Who does not want to earn easily? To earn easy way, Copy Trading Forex demand is higher in the globe nowadays. This why Copy Trading FBS is renowned. Most interestingly, there are greater opportunities for Copy Trading South Africa. Copy trading Forex, in fact, opens a new door for the people of South Africa.
You know what? Many novice traders use copy-trading strategies when they want to enter the markets without having in-depth knowledge of how trading works. While this form of social trading, which allows you to duplicate a trading strategy, has many advantages. Yes, there are also some risks that need to be taken into account. Actually, if you know about the risk, it will be easier for you to escape from loss! Again Copy Trading FBS is available in the world with a unique service in South Africa.
Few Important Questions
What is copy-trading? What are the differences between social trading? What are the advantages and disadvantages of copy-trading? How to integrate it into your trading? Is it a good thing to use a copy-trading strategy? These are in fact the major questions that pop up in our mind before starting to plan for copy trading forex.
Copy Trading Vs. Social Trading
The terms social trading and copy-trading are too often used interchangeably. Whereas in fact, copy-trading is only a form of social trading. Social trading is a method that allows traders to instantly access market information that is shared online by other users. Your trading strategy here is therefore based on data and analysis performed by other traders.
Using copy trading forex in your investment strategy consists of automatically copying another trader’s activity. You will automate your trading strategy by replicating the positions of one (or more) trader(s) on your trading account. Appealing, right?
As you will have understood, social trading allows you to obtain market information from other interested parties. It is up to you to use it.
Copy-trading, on the other hand, consists of automatically duplicating the positions of another trader that you have selected on your trading account.
Positive Sides Of Copy Trading South Africa
- Using a copy-trading strategy allows you to take advantage of the markets without having any real knowledge. This actually is a great opportunity for a novice. You can even take initiative to copy trade fbs in South Africa.
- Using a copy-trading strategy allows you to trade without having to spend time on trading. Obviously, it is not a time-killing trade!
- Using a copy-trading strategy generally allows trading 24 hours a day.
Demerit Sides Of Copy Trading South Africa
- You are 100% dependent on the performance of the trader you are following.
- You’re 100% dependent on technology.
- You have no opportunity to make discretionary choices.
Is A Copy-Trading Strategy Right For You?
In order to improve your decision-making process, it is important to take into consideration what other traders are doing. This will give you an overview of what is happening in the markets.
Social trading and social networks can help you understand what the financial community thinks. This will give you an insight into the psychology of investors before you enter a position. Again, this will give you an idea of what the majority of traders think and do.Furthermore, this will make it easier to determine the direction and strength of a movement, volatility or potential trend reversals. This is how you will be able to adjust your trading decisions. The decision is in fact very clear that is to say-if you don’t want to trade directly, you can use a copy-trading strategy.
If you are a beginner or don’t have a lot of time for trading, automated trading via a copy-trading strategy will allow you to duplicate a proven investment strategy. Copy trading forex South Africa can also allow you to use your free time for your favourite activities or to learn more about trading while making money at the same time. Not to mention that an automated trading strategy can help you trade markets that are not in your time zone. With copy-trading, you don’t have to deal with the stress of trading or sit at your desk to follow the markets for hours on end. By using copy trading South Africa, you don’t have to deal with your own emotions that can negatively impact your trading performance, especially if you have difficulty controlling them or are not used to trading. Since with copy-trading, your trading account copies the positions from a profitable master account that you will pre-select, one of the most important steps is to carefully select the trader you are going to copy.
It’s not just a matter of looking at its performance. You need to look at a lot of other information to make sure that this trader is suitable for your trading capital and the level of risk you are willing to take.
So to start copy trading forex South Africa remember to check:
- the investment style,
- traded financial instruments,
- risk management,
- associated performance fees
- and other statistics such as average loss, average gain, level of exposure, profit factor or max draw down
You can easily trust Copy Trading FBS South Africa since it is maintained and monitored by the International Financial Services Commissions (IFSC). Again, Copy Trading Forex is a new and easy way to trade and make profits in South Africa. Wish you all a happy trading in South Africa!