Anyone succeeded in copy trading?
- Thread starter myfx
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- copy trading
there's lot of copy trade service out there. my past experience are with zulu, myfxbook auto trade, and mql signal service.
zulu are old service by now, bit shady one, mql signal service are more like free for all signal service, instan approval as signal provider upon registration, even we can use demo account to become signal provider. myfxbook autotrade are best among all, found these feature while checking Tickmill website where I held my ECN account. had more reliable condition for copy trade, strict requirement for autotrade provider. and best thing is I dont need to keep my mt4 run on my pc just to make sure entry trade are executed, because both account are fully linked.
Well it is a good option for investors. But then if your amount is big how would u allow some stranger to trade ur fund without knowing him. I think a good amount of R&D is needed on whom you are following in these kinda services.
When copying someone's trades it is very important to understand that the recent performance is not a signal of a good performance in the future. Usually, it is better to diversify among several consistently successful trade providers.
Copying other traders is a great idea but the problem is that the trader you are copying is unable to sustain its performance in the long-term. I think the best example is zulutrade as someone said here, their top signal providers constantly change and it just shows you how unstable they are. I prefer not copying anyone unless I personally know the trader who he or she have a huge reputation that I can find on google.
Hi,
i did some good copies to some good traders, and i did make some good profits, the secret is to chose the good trader.
there's no secret.... the remain untold is, how do you define a 'good traders' is?
social trading are in their peak trending.. and got more similar website service each day.
I used it for a bit and made some profits however after short time my account blown, and i have decided not to follow this kind of trading anymore. I am now looking into portfolio management offered to my from ironfx which seems to have good returns.
Fischer, I am currently considering to invest some money with portfolio management with ironfx but I also remember using a social trader with them. It was actually very good because it allowed you to see the historical transactions of the trader you were about to copy as well as the percentage profit or loss for different periods of time. I enjoyed using that social trader because it allowed me to select the method of copying so that I didnt have to risk big amounts of my equity.
I am familiar with their portfolio management and it seems a lot better than copy trading and a safer option too.
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