In the world of forex trading, there are two technologies that promise to make your trading experience smoother, easier, and more profitable: Copy Trading and Expert Advisors (EA). But which one is right for you? How do you know which to choose from? And which one will benefit you long term? We’re looking at up to 10 years worth of investment.
Let’s take a closer look at each of these technologies, to give us a clearer understanding of both and this will help us see which one is your perfect match.
First, let’s start with “Copy Trading: The Blind Date”
Copy trading is like going on a blind date, we say so because you don’t know the person you’re copying, but you hope that they will make all the right moves and take you to the promised land of profits.
Well, that can’t always be the case especially if you just met them online through a dating site. It would be better if someone you knew to set up the blind date; this way, the risks of disaster striking are greatly reduced. This is why we are telling you all these so you can be more careful when choosing your “date”, it would be safer for you to let us point you in the right direction, so the chances of you getting burned are greatly reduced.
The truth is copy trading involves linking your trading account to another trader’s account and having their trades automatically duplicated in your account. It’s a passive way of trading that doesn’t require any analysis or decision-making on your part.
In other words, we are telling you that you can make money in forex with “Zero-trading”. Click here to join our FREE upcoming online seminar where we would explain in detail just how well you can make this work to your advantage.
The Pros: Copy trading is a great option if you’re new to trading and you want to be making money while learning to trade but you don’t want to blow up your account or if you don’t have the time or expertise to analyze the market yourself. It’s a way to leverage the skills and expertise of other traders to generate profits without you having to put in the effort in placing a single trade.
The Cons: Copy trading is a blind date, which means that you’re putting your trust in someone else to make the right moves. It can be risky if you “blindly” copy a trader without doing your own research and analysis. Additionally, you’re limited to the trading strategies and decisions of the trader you’re copying, which can limit your ability to learn and develop your own trading skills when you only rely on the trader only.
This is why we have gone ahead to do the research for you and have found the right traders that would be a good fit for you; make you money by making the right trading decisions, and in turn, make the right moves on your behalf.
Let’s take a look at the other one which is “Expert Advisors: The Speed Dating Event”
Expert Advisors (EAs) are like speed dating events we say so because you get to meet a lot of different EAs, each with their own unique personality and trading style. EAs are automated trading systems that use a set of predetermined rules to make trading decisions, these rules can either be set by you or by a professional (just to let you know, we can do this for you as well).
They analyze the market and execute trades based on their programming, without requiring any input or decision-making on your part. However do not confuse them for automated trading bots, that would be covered in another blog post from us. Or if you would prefer to learn more about this you can click here.
The Pros: EAs can be customized to meet your specific trading needs and can help you automate your trading and save time. They can also be backtested to see how they would have performed in the past, which can help you make informed decisions about which EAs to use.
The Cons: EAs are only as good as their programming, which means that they can be limited by the quality of the rules they follow, which means for you to get good results you need either a good professional trader to give you their EA or you obtain years of experience in trading and set up your own. Either way, you can not as a beginner trader use an EA without a professional assisting you. Additionally, EAs can be expensive to develop and maintain, which can be a barrier to entry for a lot of traders.
So which One Is Your Perfect Match? Can you tell already? Or do you need more information to be able to decide? Well, if you can’t decide yet and need more information please click here.
If you’re looking for a passive way to trade and want to leverage the expertise of other traders, copy trading might be your perfect match. However, if you’re looking for a way to customize trading and automate your trades, EAs might be a better fit. Ultimately, it’s up to you to decide which technology best meets your needs and trading goals.
In the world of forex trading, copy trading and Expert Advisors promise to make your trading experience smoother, easier, and more profitable. And don’t forget that “Copy trading” is like a blind date, while “Expert Advisors” are like speed dating events.
Both have their pros and cons, and it’s up to you to decide which one is “your perfect match”. Whatever you choose, make sure to do your research and develop a sound trading strategy to ensure success in the forex market or you can just contact us by clicking here for us to help you with that and do the heavy lifting for you.