So you are fed up of hearing how you are able to earn a living in the comfort of your home, doing not much at all and knowing little of the economic climate. Welcome to the new age of Copy Trading. Very simply put, a way to mimic the strategies and copy positions of more experienced traders, allowing your selected ‘experienced investor’ to trade on your behalf. Sounds too good to be true? Perhaps the answer to that question depends mostly on the question, whom do I copy?
What is Copy Trading?
The popularity of Copy Trading has soared in the past couple of years promoting a new type of investment portfolio for beginners and an opportunity for experienced traders to diversify and minimize risk, allowing a proportion of their investment funds to be invested in other traders. Essentially, when your selected trader makes a trade your account will simultaneously copy it, making profit and loss every time your copied trader does.
Social Trading Saves Time
Many know the simplicity and ease of trading; little emphasis is put on the continual hours of monitoring analysis (technical, fundamental and behavioral), the understanding of different markets and that’s before we even start to talk about Fibonacci retracement levels. With Copy Trading all of this is bypassed and no longer are you required to study the market, solely the performance of others, resting on the ability to spot a good consistent trader to copy. Social trading has enabled connecting with traders from around the world, through websites and forums you are now able to choose depending on trading performance and success ratio which investor suits your trading style. Similarly to other social networking sights you are able to engage with other investors, commenting and exchanging suggestions and tips.
There have been many success stories on the media and in principle, the concept can work very well. The benefits are obvious; however, no one should be naive to the risks involved in any type of trading. No investor is 100% successful and even the most experienced don’t get it right every time. It is important to keep an eye on market conditions and not just rely on a trader with a lot of followers or those at the top on league tables of profitability because they too can crash at any time. This can be risky for any novice and by not overexposing your investment funds without analysing market conditions can mitigate that danger.
Choose What You Want
Mindset plays a big part in this, being able to check your ego at the door and realize the same way at one time you profited, it is as easy to make a loss. Each loss and error provide an opportunity to learn from and for you to modify your approach moving forward. Investors who bring you the greatest return often trade on the more volatile markets and are in more risk of making a loss due to uncertainty and instability. A trader, who is delivering 5-10% return every month most probably won’t be at the top of the profitability table, yet will ensure to a copied trader a safer option. For that reason, it is up to you to choose what you are looking for and in turn who you want to copy.
Unfortunately, due to a saturated market and still not enough quality content on the topic, the whole process has become more challenging. Especially for beginners, who are initially drawn to the simplicity of the concept then mind-boggled by the complexity of the methodologies adopted when trading the financial markets. When starting out in copy trading it can be difficult to identify a valuable resource to support you on the journey to becoming a successful copy trader. Copythem.com has been designed exclusively to provide high-quality information that copy traders can apply in their pursuit of profits.
The Right Site for You
Copy Trading has the capacity to become a great investment opportunity for traders of all experience levels. The most important thing is to discover how beneficial it can be with the right education and support. Copythem.com is increasingly setting itself apart from its competitors by providing valuable tips, reviews, trading techniques, and insights from experienced traders.Unlike other sites where there seems to be a lack of dedication and consistency, copythem.com is continuously up to date on the Copy Trading industry trends and makes life easy for a beginner. Through subscribing to our website and Facebook group you will be able to keep up to date with the industry and discover how the experts consistently make their money work for them.
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