Last updated on 17-Apr-2015

A successful intervention in each and every case is not possible due to factors which are beyond ZuluTrade’s reach. However, in the spirit of constantly improving user experience and smoothing out trading performance, ZuluTrade has added the Monitor My Account feature.

This feature takes action in the following cases

Case 1 - Trader’s Close Signal failed to close the trade at your Account

  1. Trade is open at your Account and at Trader's account
  2. Trader successfully sends Close Signal
  3. Close Signal fails to close the trade at your account
  4. Monitor My Account tries to close the trade

Reasoning for closing the trade

Since your Trader decided to Close the trade, in order to protect your account ZuluTrade will attempt to close the trade simultaneously with the Trader as this will produce the same result with minimal slippage.

Common causes

Technical Error, Connectivity Issues

Case 2 - Trade did not close by Stop/Limit hit as Stop/Limit was set to 0 at your Account

  1. Trade is open at your Account and at Trader's account
  2. Trade closes at your Trader’s account by Stop/Limit hit
  3. Trade remains open at your account as there was no Stop/Limit or Stop/Limit was set at zero
  4. Monitor My Account tries to close the trade

Reasoning for closing the trade

If the Trader had set a Stop/Limit for a trade and the trade was closed by Stop/Limit Hit and there was no Stop/Limit set at your account this may indicate a technical error or connectivity issue. So in order to protect your account, ZuluTrade will attempt to close the trade simultaneously with the Trader as this will produce the same result with minimal slippage.

Common causes

Technical Error, Connectivity Issues

Case 3 - Trade did not close by Stop/Limit although Stop/Limit values at your Account were the same as the Trader's

  1. Trade is open at your Account and at Trader's account
  2. Trade closes at your Trader’s account by Stop/Limit hit
  3. Trade remains open at your account although you have the same Stop/Limit values as the Trader
  4. Monitor My Account tries to close the trade

Reasoning for closing the trade

As the trade closed at the Trader by Stop/Limit but not at your account despite Stop/Limit being the same, ZuluTrade will attempt to close the trade simultaneously with the Trader as this will produce the same result with minimal slippage.

Common causes

Different rates provided by your Broker and the Trader’s Broker – so Stop/Limit was reached at one account but not at the other

Case 4 - Stop/Limit update rejected by your Broker due to proximity to Market Rate

  1. Trade is open at your Account and at Trader's account
  2. Trader successfully updates Stop/Limit values
  3. Your Broker rejects the update due to proximity to current market rate
  4. Monitor My Account tries to close the trade

Reasoning for closing the trade

As the trade’s Stop/Limit value was updated by the Trader but rejected by your Broker, ZuluTrade will attempt to close the trade, provided that your Broker’s current rate is within 10 pips of the rejected Stop/Limit update, since this will produce the same result with minimal slippage as if closed by Stop/Limit Hit.

Common causes

Proximity to market rate as provided by your Broker

Case 5 - Trader cancels a Pending Order that is already opened at Market at your Account

  1. Pending Order is placed at your Account from the Trader
  2. Pending Order is opened at market at your Account but not at the Trader’s Account
  3. Trader decides to cancel the Pending Order at his account
  4. Monitor My Account tries to close the trade

Reasoning for closing the trade

If the Trader cancels a Pending Order, he will have no control over the Pending Order as it is now executed as a trade at your account. For this reason ZuluTrade will attempt to close the trade so as not to leave the trade exposed at market, unmonitored by the Trader.

Common causes

Different Broker Rates

Case 6 - Pending Order is opened and closed at Market on the Trader’s account but did not open at Market on your account

  1. Pending Order is placed at your Account from the Trader
  2. Pending Order is opened at market at the Trader’s Account but not at your Account
  3. Trade closes at your Trader’s account by Stop/Limit hit
  4. Order still pending at your account
  5. Monitor my account cancels the Pending order

Reasoning for canceling the pending order

If the Pending Order of a Trader opens at market and then closes due to Stop/Limit hit, the Trader will have no control over the Pending Order at your Account. For this reason, ZuluTrade will attempt to cancel the Pending Order to avoid having it opening at market, exposed and unmonitored by the Trader.

Common causes

Different Broker Rates