Forex $ocial Traders
 

           

About Us

We are a small group of traders with different levels of trading experience, skills and education in the field of trading financial markets.

Our Mission Statement:

“Contribute to social trading community by sharing information and our own crucial observations both negative and positive about social trading platforms, their traders and signal providers”

Although, it is possible to make money by copying other traders on social trading networks, but it is not as simple and straight forward as presented by those networks to general public. Because, there is certain level of knowledge required to make the right selection of traders to copy.

We hope that our blog would help our readers to avoid common mistakes and traps waiting for investors on social trading platforms. As well as, how to spot recklessly behaving traders, who sooner or later would blow up their accounts, resulting in significant losses of their copiers.

But please remember that we are not giving on this blog any sort of investment advice, or recommendations, which traders to copy. This should remain in sole discretion of our readers.

The idea to create forexsocialtraders.com project was born immediately after one of the internet marketing conferences held in London, February 2013.

During this conference one of our colleagues, who is an IT specialist and not an experienced trader, won a voucher worth $300 USD from eToro. Then he decided to invest the whole amount to copy one trader from the list of top 10 best performing eToro traders. He was assuming that those traders are the best candidates to copy.

After few days, to his huge surprise, his trading account was down $60 USD, which represented 20% loss of his original capital. He then asked us; how was it possible to lose such a big chunk of his investment so quickly?

(This is actually a true story.)

Then, we realized that if our friend, who is very intelligent and smart person, shows signs of herd behaviour and blindly follow top ranked trader, without making any deeper risk analysis, and questioning, if he made a right choice or not. There must be many more naive investors on social trading networks acting in similar fashion with tendency to copy and follow reckless traders.