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Copy Trades or Trade Copy services ?

Discussion in 'General Forex Talk' started by Agent86, Oct 10, 2018.

  1. Agent86

    Agent86 Sergeant

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    OK,

    Wondering why there is no reviews on copy trade services and/or copy trade providers ?

    There are EA's, managed and signal reviews but what about actual copy trade reviews ?

    It's hard to tell if a copy provider is really working for people because most of the sites that provide copy services do not have a review section only a performance section and analysis of the performance.

    The services in some cases like simple trade claim to require 6 months confirmed live trading track record and so that makes it seem like every copy provider in their market place appears to be a legit confirmed track record.

    I guess I won't know without trying any particular copy service or copy provider within those services for a month or so.

    It seems like there should be a review somewhere about each copy trade provider. FPA would be a great place for this would it not ?

    Please advise
    Thanks
     
  2. CryptoatForex

    CryptoatForex Recruit

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    It is a good idea.
    99% are scams but a thread reviewing these etc would be very useful.
     
  3. Pharaoh

    Pharaoh Colonel

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    There are some mixed in among signals and I think some others fell into software. This is one problem AsstMod has - no matter how he defines the categories, someone makes up some sort of mutant that blurs the lines.

    If you know of any that are not already listed, just use the "Add New Site" on the main review page.
     
  4. Liquidreality

    Liquidreality Recruit

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    I think a thread on this would be great. I find that most are represented incorrectly, ie the formula's used to show their profits are very biased towards the signal provider and not based on actual performance of -money in verse money out/and or balance, difference of the two, in percentage = profit.
     
  5. Notati

    Notati Recruit

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    The idea of social trading is simple: use technology to copy the real-time forex trades (forex signals) of other live investors (forex trading system providers) you want to follow, so that every time they trade you are able to replicate (copy) their trades in your own account.
     
  6. TrapLok

    TrapLok Recruit

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    The concept is very good for social trading. One thing that need to aware , is don’t put your money in one basket. Check information , stas , drawdown, maximum drawdown and trust brokers. Do not lose without reason.
     
  7. iMusingKiMi

    iMusingKiMi Sergeant

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    I think even copying trading need to do some analytic job and don't just copy it blindly. You still need money management on copy trading.
     
  8. iMusingKiMi

    iMusingKiMi Sergeant

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    As per usual, you will still need some homework and money management even for just as simple as copy trading.
     
  9. Quinuiacl12

    Quinuiacl12 Recruit

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    Social trading might be a good option for beginners while practicing their trading skills. However, I find it important first to test it on demo account or at least to make sort of diversification, as TrapLok nicely said, don’t put all your funds in one basket.
     
  10. iMusingKiMi

    iMusingKiMi Sergeant

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    If after analyzing of past performance and historical data, I don't see a point to go for demo anymore. Probably you can start it small to test for its reliability.
     

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