What is copytrading like as a signal provider?

I have been trading for some time now and I thought I might start sharing my trades for copy trading. But most of the providers on the platforms already have followers who copy their trades.
So, how do I ensure that people will copy trade me since I am new to the platform and how’s the experience of copy trading like for a signal provider?

Well , why don't you put you strategy on you profile page to start with.

So we can see if your worth following.

fxashely89 posted:
I have been trading for some time now and I thought I might start sharing my trades for copy trading. But most of the providers on the platforms already have followers who copy their trades.
So, how do I ensure that people will copy trade me since I am new to the platform and how’s the experience of copy trading like for a signal provider?

Maintain consistency in your trading results which will increase your visibility to followers who can copy you. For example, when you maintain consistent results on zulutrade, your rank is likely to improve and you may even appear in the list of top rankers. I think it is really helpful in grabbing the attention of investors who are looking for traders to follow.
Hope it helps!

How can I verify the reliability of a trader before copying his trades?

Don't look at what he says, look at what he does. Trading records would be a good way to go.

Leonor_Lou2 posted:
How can I verify the reliability of a trader before copying his trades?

I agree with @Prince Sajir! Would like to add few more points:

Try to figure out the reasoning behind their strategies. Look for traders who have a clear and consistent strategy, since these types of traders tend to make fewer impulsive decisions.
You can also test traders on a demo account and monitor their performance.

If my signal provider is using leverage 1:200 and my account is 1:500, does this mean my profits will be lower than signal provider's?

gogo17792 posted:
If my signal provider is using leverage 1:200 and my account is 1:500, does this mean my profits will be lower than signal provider's?

The use of different leverage ratios between your account and your signal provider's account can have an impact on the overall profits and losses of your copy trading strategy.

When you copy a trade from a signal provider, the trade is executed in your account with the same entry price, stop loss and take profit levels as the signal provider's account. However, the size of the position may be different due to the leverage used by each account.

gogo17792 posted:
If my signal provider is using leverage 1:200 and my account is 1:500, does this mean my profits will be lower than signal provider's?

As you are using higher leverage i.e 1:500 than your provider so your potential profit or loss could be higher due to the increased leverage.
But it does not only depend on this factor, it can be influenced by other factors too, such as the amount of capital you've invested, your chosen trading strategy, your ability to manage risk effectively, as well as market conditions.

What are some red flags to watch out for when considering copying a trader?

If you have been copy trading for a while, what was the most satisfying part of that process?

LeslieRuiz posted:
If you have been copy trading for a while, what was the most satisfying part of that process?

Mine is being able to benefit from the expertise of more experienced traders and potentially make good results without having to put in as much effort. What about you?

Leonor_Lou2 posted:

LeslieRuiz posted:
If you have been copy trading for a while, what was the most satisfying part of that process?

Mine is being able to benefit from the expertise of more experienced traders and potentially make good results without having to put in as much effort. What about you?

I have not gone live yet. I am still exploring a few copy trading platforms.