Copy trades of successful Forex traders
On the Internet, copying Forex transactions of successful traders is increasingly gaining momentum. This is not surprising, since there are only a small number of professional traders on the Forex market. Now, people do not need to delve into fundamental and technical analysis, study various figures to know the further movement of a particular asset.
What does the concept of “copying successful Forex traders 'trades" mean? This is when anyone can connect to really successful Forex traders using certain services that allow you to completely copy the activity of people on Forex and get a profit or loss from it.
How does copying Forex transactions work?
To understand how successful traders copy Forex trades, look at this diagram:
copying transactions in Forex
After analyzing all the results of the selected traders for copying their trades, you need to configure the copy parameters by selecting the copy method first.
Under the parameters of copying transactions, you should understand the volume or proportions. By the way, some services for copying Forex transactions allow you to configure the work so that the copied Forex orders are not opened with the same lot as the trader who trades, but are smaller or larger.
For example, an investor does not have large funds to allow himself to copy a trader's trades with 1 lot, he can set smaller volumes in options, say 0.01 lot. This will allow you to check the profitability that the trader shows, while the risks are significantly reduced.
Important: as soon as copying Forex transactions in the service is configured, its process will immediately start.
As soon as the trader starts trading (opening or closing orders), his trades will be copied to the terminal of the person who uses his service. At the same time, the Deposit remains on the balance, and it is not transferred anywhere. The trader will not be able to do anything with it, since he does not have access to it. An investor can withdraw copies of Forex transactions at any time if they need to go somewhere else. This process can then be resumed at any time.
Settings for copying Forex transactions
So, we have learned that hundreds of thousands of traders work on certain platforms, each of them has its own Forex trading strategy, which brings a certain percentage of returns every month. The server equipment monitors all incoming trades for opening and closing orders, and duplicates them to other market participants who have agreed to copy the trades of successful traders.
You can set up copying transactions in the following modes:
If you want to trade on your own, but there is a lack of confidence in yourself and in your own abilities, you can simply analyze the incoming signals and compare them with your entry points to the market before making a decision to open your trades.
Semi-automatic mode to copy transactions. This mode allows you to track all signals when entering the market and choose which trading strategy to copy on your account. This type allows the investor to open a trade according to the received signal, and if the situation has turned negative for the investor, he can close the order without waiting for the decision to close the managing trader himself.
Copy Forex transactions on the full machine. Here you need to decide whether a particular type of trading strategy is suitable for you as an investor or a novice trader (for example, you can use the filter to select the type of trading: conservative, medium, aggressive). The choice will depend on what profit the investor expects to receive and what risks he is willing to take. As soon as the settings are completed, all signals from the selected vehicles will be sent to the trading terminal.
How do I choose the best trader to copy their Forex trades?
copying successful traders ' trades
The task of every investor or just a novice trader who decided to earn money by copying the transactions of successful Forex traders is to find at least a few of the best traders-managers among hundreds of thousands. After all, this will determine the only goal that each investor has-to make a profit.
When choosing the best trader or group of traders to further copy trades on the Forex market, you need to be able to correctly perform monitoring analysis.
The first thing to pay attention to is the size of the trader's capital. The larger it is, the higher the level of professionalism of the trader. This means that he is confident in his actions and, of course, in his trading tactics.
The second thing to look at is the stability of trade. If a trader's account has existed for a long time, this indicates its reliability.
The third is the profitability. The higher the percentage of profitability, it means that the trader uses aggressive trading tactics and the risks are very high.
Fourth: always look at the number of subscribers who have agreed to copy the trades of successful traders. You can also see how his Deposit increased over time, and there were serious drawdowns.
Finally, what currency pairs does the trader prefer, and how many trades does he open for each asset? You can find out how much was lost for each transaction, and how much was earned.
Best services for copying Forex transactions
In principle, every Forex broker now provides an opportunity to copy the transactions of top traders. Let's look at the most popular services that allow investors to earn money when copying the trades of successful traders that will be pre-selected.
The following services are considered the best:
We will not consider all services for copying Forex transactions, we will only tell you about Share4you. This platform, according to most market participants, is considered one of the best.
Share4you Forex transaction copying service
Forex transaction copying service
It is noteworthy that you can set your own settings for different leader traders. In addition, there is an option to set the daily limit for opening transactions. There is a choice of specific tools for trading, etc.
Important: if the investor does not have enough money on the balance sheet to open another transaction, it will simply not be copied.
You can top up your balance at any time, there is no limit. A trader who is a Manager can also copy other traders ' Forex trades.
Now there are many services that allow you to copy the transactions of other traders. One of them is "Share4you". This is a product of Forex4you broker. This platform has everything you need for an investor who wants to earn money.
Copy trading and PAMM: what is the difference?
Attention! Copying Forex transactions should not be confused with PAMM accounts, these are different things.
What's the difference? When copying Forex transactions, the money does not go anywhere, it remains on the account of the investor or trader who made the decision to mirror all the actions of the best traders.
As for PAMM accounts, everything is arranged differently there. A person deposits their money to the account of a trader Manager, who trades at his own discretion and does not bear any responsibility for the loss of these funds. In other words, the investor sees only the balance sheet in his account, but he does not see what strategy the trader-Manager is trading with the total capital. It is not possible to close a trade on time if the situation on Forex has changed dramatically.
The only thing that PAMM sites and copy trading have in common is that both tai and Tam traders manage the investor's accounts. Naturally, for copying the trades of successful traders, their leaders will receive a Commission on Forex, if the transactions are successful, of course.
The service of copying Forex transactions "Share4you" is just perfect not only for the trader, but also for the broker, and, of course, for the investor. The broker will receive money for its service from investors and traders, and of course can count on a legitimate profit.
A trader trades on relatively small amounts of money and makes a profit through investments from those who copy his trades. Naturally, it will give a certain percentage to a trusted broker that provides a trading platform and a service for copying transactions.
The investor is ready to entrust their money for profit to a trusted broker who has all the appropriate permits for their activities.
The ideology of the "Share4you" service is to maximize the interaction between the broker and the investor. This ensures maximum capital control.
To make a profit, the investor must fully follow the trading tactics of its Creator, otherwise it will not be possible to make a profit. At the same time, the policy of the above-mentioned service obliges the owners of trading platforms that provide the opportunity to copy Forex transactions to give as much freedom as possible to the investor.
Many opportunities are open to the investor. He can choose which trader to invest money in. This will be the entire amount or a certain part of it (choosing a trading lot).
The investor can even choose the days of the week when transactions will be copied and when they will not. After all, some traders do not recommend trading at the beginning of the trading week and at the end of it. That is, on Monday and Friday.