A trading method where you copy the trades of others and execute the same trades in your own account
The trading method where you copy the trades of others and execute the same trades in your own account is often referred to as “copy trading,” which is another term for social trading. This approach to trading involves replicating the trades of others in your own account simply by copying them. As it allows trades to be replicated merely by leaving them alone, it can be considered an optimal trading method for Forex beginners or those who are unable to generate profits consistently.
On cTrader, operators offering automated trading, known as strategy providers, are made available. Traders around the world can utilize algorithms for their trades and can copy these trades.
The ‘smart investors’ of the future will not only manage their own trades but also leverage social trading for a ‘hands-off trading’ approach, enabling efficient asset management.
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It’s easy as you just need to choose the trader to follow
The most significant appeal of social trading is that all you have to do is choose someone to follow, and the rest of the asset management will be done automatically. Unlike traditional EA-based automated trading, there is no need to install software or prepare a PC to run the trading software. cTrader Copy is a feature that can be used from anywhere, whether via mobile, web, or app.
All you need to do from then on is to check the trading situation daily and decide whether to continue following or choose someone else. A very simple trading life can be achieved.
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You can start and stop at any time
You can find a strategy provider to follow and start/stop at any time. When choosing a trader to copy, you can check the performance of their past trades, giving you an understanding of what kind of trading method the strategy you are copying employs, what kind of risks it takes, and what kind of profits it makes.
Even if you want to change the strategy provider, the settings to ‘follow/unfollow’ are simple, making it much easier than using an automated trading tool.
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Even FX beginners can make a profit
Social trading, simply by following excellent strategy providers, can be a trading method that allows even Forex beginners with little trading experience to make substantial profits.
Forex beginners with little trading experience can not only follow strategy providers, but by having the trades of successful traders copied into their own account, they can verify the contents of the transactions and learn trading skills in the process.
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You can also become a strategy provider
Strategy providers include not only hedge funds and institutional investors, but also discretionary investors who are good at asset management, and signal developers who operate through automated trading.
If you are confident in your trading, you can also become a strategy provider if you meet the conditions. In that case, you will be rewarded based on the number of followers and the results of your trades, allowing you to earn profits repeatedly.
* When using cTrader Copy, you will depend on the trading performance of the strategy provider, so risk management is necessary. As with trading on your own, it is important to take risks into consideration and carefully select the trader to copy after thorough examination.
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