So, you want to delve into the Forex market.  You have a bundle of cash that is slowly depreciateing because you have had it hidden under your mattress.  All you need to do now, is throw it on the forex market, but lo and behold, you take a little step backwards and think to yourself… ‘Do I really know what I am doing, and am I willing to throw it all away on what is effectively a roll of the dice… after all, no one (and absolutely no one can predict the direction of the markets’.


So you invest some of the money into actually learning about the markets and how technical indicators lead to some pip gainage, and how fundamental analysis is the way forward, and eventually it all becomes to much, and you head back to your 9-5 job none the wiser (probably more confused than you were before you started out on your journey) and decide that it is best left to the professionals rather than waste any more time on this crazy roundabout.


Fear not, because the time has come when normal folks like you and I can start earning cash on the Forex.  No this is not a money scam, and I am not promoting anything here, only my use of a platform called Zulu trader by Alpari.


Alpari is one of the most trusted brokers in the UK, and is used by retail forex traders (that basically means anyone who is not part of a corporation.. ie the ‘professionals’


Zulutrader is a platform that allows you to replicate someone elses trades.

If you were to go into a casino knowing nothing about blackjack but you wanted to bet a few hands and increase your chances of winning, you can place a bet through someone else.  They sit at the table, and you place your money behind theirs, and they effectively make the informed decisions for themselves… If they come out a winner, you also benefit.  The downside is that if they lose… so do you!  However, I would rather someone was informed about the decisions than not.  Zulu trader works in the same way.


Zulutrader (as I use it) is an app on the iphone that gives you a demo account (or live once you trust the people you are working with) of $50,000 and gives you access to a number of live accounts that are being live traded.  With each live account comes a chart of the gains over time, a bio of the person in charge of the account, a history of all the trades that have happened (with pips gained and profit from the trade) and open positions.  On top of this is a summary with the pip profit, drawdown, win percentage, weeks the account has been opened for, avg trade time, how many accounts are replicating and how many trades the account has made.  This is plenty of information to see who is profitable and who is not.


The amount you bet (or they bet on your behalf) is set by you, so your account size is not an issue to get started.  This is great news, as it means that you can set your risk tolerance and if you are a little worried about their position size (ie they are trading with thousands and you have hundreds, then you will not be oversizing).  You can start with 200EUR, or $200- so everyone can get into the action with little monetary risk.


I have used this for a short time (in the grand scheme of things) and have been very impressed with both the app, and also the traders who I replicate.  I am in profit and would recommend this to people with little time to invest in the markets, and for those who are very new to Forex.  The disclaimer I do feel I need to give is that YOU decide who to use and replicate, and this indemnifies them to any fall back from you.  In other words, you are entering this knowing that if money is lost, it is not their problem.  This of course is balanced out by the account being traded is a live account, and they have a personal investment in the account to make money.  They do it professionally, and want to make money, so the risk of them blowing your account up is small.


The additional bonus is that you can select overrides… ie, you can set take profit levels, and you can set Stop loss levels.  This allows you to have some control over risk factors.  Bear in mind however, that if it is a long term strategy, stop loss levels are set very wide (100 pips or more) to allow them to be right over time.  If you can not stomach this amount of negative pips in your account, then you should look at shorter term traders where stop losses will be narrower (still up to 70 pips in some cases).  The draw down will give you some idea of what their risk profile is – and bear in mind that pips do not equal risk- position sizing does.  I.e. a 100 stop loss with a position size of 0.1 is the same as a 50 pip stop loss with a position size of 0.2.


Be careful and risking only 3% of your account in any trade, and you should come out profitable.


Here is to some profitable trading, and I hope you earn plenty of cash for doing not a lot.  With a bit of luck (and a good account leader) you should be able to earn plenty of cash for you to give up your day job (well that would be the dream…!) and lead the life you would like to have!