Zulutrade, one of the largest autotrading services on the web, just released a new and very interesting capability: Zulutrade now allows followers to review other successful followers’ portfolios and copy them. Simply speaking, now that you see someone successfully following several strategies you can copy their settings and follow the same strategies as well. Up until now you could only choose one signal provider or several but you didn’t know what other followers are following exactly. Now you can not only see the most successful strategies but also the most successful followers and I think this can be a killer feature.
Main issue this tackles is that you never know whether signal provider’s success can really be emulated in your account as well. At most times, due to various technical and dealing reasons, results of the signal provider and the follower differ. Sometimes the difference is drastic and followers end up wiping out their balances without knowing why. But now, if indeed this Zulutrade Alchemy really works the way it should, you can see who successfully emulates strategies and at what broker, and do the same.
I also noticed that I haven’t visited Zulutrade’s website for a while now and that they’ve added quite a few social features:
Economic Calendar – which for some reason didn’t show any updates when I checked it today.
Mobile Apps – now you can access your account through iPhone, iPad, Android and other devices.
This is the ‘follow the successful follower’ flow as described by Zulutrade: