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Sure Way To Lose Your Copy Trading Account In Couple Of Weeks

forex-lossStay away from top forex traders on ZuluTrade with trading history less than 10 weeks. From time to time, Top100 Zulu ranking shows “young” trader who opened their signal provider account less than 10 weeks ago. However these Zulutrade traders were able to make it into TOP100 list. This is possible mainly by using very risky trading systems and close to 100% winning ratio.

Let´s see some of Zulutrade traders that currently fits into this category:

#21: ProProfit5 (8 weeks)
#47: gfmroiw (9 weeks)
#49: bdczbbd (9 weeks)
#53: Kurtulus (8 weeks)
#71: Twenty Twenty20 (2 weeks)

I am not saying that every Top100 Zulutrade trader who started 10 or less weeks ago will fail sooner or later. You can find one or two diamonds among these king of top forex traders, however majority of them are very dangerous.

Here is a proof

In March 2013 we have posted article Hot “Young Guns” Forex Traders in Zulutrade´s Top100  where we presented 6 signal providers positioned in TOP100 on Zulutrade. None of them is currently even in Top 1,000. Here is a quick summary:

LateForex was #99, currently he is #33,585 with -9,500 pips
Serega was #76, currently he is #10,740. Stopped trading more than year ago
000OOOMMM was #67, currently not positioned, stopped trading more than year ago
yoyotan123456 was #52, currently not positioned, stopped trading more than year ago, -811 pips
FX Profinity was #25, now he is #3,550, profit -5,100 pips

and finally…

the_best_player was #12 only after 5 weeks. He was so popular that more than 2,500 people started to copy him. They altogether invested with him around $5 million. Many of them lost all money invested.  This Zulutrade trader generated profit of almost 3k pips only to fall down to -1,440 pips couple of weeks later.

Summary:

If you like a particular signal provider in Zulu Top100 ranking who is less than 10 weeks “young”, be aware. My recommendation is to wait at least couple of months before you start copying him. I know it is tempting to follow someone who can double your balance in few weeks, but your money can be in a high risk. You´d better to follow veteran signal providers with longer trading history (like 1 or 2 years).

Note: Past performance is not guarantee of future profits. Never risk money you cannot afford to loose.

 

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