Free with Optionbit account!!! Some were put here to lead, others to follow. More and more traders are reverting to copy trading to either give them a trading edge by following other more expert traders or by having other less experienced traders follow their trades and therefore increase their existing earnings.
Binary Options Copy trading is its name suggests is about copying the binary trades of another trader which by itself is nothing special. However, it takes on a different level of importance when you enable a novice trader to emulate the footsteps of an experienced or professional trader.
Now with Copy trading, novice traders can cut down their learning curve tremendously, also reduce a lot of the anxieties and maybe most importantly the cost faced when one is new to financial trading. For traders wanting to improve their binary options trading odds, now they can do so with the award winning AlgoBit trading management system. There are two main types of copy trading platforms.
The first type, social trading, require traders to join a binary options social trading network that allow them to interact together. With the second type copy trading, traders subscribe to a trader who acts as a signal provider.
The first form of copy trading mimics the concept of social networking on the internet very closely. Similar to mainstream social networking services like MySpace or Facebook, social copy trading services also allow their users to observe the actions of other users in a very transparent manner.
In addition, users can also mingle interactively like posting comments and getting feedbacks on the public forum.
With the immerse success which eToro had enjoyed during the last few years, many brokers are now also incorporating this form of trading into their trading platforms. Following a natural progression in development, the concept of social copy trading started to evolve to become more sophisticated in the form of signal trading or mirror trading as it is sometimes called. With signal trading, the more experienced traders can choose to become signal providers. This way both parties get to benefit.
Although signal trading is a huge step forward in binary copy trading, it is still relatively backward when compared to what traders in the forex industry are used to. For example, upon receiving the signals, traders still have to manually execute their trades. The main problem with manual execution is the time lag that occurs between signal receipt and trade execution. In a fast moving trading environment, this can easily mean the difference between making a profit or loss.
To overcome this hurdle, some software developers have came up with the idea of automated signal trading. The system works pretty much like the way how copy trading with social trading works. Behind all that auto trading process is a real trader.
Once the trader is ready to execute a trade, the system does it for him together with all his system users. Now, if a trader wants to automate his trading, all he has to do to is to subscribe to this kind of service. Social trading has changed the way people have trade in the financial markets. It works because it relies on the collaborative efforts of many as opposed to one individual.
It uses the massive surge of information available on the internet and channel the information to those who are willing to listen. BinaryOptionStrategy does not accept any liability for loss or damage as a result of reliance on the information contained within this website; this includes educational material, price quotes, signals data, trade ideas, and analysis. Please be aware of the risks associated with trading the financial markets; never invest more money than you can risk losing.
The risks involved in trading binary options are high and may not be suitable for all investors Binary Option Strategy doesn't retain responsibility for any trading losses you might face as a result of using the data hosted on this site. The data and quotes contained in this website are not provided by exchanges but rather by market makers. So prices may be different from exchange prices and may not be accurate to real time trading prices. They are supplied as a guide to trading rather than for trading purposes.
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