The old adage “Work smarter, not harder” applies to many areas and activities, but when applied to Forex trading, it can mean at least two things: 1. Finding a strategy/signal that allows you to generate passive income starting with a small amount of capital – you guessed it, we’re talking about leveraged trading the mechanisms of which we explained in our previous article – and 2. Going hands-off with social or copy trading. Both are equally good choices and likely to bear fruit if you know how to use them correctly. Let’s break down the advantages of copy trading, a tool you can also leverage with TibiGlobe.
Forex trading enjoys great popularity thanks to the flexibility it gives traders to generate both active and passive income streams by combining various methods and trading strategies. If you are an active trader and love the adrenaline of trend following or a scalper, who opens and closes trades one after another, taking advantage of the slightest price movements, you can also benefit from social trading with TibiGlobe.
Becoming a Signal Provider
Traders can become Signal Providers on TibiGlobe by joining the platform, connecting their accounts, and sharing their trading strategies with the community. Their performance, stability, and conduct are evaluated, earning them ratings that help investors assess their reliability. Based on these ratings and trading strategies, investors can choose which traders to follow, replicating their trades for potential gains.
Benefits for Followers (Copy-traders)
Social trading heralded a new era in online trading. Long gone are the days when only the financially savvy would have access to the tools needed to analyse the markets and manage risk. And even so, trading would not be possible without dedicated long hours to research and trend analysis. Thanks to social trading, everyone can trade without spending extensive time in front of a computer and studying trends. Suddenly, being a copycat became a good thing! Below are some of the benefits of social trading with TibiGlobe:
Trade Automation
By automatically copying expert traders’ trades or entire strategies, you implicitly gain access to their portfolio diversification methods and risk management strategies. This opens the door to learning how to trade by doing it. Not only does this allow traders with less understanding of the market mechanisms to reap the benefits of trading by piggybacking the expertise of experts.
Diversification
At the same time, copy-traders gain access to a diverse range of strategies and ready-made portfolios offering exposure to multiple asset classes, from major, minor, and exotic Forex pairs to metals, indices and cryptocurrencies. This way, risk exposure is spread or diversified across the various assets and markets featured in the respective portfolios.
Risk Management
Tools such as Start and Stop Copying (or Follow/Unfollow) are widespread with social trading. Moreover, features such as “Risk Rating”, overtly displayed on each Signal Provider’s profile also help copy-traders make informed decisions about whether to copy their trades or not.
Similarly, copy-traders can decide on how much of their capital they wish to allocate/invest in a particular signal. Equally, they may choose to follow the profile of one or more Signal Providers before deciding to copy their trades/strategies/signals.
Other indicators such as Return, Weekly Drawdown, and Number of Followers also provide copy-traders/Followers with deeper data insights offering them a clear picture of the performance of each Signal Provider before hitting ‘Copy’.
Tap into the Wisdom of Signal Providers
Social trading is essentially a community-led undertaking. Followers can connect directly with Signal Providers and other copy-traders like you via the Feed. This is where copy-traders find actionable and engaging information about a specific Signal Provider and/or signal, and Signal Providers share their wisdom with Followers in real time.
Why don’t you try it out and see for yourself?! Sign up and get started with TibiGlobe social trading. By the way, if you come across a Signal you’d like to study, add it to your Watch list. It’s as easy as a mouse click.
Risk Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prices can fluctuate rapidly, and past performance is not indicative of future results. Please refer to the full risk disclaimer on our website.
The information provided does not constitute financial advice and should not be relied upon as such. You should seek independent advice before making any investment decision.
