Copy trading allows investors to copy the trades of experienced and successful Forex investors. Copy trading was initially only available to institutional clients but was later made available to retail investors. Its automated nature can help prevent investors from making emotion-based trading decisions.
TraderPilot clients will use our dedicated platform to examine the histories and details of various trading strategies. You can then choose a trading strategy from the available options based on your investment goals, risk tolerance, investment capital, and desired currencies. For example, if a trader has a minimal risk tolerance, they may choose to copy a strategy that has a low maximum draw-down. When strategy developers execute their trades, these trades are duplicated in your desired Forex trading account, using automated software that operates 24/5.
Because the professional account you’re following determines when a trade gets opened, closed or amended, it removes the stress of making trading decisions yourself. This is particularly helpful for new investors who may initially find the Forex market overwhelming or for investors who are unable to dedicated the time required to trade. Instead of worrying about the market’s day-to-day fluctuations, an investor can simply check the performance of their trading account via their TraderPilot platform.