12/28/2023 0 Comments Copyq legitCopy trading is generally safe, but if you pick the wrong trader who loses money, you’ll be in the red too. You also need to make sure you choose the right trader to copy. That’s why it is essential to choose a copy trading platform that executes copied trades in real-time, with virtually no delay. It may be too late to capitalize on those gains already. Just because it was the right move to sell a currency pair a minute or even a few seconds ago, that does not mean it is the right move now. Volatility is common in the forex and crypto markets. If you want to follow in your trader’s footsteps, you need to copy their trades in real-time.įor example, if they sell a currency pair, you have to sell that currency pair simultaneously (or at least, as soon as possible, with little delay). Trades Must Happen in Real-TimeĪ common problem with copy trading, especially for day trading (and even more so for forex and crypto trading), is that trades aren’t always executed immediately. Here are the most common safety concerns (risks) when it comes to copy trading and how to mitigate them. However, as with all investing and trading, risks exist. 5 Must Know Copy Trading Risks And Ways To Address ThemĬopy trading is generally safe. You need to pick the right trader (more on that later), and even then, the stock market isn’t 100% predictable. While it’s true that beginners can make real money with copy trading because the risk of bad trades is incredibly low, it does require some strategy. All it takes is about $200 on day one and, without any experience, you can start earning cash. For example, with a trading platform like eToro, you can search for traders with the most success to choose the right one. However, copy trading is only as legit as the platform you use.
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