Maybe its advantage is copy trading, followers can adjust position size according to their money management plan, not all brokers offer copy trading, some brokers use ZuluTrade as social trading facilitation, another way to investing forex is to use PAMM trading, and looking for the profitable expert advisor.
FXOday posted: Maybe its advantage is copy trading, followers can adjust position size according to their money management plan, not all brokers offer copy trading, some brokers use ZuluTrade as social trading facilitation, another way to investing forex is to use PAMM trading, and looking for the profitable expert advisor.
Of course, not everyone in the Forex market wants to do copy trading. Some people have different views.
Williamfreed posted: Copy-trading usually takes place using a dedicated and structured copy trading platform, such as that offered by FP Markets, or by connecting your broker account with other similar trading platforms.
A copy trade involves two parties, the trader and the copier. If a trader has enough experience and is demonstrating strong performance, he or she may be copied.
The traders will typically earn a commission for each copy they have. The commission depends on the platform or trader.
Copy-trading doesn't suit every trader. So, it can be very risky.
I can’t trust anyone else to manage my money no matter how skilled or experienced the other trader is. It’s okay to hire a mentor or take someone’s help but you can’t actually learn unless you take things in your hands. I feel that it’s also not possible to work on your emotions when you are simply copying another trader’s strategies on your account. You won’t feel the emotional turmoil one faces while taking any trading decision.
Copy trading can be good if you do not want to learn trading by yourself. And it's also important to follow copy every trades. If you don't follow every trades you may end up copying only the losing trades.
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Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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