Other Peoples’ Money: Most ZuluTrade Signal Providers Don’t Get It.

I really mean this from the depths of my intelligence and from the bottom of my heart (a double whammy), that many ZuluTrade signal providers are just so unconcerned with our bottom line next to looking really good to us so that we may try them.  Knowing just a tad about business ethics from university, I know that when you trade with other peoples’ money that you owe them quite a bit of transparency and quite a bit of respect.  Is that evident in Zulutrade as a signal provider opens 15 of the same trade just to make 15 times the commission he would have done if he were a responsible money manager?

Not to say there aren’t fraudsters everywhere even in legitimate businesses, but it goes to the heart of the matter: avoid signal providers that open the same trade over and over A) to inflate their pips earned in their reporting and B) not make $0.40 off your trade rather $4.00 – times 1000 followers, these signal providers are making more than you and me combined on each trade and we usually have to win to earn, signal providers win whether we win/lose/draw!  I am not complaining at all about the service however, ZuluTrade is a very unique and useful tool in the hands of professionals, but quite literally anyone can become a signal provider on there and the smart ones know how to work the system, clearly but to who’s benefit if they just keep sticking around losing fortunes for real traders like you and me?

Look at this guy’s results, is he a trader or out to make money off of us?  You decide.
But I can share with you some of the comments despite this monstrous equity curve at +30,000 pips!

Who is to blame though: ZuluTrade for creating the competitive atmosphere or the Signal Providers finding the need to compete so much that they enter trades they would never have, they open more positions than most any mortal trader’s account could handle at once, and the worst of all, they hold on to trades for days, months, weeks, LOSING TRADES in the hopes they’ll one day go their way, why?  So that their win percentage is not tarnished.  So I think it is most definitely a mixture of both: Signal Provider’s ignorance toward OPM and Zulu trade creating this atmosphere: the “TOP” signal providers in their opinion being the ones that are the most reckless and most profitable; usually the most reckless who are not profitable are showcased and avoided, but not ones that make an inexplicable amount of pips in a week entering hundreds of trades.

In the end, I love ZuluTrade, use it every day, I just wish they would effect some changes over there in their top signal provider list to let signal providers that don’t fit their standard of being “the best” is or is not, or better yet let us decide some how.  My idea of a perfect signal provider is not one that I can make a fortune with, rather 5 or 6 that have sound strategies, with tight stop losses, not necessarily a great win percentage but much more pips gained than risked in any moment.

It’s really not about quantity (at least in this sense) it’s about quality and consistency, consistency in quality!  In that lies ZuluTrade’s saving quality that makes me use it regularly is the fact that they are a third party monitoring service of signal providers that make it incredibly easy for we traders to see what is going on with the people charged with OPM, our money specifically.  This is why I devote myself to finding the best group of signal providers that do not reach for the stars or care about looking good, they care about your, mine, their returns first!