Managed Foreign Currency Funds

Copying trades of successful traders, 5 tips

copy-trading-forex-auto
copy-trading-forex-auto
+

If you strive to make a good profit in forex currency trading, but at the same time do not have enough experience yet, the optimal solution for you is to copy transactions of experienced and more successful traders. Also, copy trading ( from the English copy trading ) will suit you if, due to lack of time, you cannot conduct trading entirely on your own. 


Copying transactions allows you to significantly save time, while successfully completing even the most complex trading operations, without actually taking a direct part in the trading process - www.acorn2oak-fx.com/forex-copy-trading.html


But at the same time, it should be understood that copying transactions should be thought out and balanced. Choosing an experienced trader, opening a special trading account with a copy service such as Earnex Exchange, and replenishing it is only part of the task ahead. Therefore, we offer you five important tips for successful copying of trades:


  • On the official site for copying deals, the user can see a list of traders according to the leaderboard. For each nickname, there is a small graph that demonstrates the trader's success. Thus, you can study and calculate the possible profitability from copying his trades and trading operations.
  • Pay attention to the profitability of the trade. By clicking on a trader's chart, you will see an indicator of his profitability. The higher it is, so, consequently, will be able to earn more money, and the more effective you own mines Trading ( Eng. Copy- trading ). However, try not to base your choice of a trader on profitability.
  • Don't forget about the age of the account. If you see that the account was opened just a couple of days ago and has high profitability, do not rush to copy the trade. It may well be that this is only a temporary success of the trader, which may soon fade away. You can assess the real success of a trader only by studying long-term charts. Therefore, it is worth choosing from them.
  • Attention to trading activity. It is also necessary to take into account the factor of how often a trader performs trading operations. Some traders work as if they were established, making up to 10 trades a day. And others may not do anything for weeks. In any case, we recommend choosing traders who trade frequently. It is unlikely that you will be interested in copying trades of traders who are active on Forex a couple of times a week, or even less often.
  • And most importantly: The Law of Money Management, which all experienced traders know about, never use all your cash in a single transaction. Even if you are one hundred per cent sure that it will win. Be smart and balanced. There are and always will be risks of failure, so your task is to minimize their number and consequences in the process of copying traders' transactions.


At the end of this review, I would like to remind you about the most key rule of any investor, which should not be forgotten in the matter of copying transactions: 


Don't put all your eggs in one basket!


High Yield Managed Forex Accounts - UK Regulated


forex_copier

Check out forex signals where you are sent trading signals through a number of channels, and you can in turn use these signals for you to trade with. Similar to copy trading but not automated. Read more here.