How Copy Trading can be a Perfect Start for Beginners

[Blockhead]

Copy trading is as the name suggests is copying trading strategies of other traders who are more knowledgeable and successful. Thus beginners who don’t have much grasp over the market can use this strategy to do their trades.

 

[Isonomy]

It's good in the beginning, but don't use it as your only tool. You need to learn your own strategies and make your own mistakes in order to grow as a trader.

 

[Parabola]

There are copy trading like ZuluTrade and MQL5 as social trading, sometimes traders try to establish copy trading and share trading performance with good trading result, but usually looking good copy trading leader needs to look track record on past performance.

I agree with your point! And moreover it is important that a trader gains proper trading skills to trade on his own so as to be successful in the long run.

 

[Polakandil]

I agree with your point! And moreover it is important that a trader gains proper trading skills to trade on his own so as to be successful in the long run.

Gains proper trading skills need hard work and high dedication, because on the road maybe all traders face their own difficulties and barrier to achieving good performance, maybe motivation quotes like as never give up will empower traders to keep moving ahead.

 

[GriderGlib]

Copy trading can be good for beginners who do not have enough market knowledge.

In reality, copy trading is not advisable at all. The person from whom you are copy trading, you do not know if they are real or how well they trade. Moreover, as a beginner, the reason why you should not opt for copy trading is because you won’t learn anything by copying others, and you won’t last long in the market.

 

[Lelia Erdman]

I would not recommend copy trading to anyone, especially a novice. Even experienced traders make mistakes that result in losses. Because I never trust anyone with my money, I prefer to trade alone.

 

[Hippomobile]

Copy trading presents a great opportunity for beginners to learn and gain confidence. There are several good copy trading platforms available for newbies like zulutrade, avatrade, duplitrade, b2broker, and forex copier.

 

[Hippomobile]

I would recommend Signal Start, in terms of reliability and accuracy of copy trading. This has always been my preferred platform. I provide a long-term signal scheduled to run until 2032 for those interested in copying a well managed account focused on long-term growth.

Signal Start definitely seems like a promising copy trading platform. Will add it to my list.

 

[Hippomobile]

Either Signal Start or MQL5 would be my preferred copy trading platforms. From what I can see, most of the others seem to require the signal provider to sign up to a certain brokerage account, which is a major inconvenience for long-term traders who already use their preferred brokers. My current signal targets 3 - 5% growth per month, which is slow and steady. However, I will be launching a higher risk version of the same strategy next month, for those with a bigger risk appetite.

3-5% growth pm is fine for those who are new to the field and haven't made anything. Your high risk strategy is what I'm interested to see. Is there an exact date for its launch?

 

[Hippomobile]

In the meantime, if you wanted to trade higher risk, you can copy Managed Growth Fund on Signal Start and just increase the multiplier to suit your risk appetite. But I don't suggest increasing to more than x1.2 - 1.5, otherwise drawdown can get too high with a grid strategy like this.

Copy trading links in my signature below.

Sure, Thank you!

 

[Neology]

Copy trading is the best way of making money in forex. You can learn from your mentor or any other expert regarding how and when to trade. You can practice copy trading in your demo account if you are a beginner.

 

[catherinacrowley]

Copy trading can prove to be a good stepping stone for traders who are new to the market. You can use this opportunity to understand the functioning of trading strategies and one day create your own. But make sure you copy trade from genuine resources.

 

[diabolique]

I think that copy-trading is a nice strategy for beginners. But learning the nuts and bolts of trading is the key so that it'll help you know how you're moving and what you're doing. Of course, forex is very unpredictable, and even the experts might lose money. It's a nice strategy overall, but not just a regular copy-paste scheme, as one might think it to be like. It requires learning, applying, and implementing on a consistent basis.

 

[Hogwash]

For traders who are just starting their forex trading careers, copy trading can be a good way of enhancing their profits. But they better not depend on copy trading if they are focusing on a long-term career.

