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  1. #1
    Rookie Member CaptainHat's Avatar

    Question about Zulutrade !!!

    Lots of (allegedly) different traders with the same names but different numerical values (MonacoTrader 1 to 2036) or with the same, as in word-for-word trading strategies (sorry, did I say Binary Sniper? The important thing here is identifying the trend on time, blah blah blah...)all of whom have an 8 trillion plus percent hit rate when you sign up with them, then after winning about $25, dive into a Megaladonic oblivion. Just as another of their name or description with an 8 million percent pops up. Scam, yes?
    Cheers,
    CH

  2. #2
    Administrator Martin Kay's Avatar
    Quote Originally Posted by CaptainHat View Post
    Lots of (allegedly) different traders with the same names but different numerical values (MonacoTrader 1 to 2036) or with the same, as in word-for-word trading strategies (sorry, did I say Binary Sniper? The important thing here is identifying the trend on time, blah blah blah...)all of whom have an 8 trillion plus percent hit rate when you sign up with them, then after winning about $25, dive into a Megaladonic oblivion. Just as another of their name or description with an 8 million percent pops up. Scam, yes?
    Cheers,
    CH
    I wouldn't say a scam. Im actually glad you brought that subject up... Okane, Michael and I have published quite a few articles concerning Social trading vs copy trading, you can find them all over BOTS. Long story short, copy trading sucks. For millions of reasons, and those "traders" you see on many copy trading platforms, including on brokers' platforms are bots, as simple as that. Imagine we have lots of traders looking for signals.. and much less traders willing to provide them on an hourly basis, actually on a minute based timing. all day long. What would you do as the platform owner? put those signals yourself? I guess not. Those bots are automated signals, very similar to most signal providers we know. They are based on one indicator or set of indicators, easy to install and replace, and they make the leaderboard look fancy. Their win/lose ratio is no better than tossing a coin. There might be some REAL traders on those platforms, but you won't find them. It's almost impossible for a Human to produce that many traders and signals in such short time frames, not to mention GOOD signals.

    I thought i'd make it short, but it came up pretty long, so i'll continue incase you've been reading everything so far (: Copy trading sucks. As a newbie, copying others won't give you nothing, no learn, no gain, and no future in the business. Now social trading, on the other hand, presents the opportunity of gathering traders, real traders, into the same arena. People trade, explain their moves, share their outlook and analysis and if CaptainHat follows them, he could copy them (manually). If CaptainHat really wants, he could also learn from those traders. Ask them questions, receive help from traders who know better. And when the day comes, he'll be leading the freshments.
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  3. #3
    Legendry Member Michael Hodges's Avatar
    yeah, what Martin said.....

  4. #4
    Rookie Member CaptainHat's Avatar
    Thanks Martin.

  5. #5
    Rookie Member CaptainHat's Avatar
    Thanks Michael.

  6. #6
    Moderator Kolyo's Avatar
    Social trading is really something more than just a copy trader. It is a way the best traders in the world can be born. This is the way everyday people could learn the secrets kept for long time hidden from the public behind the wall of big hedge funds and floor professionals. I hope that with time we can make such a difference and give the binary options community the tools and understanding of the market necessary to beet the smart guys from the street!
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  7. #7
    Junior Member
    Excellent explanation Martin. I'm glad that this has been sorted out.

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