This post was triggered by the following ZuluTrade ad that I saw recently:
ZuluTrade ad
I felt instantly that something is wrong with it, but couldn’t articulate it for a while . After doing a little bit of research on Zulu – I only knew that they were some big/the biggest platform for signal providers – I can now unreservedly state that the ad is misleading. Saying that the best traders on the planet are at ZuluTrade is like saying that the best footballers are among players of Fifa 15. I think this comparison is very appropriate because from nine traders who are on top and are followed with +$1 Million, eight are trading demo. These so-called best traders don’t trust their strategies with their own money, why should anyone else trust them ?
If we delve into this further, we notice that most of them have been trading their respective strategies for less than two years, and some for less than one year. It also becomes obvious that the general approach is to run EAs on several demo accounts and hope the one which has been successful lately will get a following (notice the bomb icons – blown accounts – in the ‘also known as’ section of their profile).
I guess it’s clear by now that all this is in stark contrast to what it takes to be a good trader, let alone among the best traders on the planet.