EToro's CopyTrader Has Arrived! Prepare For The New Way To Trade
Assume you're one of the thousands of folks who would like to give currency and commodities trading a try but don't have enough time to educate yourself about all of the different trading techniques, to follow economic data releases or to evaluate market movements each and every day. Up until now, you would have had to simply give up your dreams of financial glory, however with eToro's revolutionary new etoro copytrade feature, that is no longer the situation!
CopyTrader is a new function of eToro's social trading network. The master of etoro copy trader is that it lets you take advantage of the knowledge and expertise of other traders on a consistent basis. All you need to do is pick which profitable trader you want to follow by looking at the rankings and checking out the traders' rate of success, trading style, number of followers, etc. Once you find the trader or traders for you, it just takes a mouse click of the button and his or her trades will become your tradings.
It may sound simple, but this is a genuine innovation in the world of foreign currency and commodities trading, a shift from market-based or financial-instrument-based trading to people-based trading. Instead of agonizing over which foreign currency to purchase or sell, the only decision you now have to make is who you wish to trade for you and how much of your account you want to dedicate to replicating each trader you select. The more traders you copy, the more diverse your risk portfolio.
Of course, you still maintain full control over your tradings. All the parameters are completely translucent, starting with the spread and ending with the percentage of the account balance that is invested in each trade. Don't like the way a trade is going, or would like to capitulate on the profit right away? There's no need to wait for your trader to make a move - you can close a trade or edit the stops whenever you wish. And in case a trader's strategy is not working for you in general, it takes merely one click to detach yourself from him or her.
The ultimate goal, as you could probably imagine, is to assemble a dream team of varied traders who you can copy indefinitely and then just watch your profits build up. Unlike forex robots or paid traders, the traders you copy through CopyTrader don't have any agenda other than to make profits for themselves, so you never have to worry about them mismanaging your funds. Moreover, for the sake of promoting responsible trading, CopyTrader only lets you set aside a maximum of 20% of your account for copying any one trader, to ensure the diversity of your trading profile.
EToro also plans to launch a Guru reward program in the near future, to compensate traders with a large following for all the benefits they bring to the eToro trading community.
CopyTrader is already available on eToro social trading network. Click here to read full etoro copytrade review !
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