Option Copy Trading
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Option Copy Trading
Copy trading is replicating another trader’s positions using social platforms, automated tools and signals Copy trading is a type of trading where you copy the trades performed by another, more experienced trader. It can be manual, semi-automatic or fully automatic. Copy trading allows individuals to automatically copy another trader’s positions when they are opened or closed. Experienced traders communicate their positions using signals via social networks or forums, where followers can copy the methods. Traders can copy positions in many markets, including forex, stocks and CFDs. You can also copy trades on popular crypto coins, including Bitcoin (BTC) or major precious metals such as Gold or Platinum. Copy trading can be a good way to earn a profit and make you rich, but it is important to understand that you will not become rich overnight. If you try to become rich too fast, you will have to copy very high-risk trades, and you will likely end up losing your money. If you use copy trading to build wealth slowly, you will have a fair chance of becoming a millionaire in due time.
Pros and Cons
Authorised practice - copy trading is generally recognised by key regulatory frameworks, including CySEC, ESMA, MiFID and the FCA. Choosing a licensed and reputable broker will ensure your funds are safe and not exposed to scams
Portfolio diversification - traders can gain exposure to opportunities or trends that they wouldn’t usually consider without the help of another trader’s expertise.
Risk - the risks can be high even if you choose an experienced trader to copy. If a strategy is unsuccessful, the risk will also translate onto a follower’s account and can result in a financial loss.
Control - one of the main disadvantages is the lack of control a trader will have once they begin copying an account; traders are essentially entrusting their portfolio to a stranger.