Do you believe in social trading performance data?

Hi Folks,
I have a question, has anyone ever had any experience with social trading systems like ZuluTtrade as an Investor or a trader? The reason I am asking is because I tried them once with as an investor just to see if it really works or if it is just a really good marketing. I invested a relatively small amount of money, around $500, and selected on of their top performers. For a couple of weeks it was ok but then he started to destroy his account. All in all it was a loss. I wasn’t after profits, really, all I wanted is to find out the truth. I don't believe in amounts shown as investors’ funds, neither do I believe in its performance anymore. And if you keep track for a while and regularly check in, you will see that almost nobody is able to stay on top and show consistent results. It looks like a factory that transforms clients’ money into a broker’s fat profits. The concept is simple enough, show great performance in the short run and then blow out your account. I am not sure how they manage to show excellent performance from the off, but I assume there surely must be a way to do it.
What is on your mind? What do you believe?

Many thanks to admin for moving the thread here. Initially it was posted wrong.

According to zulu trade website there are a lot of traders and investors. And nobody reply anything in this thread. All these traders and investors are never visit our forum? Than it's strange. Now I starting to doubt more in reliabilty of info on their website. And I can't see the trader who was traded on my account anymore. All I want to know if anybody was able to made money with social trading on long term or hear a succesfull trader who publishing signal there.

Hello Max,


I've heard so many negative reviews about Zulu Trade & never tried.

The best thing to do is learn to trade by yourself.

Social Trading could be a great. The problem Social Trading is just at the beginning. Traders, the networks and also the follower have a lot to learn.

Right now many networks haven't any regulations for signal provider and they are allowed to trade with demo accounts. So you have to choose your Trader's precisely. You can find talented trader, but you won't find them in the top rankings. At the top there are a lot of gambler with to high risk. As well the follower make many mistakes. I saw so many people destroying their account through bad money management. They risk to much with a single trader and loose it all. Often they blame the trader, instead asking themselves "What I do wrong?"


Besides that the people are to greedy (The trader, follower and the networks). They only think short-term: "I just want to making money quick and easy." Truth be told, wealth isn't a overnight success it is a long journey. Get used to it!

Hey.
1.-etoro
I tried the demo account e-toro, I copied one month 5 best leaders.
Result for the month is -78 usd.
Traders lie they have the live account but have a demo account!

2.-CURENTSEE
Curentsee is very good but they have conditions minimum 2.500.usd on account.

Best is -trade factory explorer, you can see that traders have a live account.
I think of it is free.

First of all I am sorry for you, that you lost money with eToro. But how do you select your 5 "best leaders"? Beginner often just look at the performance and forget about the risk. Also the trader with the most follower tend to be very risky.

Try to select your trader with this technique:

Return: Profit in %, Average win Trade, consistent of results
Risk: Max Drawdown (< 500 pips) or lower than 20%, Max Open Position, Stop Loss usage
Popularity: Live follower subscribed, ratings or awards
History: at least 12 weeks (better 12 month), recommend with at least 100 trades
Effectiveness: Slippage, Average Trade Time (avoid Scalper)

It is very important to think about your investing. Do not follow completely blind any so called "gurus". Be smart.




I think if you really want to invest money you should invest a minimum of 1000$. Many social trading platforms give you the opportunity to start with 50usd. This is just come into touch with the platform and learn the features. This is not the way to become a millionaire. As a beginner you should also start with a free demo account and using virtual money to test your top traders.

Hey.
Now I know to copy anyone's shit!
It is much better to learn it myself. :-)

All right. Hope you doing good. Let me know if you rocking the pips