Forex $ocial Traders
 

           

Round 2: ForexAnomaly vs. Zulutrade Followers

ForexAnomalyvsFollowersToday, when i was looking at Zulutrade and Zulu Ranking I noticed a very “funny” thing.

Well, for many past followers not so funny. In fact it could be a very harmful experience to see that.

The thing I am talking about is #8 position of ForexAnomaly.  Just a short story to explain. This signal provider used to be #1 on Zulutrade back in 2013.  He was 10,000 pips in profit and everything looked bright for his followers. Then suddenly he lost it all in less than 2 weeks!!! Read more…

Back to present. ForexAnomaly is back, 70,800 pips in profit, climbing up Zulu ranking very fast. Currently he is #8 on Zulutrade. For new followers he could look like top earner, 70k pips is a nice chunk of profit. His maximum drawdown is 21%.

forexanomaly-vs-absolute-piper
“Not bad”…new follower can think. But when you take a good look at his stats you´ll see 2 facts you may dislike:

1. That good looking drawdown (21%) was in reality as big as 15,000 pips! So if you consider following and copying this signal provider, set your lot size to survive 15,000 pips drawdown. Personally I would double that.

2. Zulutrade has recently launched a new stats indicator: Live Followers Profit.
In case of ForexAnomaly it displays this number: -$324,306 (check screenshot above). That means only one thing. During his career as a signal provider on forex social network Zulutrade, ForexAnomaly has blown up more than $300k of his followers money!!!

In his strategy description he states he enhanced his trading strategy, so who knows. Maybe he will be able to earn those money back to his followers. But I am convinced that those who lost with him in past will not follow him any more.

To be objective: In many cases followers losses are caused by their greed. They simple set their lot sizes in a very risky way, so even small drawdown or couple of losing trades can wipe out all their accounts. Other followers are not greedy but they are not educated properly how to follow signal providers on Zulutrade. In other words, not all losess are fault of the signal provider. Anyway, there were many followers, who planned carefully, but 10k drawdown was still to big for them to bear.

Summary:

1. Here we are, Round #2: ForexAnomaly vs. Followers….will he make them money or will the history repeat itself???

2. Before you decide to follow any signal provider solely based on their position in Zulu Ranking, remember this article. Do your homework and analyse the trader.

3. BTW, when you look at that screenshot above once again, you´ll notice #9 Absolute Piper who sends his signals from a live trading account (ForexAnomaly is a demo trader) and has so far earned in excess of $500,000 in profit for his followers.

What a difference, isn´t it?

Note: Past performance is no guarantee of future profits. Invest wisely and do not risk any money you cannot afford to lose.

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