ZuluTrade

[tar]

Looking at the grid, sorting by popularity, in the top50 you have 25 Futures systems and only 10 Forex system.
So out of curiosity what makes you say that you can have more subscribers for forex?

Yes , that was my observation last year i could be wrong , maybe this year is different , it is dynamic , it could be because of the lacking of good FX systems lately , but if you have a good Forex system the number of followers would be equal to or more than the futures system i've seen that in the past .

 

[robbert]

Re: My ZuluTrade Adventure

Whats with this Robbert guy? I feel sorry for him.

wtf, who do you think you are btw?
What's your problem with me exactly ??..............

 

[robbert]

its so wrong,lots of people stayed with him as they had lost so much,they were crying and hoping to get it back.Kama is set up to do the same thing. zulu should do something about this. There should be much bigger importance paid to what is written in the profile,and everyone should have to have their settings according to the profile and be aware of what lies ahead

Not exactly, I disagree with you on Kama - he has written a substantial post informing that there is smth wrong on the EAs and his is going to re-write it or smth and that if we do not follow him he will be ok with that In this case if people decide to stay with him, of course, it is not his fault of course.

 

[tar]

Not exactly, I disagree with you on Kama - he has written a substantial post informing that there is smth wrong on the EAs and his is going to re-write it or smth and that if we do not follow him he will be ok with that In this case if people decide to stay with him, of course, it is not his fault of course.

Robbert nearly all of them when it goes wrong they blame the EA !FCC did the same , i honestly suspect if their trading is really automated at all !

 

[Lord Flasheart]

Not exactly, I disagree with you on Kama - he has written a substantial post informing that there is smth wrong on the EAs and his is going to re-write it or smth and that if we do not follow him he will be ok with that In this case if people decide to stay with him, of course, it is not his fault of course.

to admit theres something wrong? is this a real trader then. But credit for him for saying that,so far people are ahead so its good to say that but at the end of the day what I said still stands,he will blow out sooner or later and I dont want that

 

[Lord Flasheart]

Just to add,EAs do not work in my opinion,they are seasonal at best

 

[robbert]

Just to add,EAs do not work in my opinion,they are seasonal at best

well i think there has been a lot of high judgement - I do not expect to be a real trader afterall we are talking about retail forex here, this is the trade-off we give when we loose the 'management account fee' on the account....no can do here but get the best possible outcome .....
when you mean a real trader? what criteria do you have in mind?

true, i guess his season is starting to declining...

 

[Lord Flasheart]

IMHO a real trader is someone who makes regular decisions and doesnt take a trade and hope it will come good eventually. I might be wrong,lets see in time

 

[robbert]

yeah, you have a point there.
Guys for the Turtle EURUSd i was also very suspicious about the trades, so I wrote to support and required an investigation on the matter. This is the answer, and i am quoiting :

" Dear Mr. Robbert ...,

Regarding the trades closed by Provider FXturtle - EURUSD on 17/03/2013 at 21:00:09, please note that behavior noticed (trades closing at the same time but on different rates) is normal when trading with a Demo account configuration.

Please note that AAAFx Demo accounts operate on the basis that Stop/Limits/Pending orders will be always activated at the requested price.
The reason for that is being Demo accounts they do not depend on the current market price - so on Demo MT4 accounts the assumption is made that all trades will be filled in and executed as per request.

So on this case, at market opening EUR/USD had a big gap - so the set stop of these 5 days had been exceeded, and hence AAAFx indicated all trades as closing at their respective set Stop.

This phenomenon appears on Demo accounts only - on Live accounts execution will of course need to follow and align to the current market conditions.

Hope this clarifies the closing reason and rates of the particular trades. "

I found it quite logical, after all demo accounts are different from live.......on the meer fact that risking money is much more serious...

 

[tar]

yeah, you have a point there.
Guys for the Turtle EURUSd i was also very suspicious about the trades, so I wrote to support and required an investigation on the matter. This is the answer, and i am quoiting :

" Dear Mr. Robbert ...,

Regarding the trades closed by Provider FXturtle - EURUSD on 17/03/2013 at 21:00:09, please note that behavior noticed (trades closing at the same time but on different rates) is normal when trading with a Demo account configuration.

