Admiral Markets now offer a copy trading feature
Entering the world of online trading can be daunting. This is mostly down to the fact that finding a good investment strategy from the get-go is no small challenge, especially in a world where performance is everything. Learning to make smart investment decisions is a process that requires time, resources and a lot of drive and dedication.
While this process is well-worth the commitment, there are “shortcuts” that can help your performance while you learn the ropes of online trading, one of which is “copy trading” – a service that Admiral Markets has recently launched.
What is copy trading?
Copy trading is quite straightforward to understand. It is basically a way to duplicate the trading positions and strategies of more experienced traders in order to get the same results.
There are many benefits to copy trading:
- Inexperienced traders can learn from the experience and skills of others.
- The trading process is simplified: you do not need to figure out where, when and how to invest.
- Much like demo accounts, it is a good way of “testing” strategies before committing to them long-term.
- It minimises risk and prevents traders from making emotional decisions.
How to use copy trading with Admiral Markets
All users of the Admiral Markets platform have access to its copy trading feature. Therefore, a trading account is all that is needed. Then, simply activate the copy trading feature and select an investor whose investment strategy and performance are most aligned with what you are aiming for. As always, risk and profit levels need to be taken into account beforehand.
Once the copy trading feature is set up, your trading account will duplicate your “model” investor’s positions. The platform offers an additional layer of protection to minimise risk. Users can set their own Stop Loss and Take Profit levels, opt out of a particular trading strategy, or disable the copy trading feature completely. This way, traders remain in control at all times.
A source of income for seasoned investors
If you already have experience and a good track record with online trading, you can register as a trading strategy provider on the Admiral Markets platform. You can offer your strategy for free or charge a subscription fee for each investor who chooses to follow your positions.
The better you perform and the further up the leader board you are, the more subscriptions and the more income you will get!
Copy trading: some considerations
It is important to bear in mind that copy trading does not guarantee absolute success. We would also recommend not delegating the management of your portfolio exclusively to copy trading as it takes the fun and tactics out of online trading, which are as important as a good performance.
Indeed, eliminating the decision-making process can make your trading experience smoother but it will not help you improve your skills. Therefore, make sure you are using copy trading sensibly and for the right reasons.
Last Update on 13/07/21