Have you ever heard of copy trading, but are still confused about what copy trading is? Lately, the word copy trade has indeed become more and more popular in the trading world. Here's the review. However, before discussing copytrade itself, you can fill out the registration at GIC and trade now!

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What is copy trading?

Copy trading is actually not a completely new thing, because it was already known by investors in the 2000s in the financial market as it was for forex trading. A person who implements copy trading is known as a copy trader. Copy trading itself can be interpreted as an attempt to copy or copy the steps of professional and experienced traders, then apply them to your trading activities with the aim of getting as much trading profit as possible.

Copy trading can also be interpreted as a service that allows traders to automatically copy trading positions made by expert traders by linking their accounts.  If you are a copy trader, then you will be required to learn the things that master traders do so that you can apply strategies and indicators efficiently and effectively to earn profits from time to time when opening and closing trading transactions.

One of the biggest challenges for a copy trader is choosing and determining which top traders can make a lot of profits in the future. Therefore, a copy trader must find a professional trader who has high consistency and patience, not only those who can bring in maximum financial profits. To determine which trader you want to copy, you can look at the history/track record of the top trader when trading to dismiss your doubts when making a choice later.

If the professional trader turns out to be facing a decline in profits, a copy trader should not be afraid to apply a cut loss at any time, because after all, a top trader who is copied is just an ordinary human being who can experience poor performance at any time in the trading world. 
 
This means that they can make mistakes in taking strategies so that their efforts actually bring losses rather than expected profits. As good as they are at trading, they will definitely not always make a profit, therefore it is highly recommended to use the stop loss feature on your account to minimize the risk of loss.

If you already know what copy trading is, you can teach it to your friends and invite friends to join the GIC Affiliate program. You can also become an IB to get additional passive income that always goes into your pocket.

How does copy trading work?

In fact, copy trading can vary depending on the broker platform you choose. However, the application has the same basic principles: you choose the best professional top trader in your opinion, and copy all of his trades into your trades. However, before doing copy trading, you must create an account and register with a trusted and best broker company. broker pilihan yang terpercaya dan terbaik.

Copy trading itself is an activity that involves the performance of traders which can be seen from charts and statistics. You just need to look at the strategies they use, their successful experience in trading, the risk management they prescribe, and so on. Therefore, in this copy trade, if the trader you choose at the time of your copy trade, opens a new trading position, then you will also open the same.
 
If the trader takes a closing position, then you do the same thing. If the master trader manages to make a profit, then you will also make a profit, but if the trader loses, you will also lose money. Here's how to copy trade. Already understand how copy trading works? Then you can take the Preliminary Test to test your trading talent through the aptitude.

Also read : 

Copy Trading Technology Upgrade: Traders Can Be More Profitable

What are the advantages and disadvantages of copy trading?

There are several advantages and disadvantages of copy trading itself. The following will be explained about these two things.

Advantages of copy trading

1. New traders are less risky

Since copy trading reflects the trading strategies of experienced top traders, beginner traders will be able to reduce trading risks by relying on the knowledge of people who have successfully traded in the digital asset space.

2. Learn to trade easier  

Learning the ins and outs of how to trade is not easy and it can be time-consuming. If someone has a very busy schedule, it may be nearly impossible for them to find time to trade, let alone learn how to do it. Copy trading can help beginner traders learn strategies and how to trade more easily.

3. Expert traders earn commissions

For professional traders this is a way to earn additional commissions while doing what they do every day.

4. Save Time

Copy trading saves time when compared to manual trading. Therefore, a trader who does not have the time or does not have enough knowledge, feels better to copy trades.

5. Education

Copy trading is also the best approach to learn trading strategies. The platform also allows traders to ask questions and read why certain trading strategies are implemented.

6. Access to Global Markets

Traders have limitations, so it is impossible to become an expert in all the world's markets. With the help of copy trading platforms, traders will not continue to be betrayed by any financial market. In the copy trading method, traders will also gain exposure to the global market and gain a global knowledge base.

7. Diversification

Diversifying a portfolio may have very little risk, and copy trading is one of the best ways to do so. It helps traders to copy trades from multiple investors and earn a good income month after month.

Disadvantages of copy trading

1. Time lag when ordering

One problem with copy trading platforms is how fast the market moves. A short pause occurs between the time an experienced trader makes a trading decision and a copy is made. In that amount of time, losses can occur to copying and inexperienced traders.

2. Same platform

Another disadvantage of copy trading is that traders have to use the same platform to place trades. This means that traders may have to switch to a platform that provides such features if they want to use it, and this is not something that traders prefer when it comes to switching platforms. 

Things to note for copy traders

Learn and pay attention to the accounts of top traders. Customize it to the trade you want to make. If you are a trader who plays with small risks then do not choose a trader who often trades with large risks. Adapt it to your needs and desires. See how consistent the performance of the trader you will choose is first.
 
You should choose a trader who consistently makes profits even with a small percentage, rather than following the trades of top traders who are able to make big profits but only for a certain time Never hesitate to do a manual cut and look for other top traders, if the top trader of your choice starts to decline and shows poor performance.

This way you can limit the risk that you will bear so that it does not become even bigger. Keep in mind how much risk you can accept through the use of stop loss. This is useful if the trader you choose increases their SL value more than it should.
 
Copy trading may be a good option for those who are interested, but as a trader it is still necessary to hone the skills in applying your own trading strategies and provide time for trading so that you can learn and understand.

Stay careful in choosing expert traders and the platform you will choose for copy trading. You can use a GIC broker to do copy trading itself by downloading the application of GIC on the Play Store or App Store. In GIC, you will find this copy trading feature under the name GIC Social Trade.

By using the GIC Social Trade feature, you as a trader can become a follower who can follow the actions of the masters in trading, either through copy trading (following the trading actions of the masters) or reverse trading (doing the opposite action, for example: the master buys, you sell).
 
You can choose a copy trade or a reverse trade depending on the performance of the master you have chosen. This feature provides advantages for beginner traders or for traders who are not confident in making decisions, but want to remain profitable. In addition, the advantage of GIC Social Trade itself is that you can cross platforms, namely from MT4 to MT5 or vice versa.

Still confused about choosing a platform for copy trading?

Don't worry if you are a beginner trader, GIC has an ecosystem that will help you start from trading platforms, trading education, copy trading features, and other features that make it easier for you to invest. Not familiar with GIC? Let's get acquainted. Unlike other conventional brokerage firms, GIC through the GICTrade platform provides a solution for traders who do not want to be charged with high trading fees.

GICTrade is a peer-to-peer trading platform that brings together traders and market makers. So, what is special about GICTrade? As a platform that brings together traders and market makers, you as a potential customer can certainly choose between the two, namely becoming a trader or a market maker. GICTrade's role as a transaction venue provider can minimize costs and help maximize profits for traders and market makers as well as create a fair transaction atmosphere and results.

Traders will benefit from the absence of commission fees and low swap fees and spreads due to the presence of market makers as liquidity providers. You can also join the trader community on GICtrade Telegram to ask fellow traders directly about their trading experience.

Also follow GIC Instagram to get webinar information and various attractive prizes. In addition, on YouTube GIC, traders can also learn to trade for free! What are you waiting for? Get more features that fully support you to start investing and trading forex through GIC. Make transactions simpler, safer, and more profitable. Start by creating a demo account. At GIC you can do copy trades across brokers! Let's try it.