Learn to Copy Forex Trades.
Copy Trading has seen major rapid growth since the idea first came about. This also mirrored the growth of social media and its massive ability to share information in an instant, social or copy trading permits traders to share their trade ideas and strategies with whoever is interested. Those who chose to follow can just copy what the experienced traders are doing and profit from them.
This idea gained traction quickly as inexperienced investors could just watch, learn from – and copy – pro traders. Imagine just picking/following an experienced trader and placing trades, at exact the same prices. The nature of these trades means you won’t miss out on price movements – and are able to set up your account to auto place exactly the same trades, just as the trader you follow.
Who Can Best Use Copy Forex Trading Program / Platform?
Social trading has hugely gained traction from those traders making their first baby steps into the forex trading market. The idea here is to get the less experienced but eager to invest people to get involved without a huge amount of research.
Simple Step by Step on How Really Social Forex Trading Work?
- Once a trader has decided they wish to use social trading to follow others, they need to search for the right traders to follow. This can be done using a variety of methods.
- Traders can be filtered by performance, trade frequency, the assets they trade – any element of their trading style. Some might look for those with long term results – others might prefer the people making big profits in the last few days.
- Once a trader has found someone to follow, in one-click, they can ensure they open each and every trade made by that individual.
- Then the trader will set up the actual amount they want to use to better suit their budget meaning a person can follow a millionaire forex trader, making enormous trades – for maybe just $1 per trade copied.
- Once set up, each time a new trade is opened (or closed), the follower will also have their trade opened or closed at the same price. Apart from the size of the investment, everything else is identical.
Follower traders can copy as many different professionals as they like, and mirror all of their trades without any special commitment to stay with any particular trader. This flexibility means the follower is in complete control of who to follow meaning if you pick your traders right, you could make good profits without knowing much about forex.