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Foreign Exchange

FX comment: Trade while you sleep with ZuluTrade

There was a time when trading was a headache. Not anymore!

Maybe it was my incompetence but I never found FX profitability as easy as some of the retail FX forums tell me it is. And now, apparently, it’s got even easier.

My attention was drawn to a site called ZuluTrade. They have a league table of active signal providers with extensive trading records. All I have to do is tell the folks at Zulu which of the signal providers I want to follow and they’ll deal my retail FX account for me based on those signals.

As ZuluTrade puts it: “There was a time when trading was a headache. Not anymore! You don't have to study or monitor the market to make a good pick, because hundreds of industry well-known experts from all over the world are doing it for you. All you have to do is pick the experts you like, and ZuluTrade will quickly convert their advice into live trades in your trading account directly with the broker.”

I have had other people managing my meagre capital for me, my pension for example, but there is something about this idea that worries me. Two of the endorsements run: “What I like about ZuluTrade, is that I’ve stopped making decisions. Less stress is better for me...”. And: “ZuluTrade is the future of investing. I’ve started to autotrade my account and finally I can get some sleep.”

We’re all different but I never feel more stressed than when I’m not in control, when decisions aren’t mine. And as for sleeping while my account is being autotraded? I don’t think so.

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