Pocket Option Social Trading Tips: How to Copy Successful Traders and Learn from Their Moves
There is a way to make money through trading without actually doing any trading yourself. This is called ‘social trading’ or ‘copy trading’. It involves duplicating trades from some of the most successful traders, and executing them on your account, sometimes automatically.
This means you can ‘trade’ as successfully as any trader that is willing to let you copy their trades from them. The biggest downside of this process is often the fees.
Top trades rarely want to let you copy them completely free of charge. Some platforms allow copying traders only if you give them 30-35+% of your profits. Which can drastically reduce the R/R of this strategy.
This basically means they are not responsible for your losses, and don’t give you anything if you lose from their trades. But your wins get cut significantly. Often it turns successful strategies into unprofitable ones.
Even worse when the platform gets to have a cut themselves. That would mean your profits get diluted, while your losses get concentrated (into just your account). And yet despite all of this, millions of traders decide to still go through this route. An allure of trading like the world’s top traders is just too irresistable.
An added bonus is, you get to see their strategy, their targets and entries, a specific playbook that certainly works. If you can understand and personalize it, paying a premium for social trading might be well worth it…
A better way to social trade
But, there is also a way to copy from the best traders, without paying anything for it, at all. Social trading completely for free. This is what platforms like Pocket Option enable. They let you see all the trades happening on the platform, and you can copy any of them, if you like.
There is also an extensive ranking of the best traders and trades in the last 24 hours, as well as best traders overall, and the most copied trades. You can also view users that are copying your trades, or the ones that put you on their watch list.
You can copy ANY trader on the platform, including all the best ones, and do it completely for free, without paying any fees or premiums to him, or the platform itself.
The only ‘payment’ is the constant fee that Pocket Option charges whenever you execute a transaction, which is around $0.5 in the Quick Trading mode, regardless of how large or how profitable a trade is.
Instead of having to pay anybody, and cut all your profits by 30%, you get to find the best traders yourself, study them for free, and execute either all of the trades that they do, or a small sub-section of those trades, with your own parameters (like the trade size). You can also message these traders directly — a feature not available on pretty much any other platform.
Still, even with all those advantages, there is a right and a wrong way to do things. You get a shortcut into real-market decision making by some of the best traders out there, for the specific asset and timeframe that you want, but will you take full advantage of the opportunity? To make sure that you do, we’ve prepared some tips. Use them wisely!
Tip №1. Study the trader first.
Don’t copy randomly. There are a lot of stats to watch, such as:
win rate percentage (preferably to be higher)
- trading profit
- total turnover (some have hundreds of thousands)
- number of completed trades (preferably above a thousand)
- assets traded (seek out traders that do crypto if you’re interested in that, or EUR/USD, or XAU/USD, if you are more into those markets).
Watching the amount of other traders that are copying this particular person is usually a decent idea right at the start, when you are not sure what you’re doing. But eventually, you start to be more and more excited about the ‘gems in the rough’.
Tip №2. Start small.
Even if the trader is highly and consistently profitable, it’s advisable to ‘dip your toes first’. This protects you from sudden strategy charges or unexpected market volatility. You also get to test the size of the trades that you are comfortable assigning to people. Pocket Option has a demo account, but it doesn’t have social trading, or AI trading for that matter, so the only way to ‘practice’ is with real trading first, just small-sized. Eventually, if you get more trust for the trader or the platform, you can start to scale up. But there is no rush.
Tip №3. Diversify.
There are plenty of great traders at Pocket Option, and tens of thousands of profitable ones (that can become great one day). Copying just one of them exposes you to their personal risk, or their one particular market strategy. Instead, we find it best to copy from 2-4 different traders:
- one that is just a trend-follower
- one reversal/scalper
- one trading BTC, XAU, or another asset you prefer
- one with a very consistent and conservative approach, that can compound your gains over time.
This protects your underlying capital, and makes your results more consistent, on average. If you want us to do more of these breakdowns and trading experiences, please comment below!
