How to Choose the Right Trader to Copy on LiteFinance
How to Choose the Right Trader to Copy on LiteFinance
So, you’ve joined the LiteFinance Copy Trading platform or the WhatsApp community — great move! But here’s the million-naira question: "How do I choose the right trader to copy?"
Picking the right trader is the difference between consistent profits and unnecessary losses. Don’t just follow anyone. Here's exactly what to look out for:
1. Check Their Trading History
Look at how long the trader has been active. Aim for traders with at least 6 months of consistent performance. One month of good luck doesn’t mean skill — consistency is king.
📌 Pro Tip: Focus on traders who show slow, steady growth instead of those with wild profits and sharp losses.
2. Review Their Profit Percentage
It’s tempting to go for the trader with the highest returns — but high returns often come with high risk. Look for traders making between 5% to 20% monthly profit. That’s sustainable and realistic.
🚫 Avoid traders promising 100%+ in a week. That’s gambling, not strategy.
3. Understand Their Risk Score
LiteFinance rates traders based on their risk profile. Stick with traders who have a low to moderate risk rating (1–5 on the scale). These traders protect your capital better during market volatility.
âš ï¸Â High-risk traders might win big, but they also lose big.
4. Look at Their Drawdown
Drawdown tells you how much the trader has lost from their highest point. A low drawdown (under 30%) means the trader manages risk well.
A trader with 70% drawdown might blow your account before it recovers.
5. Check Their Number of Followers
A good number of followers is a sign of trust, but don’t just follow the crowd. Use it as one of the supporting indicators — not the only one.
6. Study Their Trading Style
Is the trader a scalper (short-term trades), a day trader, or a swing trader (longer-term)? Your capital size and patience level should match their style.
🧠For smaller capital, swing or day traders are often safer than scalpers.
7. Start Small and Monitor
Once you’ve selected a trader, start with a small amount and observe. Set your stop loss (LiteFinance allows this), and track their performance weekly. You can increase capital gradually once you're confident.
Final Words:
Choosing the right trader is not about hype — it’s about data, discipline, and patience. Take your time, ask questions in the WhatsApp group, and never put all your capital in one trader.
👉 Diversify. Monitor. Learn. Grow.
Want help reviewing a trader’s profile before you copy them? https://youtu.be/vIxhLGRtjJk?si=QS-OItJMKeN7PbL-
