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Copying trades
New on Forex I have heared that there is an possibility to copy trades from professional Traders. Does this really works profitable?
hg2000 wrote:
New on Forex I have heared that there is an possibility to copy trades from professional Traders. Does this really works profitable?
For copy trading you still need to learn about strategies, brokers, money management, and risk management to make good choices:
- Do you see spikes on the balance, equity curves, and there are no apparent drawdowns? The trader is using some kind of martingale and is bound to blow up your account sooner or later.
- Do you see an everlasting rising balance but uneven equity curve? The guy doesn't use stop loss (or moves it constantly), one day he will blow up your account too!
You have to check stuff like that, and also:
- Average profits.
- Win/Loss ratio (less important).
- Max Array (best indicator for a good or bad trader).
- Sharpe Ratio.
- Recovery Rate.
- ROI.
Etc... even if you are not trading by yourself i highly recommend you study as much as you can.
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