In the forex community, everybody knows about copy trades. So, I am not giving any explanation about copy trades. If you like to know about how to do copy trades, you can visit this link to read the details.
https://www.mql5.com/en/articles/523
I am trying to highlight some important points / tips for all traders who is interested about copy trades. Last few months personally I had observed some signals and got some clear idea about this system. Some signal providers are really very serious, professional and sincere. On the other hand few providers are here who is playing games with subscribers fund. I saw some signals, where few traders subscribes and lost big amount. Why this is happening? If you are a subscriber, you should know very well that, you are putting your money to other person's pocket. You have the best love for your money but other person will not take care about it as like you. So, before subscribe, see the background, see the history, see the reviews, try to understand, is that person is reliable or not? Let me come to the main points now. Before subscribe to any signal, see the below suggestions.
- Initial deposit: You must see the initial deposit in the signal providers account. I saw some signal, initial deposit is less than 100$ but subscribers put there 10K+ amount for copy trades. Just think, if the provider lost his capital, that is only 100$ but what about you? So, if you plan to deposit for copy trade, please see the signal providers initial deposit status.
- Re-Deposit: This is a very important point. Just think about this, if the signal providers start his trading with initial deposit and run smoothly, why should he increased his deposit amount in the next time? He knows very well, copy trades volume will be automatically calculated for the subscribers. If any subscriber join with him with big investment, that is not a problem for volume calculation, so why should he need re deposit? Here we can think, during trading, he maybe faced unexpected draw down or tried to avoid large draw down or tried to safe his account from margin calls. Different can be happened but as a subscriber we should think this way.
- Another 6 points you should know before subscribe to any signal. I believe, if any traders follow all the points, he will not take a wrong decision. To read the full article with image description, please click here: Copy Trade Safely.
