Copy trading

Hi,

Can anyone advise how one goes about setting up a copytrading account? Is it done through myfxbook or is it an ancillary site like signal or autotrade?

I have used copy trading system on etoro and tried other systems (like Duplitrade which is awful) but just wondering how we can mirror the best performing strategies on here? I already have a linked to my broker account.

Any advice greatly appreciated

croisssan posted:
It should be understood that it is quite difficult to achieve success in this industry in this way. Rather, it is not even difficult, but completely impossible.

To get success, you need experience and knowledge. Copy trading can put you in great danger.

It is possible to profit from copy trading in platforms, but it is not easy, and you shouldn’t expect instant riches from it.

Traders copy the trades made by skilled traders through copy trading. However, traders should dig deeper when analyzing the popular traders’ performances.

Copy trading is a method of Forex trading in which traders copy the trades of more successful traders. This can be done with a variety of brokers. Beginners can use this method with a few caveats to increase their profits with higher leverages. Always use proper money management when trading any method, including copy trading.

Well, it's a good way to earn but not that much good way to learn for me. If my kind of person sees a very successful trader I can always copy, it automatically eludes me from learning how to analyze. I think getting anything out of Forex requires motivation.

I don’t think relying of others trading signal or service is a good choice! Forex is the most sensitive profession, so I don’t like to depend on others! This is why, I trade manually.

Copy-trading is the first thing I will try once I open a real trading account. Initially, I thought to stop demo trading and shift to a real account. Then, I changed my mind. I decided to open a real account for copy-trading and I will continue trading on a demo account. I want to see how I can benefit from copy-trading. Maybe I will postpone my manual trading on a real account.

Copy trading can be good if you are able to find a good trader to copy.
You can find reliable traders with good track records on copy trading platforms like Zulutrade, etoro and naga. Can give them a try on their demo accounts for better clarity.

You can usually set specific conditions when subscribing to CT, like if your account balance is 1000$ and CT providers 1 000 000$, obviously your copied trades wont be same lot sizes, since provider is probably trading with higher volume. You can set max % you can lose or earn with each trade, or daily % so stop copying trades once you have lost / earned enough money. If you pick a provider who is highly successful, I dont see a reason why It would be a bad idea, just keep in mind your profits may not cover subscription cost.

KAnthony posted:
hi all. i'm newbie and dont know much things. i dont even know about copy trading. see here reviews it's danger. why so?
copy trading means i open the same trades as other person? what about leverage? and margin level?

When it comes to leverage and margin levels, you can customize the settings to fit your own trading needs and risk appetite. You need not copy other traders' exact settings. And as for my experience with copy trading, I get to see some decent trades and I'm also learning a ton. If you're new to the game, I'd definitely recommend you to give it a try.

Copy trading mainly enables individuals in the financial markets to automatically copy the positions opened and managed by other selected individuals.

Copy trading is a very simple process since you only need to decide the amount you wish to invest and copy everything they do automatically in real-time. Hence, when some trader makes a trade, your account follows it as well and makes the same trade.

KAnthony posted:
what cope trading do you use? do you have some advices?

Personally, I use zulutrade to copy traders, and it's been a good experience for me. You can also test the platform on their demo account to see for yourself. Worth giving a shot!

the success of copy trading depends on others , for that reason i dont like this approach.