Copy Trading (1)

1. Copy Trading Guide: How to Copy Trades for Maximum Profit Have you ever been inspired by trading mentors and desired to have a journey like them? Well, if yes, then you can surely fulfil the desire and earn a profit like your mentors or the best traders. Do you know how can you do so? The answer is copy trading. The strategy is widely used in the trading market and is considered the best for beginners. Wait, don’t you know about copy trading? Not to worry. In this blog, we will discuss the strategy and how to practice it with pros and cons. So, let’s get started. What is a Copy Trading Strategy? Copy trading means copying the trades or trade strategies from market experts or successful traders. Let us take an example: suppose a person wants to become an actor. Now, in order to learn to act, the person will follow the footprints of any of the favourite successful traders. Copy trading also works in the same way. Generally, when beginners enter the market, confused about what to do and how to do it, they start following other copy traders. Copy trading is among the widely used trading strategies in diverse markets. Traders with a systematic approach can make significant money using it. Types of Copy Trading Social Trading: Social trading platforms for beginners provide valuable insights from social media networks. Telegram, Facebook, WhatsApp, and Discord are some popular platforms on which to get copy trading ideas. Social traders get copy trade insights from different successful traders. Some traders even use signals received in groups from random sources. Mirror Trading: Mirror trading is more of a sort of professional copy trading. Under this, traders use copy trading platforms to copy the strategies and trade ideas systematically. Traders can use a range of algorithmic software to replicate copy trades automatically. Advantages of Copy Trading Learning:

2. Knowledge is the most important element to start trading in the financial markets. And copy trading strategies are more about practical knowledge. A beginner may not understand the market adequately from books or theoretical concepts. For proper knowledge, a trader needs to trade in real-time market conditions. You cannot risk your hard-earned money to learn to trade. However, with copy trading, you will get an opportunity to learn from experienced traders. High Profit Potential: The profit potential with copy trading is more than with any other strategy. You are following people with great knowledge of the market and a good track record. Such people organize technical and fundamental analyses to identify potential opportunities. Thus, copy traders can make more informed decisions, and profit potential is also high. Assistance to New Traders: With the right copy trading platform, traders can get trade alerts and assistance throughout their journey. Copy traders can ask their mentors for their doubts and queries. Also, they can even seek their help if they face any issues in copy trade forex execution. Time-Saving: Identifying market opportunities takes a lot of trader time. A trader needs to organize technical, fundamental, and sentimental analysis to make the right predictions. A trader needs to watch trading charts and use different indicators and technical analysis to identify buy or sell opportunities. In addition, traders need to watch current market conditions such as news, announcements, and economic calendars. All this process consumes a significant time. However, with automated copy trading, other people will do this for you. A trader just needs to execute the copy paste trading based on signals. Risk Management and Diversification: A trade may result in profit and loss. At the initial stage of trading, the chances of loss are higher. And the more experience and knowledge, the more importance a person gives to risk management. Generally, market experts follow proper risk and leverage management when placing copy trades. Cons Dependency: Copy trading is all about following the other person. It means you are dependent on others to plan and execute your trades. In such cases, you cannot even make small changes in your trading journey. Also, if you need to execute trades on your own, you may not be able to do so. In addition, copy traders may not enjoy full control over their copy trading strategies.

3. Cost Involved: Why will a person share the copy trading signals for free? Nobody will do so. So, to get copy trading services, you need to pay a significant amount. And not all traders can afford to do so. Traders may find free copy trading ideas on social trading platforms for beginners. However, on such platforms, the win rate is less. As copy trading ideas are free, you cannot hold anybody responsible for making the wrong trade decisions. Difficult Selection: Selecting the right copy trading platform, software or market expert is difficult. In the market, there are numerous vague software available. In addition, the number of people claiming to be a market expert is also higher. So, to select the ideal one, a trader needs to organize proper research and analysis. The process includes analyzing track records, previous performance, copy trading reviews, win rate, cost, suitability and many other factors. How to Use Copy Trading Strategy on Beirman Capital Beirman Capital is a copy trading broker that allows you to trade in cryptocurrencies, commodities, forex, comex and other CFD products. Traders can use a diverse range of copy trading strategies on our platform, including copy trading forex. Here is how: ● Start with opening a trading account with us. Visit the contact information page, fill out the form, and complete the KYC formalities. ● Select an ideal copy trading service or individual trader for copy investing. ● Deposit the fund and start copy trading stocks once you receive copy trade ideas. To check accuracy, traders can even practice copy trading on a demo account. ● Once you think you can trust the copy trading platform, start placing trades. Monitor, adjust and take an exit a trade according to market conditions. Use copy trade strategies for proper risk management. Bottom Line Copy trading is an ideal strategy for beginners, high-frequency advanced traders and passive traders. Getting assistance from people with good knowledge and experience is never a bad idea. However, remember that you should not depend entirely on the copy trading platform or the copy trader. Get a little understanding of the market so that you can tackle the limitations of the strategy effectively and make maximum money. FAQ What is copy trading? Copy trading means copying the trades or trade strategies from market experts or successful traders.

4. Is copy trading legit? Yes, copy trading is a completely legitimate or legal strategy for trading in the financial market. Does copy trading work? Yes, copy trading actually works. Many copy traders have made a good return just by copying others. Is copy trading profitable? Yes, with the right copy trading strategies, copy trading can help you generate a significant amount. How does copy trading work? Copy traders get copy trading signals from market experts or copy trading platforms and place trades following them.