What is Copy Trading and How It Works
Copy trading is a strategy that allows traders, especially beginners, to automatically mimic the trades of experienced traders. When you engage in copy trading, your account will follow the actions of the trader you are copying, entering, or exiting trades in real-time. This approach lets you benefit from the expertise of seasoned traders without needing to manage trades yourself.
Benefits for Beginner Traders
JustMarkets offers a copy trading option where you can choose professional traders whose strategies align with your investment goals. Once you connect with a trader, all their actions will reflect in your account instantly. Here are some of the benefits listed for beginner traders.
- Reduced Decision-Making: New traders don’t have to make all the trading decisions on their own, which can be overwhelming.
- Less Technical Knowledge Required: You won’t need to dive deep into technical analysis or extensive market research.
- Learning Opportunity: Beginners can learn from the strategies of experienced traders while they trade.
- Time-Saving: Copy trading is fully automated, meaning you don’t need to spend time monitoring charts or news updates.
- Lower Risk: By choosing successful traders to follow, you can avoid common beginner mistakes and learn from their practices.
Step-by-Step Guide to JustMarkets Copy Trading
- Sign Up and Open an Account: Register on the JustMarkets platform and log in to your account.
- Access the Copy Trading Platform: Navigate to your personal area and find the copy trading tab to explore available traders.
- Choose a Trader to Follow: Review trader profiles, including their past performance, risk levels, and trading styles, to find a suitable match for your goals.
- Set Your Investment Amount: Decide how much of your capital you want to allocate for copying the selected trader, considering your risk tolerance.
- Start Copying Trades: Once you set your investment, your account will automatically mimic the trader’s actions, with profits distributed based on your capital size.
- Monitor and Adjust: You can track the performance of the trades you copied in real-time. If the results aren’t satisfactory, you can stop copying or switch to another trader.
Conclusion
The JustMarkets copy trading service is an excellent opportunity for first-time forex traders to leverage the expertise of others. It offers a low-risk, automated, and user-friendly approach, making it ideal for beginners. By utilizing this feature, you can improve your trading skills and knowledge while benefiting from the guidance of experienced traders.