| Updated: November 8, 2024Introduction to Social & Copy Trading
Here you will learn
- What is social trading?
- What is copy trading?
- How to select the best platform and traders?
Social trading is a relatively new concept that introduces a bright nuance of usefulness and utility to the already monotonous structure of the social network. Of course, you might argue that social networks have always been useful, and you would be right (to some extent). Social networks can help you increase exposure to your site, spread the message and improve your sites rank, but even though all of these options are at your disposal at all time and certainly present a form of usefulness, they are not as direct in their functionality as social trading is.
What Will You Learn from this Guide?
But what is social trading? The goal of this guide is to introduce the idea of social trading to anyone who is interested in making money by utilizing the knowledge and skills of others. Likewise, we also want to introduce the concept to people who want to share their knowledge and wisdom. Social trading takes social networking to the next level. Its used to share useful information in the financial sector, essentially revolutionizing how the market works by removing the huge gap between the experienced and the novice traders. Moreover, social trading significantly decreases the learning curve of trading and allows more people to join the ranks.
This means that even if youve never traded before, you will still be able to begin without the risk of losing all your initial capital. You will learn faster and you will learn directly from people who know the market and have proven themselves many times over. In case youre wondering, thats not how things used to be in the past. Now, before social trading, if you start trading, you had to spend months, if not years, studying the market, as well as fundamental and technical analysis, and even then there was no guarantee of success. You could end up losing all your investments either way. Today, you still have to learn a lot, but with the help of social trading you can learn faster and trade with a much smaller risk.
How Will We Proceed?
The guide will introduce the core concepts of social and copy trading to your attention. After youre familiar with the basics, well move on to more advanced aspects of trading. We will teach you all you need to know about social and copy trading. We will introduce you to different platforms and help you choose the ones that fit your style the best. Then we will help you pick the traders you want to learn from. You will see how they act and at first will simply imitate them without understanding what is going on, but in time you will learn to recognize the good moves and make your own informed decisions.
The guide will proceed to help you realize that trading is not as easy as it seems and some people would like to make it seem. We will teach you the basics of what you need to know about the market, as well as fundamental and technical analysis. Thus, we will further accelerate your learning process by presenting you with all the basics in a synthesized form. We will also give you a few tips on money management, as well as risk management. Then well teach you how to defeat stress and not let it affect your judgment.
In the next part of the guide we will teach you how to spot different schemes, as well warn you about certain things you need to be careful with. Since there is never a guarantee you will do well to remember that you can always lose. Dont think that just because social trading simplifies things, its going to be a walk in the park. Remember that things are rarely as easy as they seem.
We will finish the guide with some advanced tips and definitions. At this point you will be well on your way to becoming a real trader and you will know everything you to know in order to enter the field. Well answer some of the most frequently asked questions and well give you a few final words of encouragement in order to wrap things up.
Final Words
Get ready to enter a new realm of trading. This journey will not be easy, but it will be worth every invested minute. Do you have what it takes to be a trader? By end of this guide you will be able to give a definitive answer to this deceitfully simple question. Look at this guide as a boot-camp that will prepare you for the immense world of trading. However, just like with normal boot-camps, what you learn here will be a good basis, but you will have to work on improving yourself in the future. You will have to learn from experience, from your mistakes and from the mistakes of others. If you want to become a trader, we will give you a good start but its entirely up to you to get to the destination of this journey. It takes more than theoretical knowledge but we will do everything in our power to help you. Soon enough we will know if you were up to the task. So, do you have what it takes to be a trader? Lets find out!