjust their positions and intercept their automated trader when the market requires this to do so.
Explore many traders – the best tips for Zulutrade newbies
Conclusion Tips and tricks Zulutrade: We believe that exploring as many traders and strategies as possible is the key to a clean success. Fortunately, ZuluTrade has some of the best traders on the global trading market whose strategies are ideal for copying and securing a successful and rewarding experience on the trading market. You can use a demo account and try out as many traders as you want. We hope that these tips and tricks for Zulutrade best traders will help you to become successful.