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Many novice traders are wondering whether it is worth duplicating successful traders’ deals or conduct fix api trading by themselves, relying only on their own knowledge and skills. On the one hand, it is not so easy do the novice traders to understand everything right away and start earning in any stock market, like fix api forex. On the other hand, the most successful trader can go bankrupt, and history knows many such cases. But let’s look at this step by step.
Those who are just starting their way into the fix api trading often do not understand how everything is arranged from the inside: they do not have experience in trading and they do not feel the market. Then a question arises: can I earn money on the same forex, while I not yet learned to trade on my own?
Yes, there is such a possibility. You just need to repeat the transactions of the experienced fix api traders (http://forexrobots.in/2017/10/05/the-websites-for-displaying-trading-signals/ ). At the same time, you do not need to give your money to anyone. The control over trade remains only in your hands.
Now the trend of an experienced trader to offer distribution of his trading signals is quite popular. In fact, a novice trader simply pays a certain amount, which is assigned by the chosen professional trader, and he in turn transfers information about what transactions he concludes. There are also some free options for duplicating signals, but everyone decides for himself which option to choose.
Let’s see, whose transactions should be repeated at the fix api forex?
Now there are quite a lot of people who pretend to be a “pro”, but actually they are not. They get more benefit from the fact that they sign people for their recommendations, while they themselves often do not trade. In this regard, you need to be extremely careful when choosing a trader whose trading signals to duplicate.
When the trading signals of successful traders are duplicated, there are both advantages and disadvantages.
Advantages of duplicating the trading signals:
– To start trading you do not need to undergo additional training. All that is necessary is to set a goal and analyze the charts in order to understand who of the known traders is the most successful. Sometimes, you can request this information from your fix api forex broker.
– Copying the trading signals is quite easy and convenient, using special trading terminals, such as MetaTrader 4 (often called fix api MT4), which, thanks to its wide range of graphic tools, allows you to copy trading signals in an automatic mode, which gives you the opportunity to do your own activities and receive passive income.
– Copying the trading signals is a great opportunity for additional free training or for a relatively small amount of money. After all, by watching the trading process of experienced traders, you have an excellent opportunity to analyze what kind of transactions they make, when they finish the transaction and how they exit it. If you study a theory along with this, you can get invaluable experience that will help you in your further independent trading.
– An important plus is that when you copy the trading signals of a successful trader, you will get a profit that can exceed by multiple times your profit, if you have traded by yourself. But do not forget that the higher the potential income, the higher the risk level.
Disadvantages of duplicating the trading signals:
– You do not answer and you cannot influence the final result of the transaction. This can result in significant risks if the trader whose signals you started to duplicate turned out to not be competent, or he started a “bad luck” in fix api trading. In this case, you risk burning out by following him. In such a case, it is often very difficult to correct the situation, if something went wrong.
– As we wrote above, even the most intelligent and successful trader cannot take into account some risks and go bankrupt. Certainly, you will get no guarantees that this will not happen at the time when you star duplicating his trading signals.
– When duplicating trading signals, you do not get practical experience in trading. Yes, you will get theoretical knowledge how to trade, and you will be able to track the signs that a successful trader uses, but that does not mean that you will be able to successfully trade independently on any market, and the fix api forex is no exception.
If you decided to duplicate signals of successful traders, we recommend that you consider working through the MT4trading terminal, which allows you to automatically copy the trading operations of selected traders, while this happens in a real time.
As we have already said, many traders share their operations in the forex market on a free or paid basis and become providers of the signal.
Using a wide range of graphic tools, you can configure the terminal so that it gives you priority trading signals at the top.
At the same time, MT4 allows you to see, select and subscribe to the trader you are interested in directly from the trading terminal.
For the fix api traders with experience, showing their trading signals is a great opportunity for additional income.