Social Trading Guru Tips

Social Trading Guru Tips & Guides

Social Trading Helpful TipsBefore you read through our Social Trading Guides and Tips, please note this important disclaimer:

” SocialTradingGuru.com does not offer investment advice or make recommendations as to the suitability of social trading for you. This website is to be used for information purposes only.  Should you require advice, please contact a financial advisor.
Please note that the value of investments may fall or rise and you may not get back the full amount invested. Past performance is not necessarily a guide to future performance.”

What we’ve tried to do in our guides and tips is write down our own experiences and our own thinking process when we make certain decisions.

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Getting Started with Social Trading:

So, what are the steps you need to take to start “social trading”?

1) Select a Social Trading Network

2) Select a Broker (only if trading with real money)

3) Select the Traders you want to follow and copy

4) Select how much money to allocate to each Trader (Money & Risk Management)

Each of these is discussed in more details over the next pages in our tips section.

A quick way to start get started (and this is what we did) is to open a free demo account with ZuluTrade and/or eToro (click here to open demo accounts). This allows you to get a complete feel of what social trading is without any risk. The selecting of the traders to follow and money management guides apply as well to demo accounts. You will however only get value from opening and playing with a demo account if you treat it in the same way as you would with a real money account (there’s no value in treating this like a casino game).

If you’re only considering investing $1000 in real money, then only allocate $1000 across different traders in your demo account. Otherwise your expectations will not be met when you move to start trading with real money because your profits will be lower than what you managed in your $10000 demo account.

Try to use the same process and risk profile in your demo account, as you would use when investing with real money. I.e. spend some time reading through the tips on selecting traders on each of the social trading networks, and if you want to take a low risk approach, apply this to your demo account as well. There’s never a total substitute for trading with real money as people tend to be happy to take more risk with virtual money.

 

Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.

CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.

Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.