Once again about proper choice of the providers for ZuluTrade live account.
One of the participants of ZuluTrade Paul Howarth tried to systematize the сriteria and requirements to be considered when selecting providers for the live accounts.
So what needs to take into consideration when choosing providers:
* Find providers who average 3 hours or less per trade.
* Find providers with live users.
* Find traders with over 100 trades and a win % over 90%(I think more then 75%).
* Make sure the signal providers use stops.
* Restrict the amount of open trades each provider can open.I use two max per signal provider.(Breaking this rule can cause a fast margin call and force your broker to close loosing trades with out notice).
* Keep your meta trader open just in case the web site has tech issues.
* Open a mini account and trade small lots until you understand how your signal providers trade.
* Start with a Demo account.
Avoid
* New signal providers.
* Signal providers with less than 100 winning trades.
* Signal providers with Large Max Draw Downs.
* Providers who don't use stops.
* Traders who are in trades for days (You can look up their open trades and see how long they have been open).
So what needs to take into consideration when choosing providers:
* Find providers who average 3 hours or less per trade.
* Find providers with live users.
* Find traders with over 100 trades and a win % over 90%(I think more then 75%).
* Make sure the signal providers use stops.
* Restrict the amount of open trades each provider can open.I use two max per signal provider.(Breaking this rule can cause a fast margin call and force your broker to close loosing trades with out notice).
* Keep your meta trader open just in case the web site has tech issues.
* Open a mini account and trade small lots until you understand how your signal providers trade.
* Start with a Demo account.
Avoid
* New signal providers.
* Signal providers with less than 100 winning trades.
* Signal providers with Large Max Draw Downs.
* Providers who don't use stops.
* Traders who are in trades for days (You can look up their open trades and see how long they have been open).
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