Social Trading

[cristio]

Hello,

Has anyone here been succsefull with social trading?E toro and Zulutrade mainly.I would like to know if possible what are youre criteria for selecting good traders.I managed to find a video course that does that but its full of crap so i would be needing a little help from an expert hand.

 

[awesomefx]

Social trading will be successfull only if you provide the signal.
Best thing is to learning to trade, dont let others to trade.
There are many free resources available in the internet which is more than enough to make a living out of trading. All the best for your trading journey

 

[cristio]

Social trading will be successfull only if you provide the signal.
Best thing is to learning to trade, dont let others to trade.
There are many free resources available in the internet which is more than enough to make a living out of trading. All the best for your trading journey

Isn`t true that you will blow up 2-3 account while you learn and also you have to have a robot psycology in order to be able to trade what i mean by robot is not be affected emotionaly and only a certain type of people can trade the one that can take the emotions out of the equation

 

[arigoldman]

Trust your own judgment.

 

[tomorton]

Do not follow other traders - but do learn from other traders and then do what's right for you. You understand that only from trading yourself.

 

[Lord Flasheart]

Guys its possible to make good money from following other traders.Its natural to assume that you need to follow them in a positive light. Not so, all of the top traders at zulu have ended up blowing their accounts and nearly always use a strategy that has huge stops and increases after a loser. However you can follow zulu traders in reverse. its not as simple as just ticking the reverse button,but it can be done with good effect, but make sure you fully understand what you are doing

 

[Forexmospherian]

Hello,

Has anyone here been succsefull with social trading?E toro and Zulutrade mainly.I would like to know if possible what are youre criteria for selecting good traders.I managed to find a video course that does that but its full of crap so i would be needing a little help from an expert hand.

I think others have mentioned the main problems - the trouble is the large majority of the so called "good traders" all end up burning their accounts out - some in under 6 months -others - depending on their luck maybe can go a year or even longer.

Ideally - you want traders who use tight stops for what ever size average target they are after - ie 20 pip stop for targets of 50- 100 pips - 50 pip stops for targets of 125 to 200+ trades - and if you can get some profile on them - they need to be already trading for over 5 years ( that rules out 90% ) and full time and have some type of consistency.

You just don't want to see 3 winning months and then 2 losing months ( yo- yo trading) - if they have losing weeks or months - the losses need to be small - ie if average win month is say 10% + - then a loss month needs to be under 6% - not 15 or 20% as that shows they and their system are not adapting.

Trouble is most "newbie" traders think - if its going to take me a couple of years or more to trade OK ( no normally it takes longer ) then I may as well try and earn a bit of money following somebody really good.

Problem here is as you probably know - 80-90% of traders are no good ( they lose money consistently ) and then another 5% + are just in the "luck " stage and not had their account wiped out as they have not suffered 7 or 10 losing trades in a row and think on a 70% win ratio - it can never happen ( wrong).

I only know personally of 3 traders I would follow - and none of them are on any any social "copy" sites - and 2 of these traders have both been trading FX over 15 years - that maybe sums it up

GL

Regards


F

 

[NVP]

don't follow the circus acts ..........follow the steady eddies not trying to play compettion style strategies

better still - grow a brain and trade yourself .......

N

 

[mlawson71]

I was considering it as a newbie, but ultimately rejected the idea. I don't trust anyone but my own judgement and decisions. I'd rather take responsibility for my own failures - and profits - than be annoyed at somebody else's.

 

[radex78]

Finding profitable signal provider, maybe we can check out on monitoring account, usually good signal provider they will get many subscriber and we can test first, mql5 also one site as social trading community and if you expert might take benefit from social trading community

 

[radex78]

Social trading is place where among trader, signal provider and broker meet in one community, there any expert trader become signal provider and many beginner become subscriber to copy trades, there are several website social tradng like as zulutrade, also mql5

 

[Pat494]

Look at the trader's chart. No big draw downs. Just steadily up if possible with only small wiggles.

 

[SmartGeek]

Social trading is place where among trader, signal provider and broker meet in one community, there any expert trader become signal provider and many beginner become subscriber to copy trades, there are several website social tradng like as zulutrade, also mql5

That's quite a nice and simple explanation, thanks mate for clearing the idea of the Social Trading for me.

 

[progix]

In my opinion, social trading is getting popular each day due to its ease of copying trades of senior successful traders and in the meantime showcasing your own skills.