I’ve been experimenting with the CopyTrading platform eToro. It let’s you automatically copy the trades made by more experienced traders. Here are some of the things I’ve learnt while using the platform:
What is CopyTrading
CopyTrading is where your trading account automatically copies the trades made by more experienced traders. Trading is hard. So why not let someone who does it for a living do it for you.
When you copytrade, whenever the copied trader makes a trade, your account will make the same trade. If the trader buys some Apple Stock, your account will too.
With eToro, you can browse through the profiles of thousands of traders. See how well they have performed in the past and how profitable they have been. Here are some of the things to look out for when copying traders: