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Copying trades as a newbie


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46 replies to this topic

#41
myregister

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If I prefer to trade with Tickmill. Because in addition there are many advantages that I can get, I also can get important support that can add to my motivation in order to run trading activities, so I can become more focused and concentrated.

Does Tickmill have some kind of social trading where you can communicate with the other traders and copy their trading system? As far as i know, there are only a few brokers that offer the same feature like that. Copy trading is good innovation but may teach newbie to lean on the others without the need to change their own trading style, but i think it maybe a good start for them to start forex.


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#42
arjumand

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These social trading type stuff seems quite helpful to both new and experienced traders where the former can copy the trades of professional traders and the later got a chance to show case their skills, however new traders should learn a little bit before going to forex trading.


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#43
sidejob

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That is the risk friend of using this feature. My best take on this feature that it will temporarily give you chance to make the profit but doesn't teach you anything. Good for someone who doesn't want to learn, also you cannot manage the risk here because practically you are copying someone's strategy and follow all his/her foot steps.

I said before that this feature is for someone who is "LAZY" enough to learn. I think this is a good motivation for traders to learn because if they learned by themselves, they mostly lose and discourage themselves.  Also following somebody means if that trader is winning, we are happy but if they are losing, we are sad.


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#44
Naron

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I like the attitude of Lite to their customers. All information about trade and about new trends in the market is in the public domain. This is convenient :)

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#45
myregister

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These social trading type stuff seems quite helpful to both new and experienced traders where the former can copy the trades of professional traders and the later got a chance to show case their skills, however new traders should learn a little bit before going to forex trading.

I also agree with you, very useful for all traders and it all depends on them to use it in the right way or not. It could boost their earning and will bring them closer to the more profit. Copy trading will give a newbie some kind of encouragement to keep continuing their activity as trading while keeping them confident to learn.

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#46
sidejob

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These social trading type stuff seems quite helpful to both new and experienced traders where the former can copy the trades of professional traders and the later got a chance to show case their skills, however new traders should learn a little bit before going to forex trading.

If we look from overall perspective, copy trading one of the most innovate feature and very good for the newbie to learn and earn at the same time. All traders actually could get the benefit from it as long as that trader able to choose the right trader to copy, this is not one way since trader who copied by the other traders get some compensation for someone who copies their position.


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#47
uncle gober

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Absolutely right, everything is back to good and proper trading management. Good and proper management must be accompanied by sufficient trading capability. Because if we as a trader can manage the trading we have with good and true, automatic profit in the can will be maximal.


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