As you all know, I usually like to write only about some really exciting things on my blog. Today is definitely one of such days as I will be writing about something called social trading that is a brand new approach to the way traders from all across the world can have access to the financial markets. There is this term collective wisdom that describes best what social trading is really all about. Traders from all over the world benefit from each other’s knowledge and skills to create an online financial community that is more successful at trading as a group. This new place is called eToro.
If you have ever been an investor, or if you are one right now, you know that one of the best ways to invest on a financial market is to copy a promising and successful investor. This is what many people in the world do. Once they notice somebody promising they are willing to try their strategies to see if their strategy works. This is one of the most obvious ways to benefit from social trading: to copy somebody in the community. And it even gets better. There are certain very useful tools that allow you to copy other traders almost automatically without you doing any actual job. It cannot get easier than that. What is more, you can even dedicate your entire account solely for the purpose of copying others. Many people in the community follow this strategy and are very successful with it so you should be able to to do it as well. This is something that is called a people-based portfolio that you can work on from the moment you enter the platform.
One more think I like about CopyTrader is the control it gives me over my funds. I can paused or resume the copying at any time I want without my account being affected by it in any way.