Please note that AAAFx Demo accounts operate on the basis that Stop/Limits/Pending orders will be always activated at the requested price.
The reason for that is being Demo accounts they do not depend on the current market price - so on Demo MT4 accounts the assumption is made that all trades will be filled in and executed as per request.

So on this case, at market opening EUR/USD had a big gap - so the set stop of these 5 days had been exceeded, and hence AAAFx indicated all trades as closing at their respective set Stop.

This phenomenon appears on Demo accounts only - on Live accounts execution will of course need to follow and align to the current market conditions.

Hope this clarifies the closing reason and rates of the particular trades. "

I found it quite logical, after all demo accounts are different from live.......on the meer fact that risking money is much more serious...

No that's not logical at all ! That's a big flaw in the system which means all these statistics and rankings are unrealistic and unreliable !

 

[wackypete2]

Simple solution to all this is to not allow providers to use demo accounts. If a provider's trading is extremely risky them let them blow their own accounts along with their followers. Of course this doesn't make business sense for zulu.

Just my opinion here, but I used to think the intention behind zulu and other similar sites was reasonable with some flaws. All this thread shows is that they are just scam enablers that collect a vig on each scam. However, I still put much blame on the followers since it wouldn't work without them.

Peter

 

[Lord Flasheart]

Simple solution to all this is to not allow providers to use demo accounts. If a provider's trading is extremely risky them let them blow their own accounts along with their followers. Of course this doesn't make business sense for zulu.

Just my opinion here, but I used to think the intention behind zulu and other similar sites was reasonable with some flaws. All this thread shows is that they are just scam enablers that collect a vig on each scam. However, I still put much blame on the followers since it wouldn't work without them.

Peter

You are of course right wacky,but I wouldnt go as far as to say they are scam artists.They do score live accounts more and I guess when they started they envisaged lots of high class city traders joining them. Either way you are right that they should lose their own money,but then as you say there wouldnt be many left,just me a few others trying to do the right thing. also I dont think anyone else is much better

 

[brettus]

to admit theres something wrong? is this a real trader then. But credit for him for saying that,so far people are ahead so its good to say that but at the end of the day what I said still stands,he will blow out sooner or later and I dont want that

Kama will blow up eventually. We all know it. The reason he closed out his losses on 30th March was just because he wanted to make sure he got paid his commissions.

One thing I will say about Kama. Is he's not a scam artist. He's just trying to make a living or money off people who are less educated stupid people who shouldn't have money in the first place. This is the way of the world already. The biggest scam is Zulutrade itself allowing demo traders to earn money off ignorant people, plus they get at least 2/3 of the share. Fair play to him. I don't feel that he has any obligation towards his followers to make them money.

 

[tar]

Kama will blow up eventually. We all know it. The reason he closed out his losses on 30th March was just because he wanted to make sure he got paid his commissions.

One thing I will say about Kama. Is he's not a scam artist. He's just trying to make a living or money off people who are less educated stupid people who shouldn't have money in the first place. This is the way of the world already. The biggest scam is Zulutrade itself allowing demo traders to earn money off ignorant people, plus they get at least 2/3 of the share. Fair play to him. I don't feel that he has any obligation towards his followers to make them money.

Apparently you were right about this demo slippage , Zulu's response was shocking really , the whole system is questionable now , alot of improvements are needed here , Zulu are like any typical commission hunting Forex operation "accounts churning" there are many of these but not online . Re Kama yes he has no obligation to make his followers any money , but we criticise his greediness and his irresponsible trading , i dont care if that was justified because he wants to make a living or because his followers are ignorant or greedy like him , he still don't know how to trade properly and he's irresponsible . He cant beat FCC's smooth record and look where's FCC right now ?

 

[Brumby]

Kama will blow up eventually. We all know it. The reason he closed out his losses on 30th March was just because he wanted to make sure he got paid his commissions.

I don't feel that he has any obligation towards his followers to make them money.

You can't sustain a milking model unless your followers make money. They are his golden goose. It is in Kama's interest to try to deliver except we know it is on the back of an inherently risky trade model with the real possibility of a blow up when probabilities catch up.

