In this article I am going to talk about Copy Trading and why you might want to try it out.
If you are interested in Forex Trading but do not have a lot of time to spend checking the market at all times.
Then you might want to check out Copy Trading.
This is also good for people who have been doing manual trading whose strategies are just not working out.
You could also use this chance to learn the strategies of an expert trader, as you will be able to review the trades they did.
What is Copy Trading?
Copy Trading is a way for you to copy the open positions of a more experience trader of your choice automatically.
What platforms should I use?
After signing up to any of those sites you would then be able to browse to their Copy Traders list section.
In eToro, the Copy Trader link can be found on the left sidebar just under Discover section. As for the ZuluTrade you just need to click the Traders link in the top menu.
In these sections you would be able to browse through all the traders you can copy. Their return values are highlighted so you can choose the one with the top return percentage.
You can also see the number or investors or copiers currently copying the trader.
Honestly right now the one that I would prefer to copy is the top trader in ZuluTrade. His win rate in the past couple of days are just insane.
The only problem is that in ZuluTrade you would need to signup for a middle broker. So you would actually deposit your money in that broker before you can copy the trader in ZuluTrade.
I would really love to see that top trader in ZuluTrade right now to join eToro as in eToro everything is straightforward.
You just need to click on the traders profile picture and right in the next page you can find the ‘Copy’ button at the top right corner of the screen. Very straightforward, very well done eToro.
How much money do I need?
You might be asking, do I need to have the same amount of money as the Trader I am copying?
Short answer is, no. Your money can be way less than the Trader you want to copy.
All you have to do is tell the platform how much you will deposit and they will do the adjustment computations for you automatically.
I will be doing copy trading for now as I would really love an expert to trade for me.
I think this is the future as this gives chance to people like me who got full-time jobs and do not have a lot of time at checking the market.
Right now, I miss a lot of active hours which is the ideal time to trade.
There is still a risk involve in this so please only invest what you can afford to lose.
If you want to learn more how you can earn money online using your capital. This article might interests you.