hello, this is my second day in the school of pipsology and i have already learned alot. my question is what is copy trading and is there anyone who can recomend it to me, can i earn some money while am still learning? please advise
Copy trading is automatic trading. You looking for successful trader and duplicate his/her trades. Zulutrade and etoro are example for such service.
The short answer is: don’t do it.
Almost every website who offer signal service/copy trade feature are simplly people who haven’t achieved anything in trading.
I can’t say that all variants of copy trading are extremely bad… But you should be accurate while choosing a signals provider and deciding how much money you should put on depo
There are open ratings of traders who use MQL5 and they have the statistics you can base on. So you can decide whether to use such services by yourself.
I’d advise you to wait a bit, learn more and not to make quick decisions
If you’d copied my trades on Tuesday you’d have been after my blood. On the other hand, if you’d copied me Wednesday to today you would want to bear my children.
Like the other guys say, dont copy, take the time to learn for yourself
Lol … I didn’t trade on Tuesday/Wednesday. Yesterday, I must admit, was certainly like shelling peas, and included my single best trade of the year. I’m probably infertile, anyway, but otherwise, you know …
Indeed, exactly so. It’s always when people try to copy something that "just ‘works’ " that all the accidents arise. :58:
Why not do it? Aside from people who haven’t achieved anything, is there any other reason why we should not copy trade? I would really like to hear your thoughts on this because I’m almost registering for a copy trading service haha
How would you know the people you were copying where actually any good? There is no independent verification, you only have their word for it and we all know how easily “evidence” can be falsified.
And think about it, if these people were really as good as they claim, would they be wasting valuable trading time selling this service for a fraction if what they could be earning on the market?
Well, I feel copying trading is not bad. Through this you copy the trades of signal provider onto your account and can earn profits also. Like in beginning if you don’t know much about the strategies, indicators and trading methods then you can simply copy the trades and can gain knowledge through the strategies of signal provider. To check the credibility of the providers you can see their performance charts, analyze their profile and ratings on various social trading websites. Thereby, you can choose the trader which you feel suits you the best.
You can earn while learning through copy trades and you can practice this first on Zulu trade & Mql5 by opening a demo account.
Copy trading can be very good if you get the right trader / system but it can be difficult to sort the good ones from the bad ones. In general I would say that if the results look too good to be true then they probably are. The trader may be hiding some bad trades or be using a very risky strategy that could implode at any minute. I personally only consider following traders that have REAL accounts linked to their strategy. This cuts out a lot of the bad ones
Copy trading is an automatic trading technique where you bring together the smartest investors and mirror their performance into your account. This method proves good for beginners as well as experts. By being a follower, a beginner earns and learns, whereas an expert can earn more by working as a leader/signal provider. But the major dilemma faced by each trader is which trader I should opt for. To sort the best signal providers among many is a difficult task. But there are certain profiles which can help you in choosing an appropriate signal provider. You can get a list of signal provider from [B]ZULU, MQL5 and MYFXBOOK[/B].
There are few major parameters that one should look for which are: consistent growth, low drawdown, trades per week, you can also look into its history and try to judge its trading strategy, if its scalping or momentum trading etc
As I see, you are a new Forex trader then I wanna suggest you, please hold on! Don’t go for any automatic trading service! If you want to be a successful Forex trader then you need to learn manually! Without good trading skill, personal success is quite impossible here! But it’s true; nowadays copy trading service is very popular, its actually for the investors and which traders are not interested to learn Forex!
I am never use copy trades, although on my broker also provided copy trades system, and learn manually although on my hardisk there are some kinds robot for automatic trading, sometime I am only like to download robot that might profitable but never try to use it because also not having vps
Copy trading as the name implies is copying the trades of another trader into your own account. It is a signal service provided by Metaquotes. Everything has its own pros and cons. So does copy trading! copy trading can prove to be very helpful for the trader. but you should always be careful I choosing a signal provider. Watch his performance closely and invest a calculated amount at first.
Copy trading was a good and new experience for me, it really works. I learned this art from one of my friend. I get profit through this way of trading. It is not confirmed that you will go positive all the time. Depend on your performance what is in your hand you will get in copy trading.
do somebody trade on forex by using social trading service from liteforex? i would like to try , and i need advice
What kind of advice do you need? Can you write more details here? I don’t use social trading by myself, but I maybe I’ll be able to help you. At least, I know how this thing works.
Copy trading is like jumping steps ahead in the learning system; it is not too safe however as it is not easy to find the right trader to be copying winning trades from. It is safer you carefully build your trading experience as the way up to being a pro. This doesn’t mean copy trading is bad either.
Copy trading is just fooling yourself you have outsourced the risk involved in trading and therefore the trade is risk-free. Good to be aware of and understand how other people trade, good to see their entry points - but that’s all you learn from copy trading and its honestly the least important decision. Letting a stranger decide the level of risk you’re taking in a real trade is, as they say, doolally.
In my opinion copy trading can be a good tool for newbies, but you also need full transparency to see exactly who are you copying by seeing his overall stats, maybe history and make sure he is also trading his own money on a real account. On the other hand you need to have full access to your trades to close them or modify them.