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Social trading is not that complicated as people think. With the proper guidelines and tips, it’s as easy as writing your name on the paper. So, here are few tips that might be helpful to you.
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Social trading is not that complicated as people think. With the proper guidelines and tips, it’s as easy as writing your name on the paper. So, here are few tips that might be helpful to you. Familiarize yourself with the basic structure of the website, most notably the Newsfeed, Portfolio, Watchlist, People and Markets tabs. They are crucial to navigating the site properly and will provide you with necessary information.
By using the ‘People’ tab on the site, you can find the most popular investors. They are the best traders and, intuitively, you should be copying them to find the perfect ones that match your requirements. You can fine-tune your search using various filters. One of the filters allows you to specify your region of interest down to the country of origin of the investor you wish to copy. Besides, you can make smarter financial choices by filtering by an investor’s gain, the risk associated with copying them and the markets they invest in. Moreover, you can narrow it down further by specifying a time slot during which that particular investor made that gain. You can access this information by going into their profile.
Checking is very important in order to avoid copying unreliable traders which will end up harming your investments in the long run. Finally, make sure to copy active users that tend to share more about their latest investments and more interactive socially. Timing is very crucial when trading and so, ensuring that the person you copy has a healthy history of trades is imperative. Greed is not a good idea when it comes to trading and because of that, you should spend some time going through the long-term analytics of a trader before copying them. Going for short-term bursts of profit is not recommended and a steadier increase is far more beneficial.
After you’ve selected the traders you want to copy, you can use the CopyTraderTM system to drastically reduce the amount of effort you need to make. CopyTrader allows you to automatically copy someone far more experienced in trading and do everything in simultaneously with them. Thereby allowing you to concentrate on other tasks while CopyTrader automatically handles your work for you. However, since it is fully automated, the process of choosing a worthy trader to copy is critical.
eToro has a specialized program for skilled traders which encourages them to share their insights on trading for wonderful benefits while promoting responsible trading habits. You can join the program and prove your eligibility by proving you are a low risk-high return trader and you are respectably proficient at trading. Once you become a Popular Investor, the rewards are almost limitless. For every copier you have you get up to a 25% commission off of their revenue.
There is no limit to the number of people who can copy you and so, there is no limit to the amount of commission you receive. Moreover, there are 4 main groups that, depending on your performance, grant you special benefits. These include the Cadet, Rising Star, Champion and Elite groups, each with their own special perks and benefits for the Popular Investor that greatly boost the profits you can make. Therefore, becoming a Popular Investor is a very exciting goal to set for yourself. For more information please visit : ETORO broker review
