Copy Trading Platforms

Trading Systems Expert Advisors and Automated Trading
21

Does copy trading really work? I mean is it profitable?

1 Like
23

Yes, it is! I have been into copy trading for the past few months. Careful selection of a good trader is the most important aspect in copying trades of others. I have a few parameters upon which I select a trader such as; ROI, drawdown and zulutrade ranking.Also, keeping a constant check on the traders you follow is must. if the results are still at the same benchmark you followed them for, or has it declined. so you can switch between traders accordingly.

25

Sounds good! Will definitely try my hands on copy trading.

26

Personally I think Iā€™d rather just learn how to trade though for that much effort. Most people who try copy trading wonā€™t go to the lengths you suggest to cover themselves and will end up losing long term Iā€™d think.I just feel copy trading encourages a focus on what you can make rather than on risk and the skill itself. But if it is working for you cool.

27

Yes, I agree with what you said, but for a newbie or part-time trader, it can be an option for passive income along with executing trades on demo and learning along side

28

Only if it genuinely makes you money and Iā€™m not convinced they do long term.

29

Can I automate my copied trades?

30

@Florin77 You can but your take profit or stop loss depends upon your risk to reward levels. So, choose wisely.

31

Will be automated on brokerā€™s end or the copy trading platformā€™s?

32

I know with zulutrade, its from their end - the automator. Not sure with other copy trading platforms.

33

A word of warning on copy tradingā€¦ cTrader is a copy trading platform connected to multiple regulated brokers like IC Markets, Pepperstone etc. I signed up and tracked a number of strategies that had good monthly returns over anywhere between 5 months and 18 months. 4 of them went to zero with a week or so of me placing decent money into the strategies (called providers on cTrader). This happened because of the recent volatility in EUR.

34

Can I copytrade with multiple brokers or only one broker is allowed with one platform?

35

I think you can copytrade with multiple brokers. But I am not sure about the limit to how many accounts you can open.

36

As per my knowledge thereā€™s no limit on the number. If you are trading with the ones who have an independent platform for copytrading like zulutrade, duplikum and duplitrade, you can open as many accounts as you want and that too with a single email id.
But there are also some brokers who have their in-house copytrading platforms like etoro, with them you wonā€™t be able to create multiple accounts.

37

Why would anyone need multiple accounts? :grin:

38

When I started copytrading, I was not very sure if it will work for me but I am actually glad I tried it. I definitely think Iā€™m doing fine with copy trading.

39

True that! For someone with little market understanding, copying trades is indeed a good idea, but I am one of the other side people :grin: I share signals.

40

I am interested

41

Ahh nice! If I may ask, on which platform you share your trades? Would really like to go through your profile.

1 Like
42

Currently, sharing trading signals on MQL5 but I am also testing zulutrade these days.

2 Likes