From my experience in analyzing the behavior of the traders on Currensee there are three factors that determine the success of an individual participating in Social Trading.
Performance proper due diligence
Perform a proper due diligence on the signal providers/Trade Leaders that you would like to follow, understand their trading style, their risk profile and make sure you have a good understanding of what you would be seeing if you followed these individuals.
Rob Frasca Talks Ndau as an Adaptive Store of ValueGo to article >>
Build a Diversified Portfolio
No one trader will perform great in all market conditions, try to build a portfolio of at least 3 Trade Leaders that are non correlated to one another. Building a portfolio from uncorrelated Leaders is not a simple task usually as volatility need to be taken into account when building such portfolio.
Stick to the Trade Leaders/Signal Providers you have selected
Common mistake that people do is to always chase the Trade Leaders that are at the top, once a proper due diligence was done and a proper portfolio was built the best thing to do is let the portfolio run for at least a few months and verify if the results match your expectation. You need to remember that marker condition change all the time and the longer you let the portfolio run the better estimate you’ll have of your satisfaction from the selections made.