Whether it is greed, stupidity or ignorance everybody gets their fair share of what is due - eventually. In the interim, Kama and his followers are happy campers.

 

[brettus]

You can't sustain a milking model unless your followers make money. They are his golden goose. It is in Kama's interest to try to deliver except we know it is on the back of an inherently risky trade model with the real possibility of a blow up when probabilities catch up.

Whether it is greed, stupidity or ignorance everybody gets their fair share of what is due - eventually. In the interim, Kama and his followers are happy campers.

For most gamblers, it's not about winning or losing. It's about that adrenaline rush. Everyone gets what they want out of it. The follower's get their excitement out of winning and Kama is the lottery winner for the next few months. We'll get another lottery winner I'm sure later on, once Kama blows up. I'm sorry but I have no sympathy towards the followers. It's pretty obvious Kama is a terrible person to follow. If anything It's zulutrades fault for glorifying his reckless strategy.

 

[robbert]

For most gamblers, it's not about winning or losing. It's about that adrenaline rush. Everyone gets what they want out of it. The follower's get their excitement out of winning and Kama is the lottery winner for the next few months. We'll get another lottery winner I'm sure later on, once Kama blows up. I'm sorry but I have no sympathy towards the followers. It's pretty obvious Kama is a terrible person to follow. If anything It's zulutrades fault for glorifying his reckless strategy.

hello zulu-spammer It totally shows who are via your posts.
You do not even have a viable account there ..xaxaxa and you are bound to an opinion?

AGAIN, IF PEOPLE ARE NOT WINNING THEY WILL NOT STAY WITH ZULUTRADE. SIMPLY WILL MOVE THEIR CAPITAL SOMEWHERE ELSE....like this casino pages or betting on dogs, horses and dunno what else. simple as that!

 

[brettus]

hello zulu-spammer It totally shows who are via your posts.
You do not even have a viable account there ..xaxaxa and you are bound to an opinion?

AGAIN, IF PEOPLE ARE NOT WINNING THEY WILL NOT STAY WITH ZULUTRADE. SIMPLY WILL MOVE THEIR CAPITAL SOMEWHERE ELSE....like this casino pages or betting on dogs, horses and dunno what else. simple as that!

I know so much more about Zulutrade than you do. It's obvious that I have an account there. Why would I have so much interest in it, or even bother talking about it?

You've hit the nail on the head right there. Zulutrade is just another gambling shop. You've said it yourself, but yet you have so much respect for the SPs on there. It's a casino after all.

 

[robbert]

I know so much more about Zulutrade than you do. It's obvious that I have an account there. Why would I have so much interest in it, or even bother talking about it?

You've hit the nail on the head right there. Zulutrade is just another gambling shop. You've said it yourself, but yet you have so much respect for the SPs on there. It's a casino after all.

First of all, if you really have a live account there post your results, it will be rise your credibility

as it comes for the SPs, lets not put words that i didnt use - i have respect for the business model and what it offers, but for the SPs i have nothing more that to get their profit for the good time they are trading thats my strategy...,most of them have no idea whats going on, but doesnt really matter - should i wanted that i was going to go to a management accounts and pay % fee. So, I guess it is simply a trade off, one way or another.

 

[The Artist]

Kama does not need to sustain his model.
He's had 20m in following for a month now. At 1% per trade, 200 pips SL, that's $500 per trade in commissions. 50 trades a month that makes it $25,000 which is twice the annual income in Russia.
Add to that his other account Saved FX that we know of, and possibly previous and/or future accounts that we do not know of, and there's no reason for him to care about probabilities catching up really.

Providers like forexazul, x trading, pipnow25, and the_best_player racked up millions in following after 5/6 weeks using the same template as Kama so it is obvious that followers' devotion to the rankings system and herd mentality combine such a degree that these guys no longer need to think about the medium to long-term implications of their strategies.

But read the first page of this thread and you'll see that it's always been like this since the beginning.
It's all supply and demand, Zulutrade is not more to blame or condemn than the Bellagio. Most people cannot understand the probability of hitting red at roulette so you can't expect them to understand trading risk management.

Those who complain for losing money are the same who would sue McDonald's for being fat.