Changing ZuluTrade opened position’s takeprofit point

Since the start of trading with ZuluTrade free trading signal providers I got some issues regarding signal provider’s trading setting configuration.

By default, if you set TakeProfit point (it is named Limit in the system) or StopLoss point (it is named Stop in the system) the opened position would be closed when the point would be hit unless signal provider would set Limit or Stop value safer than your points (the minimum value accepted is 15, because lower value may not be accepted by your chosen broker).

At the start, I decided to set the Limit point. But it was a mistake (I think), because signal provider knows better when the opened positions should be closed whether it is in profit or in loss.

And it was true – I closed 3 position taking 15 pips profit. After a while, I checked the signal provider’s performance and saw that every trade was closed in about 100 pips profit. I can say, I lost..

I removed the limit. Later on, I checked my account and noticed that there was few more trades closed from the time I removed the Limit value. I decided to consult with Zulutrade customer support (they are very helpful and every issue is solved very fast).

Here is the conversation:

Pablo: Hello , how can I assist you today ?

你: Hi pablo,

你: I have a question regarding position close

你: today I had a position opened by shorttrade and later on it was closed with profit in 15 pips, but then I viewed his profile and noticed that he closed that position few hours later with profit in 90 pips.

你: how can it be ?

Pablo: you have any limit set in your account ?

你: In the morning I set a take profit limit to 15, but then I had removed that limitation before the position was lcosed

你: I don’w remember if the limit was set prior opening the position

你: maybe it opened with take profit point to 15 pips?

Pablo: you are talking about the last trade ?

你: yes

Pablo: ok let me check

你: ok

Pablo: you set a limit for your provider

Pablo: 15 pips that’s why the trade close in 15 pips

你: is there a compensation policy for such a case? cause in this case every user could have a loss

Pablo: please select the advanced settings

Pablo: no your trade close properly

Pablo: according your settings

你: I know that it was closed properly, but what if it would not be closed ?

Pablo: we can discuss a refund

Pablo: in case of loss

你: would it be full loss or part of the loss refunded ?

Pablo: depend of issue

Pablo: if is 50 % broker and 50% zulu

Pablo: we discuss this with broker

Pablo: but is very rare to happen

你: another question – I removed the take profit limit prior the position was closed. So the take profit limit was not removed from the position on broker’s side. I guess I could only set a new take profit point for the opened position, how I could do that ?

Pablo: if you don’t set any limit

Pablo: the trade will get closed by the signal of your provider

你: but if had set the limit in advanced settings, how I could change it ?

Pablo: if no trade open

Pablo: all the next trade will be without limit

Pablo: if you have open trade

Pablo: you can click in limit price and change it

If you did not tried ZuluTrade, go to ZuluTrade site and register your demo accounts (you can open as many as you want, just they are valid for 30 days).

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