Introduction
Suppose you are a beginner or intermediate in trading and are not generating profit from trading. In that case, you should prefer to become a wise investor than a forex trader because forex trading is not an easy job. Only the top 5% of traders manage to profit from the market, and the rest of 95% of retail traders lose in this fast market.
The forex is a trillion-dollar market; if you are thinking of extracting profit from such a big market with experience of 6 months to 2 years, this will not come true. Because we are explaining this from experience, we want to guide you in the proper direction.
Our purpose of writing this article is that you should prefer to copy trade in the initial stages of trading instead of losing the capital without gaining some good experience and, in the end, leaving this market.
Pro Tip: In the initial stages, wisely do copy trading and learn to trade and gain experience from experienced traders.
What is Copy Trading?
Copy-trading refers to a process in which the investors copy the trades of experienced traders. If a pro trader opens a buy trade, investors will also open a buy position. While if a pro trader opens a sell trade, then investors will also open a sell position. In this way, investors will also make money due to the expertise of Pro traders.
Due to technology, it is not difficult to copy trade nowadays. It is just like a click-and-follow button, and then trades will be copied automatically into your account with proper risk management according to your account size. You need to analyze those trades to learn how experienced traders used to trade.
Types of Copy trading and working principles
There are two types of copy trading methods
- Manual Copy trading
- Automatic copy trading
In the first method, trades are copied manually. For example, if Warren buffet bought shares of TESLA, I would prefer to buy Tesla shares. This is manual copy trading.
In automatic copy trading, there are platforms like Zulutrade available on the internet that provide copy trading services. It is not easy to copy the high frequency of trades manually without time delay. That’s why Zulutrade has made it easy to copy the trades of winning traders.
You need to attach your account with the trader’s account with the risk ratio. Everything else the ZuluTrade will manage. In return, they will charge a small fee compared to profits.
Zulutrade platform shows the previous records of winning traders, and we follow those traders so we can gain some profits.
List of top 4 traders to follow for copy trading
I have picked the top 4 traders from Zulutrade (copy trading platform) depending on their historical performance, ROI, and risk factor. You can also check their performance to make a decision.
I highly recommend doing copy trading wisely if you are a beginner or intermediate trader. Don’t just copy the traders by looking at their ROI percentage. Look for overall performance. I will also explain a method to check the signs of a good and long-term trader
Fire GC: Grid Strategy Trader
This trader is on the top list at Zulutrade with many years of experience. He uses the Grid trading method to open and close low-risk trades.
According to the current requirement, if you have $1000 in your account, you can copy this trader with 100:1 leverage. Another guidance is also written on the performance page at ZuluTrade.
You can also check the real-time performance of this trader in the below graph.
I recommend this trader because of his previous six months’ performance, and many traders are already relying on this trader.
Note: Use icmarkets broker to follow this trader on Zulutrade because icmarkets broker has the lowest slippage rate. There won’t be a single difference in trade execution between the investor’s account and the trader’s account. Due to the lowest Slippage, I recommend icmarkets broker.
| Account type | Real account |
| Drawdown percentage | Low |
| ROI percentage | Moderate |
| Risk Factor | Low |
| Minimum Required amount | $1000 |
FastwaySignal: Trend following system
This trader has been trading using a trend following system based on the correlation factor. Correlation is highly profitable if traded with good strategies. By following this system, you are expected to earn 7 to 12% monthly ROI, according to stats on Zulutrade.
This trader also recommends an ECN raw spread account, and an icmarkets broker is best for it
You can also check the live performance of this trader below. If you have $2000 in your account, I recommend you copy this system.
| Account type | Real account |
| Drawdown percentage | Moderate |
| ROI percentage | High |
| Risk Factor | Moderate |
| Minimum Required amount | $2000 |
ThewinnerTakesAll: RMI indicator strategy
This trader has been using the RMI indicator in the strategy to make profitable traders. According to him, he has made a beautiful trading system by using three technical tools, daily timeframe trend, RMI indicator, and candlestick pattern confirmation. Candlestick patterns are the best technical tools for trade opening and closing decisions.
If you have a $1000 balance, you can copy this trading system. According to stats, this trading system has a bit high drawdown, but it also has a high ROI. So, if you can take a bit of risk, I will recommend this trader to you.
| Account type | Real account |
| Drawdown percentage | High |
| ROI percentage | High |
| Risk Factor | High |
| Minimum Required amount | $1000 |
Hansheng: High pips gainer
This trader has been trading forex for 20 years. The overall performance chart of this trader is also very natural. Natural means there are minor ups and downs on the chart. If a trader’s performance chart resembles a straight curve without little dips, you should avoid copying such traders.
The annual return of this trader is not too much, but the performance curve is very safe. So, if you’re looking to copy trade with safe returns, I recommend you copy trade this trader on Zulutrade.
You can also check the real-time results using the below widget.
| Account type | Real account |
| Drawdown percentage | Low |
| ROI percentage | Low |
| Risk Factor | Low |
| Minimum Required amount | $5000 |
Conclusion
Copy trading is also not a click-and-generate profit scheme. You should be very conscious while choosing an investor. You should also correctly follow the guidelines of traders like leverage, Balance, and broker. Because failing to follow them properly can also lead to loss.
Note: You should also read the risk disclosure related to trading on our website