Trade copy services

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Copying Forex trades is a trading method that allows beginners to make profits by copying trades from successful traders. This allows you to invest your money with minimal risk and even people who have no idea about currency trading, make a profit in the Forex market.

Many people try their hand at the Forex market. But beginners often incur losses at the beginning of the trade, because they immediately understand all the terms, indicators, levels, etc. it is not so easy and takes a long time to learn how to trade profitably all the time. In this article, we will look at what to look for to effectively use copying trades of traders, as well as some brokers that offer a service of copying transactions.

The principle of the service of copying deals.

As the name suggests, you can directly copy the positions of another trader. To do this, you just need to connect your trading account to the trades copy service and select a managing trader. If a trader of your choice opens a position, then the same deal is opened in your terminal. 

When a trader closes a trade, your position is also closed. Most often, all this happens automatically. As a result, if the managing trader makes a profit, you get the same profit minus the commission that your trader retains. If the trader's trade closes at a loss, you get the same loss.

But all of the above does not mean that you have no control over the result of trading, as is the case with PAMM accounts. On most platforms, once you have established a link to a trader's account, you still can open and close your trades, as well as close and modify trader's trades.

This type of trading is becoming more and more popular as it allows novice traders to make money using the skills and experience of successful traders. Some do not trade themselves at all, but invest in such services, creating portfolios of successful traders.

When you connect to copy transactions, you should immediately set up the rules according to which your transactions will be executed, select the size of the lot to be opened, the percentage of the trader's lot, financial instruments, etc., those parameters that are available in the service of copying transactions from the broker of your choice. 

For example, you have chosen a trader, his statistics look promising, but in order not to risk and not invest all the funds at once, you can first set how much to invest in trading (for example, 10% of the deposit). 

In addition, a trader can have a deposit for thousands and tens of thousands of dollars, while you have a deposit of $ 100. Naturally, if a managing trader opens a position equal to 1 lot, it will be too big a risk for your deposit.

Therefore, to begin with, be sure to study all the parameters and settings of the selected trade copy service, so as not to lose all invested funds in the event of a possible drawdown. And don't forget: even though you don't trade yourself, it is still a highly risky activity.

Visit Acorn2oak-fx for more copy trading information.

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