How can a beginning Forex trader achieve success in trading Forex? This is a burning question. Should a broking company with easy registration and a bunch of catchy bonuses and promos appear in the industry, a whole army of unaware rookies fall prey to those empty promises only to lose their money. Still, trading financial markets can be pretty beneficial.
But for client-oriented companies interested in their client success, the industry would have already died. Luckily enough, there are reputable broking companies educating their newbie clients and allowing them to make money even without being personally involved in the process of trading currencies or any other financial assets. The thing is that the contemporary Forex industry has evolved drastically over the last decade. These days, virtually anyone can benefit from currency trading provided that he/she has some money to trust to professional managing traders or to follow their trading tips.
While some companies provided PAMM services, others make it possible for a retail investors to copy successful traders' positions and benefit along with them. The process is automatic and doesn't require complicated moves. It is sufficient to choose suitable traders and connect to ther accounts to copy their performance in the automatic mode.
On top of that, copying successful traders' deals is some kind of coaching since you can copy traders and learn by them while comparing your own predictions with the copied trades.
Indeed, trusting your finds with professional is considered to be the best and easiest way of investing in financial markets. With it comes to trust management, the most widespread way of doing it is PAMM services offered by most conventional brokers. Still, some investors do not want to trust their money entirely to a stranger regardless of his/her trading performance. They want to feel secure when they are in control of the situation and can decide whether it is beneficial and promising to continue cooperation at this point. Indeed, being in control of the situation at all times is a good trait of any mature investor.
What if you do not want to invest in PAMM account? What if you want to be supervise the trader's performance and simultaneously learn from it? In this case, copy-trading is the best choice. You decided which trader you want to copy trades from and when to stop doing it. You are in control of the situation at all times. At the same time, you can demo-trade and learn from the master trader's performance by means of comparing your predictions to his/hers.
With that said, you can learn from your own mistakes or from others' mistakes. Still, the best option is to learn from others' success. For example, you can invest from the best traders trading with Concord Bay, simultaneously learning from them.
This is what TraderGlobal's official website tells us about copying trades:
http://traderglobal.com/copying_transactions/convenience
Flexible settings for copy Tools
You can configure exactly which tools should be copied. For example, you can choose a trader who has an excellent, results for USD/JPY and the copy of the transaction for this instrument.
Expanded possibilities
Choose from a variety of options on copying the one that is right for you. You can independently set the standard lot for each transaction to be copied, you can also specify the maximum percentage of margin. Or you can follow the trader by copying his trades in the same volumes.
