How can I copy the strategies of expert traders on my account?

[abrahampadilla]

It’s been a while since I got into forex but I am still unable to devise a profitable strategy myself. So, is it possible to try out readymade strategies in a way that I could copy them directly to my account? But I would like to know the strategy in detail and would also like to see how it has performed earlier.

 

[Hoyism]

The best place for you would be a copy trading website. It’s even better if it has social trading features. Talking about myself, I use Zulutrade. It is a platform where you can find many professional traders who either use EAs or trade manually. You can read the description of their strategy and check every bit about their trading history, be it, the pairs they are trading, the trades they have won or lost, the amount invested, the leverage used- everything. So, when you follow any of them your account will be connected to theirs and whenever they will open or close a position on their account, the same trades will execute on yours.

 

[abrahampadilla]

The best place for you would be a copy trading website. It’s even better if it has social trading features. Talking about myself, I use Zulutrade. It is a platform where you can find many professional traders who either use EAs or trade manually. You can read the description of their strategy and check every bit about their trading history, be it, the pairs they are trading, the trades they have won or lost, the amount invested, the leverage used- everything. So, when you follow any of them your account will be connected to theirs and whenever they will open or close a position on their account, the same trades will execute on yours.

Thanks for the suggestion. Does that mean I will lose control on my trading account?

 

[Hoyism]

Thanks for the suggestion. Does that mean I will lose control on my trading account?

Not really! Though your account will be replicating the actions of a copied trader, there are a lot of things that you can manage, like you can decide how much money you want to invest in a particular strategy, where do you want to set your stop/limits, when do you want to close the trade manually, or when do you want to unfollow a trader and stop copying them. So technically, you won’t lose control of your account.

 

[GioMiller]

Not really! Though your account will be replicating the actions of a copied trader, there are a lot of things that you can manage, like you can decide how much money you want to invest in a particular strategy, where do you want to set your stop/limits, when do you want to close the trade manually, or when do you want to unfollow a trader and stop copying them. So technically, you won’t lose control of your account.

Yes exactly! I am also copy trading on Zulutrade, so I would like to add one more pointer to this which I really like. You can also select the funds you wish to invest according to your preferred risk.