Nowadays there are different ways to profit in the market, when online trading just introduced in the market way back in the 90's, their is only one way to make money in it which is to learn how to trade in a profitable manner in a consistent basis, but the problem in this setup is that becoming a profitable trader is just a pain in the ass and may take years of constant practice before you can fully understand the in and out of the market.
Most traders shy away in trading after a few months of losing money in a constant basis, so brokerage firm try to innovate the market by introducing PAMM account or copy trade program so that traders has the chance of making money right away without really going into a lot of practice and learning, all you have to do is just to chose and pick a profitable trader and copy his trade in your account so that you can also profit from his strategy.
Another way to make money in the market is to use a trading robot or EA(expert adviser), instead of learning how to trade manually aspiring traders can just chose and purchase a trading robot and run it 24/5 in his PC or in a VPS(virtual private server), creating a trading robot is also one way of automating your current manual strategy so that you wont have to spent hours of monitoring your trading chart looking for trade opportunities.
Whether a trader uses manual strategy, copy trade or use a trading robot it is important that he/she must test a particular strategy before using it in live account to avoid excessive lose of money.
No comments:
Post a Comment