Copy Trading (sometimes named Social Trading)
In this article I want to talk about copy trading provider. Which one are good providers and what is the advantage of copy trading
The idea sounds simple. Just follow a top trader and copy them. Without having to trade in the Forex market yourself.
But is copy trading really that easy?
The idea sounds simple. Just follow a professional. Copy trading has become very popular. Is this a good idea? I would like to work on that in this article. Then you can decide for yourself whether copy trading is right for you!
What ist copy trading?
You just copy someone else’s trades. Without having to act yourself. It is carried out automatically for you. You can participate in the largest financial market in the world. Without having to be active yourself.
But how do you recognize a professional trader? How do you find the right provider? Often a difficult question for many trading beginners. What if the professional is not a professional at all?
Beginners often cannot understand this and are therefore looking for a copy trader with the biggest profits. And here is the biggest mistake …
Why so many fail with social trading?
Many people look at high profits in a short time. It is better to look for a provider who has been successful over a longer period of time. The social trading providers often have a good run at the beginning. But after several months the losses come.
Because high profits can only be earned with high risk. Accordingly, these gamblers quickly disappear from the market!
HOW DO YOU FIND A GOOD SOCIAL TRADING PROVIDER?
237% was earned in 3 weeks? Then you can be sure that they gambled and loose their money very short.
Find a provider who has been active for a long time. And does not promise any utopian returns. He has the necessary experience in this case. Even in difficult market phases, for example.