Social trading Pocket Option
Contents
The company Pocket Option makes every effort to keep customers satisfied with its services. Binary Options Broker offers its users a variety of effective tools for binary trading, one of which is social trade (copytrading). With this feature, private traders can make even more profitable trades. In this article we will talk about what is copytrading and how do I use this option on the Pocket Option platform?
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Social trading at binary options brokers
Experienced traders understand how the process binary options trading. They know how the financial market works, what features each traded asset has and how to choose effective trading tactics. However, those exchange players who want to earn income without this knowledge and experience are looking for a source of quality signals to make trades. In what follows we will talk about social trading signals and the benefits of using them in practice.
Social trading, also known as copy-trading, allows you to copy trades of successful traders and get a good profit. In fact, it is a specialized system of copying trades of private traders. The use of other people’s skills to achieve trading and investment goals allows to simplify and automate trading, freeing the exchange player from round-the-clock binary trading. In social trading, relationships between participants are based on gratuitousness and mutual assistance. Copytrading brings people together, allows them to use each other’s knowledge and skills. But in order to partially or fully duplicate profitable trades, you must first select the best traders. Thanks to the social trading option, a client of the brokerage company can view the successes of other speculators and join their automatic copying of trades for free.
Simply put, a professional trader makes trades in his or her trading account, and all of the trades he or she performs are copied to subscribers’ accounts. Within the framework of social trading, it is possible to copy the actions of even several experienced exchange players. The system automatically transfers trades performed by the best traders to subscribers’ accounts, i.e. no additional actions are required from experienced participants. A user of a financial site who wants to duplicate trades of a pro, sets the cost of BO himself. For example, if an experienced speculator trades binary options for $200, it does not mean that a newcomer must make the same bets. A subscriber can make similar trades, but at $5-10; you just need to specify this value in the settings.
Social trading involves copying trades of successful speculators. With the help of this function it is possible to make good money in the financial market. No knowledge in fundamental or technical analysis is required from the private trader, neither are there any additional financial investments for the use of this option. Copytrading is a simple technique to trade binary options and it shows very high efficiency. Signals for social trading can clearly not be called a scam. They are used by many exchange traders, most of whom are quite satisfied with their trading results. Social trading is becoming a good auxiliary tool for trading securities. However, experts recommend not to trust social trading signals completely. To become a successful trader, you have to learn self-analysis and undergo full-fledged training.
Social trading offers incredible opportunities for novice traders. With the help of this unique tool, beginners can learn about the prospects of events on the financial market and the direction of quotations. Thanks to copytrading a beginner can make profit from trading binary options from the very first day. Social trading is good because it helps beginners to make deals while they have not yet mastered the subtleties of trading signals, technical analysis and indicators. Watching their experienced peers helps them navigate the BOP market and make trades, duplicating the orders of the best traders on the broker’s platform. That’s how pros make a name for themselves on the financial market, and beginners learn by their example to earn by means of binary trading.
Let’s highlight 3 main advantages of social trading:
- Effectiveness
Copytrading is based on the experience of professional speculators. This makes it more profitable than other tools for making money on binary options. Here, of course, no one is immune from mistakes either – after all, even pros can sometimes make a mistake and make a deal in the wrong direction. But on the whole, social trading suits beginners better than any other method. indicators, technical analysis, etc.
- Accessibility
In order to use the Copy-trading option, you just need to register on the broker’s website and deposit your account (each broker has its own minimum initial deposit amount).
- Simplicity
It is possible to make trades without having any knowledge in the field of binary trading. That is, beginners can start trading binary options right away.
Social trading Pocket Option
On the platform of the broker Pocket Option copy trading services can only be used by registered users. The social trading option is not available on a demo account. But it is enough to make a real deposit of $10 or more for this function to open. After that all you will have to do is join the option and start trading binary options. To feel the positive effect, a beginner is recommended to make an initial deposit of $50-100. Otherwise, you can simply “lose” the deposit without realizing anything. PocketOption’s social trading works according to this scheme:
- A pro makes a bet on a financial asset. This can be currency pairs, stocks, cryptocurrencies or commodities.
- Other traders completely copy the parameters of the transaction of this experienced speculator.
By taking advantage of social trading, you can try out other people’s strategies and increase the number of profitable trades. You can also use this option on the Pocket Option platform to find out:
- activity and the total number of transactions;
- % profitable bets;
- min and max bet amount;
- number of subscribers;
- trade turnover and actual profit.
Using this information, you can choose from whom to duplicate trades. Thanks to the automatic copying of trades, newbies get tips on bets. And users whose trades are often copied can earn extra money and make a name for themselves on the binary options market.
It is easy to activate this function. First you need to register on the broker’s site pocketoption.com, make an initial deposit of $10 or more and log in to the platform. Then click on the “Social Trading” icon on the right side of the screen:
The current rates of private traders from the watch list will start to be reflected on the chart. Next, you need to select a trader to copy trading signals and start trading with the option of social trading:
After completing registration and making a deposit, you will be able to copy trades. You can find this function in the right panel on the trading platform. Now choose a trader from the list to copy trades. Look at the ones that are on the Poket Options platform at the moment.
According to the specified parameters you will be able to evaluate the effectiveness of a particular trader. We recommend to pay attention to those users, who have at least 60% profitable trades. As soon as you choose a mentor, click on the green “Copy Bets” button. And further in the opened “window” you can engage in detailed adjustment of copying.
Proportional copying is set as a percentage. 100% means that the sum of beginner’s bets will be equal to the one specified by the pro – trader providing signals. This parameter can be changed at your discretion so as to receive information from traders with other bets as well.
How to choose a trader to copy signals?
In the current list on the PocketOption broker’s website, choose a trader, from whom you want to copy trading signals for making trades. For this purpose, evaluate the skill of a potential mentor. Evaluate his current ratings, personal profile, the main parameters of his work and be sure to observe his actions on the platform for some time.
You must understand that if a trader’s trades are 50/50, it is no longer trading, but a pure casino. Look only at those stock traders whose number of profitable transactions exceeds 60%. The ideal is those who close in profit from 75% orders. When choosing a trader to copy signals, take into account every detail – from his/her trading experience to the number of subscribers. If everything suits you, click on the green “Copy” button and make detailed settings in a new “window”.
Conclusion
Social trading at Pocket Option (join social trading) is an effective tool that opens up new opportunities for novice traders. This system should be used as an auxiliary and training function, and not just thoughtlessly copying other people’s trades. Only with this approach, copy trading will bring significant benefit and benefit.
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