Choosing the best traders to copy is one of the biggest challenges in copy trading。This guide will help you solve this problem as soon as possible。

Access to the Forex market is now easier than ever, but profitability is a completely different thing。Many forex traders end up losing money, especially those who know little about trading。The good news is that there is a popular method called copy trading, and even complete beginners can take advantage of the Forex market by simply investing their money in skilled traders and copying their strategies。OctaFX is a broker that comes with features。

The idea is to copy a trade executed by a certain trader so that their win will also become your win and their loss will become your loss。The trades themselves are executed on a percentage-based basis because you only connect a portion of your portfolio to one trader。This can diversify your portfolio and minimize trading risk。This strategy is often referred to as a people-based portfolio, which refers to traders who invest in other traders rather than trading on their own.。

While you don't necessarily have to have the knowledge to profit from copy trading, it does require some basic understanding。Some of the most important things to consider are the copy trading platform and the trader to copy。

OctaFXCopy trading platform

OctaFX is a reputable forex broker founded in 2011。Today, the broker serves more than 10 million trading accounts for clients in more than 150 countries around the world.。The best thing about this broker is that it provides incredible support to its clients。OctaFX offers one of the industry's closest price differentials, a favorable loyalty program and plenty of educational material。

OctaFX also has a copy trading platform that can be found on the Google Play Store。The platform allows traders to copy an unlimited number of strategies at the same time without charging brokers additional commissions。Replicators are free to choose which master trader they want to replicate and earn passive income from profitable trades。Even so, Copiers still have full control over their funding, and they can stop subscribing at any time.。

Choosing the Best Trading Masters

One of the biggest challenges in copy trading is choosing who to copy。It is important to understand that the main trader can trade both for profit and for loss。Therefore, if you choose an unprofitable trader, you will also lose your money in proportion to your investment。

Choosing a good strategic provider for replication can be difficult because there are too many such providers on one platform。In this case, the first thing you need to do is access the trader's profile description。Here you can find all the data you need to identify the next future master trader。

Here are some statistics to consider before choosing a master trader:

Risk level

Each strategy provider has a different level of risk。If you are a newbie, it is not recommended to imitate someone with a high risk because you may lose money quickly。Instead, pick someone with a level of risk you can afford。In addition, check whether the trader uses a stop loss in the trade, and the stop loss distance。Don't imitate others endlessly, as this will increase the risk of your investment。

Return

You'll want to pick someone who shows consistent rather than sporadic results。在包括In most brokers, including OctaFX, the easiest way is to look at historical performance charts。If it is gradually increasing, then that is a good sign。If you find some irregular spikes, then you may want to consider others。Remember, it's better to emulate a man who has made small gains every month of the year than a man who has won big in the first six months but lost big in the next six months。

Trading Performance

Check Trader Past12-month performance, taking into account profit and loss。If their trading time is longer, so you can check their performance under different market conditions。

Number of copiers

Just like social media, traders with a large following can show that they are good at what they do。After all, if they don't show satisfactory results, people won't want to follow them。This doesn't actually necessarily reflect the qualities of the trader, but it can be a useful factor to consider。In addition to this, you can also use this opportunity to connect with other traders。Ask them to useMaster Trader's experience and perhaps exchange ideas to improve each other's portfolios。

Order History

In addition to the number of followers, it is also important to check a trader's order history。The more transactions that are copied, the better.。

Reliability and Confidence

Finally, you need to ensure that traders are reliable。Choose a person who trades with a real trading account and risks their own funds。These traders are generally less reckless in trading than other traders。It also shows that they are confident enough to take risks for themselves。

How inOctaFXCopy Transaction

In order toOctaFX starts copying transactions, you need to follow several steps, namely:

Create an account and make your first deposit。Just click"Register" and create a copy trading account following the instructions given。

Make a deposit using any payment method you prefer。If yourOctaFX already has funds in your trading account and you can transfer them through the broker's internal transfer service。

Select Traders to Copy。Browse the platform and master trader you want to copy and click"Copy"。The funds will be deducted from your wallet and you will immediately copy their positions according to the deposit percentage you choose。

Monitor your transactions。You can view detailed transaction statistics and transactions in the copier area。You can also stop replication at any given time, but make sure that all open positions are closed。

You can withdraw profits directly from your wallet.。Termination of the subscription will transfer your investment funds back to your account。However, if you end the subscription at a loss, you will not be able to recover the initial funds。