Get to know Copy Trade in eToro USA Forex Investment, What is it?

When I started to learn to trade, both foreign exchange (forex) and other instruments, I felt “suffocated” to begin with. Why is that? Try opening a search engine and typing in “trading strategy”. Surely you will find a lot of search results. For beginners, the various choices that are encountered can be confusing. Confused about choosing and where to start. Of the millions of trading strategies that you find through that search engine, I will summarize them into just two strategies. So, is it true that the essence of millions of trading strategies is only two? Not really, for more information read this article

According to my colleague who works as a senior software engineer, the programming language or line of code only consists of “1” and “0”. Likewise with forex trading. There are only two basic types of technical analysis that need to be understood before trading forex or another trading, namely counter trend and trend following strategies. However, before learning more about these two basic strategies, you need to master technical analysis first. Because you will not be able to trade without understanding technical analysis. When you refuse to study technical analysis, the trading strategy you have to learn increases by one, namely the strategy of guessing numbers.

However, because of the guesswork element, the strategy becomes more like chance. Therefore, let’s eliminate the guesswork element so that we can still trade on a good basis.

Which strategy is more appropriate?

I can not give a definite answer to you. Because only you can recognize your preferences.

So, when you find a strategy, the first thing to realize is that the strategy you are studying includes the first or second strategy. Remember, every strategy has its drawbacks. For example, in my experience during trading, both strategies have basic drawbacks. The counter-trend strategy is a strategy that has a higher probability of occurrence than the probability of failure. Meanwhile, following a trend is a strategy that is less likely to occur than the possibility of failure. You will think, why would anyone want to do a trend-following strategy, right? The answer is in the second explanation. The counter-trend strategy has a smaller profit potential than the trend following. In fact, in the events that we study, the results of the trend following strategy can be many times the success of the counter-trend. That’s the answer to why a big risk can produce a big reward as well. Because, following a trend that has a large reward, the risk of failure is higher than the counter-trend. This makes people who use the strategy feel that the risk and reward are worth it. So, are you a counter-trend or trend-following group?

Often we run out of ideas to find the best Forex when trading Forex. Because of this, we often ask friends or relatives who are both traders and are considered quite reliable what Forex transactions are, then we follow to buy the same eToro USA Forex or known as copy trading.

Well, in the world of trading, the term copy trade is known which is considered an instant way to get trading ideas, of course from people who are experienced and hope to get the same profit.

Get to know Copy Trading

Copy trade is widely used in currency trading (Forex) eToro USA, which is a strategy that allows investors to copy transactions of experienced and successful people from their methods in real-time.

In Forex investing, you can choose expert traders to be your role models, whether people you know or subscribe to as members in Forex groups.

In copy trading, the success of choosing a trader to follow is the initial key to the gate of success. For that, you should first determine what criteria you need to match the goals you expect.

Tips for doing Copy Trading

1. Choose Platform

If you want to start copy trading, you must first find out which platform eToro USA provides this copy trading service.

2. Find a Master Trader

As mentioned earlier, in choosing a master trader you should take into account several aspects, including trading statistics, the amount of profit and loss to how long the trader has been a master trader on the platform.

3. Determine the Investment Amount

In trading, it’s best not to go all-in by placing all your money in one investment instrument, or even the same master trader. The amount of investment must be proportional to the budget. Make sure your investment does not affect the fulfillment of daily needs.

4. Perform Analysis

According to the performance of the master trader you copied, you can determine whether you want to increase the investment amount or replace another master trader if it is more profitable, here for more information

Simonne Stigall

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