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Social trading / Copy trading

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The passive investment method is that investor connects to a certain strategy provider in a specialized service and trades of the given provider will be automatically copied into his/her (the investor’s) account. The investor may set up a trade size at own discretion according to personal risk tolerance. All the rest parameters of the trade (Bid or Ask prices, stop-loss and take-profit levels) will be automatically copied into personal account in a real-time mode.

-Does passive income in forex really work ?

When it comes to auto-trading in social trading, there are 2 types of

Mirror Trading

It refers to a relatively sophisticated system & trading style where you automatically copy trades executed by a variety of auto-trading and signal services, which generally suits large volume traders.

Copy Trading

It is similar to mirror trading and enables you to directly copy a trade or a trader you want to follow, which is virtually an alternative to mirror trading and a better suited to small scale / novice traders.

Generally speaking, the copy trading is said to be a simpler and more flexible way to trade socially.
In copy trading you can select individual traders to copy, whether by copying their individual trades or by copying their entire trading strategy. Therefore, you can assign a percentage of your account balance to follow a specific trader or several traders concurrently. As long as you are copying a trader, every trade which they open will be replicated by a copy trade in your account. Again, you don’t need to participate in any Forex trading courses / study complicated fores strategies, but just need to choose the top trader in the social trading communities.
The advantage of the copy trading in comparison to the Managed Account / PAMM that we discuss in the next section is a cost. While you need to pay certain % (usually against the net profit) to the trader who manage your account in managed account, you basically don’t pay anything to the trader in the copy trading because they are compensated by the social trading companies that provide the platform. Visit GEM Social & Copy Trading.

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