I believe Copy trading is a much smarter alternative than trading on your own. Here are some of the benefits and why I think it’s a solid investing choice that you should look into:
It’s a great way to learn about trading
Trading has a big learning curve. Reading about different trading strategies is a bit dull. With CopyTrading you can learn about trading at same time as actually trading. This is because you’re letting a more experienced trader trade for you.
The best Traders on CopyTrading platforms like eToro share why they are making certain trades. They also post updates on the market conditions. And even if they lose a trade, they’ll post about what happened. This is all invaluable information that will help you become a better trader.
I believe that watching a real trader in action is one of the best ways to learn.
Copy Trading can provide passive income with very little work. I like to spend quite a bit of time researching the best traders and trying out different strategies. But I believe that anyone can start copy trading with a limited amount of time. CopyTrading will generate passive income while you sleep – if you copied a number of traders, your account could be making 50+ trades every week.
CopyTrading takes very little work once setup. All you need to do is check into your account every few days to make sure it’s running smoothly. Therefore I believe it is one of the true ways generate passive income.
Being a trader is a full-time job. Don’t believe the ads on TV that tell you, you can do it with just an hours work. I know – when I was trading instead of copytrading, I spent hours each day pouring over charts, keeping up to date with the news, opening and closing trades, testing scenarios and more. It took more time than a full-time job.
With CopyTrading you can let other people do this hard and time consuming work for you. Even if you’re a trader, you can still add copytrading to your portfolio. This will give you an extra income stream so you can take breaks from trading.
Access Diverse Markets
No one is an expert in all markets and assets. With CopyTrading you can get access to markets you would never have dreamed of investing in. On eToro there are experienced traders you have specialised in very specific markets and have become experts at trading them. CopyTrading gives you the ability to tap into these markets and this knowledge.
Lowers the Risk
I believe that copytrading is much less risky than trying to trade on your own. Most traders who try and trade by themselves end up losing money. I don’t have the exact stats but I do believe that investors who copytrade are less likely lose money. This is especially true if you diversify your portfolio by copytrading multiple people. This way you spread your investment over lots of tiny trades.
You can find out how to Get Started CopyTrading here