Selecting Signal Providers – A Science Or An Art?
One of the great improvements that autotrading services have introduced to the FX industry is that they aggregate.
One of the great improvements that autotrading services have introduced to the Forex industry is that they aggregate and review the trading signals of thousands of Traders so that talented Traders emerge as top of their game while the fake or fraudulent ones are eliminated. For the user though, the adventure for successful trading does not end here.
A common misconception of autotrading services’ users is that when they discover such a service, all they have to do is follow the trades of Traders that enjoy a top ranking and this should ensure successful trading. Instead, users should try and find Traders that are not only successful but that also match their own trading style. To this end, autotrading services have incorporated a host of features that enable their users to discover the right Traders for their portfolio. It must be made clear though that these features assist and are not a replacement for the effort that a user must put in order to manage their financial assets.
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Forex trading is of a highly technical nature; autotrading is an attempt to simplify it and make it accessible to the masses. I believe that autotrading services should aim to incorporate advanced risk management technological features to ensure their users’ financial well-being and, at the same time, offer them in the most user friendly way possible.
I’ve seen that thing on the ZuluTrade homepage and it’s really not fair – Combined performance of first 5 traders. These 5 providers are different each day (probably even a lesser interval). And each day their post-factum performance adds to the chart. Of course it’s going up – they were the first 5 in the list, after it happened. I would rather like to see something like “The performance today of yesterday’s 5 top traders”. But my view on autotrading is that autotrading doesn’t have to be signal based, to go thru my brokerage account, have trades filled at other… Read more »