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Elvis

How can social trading impact my business?

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Hi Elvis,

The biggest benefit associated with social trading is that it allows you to benefit from the expertise of other traders in the markets and book profits without having to be an expert trader yourself, which could take years of learning.

Your biggest responsibility when it comes to social trading is to find a trader whose risk profile mirrors yours, you should generally avoid traders with extraordinary results and major drawdowns, simply because there's a high chance their losses could wipe out your account.

What you should be looking for is a trader with great returns and minimum drawdowns, such traders usually also have a steadily rising equity curve, which increases the likelihood that copying their trades will grow your trading business.

Be thorough when choosing the expert to copy as this will determine the success of your trading business. apart from chart, check your account regularly to see how its doing and whether you need to make some changes.

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Firstly, I don't think that social trading can have a significant impact on your business. Social trading can only give you benefits, especially if you follow an expert's investment strategy. Anyway, I am not deep into this subject that why I can not provide more information. You should understand that there are many tools and programs to help people into their business lead now on the internet. Also, there are many specialists in predicting the future of your company, which are indeed helpful if you have some trouble or some doubts regarding your progress.

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