Getting inspired by colleagues or an expert trader and beginning with trading cryptocurrency sounds incredible. However, it's not that easy; trading without knowledge is equal to shooting in the foot. The forex market fluctuates a lot, and you can lose a lot of money if you don't have prior experience.
This is where copy-trading comes in, enabling a trader to learn and adapt to the trading environment from an experienced trader. Let’s read further.
The word 'copy trading' is elementary in its literal meaning, "copying the trades". Copy-trading is the replication of the trading strategies of expert traders on the trading platform.
Trading can be executed in many ways, but copy trading is most suitable for beginners. Individuals cannot directly jump into trading; they first need to understand the fundamentals of how trading works and the factors that move the market.
Getting started with copy-trading requires signing up to the trading platform and depositing the amount you wish to invest.
However, selecting the best copy trading platform can be challenging at times. Therefore, let us move forward with one of the most beginner-friendly copy trading platform, CapitalXtend.
A provider is a pro trader who shares his trading strategies so that others can reap the benefits. One can register as a Provider by clicking on the "Invest Now" tab under MyCapital. After that, you will redirect to a user portal. Click on "Register as a provider" at the bottom left of the portal. This will further redirect you to the Provider registration page. Enter the details like trading account id, password, and Nickname, and then Click on Register. It will redirect you to Provider's Profile, where you can update your Personal information & general details. This is it! You are ready to use Copy trading as a provider. To mention, Copy trading Providers get benefits when their trade ideas are being used by followers.
A Follower is a trader or investor who copies the trading strategies of pro traders, also known as Providers on CapitalXtend. One can register as a Follower by clicking on the "Invest Now" tab under MyCapital. After that, you will redirect to a user portal. Click on "Register as a follower" at the bottom left of the portal. This will further redirect you to the subscription Registration page, where you can create a new subscription. Enter the details like trading account ID, password & choose a provider that suits your trading style and the type of offer, if provided by him and then Click on "Register". It will redirect you to the My Portfolio page. Here you Click on the Providers name to enter the Provider Profile Page. Here, you can click "Activate" and confirm it again to start CopyTrading. Copy Trading grows your passive income without putting any effort into making strategies.
Copy trading is a useful feature that has gotten much popularity among investors lately. Traders can mirror the actions of other pro traders in the market. This means you can easily replicate the positions opened and managed by someone else.
Here's how copy trading is beneficial for you.
Beginners in the trading market are usually inclined to find a method that works for them swiftly. A simple way to make money trading is by following in the footsteps of other successful traders. Copy-trading allows you to replicate the trades placed by expert traders, and you can start making a good profit immediately.
In copy trading, you do not need to have vast experience or knowledge of the market. Your account automatically copies the exact trading patterns placed by an expert trader. When a provider makes a profit, you also make money.
Frequent losses can make you bankrupt & run away from trading forever, and that is exactly the case with many of the new traders. Those traders who invest a lot in their trading account despite having limited resources can suffer great losses by placing the wrong trades. However, this isn't the case when you are copy trading. You can monitor and copy the activities of pro traders; you are less likely to lose. However, it is recommended that you read the review of a copy trading platform before joining it.
A good option for Investors who are pressed for time
Even though creating a profitable trading method takes time, research, and energy, Copy trading strategy reduces the amount of daily work you dedicate to trading, which means that you can make a profit without spending much time over it.
Observing the Trader Total Return: On studying the return rate, a beginner can easily follow the percentage and vouch for the trader with 75 or higher percent. Although there is no certainty of gaining a profit by copying them, it is likely more assured that they know their dealing.
Checking Return Volatility: The Volatility can tell a lot about a trader and can be considered an actual parameter to determine their overall success. In each market, higher volatility means riskier security.
Return Percentage (30 days): Return Percentage is the ratio of the net return on investment and cost of an investment expressed in percentage. This provides a rough estimate of the probability of success of the trader.
CapitalXtend offers one of the most diverse copy-trading platforms and provides a simple user interface for beginners and pro traders. On accessing the copy-trading tab under MyCapital traders’ room, one can easily make out the top traders' details, benefits & Copy trading system.
The traders who are occupied prefer copy-trading. Factors that proved to be an asset for traders trading at CapitalXtend are:
Getting inspired by colleagues or an expert trader and beginning with trading cryptocurrency sounds incredible. However, it's not that easy trading without knowledge is equal to shooting in the foot. The forex market fluctuates a lot, and you can lose a lot of money if you don't have prior experience.
Trading is a business that provides people with the opportunity to make money by buying and selling digital currencies. It is considered as an asset class, with many trading centers functioning for this space. Copy trading is one of the quickest ways to make money via investing.
CapitalXtend provides all the necessary information to the followers about the expert traders and hence making the platform transparent and empowering traders. Now you have all the reasons to start your trading journey with copy trading at CapitalXtend.
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