social trading software, social trading websites, social trading platforms, social trade .... What is this?
Recently I came across a new concept that combines social media with Binary Options trading, and immediately I could imagine the potential of such a combination, particularly for beginners, in trading Binary Options. You can remember that I have already mentioned that Binary Options trading can be very profitable, but that it also carries significant risks. Now, you can think that the emotions of something with only two extreme potential outcomes can be quite intense for a person, I mean we all care about our money… right?. This is particularly true for beginners, but if we consider the benefits of going through that but not alone and instead as part of an online community where people can chat and have the opinion of more experience people …. Now the anxiety of such moments can be significant reduced … now you are not alone. And on top of that, this social trading platform gives you as well the possibility to “copy� the trading activities of other successful traders …. That can be no doubt a real benefit to you … correct?.
Now let me go back a little bit, I have insisted all the time about the importance of understanding and to support each trade with knowledge, so how come can I be talking positively of something that is basically the “human� version of the so-called “Binary Robots� …. See, my point of view is not about making things effortless for you …. What is actually important to me is the learning experience at looking the way somebody trades and the strategies that person is using. This is for me where the real value is, and you can do that with several of the most successful traders in that platform without actually risking no money. Yes, risk-free because you can do that with a virtual account using virtual money… that is great! …. You will be looking at the experts, understanding what they do and looking at the results of their strategies for free…. What a great value !.
I will always emphasize on things that can make you feel more comfortable, have a better understanding of the risks and make you more successful from the beginning. This can go beyond my personal experience .. Like in this case, with this social trading platform … which at the beginning I did not have that resource and I needed to do it by myself and it was painful sometimes, I can tell you …. But you should know me by now, those are the things that makes me continue and get better.
This is not a formal review for the moment, because I need to explore this platform a bit more to be capable to make a meaningful review for you. I just wanted to highlight the concept of social trading and how it can be beneficial for novice traders.
The name of the platform is eToro, eToro webtrader, eToro social trading o eToro online trading. This is the logo .
Please have a look at my new eToro Review
If you have any questions or comments please fill the form below and I will get back to you ASAP
I do some forex currency trading and I have been learning about options trading for some time. I must admit that the curve to learn options is very steep for me. So, your articles about binary options robots caught my attention. But to be honest I’m not really sure, if you are recommending some binary options robots or just etoro platform?
Dear Kristof . Thanks for your comment and question.
This article is actually about the benefits of “social trading” for beginners, benefits in terms of learning and understanding the concept of option trading. I believe we can say that indeed I am recommending etoro, because they are the only platform that gives you the possibility to interact with and “copy” more experience traders, but I will tell more later.
Binary Robots is an automated version of what is called “technical analysis” or the analysis of the variation of the option price with time (see https://incomewithbinaryoptions.com/techniques-and-…) … it requires however human intervention coming from the “fundamental analysis” because price is not just mathematical behavior it is also affected by human events … so, Binary Robots can be good but only if you can intervene in time or before events trigger a change in pattern.
Hope this helps … let me know if you have more comments or questions .. I will be glad to answer