In previous article I told you about “Copy Trading” system and represent you the Pros and Cons of this method, now I want to give you 10 reasons to do copy trading.
Copy trading effects:
Less hassle, more profit and easier learning
1. Reducing the risk of transactions
As mentioned earlier, the risk of capital loss for new users is very high and copy trading can greatly reduce this risk.
2. Eliminate emotions
It removes emotions from trading. It can be hard to avoid emotions when you are risking your own money, and emotions can lead to irrational and suboptimal trades. Copy trading removes this issue, as automated trading makes it impossible for your emotions to affect results.
3. Learning and gaining experience
Over time, by observing the different trading methods of professionals, we also examine these methods and use them to our advantage in the future.
4. Free up your time
Copy trading helps you to free up time. As copy trading can be completely automated, you can participate even if you have a day job. Or you can use your free time to learn more about markets. You can also dedicate it to your hobbies or social life.
5. Possibility of diversified investment
Currency portfolio diversification is an important principle in trading. One of the advantages of copy trading is the possibility of copying from several different traders. This makes you have the right variety to invest in the market and use different aspects of the market to your advantage.
6. Profitability and High efficiency
If you choose a good trader who has all the characteristics of a good trader, you will also have a good profit rate.
7. Simplicity and comfort
As a newbie or a person who is not interested in getting involved with market dynamics, you can only invest by following an expert and change your trader whenever you want.
8. Account control
One of the advantages of copy trading is that in this method the owner has complete control over his assets and only through the copy trading system part of his assets are connected to the main trader’s account, in this way whenever the follower trader makes this connection, He can withdraw his money.
9. Clarity of loss limit and capital conflict
You can specify at the very beginning how much of your account capital will be involved in copying. For this reason, if a loss occurs, you can prevent the loss of your entire property.
10. Complete transparency of the copy trader’s history and transactions
When you enter an exchange and intend to choose a trader, all the information, path and history of the person will be displayed for you. This advantage will help you a lot in choosing a reliable driver and you can determine which traders have profitable strategies.