It takes a lot of time If you do not have the time or the will to act, there are other ways to participate and benefit from the foreign exchange markets. One of them is the copy business. These systems are useful for newcomers to the trade or for those who do not want to spend their time looking for economic and financial information.
Copy the trade
The copy operation allows you to use the exchange of more experienced operators.
They can, so to speak, Forex market session wet their feet and understand the terminology and risks involved without having to make entrepreneurial decisions.
London Market session
The copy model has proved so popular that most brokers offer it in one way or another. If you think about this route, several intermediaries have copy services for the transactions. The eToro service is one, but there are many more to choose from.
The second way to make a profit, if you do not want to change, is to use a forex signal. Forex signals are buy / sell instructions that are generated by a human operator or more commonly by software nowadays. They are then sent to customers or receive subscribers. These buy / sell orders are replicated to the customer account.
It is important to know the risks in order to make an informed decision. An alternative for beginners is a platform like ZuluTrade. This site evaluates and ranks a number of monetary signals, in part because of their large community of users.
After registration, you can connect your agent and accept commercial signals from any number of different providers.
The good news is that with ZuluTrade, you can customize the trading and risk settings for each signal. It also has a lock and rotate feature that automatically clears your portfolio’s performance signals before they accumulate harmful losses and clears your account (learn more).
The third managed trading system is a so-called consultant. These are automated programs that work in trading platforms. While the signals are received outside an external provider, an “Expert Advisor” is software that runs locally on its own trading platform.
The software generates entry and exit points where it performs its operations. The degree of automation and configuration of the advisor is usually fully customizable. Expert advisors are halfway between fully automated signals and proprietary trading.
Warning: There is a huge market for forex trading software. Unfortunately, much of it is useless. Requests for reimbursement and historical performance data must be carefully reviewed and analyzed, as well as the secondary risk and leverage used by the program.