10 tips for successful social trading
Social trading is a form of investing that allows investors to observe the trading behaviour of their peers and expert traders and to follow their investment strategies using auto copy trading activities. The World Economic Forum report has even called it a low-cost and sophisticated alternative to traditional wealth management.
1. Use auto-copying
2. Never forget tip
3. Don’t underestimate the social features when it comes to investing
4. Follow the strategy of more than just one trader
5. Do your own split-run testing
6. Avoid new and unverified users
7. Following “Most Copied” isn’t always the right way to go
8. Never hesitate to stop
9. Reinvest your gains
10. Do your own research