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Auto trade copier vs. forex bots, which one is more effective? Which one should you choose to make the most of revenues? What do they even imply?
To put it merely, an auto trade copier is a piece of forex trading software that enables you to directly copy the trading position taken by another trader. It’s right there in the name– trade copier. A forex robot, on the other hand, is a trading program that assists you with the technical analyses and repeated elements that include forex trading. It’s also called an FX bot or simply bot’.
Both of these technologies are essential, especially in the modern-day world where 90% of forex trading is done by computer systems and algorithms. In fact, 1 in 3 investors strongly believe that automated trading simplifies the otherwise over-complex traditional forex market approach. Additionally, 1 in 4 traders were seriously thinking about social trading in 2020.
Because of this shift from conventional to tech-based forex trading, social trading platforms grew by 96% to simply under $50 billion ($ 47bn to be exact) in 2020. That number is forecasted to hit $83 billion in 2025 (growth of 48% each year). Long story short, auto trade copiers and forex robots are here to remain, and for good reason.
Are they necessary?
The forex market is by far the largest and most liquid monetary market on earth. Let’s look at a few numbers that highlight simply how big the forex market is:
The worldwide average daily sell the FX market is well over $6.6 trillion. For contrast, NASDAQ– which is the most significant stock market on the planet– has a trading volume of around $2.2 billion while the NYSE– the second biggest– is valued at $2.09 billion.
Despite its huge size, the global foreign exchange market is neither becoming slow nor decreasing. Some forecasts forecast that it will grow by approximately 6% per year to $10.2 trillion by 2026.
Over 170 currencies are traded on the FX market.
Approximately 10 million individuals trade forex worldwide.
Roughly 41% of forex traders typical anywhere from 9 to 20 trades monthly.
What the numbers show is that the forex market is big, challenging, complicated, and fierce competitive. Unless you’re a professional, you definitely can’t crunch the numbers to come up with a winning formula.
Besides, the forex market is extremely unpredictable. Sure, you can spend weeks and months coming up with a decent trading position. But because of the many, unexpected market relocations, your position can quickly and rapidly turn from a winning to a losing one.
The service? Choose a forex bot to crunch the numbers for you. Because case, your only job will be determining when to go into or exit a position. In fact, some FX bots will go a step further and automatically set entry and exit points for you.
Even better, you can choose an auto trade copier to mirror winning positions of skilled traders. Think of it as forex trading for dummies, but with very little risk because novices use the strategies developed by expert and knowledgeable traders. With that said …
What’s an Auto Trade Copier and How Does It Work?
As the name recommends, an auto trade copier allows you to copy the trading positions taken by another trader. Simply put, it mirrors trading positions for you and puts you in a position where you can earn a profit from somebody else’s ability. You just require to decide the amount you want to invest and after that copy whatever that the other trader is doing.
When that trader makes a trade, your account will make a similar trade in real-time. If they earn a profit, so do you. The downside is that if they make a loss, you’ll also make a loss.
And that’s where things end up being a bit more interesting. When picking a trader to copy, you’ll wish to opt for a skilled financier who makes a profit more times than he/she makes a loss. That way you’ll decrease the opportunities of going into a losing position.
Even better, you can spread the danger by dividing your total quantity and assigning each part to a various strategy supplier. Let’s state you have $1000 to invest. You can choose 4 experienced traders and use an auto trade copier to copy their strategies.
If one or two make a loss from their methods, then it suggests that the other three or more will have earned a profit. It likewise suggests that you will have acquired a winning position from those three or 2 who earned a profit. That’s better than allocating the full amount to one method provider and after that losing it all.
There are two points here. Firstly, your option of strategy provider is very crucial. Second of all, it pays to spread out danger. Uncertain how to pick method providers or spread your threat? Choose the allmarketstrading social copy trading platform to automatically select the very best forex traders on the marketplace.
This software application thoroughly analyzes traders and selects those whose methods win more than lose. It then occupies a list from which you can follow the best-performing traders and mirror their gaining techniques.
How does a trade copier work?
The very best auto trade copiers provide a forex trading platform (MT4 or MT5) directly to your computer system, mobile or tablet. Oftentimes they’ll offer you 3 copy trading options:
Manual– you decide which traders to follow and whose strategies to copy. This is known as social trading.
Semi-automated– allows you to see all the positions of the trader you have actually selected. You can then choose which positions to instantly follow and which ones to copy and trade yourself.
Automated– you choose the traders to follow alongside methods that finest match your danger profile. After that, subsequent positions and trading are instantly duplicated.
Keep in mind that although auto trade copiers are comparable in many ways, they likewise vary in other elements. The allmarketstrading copier, for instance, lets you personally decide your investment quantity. It also offers you the liberty to get in and leave a position at will.
That’s what you desire in an auto trade copier. Not one that forces you to invest (and hence threat) more cash than you want. And you absolutely have no organization using a forex trading platform that will stick you with a losing strategy or lock you out of a winning technique– i.e., one that does not enable you to enter or leave a position.