~~~ Frequently Asked Questions ~~~

About Zorro

What are Zorro's system requirements?
 
Zorro runs on all Windows PCs from Win XP on, and on Windows cloud servers. For running it on Linux or Mac, you'll need a Windows emulator. It won't run on iPhone or Android.

Is Zorro 100% free, even for live trading?
 
Zorro is really 100% free since its development was donated. However when earning more than $ 30,000 per year with Zorro, a sponsor license is required. Find the license details here.

Is Zorro an online service?

No, Zorro runs on your local PC or on a VPS.

Is Zorro a broker?

Zorro is not a broker. You need an account with a broker or a connection to an exchange for trading with Zorro.

Which brokers are supported?
 
Zorro supports all brokers and exchanges that have either a trading API, or a web based trading platform, or are supported by the MT4™, MT5™, or Sierra Chart™ trading platforms. Major brokers such as FXCM, Oanda, IB, Dukascopy are directly supported trough their API.

Is Zorro open source?
 
Partially. The indicator library is open source, the trading engine and C compiler are not since they share code with oP group's other software products.

Can I use other software tools or web based broker platforms together with Zorro?
 
Yes. Zorro can be integrated in external software, and can also control other programs either through an API interface. It can even control web based platforms by sending key strokes and mouse clicks to a browser window or an application.

How hard is it to write a trading strategy script? I have no experience with programming or financial math.
 
Try it. Get the Black Book or the online course. Learning the coding basics will take about 1-2 weeks, but is essential for success with algorithmic trading. 90% of people learn coding quickly. But no one can tell beforehand whether you belong to the other 10%. Just try and find out.

I've heard that most trading tools are scam. How honest is Zorro?
 
Scam - in the sense of selling useless products or services - is indeed a major income source in the trading scene. That's why countless "Forex Autopilots", "Trading Robots", or "Expert Advisors" are offered on countless websites, Unlike those products, the trading methods of Zorro's included strategies are published and described in the Black Book. Anyone can understand, test, and experiment with them.

Why was Zorro developed?

Zorro development was initally financed by a sponsor. The intention was overcoming the limitations of retail trading platforms, and promoting algorithmic trading to a large audience especially in developing countries.

I got Zorro and have a special question.

We have special answers here: https://manual.zorro-project.com/afaq.htm

About Financial Trading

Does financial trading serve any useful purpose? Or are traders just parasites?

Trading produces no material or immaterial goods. But private trading - when successful - can redirect the money flow from the financial markets back to the production cycle, this way helping the global economy. At the same time it can reduce the profits of large funds and financial institutions, and make investments into real products more attractive. Private financial trading is important and useful to society, even though it only redistributes money.

If so, why isn't everyone trading?
 
The human mind is not good in detecting trade opportunities in price curves. The risk of losing money is about 65% per year for private traders, unrelated to their 'trading skills' or tading experience. Employed professional traders achieve an average annual profit of about 3% above market, by following rules and strict discipline. People with no knowledge or tools in algorithmic trading should better stay away from the financial markets.

Is a machine superior to a human trader?

Even relatively simple computer algorithms can easily outperform human traders. Computers do not make assumptions about of the future, and they are not affected by emotions or by the pseudo-knowledge and myths circulating in the trader scene. Large institutions, such as hedge funds and investment banks, are very successful with machine trading. Most private traders are not. That's one of the reasons why Zorro was developed.

Which profit can I expect with automated trading?
 
As with any trading method, there is no guarantee of profit. In extreme cases, automated strategies can return more than 100% annual profit on the invested capital (Zorro's Z5 strategy returned 240% in live trading from its start in July 2013 until its expiration in January 2015). But this is not a certain income like from a savings account. Due to market changes, trade profits can vary extremely from month to month. It is not easy to predict the future performance of a strategy - certainly not with simple backtests or with trading on a demo account. Advanced test methods - such as walk forward analysis (WFA) - can produce a more realistic profit projection. But even then there's no guarantee to match theoretical profit in real trading.

Won't it negatively affect the financial markets when millions trade with automated systems?
 
It depends. Trading supports the markets by providing liquidity, but some trade methods, such as high-frequency trend following, can have a destabilizing effect and cause market crashes. Other methods - mean reversing or cycle systems - can stabilize the prices. Zorro's included strategies use only methods that are not supposed to harm the markets.

Automated trading - what's the catch?
 
Here's a list of problems you might encounter when you let a machine trade with your money.
- Trading is not for anyone. Aside from the usual trading risks, there are further risks associated with automated trading, such as script errors or software bugs.
- Trading can become addictive, just like gambling.
- Trading does not produce any goods. It only redistributes money.
- Trading requires capital: at least $200 for trading one of Zorro's included strategies, at least $10,000 for a substantial monthly income.
- Trading requires strong nerves. Even highly profitable strategies can have long losing periods.
- Trading strategies can expire. Massive market changes can cause profits to suddenly stop with no prior warning.