Can you really make money with Binary Options Social Trading using Pocket Options Copy Trading Feature? Welcome to my Blog post about Pocket Options social trading feature and how to use it for the best long-term results!
Binary Options Social Trading Reviewed
Watch the video below to learn more about how to use social trading with binary options the best way!
Best Way to Use Binary Options Social Trading!
Follow these simple steps to find successful traders you can copy using the Pocket Options Social Trading for binary options! Remember that there is never a guarantee for-profit, and past performance is no proof for future performance!
- Sign up to Pocket Option by clicking here and open the desktop version (As I know it is not available inside the App)
- Click on the social trading icon (1) and click on the “All Assets” Tab (2)! Here you see the top trader in the past for all assets! When you click on one of them, you get some more statistics!
- Try to find successful traders with the following statistics: More than 500 traders overall, all-time win rate above 50%. Make sure that he uses no martingale money management if possible!
- Click on the following icon when you find a good trader. Now you need to set up your money management settings!
- Ensure to use these settings to limit your risk! You can set a minimum investment/balance. You can define your minimum and maximum trade amount and a percentage ratio to the original traded amount when you automatically stop following this trader! Use these settings to avoid high losses!
Copy Trading Binary Options Tips and Tricks
Here are a few tips and tricks you should keep in mind when you start copying fellow traders on Pocket Option or IQ option:
- Choose the traders to follow wisely – As you will copy their trades, you will also copy their losses. So ensure only to follow a profitable trader with good trading strategies and performance!
- Check your stats regularly – Traders are only human. Less-experienced traders and amateur traders may not understand market mechanisms and fail to identify key markets, unlike advanced traders. Their performance may change, to ensure to check their statistics and trading activity regularly, once a week for example!
- Don´t get greedy – Keep your money management safe! Only invest 0.5 – 3% of your overall capital in a single trade. Take your trading decisions wisely!
- Diversify your Risk – Do not only follow one trader, instead choose 2-5 traders to follow, depending on the overall capital you can use for social trading!
- Take a Binary Options Broker Bonus– The downside of accepting a broker bonus is the minimum trading amount to get it paid out! There is nothing terrible about a bonus if you plan to use social trading, as you will quickly get many trades to cover the trading volume! So I recommend choosing one of the Pocket Option Promo Codes by clicking here!
Thank you for reading this post till the end! Ensure to also read the other articles here on this site to learn more about social trading platforms, binary options trading industry, internet trading, financial markets, and more. Do not miss following us on Facebook, Twitter, and Instagram! If you have any questions, leave a comment or message me on Facebook here!
Binary Options Social Trading FAQs
Is Binary Options Social Trading safe?
Social trading also carries a certain amount of risk! It is just as good as the traders you follow! When the trader loses money, you will too! When the trader makes money, you will also. That’s the nature of the market!
Is it better to trade yourself?
It also depends on the binary options trader you follow! And how good you can trade binary options! It depends on your trading skill, trading style, experience, investment decisions, scales of trade, choice of market, and market conditions. I´m trading myself, and it feels much better than following others! But if you are low on time or do not know much about trading, binary options copy trading may be a solution for you!
How much can you earn using binary options social trading?
This entirely depends on your investment amount! If you invest more, you can earn more! On the other hand you can also lose more if you don´t choose the trader you follow wisely!
Yes, it really works. You need to put some time into choosing and tracking your trader, as they are also humans making mistakes! Also make sure to check the performance from time to time, to avoid losing more than needed to learn about a bad trader! Hope this helps!
Is social trading safe? Or will I lose my investment in most cases?
It is for sure not a scam, but safe is also not correct! There is always a risk with trading, and if you follow the wrong trader, your money may be lost faster than you can think off. The key is to choose wisely and use the risk management functions provided by most providers. There always is a risk, but this way you can minimize it!
I love the option to let others trade for you! Sure, there is a risk of losing money, as people are not perfect, but I managed to make profits after just a few days, without loosing too much! It is important to check the stats regulary, and to use the risk management functions at PO social Trading correctly, but then its working fine! Just one thing: Make sure to follow not too much trader with small amounts, this is something pocket Option does not allow as it seems! Better follow a few traders with a good amount (Does n´t need to be high, but matching to your overall balance, 1% per trade should work!) – Thanks for your article it helped a lot!
Thanks for the information! And great that it works for you!