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Signals Reviews

ZuluTrade's 5th Most Capitalized Forex Trader: Global Matrix LT

Today we'll be exploring a newcomer to the top five of the richest signal providers on social trading platform ZuluTrade - Russia's Global Matrix LT. And in case you start to wonder what's with the Russians on the network these days and how come they suddenly gained such dominance, I have to explain that it's not a bunch of Russian traders, but a single trader behind a raft of profitable trading systems. That's right – the trader behind Global Matrix LT is the same as the one behind Double Eagle, as well as DataForex Pro, and the current leader of Zulu in terms of capital and followers – First Eagle

 

Global Matrix LT follows the footsteps of First Eagle – the system is now at the fifth place with respect to capital attracted from its followers. We should mention now, that it holds funds of $1,945,468 from 1,193 subscribers, which is a remarkable achievement. Moreover, Global Matrix LT has an average rating of four out of five stars from followers – a very good sign of what they get from this signal provider.

 

 

Strategy

 

As the other systems of the Russian trader, Global Matrix LT trades solely with the EUR/USD pair. However, this trading system has its peculiarities – it opens positions against the trend and then closes them simultaneously according to a take-profit or stop-loss level. I spot nothing aggressive in this strategy – the number of open positions does not exceed five and they are usually held open for such a period of time that does not lead to excessive drawdown. The trading method is very solid.

 

If I have to mention a minus it's that sometimes the trader closes the positions just to reopen them one more time. The vindication for such a move is that new followers can now copy the same positions as the existing followers. In my opinion, this is mathematically and logically incorrect and I believe that after the latest loss to which this approach led, the SP will hopefully abandon it.

 

 

Performance

 

Global Matrix LT has been active on ZuluTrade since August 8, 2013, which gives us about nine months of trading data. For this period of time, the system has managed to generate substantial profit of 6,511 pips. But the best part about the performance of Global Matrix LT is that this profit has been rising since the onset of trading and has not been marred by hefty drawdown periods.

 

Photo credit: ZuluTrade.

 

Thanks to the steady strategy, the maximum drawdown is now at meager 457 pips and the stats show that it has not risen much above that level since trading started. This reading indicates small risks of losses but it also results in a small requirement for an initial investment to copy the signals of Global Matrix LT. Currently, you need $140 to follow this SP.

 

Another good performance metric is the reading of the average pips per trade – they are at massive 24 pips, which is very nice, especially if we consider that trading is done with the EUR/USD, a pair that usually comes along with tight spreads. Such a reading of the average pips per trade shows us that the system is resilient to sudden changes in market environment, as well as to the size of spreads and slippage. 

 

This said, however, I cannot skip the fact that slippage is somewhat high with most Forex brokers for this SP. The only two brokers that offer slippage of around 0 are Dukascopy and Interactive Brokers.  

 

 

Winners and Losers

 

It's time to assess how Global Matrix LT behaved towards its followers – whether this trading was profitable for them or not. The results are rather encouraging, as the trading system has a lump number of 540 live followers and it's hard to get that amount of people to entrust you real money. The prevailing proportion of followers – whole 81%, are profitable, while only 9% suffered losses. If we also have in mind that the size of the biggest profit ($15,670) is way above the size of the biggest loss ($276), we can safely say that this is an SP that delivers profits to followers.

 

 

Verdict

 

Given the robust profits, low drawdown, as well as high rating from followers, I'd say that Global Matrix LT is quite a catch. 

 

 

Any opinions and statements in this article are strictly subjective and should not be treated as investment advice. Forexbrokerz.com and all of its authors are not affiliates of any of the discussed signal providers, expert advisors and their vendors.

 

TAGS: global matrix lt  global matrix lt review  zulutrade  zulutrade forex  zulutrade signals  signal reviews  forex signals  forex social trading  signal provider  sp  russia  forex trader  capital  followers  pips  profit  drawdown 
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