What is Social Trading?
In common sense, social trading is a platform for social interaction built on automated trading that benefits investors. Although it comes in many forms, “copy trading” is the one that is most frequently employed in the Vietnamese market.
You can see and duplicate all of the professional traders’ activity through social trading, from their most successful to their smallest trades. This strategy is fully automated, so you don’t need to spend the entire day sitting and watching orders, waiting for traders to place orders, and then copying. Finding traders to invest in and follow is all you have to do. The supplier handles every task for you, including order placement, loss-cutting, profit-taking, and capital management.
This is a forum for novice investors wishing to enter the financial market, both wet and dry. All you need is money; you don’t need any experience, information, or time. You pay commissions to people who copy your orders and you follow the professional traders. Both sides receive payment after the order is successful. You won’t lose the commission for this transaction if the order doesn’t go through.
What benefits does this form bring to investors?
No investment can go smoothly from start to finish. Even the fact that you do not invest in this form but instead pour money into stocks, real estate, banks, etc., also brings many unnecessary risks. When it comes to investing, it’s about risk. You should just find a way to minimize that risk. How can you maximize your profit from idle money?
The answer to this can only be social trading. You have capital; talented people have the ability to analyze finances from the beginning. You pay them a commission, and they help you make money on their hidden talent. And, in the end, both parties benefit and profit.
You are a capital provider for professional traders; what will you get from social trading?
- You will be profitable. 100% sure. You will have orders to make money thanks to the super-analytical ability of professional investors.
- Increase income from idle money. If you try to calculate the risks when putting money into investment methods, where is the least risky place? Is there a safer investment than using knowledge combined with natural ability?
- You will see 100% of the process they use to create the order for you. The steps, judgments, and market corrections are all public if you follow them. In other words, you will be given a lot of experience by them to gain momentum in developing capital.
- They are all tested on the floor. The data about followers, percentage of making money, monthly profit, percentage of generating profit, etc. are clearly displayed in the information section.
- No time, no experience, no knowledge You take advantage of idle money; they take advantage of the accumulated knowledge.
- If there is a good choice, this idle money will have the opportunity to become your main source of income.
How to use social trading to make the most money
The platform is available, and the floor is available, but does everyone know how to invest effectively? The proper way to do social trading is not to pick a master at random and follow them; the proper way is to look at their information, see how profitable they are, and what rate they have.Here, I will list some popular social trading tips to earn the best profit for new investors.
- Choose the right floor. A reputable broker will help you maximize your own profits and triple or quadruple your idle money, depending on the trader you follow.
- Immediately eliminate traders with a lot of profit in a short time. I’m not telling you not to trust them, but I’m reminding you to be careful with these traders. To be thorough, you should choose traders with more than 1 year of trading experience, little but regular profits, regular monthly profit rates, no ups and downs, etc. Safe, smart investors will choose for themselves a professional follower.
- Set up two accounts and divide the capital fund in half. One account uses copy trade, while the other is typed by you. You will actively create orders in your own trading account based on the copy trade account. At this point, you will have to pay fewer commissions and can maximize your profits.