It was excited when you learned about the advent of this new (then) idea of social trading for the first time. It has been like the biggest step in online trading for many traders you might imagine. Sadly, once you got into the field, realizing it wasn’t as easy as it seemed, it hit us with a stunning, solid punch in the face.
It’s Not Easy as Its Looks
It is not easy as its looks. But, don’t get upset. Social trading really makes it a lot easier and helps new and more novice traders to get into the market without knowing what you already known.
It’s a way for us to share our expertise and experience, and to learn much quicker. This also gives us the rare chance to let someone else do the dirty work for a change. And the reality is a little different. If you’re talking of “getting rich fast schemes” that include social trading, it’s time for you to just forget it right now. It’s not going to happen.
Why It is Not Easy
It is about the tip of the iceberg. Under the surface there’s a lot more going on than you know and this segment will make sure you’re learning all of that (and more).
The first thing that makes it complicated is to choose a trader. And if you want to stick to copying trade and not even bother learning how to trade (which is the most lazy of all alternatives), you still need to be careful to examine each profile, check each trader, and even track them all the time to make sure they don’t waste your money.
You can’t just pick a group of traders that you think are fine, sit back and wait for the money to come down from heaven.
If you want to become a real trader, and not only wait for someone to tell you what to do, you need to learn a lot. This is where social trading is perfect as it decimates the learning curve and helps you to learn much more easily and in a more oriented way, missing all the pieces you don’t need. But even then it needs time and money.
In the end, It Looks Easy, But…
It looks easy, because it looks simple with the definition. You work with other, ostensibly more experienced people providing knowledge. If they make a specific decision, then it is fair that you will do the same. The data has to be legit. Even if you’re not overly optimistic, you can still look at a profile of traders and assess their reputation.