 

[finance girk]

Copy trading is useful but I don't prefer relying on it because while copying from other traders, we don't have any idea about the strategy of a trader. Also, the trader from whom you are copying will not always make winning trades and that would result in your losses too. Best Free Forex Signals Online

 

[GumarSafin]

What points do you pay atten

Copy Trade is a popular and innovative trading methodology. By using this portfolio management technique, newbie traders can identify successful traders with a solid track record and mimic their strategy. If you are hoping to take your first steps in the financial markets, you might consider copy trade as an excellent entry point. With copy trade, you can learn from successful investors and traders, improve your trading capabilities, reduce time spent on research, and move beyond your inexperience.

In simple terms, copy trading allows beginner traders to capitalize on the years of experience and knowledge of a successful trader without having to go through the extensive learning process. Practically, it's a form of copying the actions of someone more skilled in trading than you are, but in a good way.

Is Copy Trade Profitable?​

Well, the answer depends entirely on who you copy and how much you invest. If you are mimicking an expert trader who has a low-risk profile, you can safely put in more money without having to worry much about losing what you have invested. However, if the trader you are copying has a high-risk profile but have high-profit margins, it might be better to invest less money. To put it into perspective, choosing the right trader to emulate will make your copy trading experience worthwhile.

Below are the best reasons you should consider copy trading to begin forex trading.

A Perfect Entry For Beginners​

Many people are reluctant to try new things because they assume they lack the skills required to succeed. Copy trading is a fantastic option for individuals who are inexperienced or new to trading. Copy trade gives you the opportunity to start slowly and helps them learn how to trade properly. As a result, you can learn to trade Forex while also earning money. You may gain a great deal of confidence if you are able to make profits while following the strategies of experienced people at the beginning of your trading career.

You Can Learn From The Best​

Copy trading is a highly effective way to explore the market and monitor some very successful traders as they open their positions and apply strategies. Following top professional traders in the market can help you gain more experience with minimized risks as you replicate the trading strategies of the best traders.

It Is A Great Time-Saver​

Getting to know the financial markets takes time. Because the majority of the time spent in forex trading is spent on analyzing the market and making predictions on the basis of past performance, no matter how adept a trader is, technical and fundamental analysis will always take up a large chunk of their time.

Copy trade will be a great way for you to save time and make money at the same time. As a result of copy trading, new traders no longer have to conduct research on individual assets. By just copying the movements of successful traders, you can save all the time you would have spent on research.

Helps You Avoid Making Common Mistakes​

New investors and traders are prone to make some common mistakes in their initial stages of trading. Copy trade allows them to avoid these mistakes for good. Some traders, for instance, take time to overcome their emotional decisions. Making investment decisions based on an obscure tip just because it "feels right" could lead to your ruin. By copy trading, you put your money in the hands of seasoned investors who have already overcome such barriers and are experienced and well-calculated.

Diversify Your Investment Portfolio​

The proverbial "egg in one basket" error is another mistake new traders make, which means they fail to diversify. If you use copy trading, you'll gain exposure to diversified portfolios when you copy other traders. Since copy trading applies easily to volatile markets like forex, cryptocurrency and stocks, it can be applied to any trading instrument or market.

You're More Likely To Earn Faster​

Copy trade increases your chances of earning money faster than someone who tries to do it themselves. Nobody really trades Forex for fun. It is everyone's ultimate goal to make some money from trading. With the help of seasoned investors, you will be able to close on more profitable positions and make more trades. Copy trade can be your sole activity, or you can make it a secondary one on top of your regular activities. You are likely to earn more money from trading online when you copy trade regardless of which method you choose.

What points do you pay attention for while choosing the signal provider?

 

[GumarSafin]

When you observe for the traders beeing copied on your account, you just analyse the Provider's strategy and try to replicate it?

 

[GumarSafin]

I know IRONFX use a reliable copy trade system and its also a regulated broker which is the most important. Click on the link bellow to find out more about it:

https://www.ironfx.com/en/register?utm_source=009142&utm_medium=link&utm_campaign=IronFX_Sales

What are the fees they take - subscription fees only?

 

[GumarSafin]

I'd not suggest copy trading to anyone, especially to a beginner. Even professional traders make mistakes which can lead to losses. I can never trust anyone with my money so I prefer to trade on my own.

I guess, the best way to pick up a platform with the riskmnagement tools installed there and carefully chosse the ratio of S/L to your equity in this regards.