Why not?
If you are confident enough about your trades.
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Yes, you def should.
Just ensure your profile is well maintained because newbies will only want to copy your strategies if they find it profitable.
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Agreed.
Any other advice? Do we have traders who actually are sharing trades?
Copy trading platforms feature plenty of traders sharing their trades and my advice would be to get familiar with the platform thoroughly and learn about its features, which will help in your trading journey.
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Are the copied trades executed instantly or is there any slippage issue?
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High market volatility causes slippage and you will experience it with any broker you choose. The best way to minimise its effects is to try trading in low volatility hours, when prices are less likely to change quickly. That’s why, it is always recommended to follow and copy a trader who is experienced enough and knows when to place trades at the right time.
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What other factors should investors look for in traders while copying trades?
From my experience, it’s best to find traders who have a solid history of making consistent profits for a good while. It is also important to consider their experience, ROI, and maximum drawdown before copying their trades.
Can I customize my copy trading strategy and how much control do I have over my investments while copying other trades?
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As per my knowledge most copy trading platforms allow users to customize their strategies and provide some level of control over their investments. For example, on zulutrade, you can set risk management parameters, adjust your allocation of funds, select the assets you want to trade, and monitor and adjust your strategy based on your results. But do keep in mind that copying another trader’s strategy through copy trading can be risky, so it’s essential to do your own research before jumping in.
I was wondering if it was possible to stop copying the signal provider at any time?
Yes, absolutely! You can stop copying a signal provider at any time. If you feel that the performance of the signal provider is not up to your expectations or you simply want to discontinue copying for any reason, you can simply turn off the copy trading feature on your account or remove the signal provider from your list of copied traders.
The exact process may vary depending on the platform or broker you’re using. Just be sure to review any open trades you have before stop copying a signal provider to avoid any potential losses.
Why does this thread read like a commercial for a signal service? haha
Does a copy trading platform allow linking an external live platform like Mt4 to a traders account?
It varies among different platforms. While some platforms allow it, others may not offer this feature.
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I’ve heard a lot about how copy trading can be a useful tool, but what happens when the trader you follow changes their strategy or starts to underperform?
In some cases, the copy trading platform you’re using may have safeguards in place to help mitigate these risks. For example, some platforms will automatically stop copying a trader if their performance drops below a certain level or if they make significant changes to their strategy. If this option is not available, you can try reviewing their new strategy and determine if it aligns with your investment goals and risk tolerance. If their new strategy is too risky for you or doesn’t align with your goals, you can look for a new trader to follow.