| A new way to trade and make money in the foreign exchange market has arrived. Zulutrade connects professional traders with people who want to make money in forex by following these traders. This is called a signal provider/follower relationship. There are thousands of signal providers to choose from and a follower is free to select any of them. Zulutrade is a service that is free to use both for signal providers and followers. Signal providers will earn broker commissions for each trade taken by their followers. A good trader who makes consistent returns will get a large following and make substantial earnings. To use it you will have to sign up to a forex broker. This can easily been done on the platform. Lets take a look at Zulutrade. All signal providers are ranked and these number in the 1000's. All signal providers covet the number 1 slot but being in the top 5 consistently can gain a provider lots of followers and has the potential to earn $20,000+ per month. To follow a signal provider you will first have to open an account. You have a choice of 2 types, a live account using real money or a demo account using play money. If you are new you should select a demo account until you are confident with the system. Once you have an account you will be able to select from any of the systems available. When starting out just select one provider to follow. As your trading experience grows you can start to portfolio your trading systems. When you first open an account you have to choose which set-up you want to use. There are 2 set-ups Custom and Automatic. By selecting the automatic settings you only have to make one choice, how much risk you want to take. When selecting your risk the lower the risk the lower the lot sizes. Conversely the higher the risk setting the higher the lot sizing. It is sensible to keep the risk on a low setting. Greed can take over as you rush to make money, however trading too big a lot size for your account can lead to a total loss of your trading account. Custom setting means you can manually select the lot sizes, number of trades taken, stop losses and take profits. This requires more skill than the automatic system but if you can learn how it works, it will provides the greatest control over zulutrade. For people who are new to forex trading you should select automatic and you can then start to learn how to use the full functionality of zulutrade. This means you can set your own lot sizes, work out your own stop losses and learn how your providers trade. More experienced people should use the custom settings straight away as you will be able to control your risk and reward more efficiently. Zulutrade has a fantastic facility to backtest your providers. This means you can select your settings and run this over past trading data. In this way you can see how your chosen signal provider would have performed with those settings. By using the back testing feature you can learn about lot sizing and stop losses. This will help you choose the correct settings for your accounts. Zulutrade is a way to trade automatically as it a hands free system. Because of this many traders can start making money quickly and easily. 
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