Actually there are several types of copy trading that are often done by traders in general, all types or methods of copy trading are all the same, namely copying transactions, but when compared, which one is the best and has the lowest risk.
Copy Trading is divided into two types, namely Manual and Automatic. Sometimes we forget that we actually often do copytrades, whether it's looking at other people's analysis, looking at position entries in the trading group or the signals given by other traders.
Manual Copy Trading
Copy Trading manual is usually done in a group or trading community, or commonly called Trabar which means Trading Together. So all members of the group can follow the existing signal, but this method is less effective if the group members are not always active / online, because they will miss the moment.
Automated Copy Trading
Automatic Copy Trading is divided into 2 again, namely Copytrade using Robots (EA) and Without Robots. If without a robot, where will the transaction data be taken from? Yes, of course this is taken from the MetaTrader server directly, no longer between robots or EAs (Expert Advisors).
Copy Trading by Expert Advisor
Copy Trading robots are the most common type of copytrade, why? because of the low price and easy operation, this type of copytrade requires a stable VPS to operate the copytrade robot for 24 hours.
This type of copytrade also has a high risk of failure, because it has a fairly high “delay” even though it can be seen as fast, when compared to copy trading without a robot. Not to mention that copytrading through this robot must have sufficient VPS specifications, because to be able to do copy trades through this robot, it is required to install two MetaTrader installed in the same VPS.
Copy Trading Without Expert Advisor (by metacopytrade.com)
This type of copy trading is the best copytrade method and has a low risk, why? Besides being able to see complete and updated Trader statistics, you can determine your own role whether you want to be a copytrade Trader or a copytrade Follower.
The advantages of copytrade by MetaCopyTrade is:
- No need to install copytrade robot or EA (Expert Advisor).
- No need to rent a VPS (Virtual Private Server).
- No need to install additional applications or software.
- Free Setup (Trader and Follower just fill in the form)
- The most optimal copy trading speed.
- The risk of copytrade failure is very low.
- Unlimited without time limit.
- The system is very transparent.
- There is no broker limit.
- All kinds of MetaTrader 4/5 versions.
Copy Trading is functionally very simple, namely copying transactions, but behind that you need to know which type of copy trading is the best and safe to use. Forex Trading is very risky, especially coupled with the wrong copytrade method, it will add even greater risk.