Imagine interpreting trading charts, learning about technical indicators, reading news surrounding a particular asset, and keeping up with the market trends to have an edge. It doesn’t sound so easy, right? Especially when you are doing it every day of the week to capitalize on the markets’ opportunities.
This could be the reason why 90% of traders are not profitable. Roughly 80% of those who enter into this profession lose money, 10% tend to break even, and only 10% percent are able to generate returns.
Such a large population of traders losing money while trying to become profitable is real, and I used to be one of them.
To my advantage, I discovered a number of social trading platforms that made it easy for me to learn about trading. These companies encourage successful traders to share their wisdom by rewarding them for their accuracy and ability to attract novice traders.
Like I did, you can avoid the pitfalls of learning how to trade by simply copying other investors’ trades.
Becoming a profitable trader has never been this easy. You can basically have someone or multiple people acting as mentors through social trading by monitoring their ideas, insights, strategies, and tools and making them your own. You can literally make a buck while learning how to trade.
Given the high volatility that characterizes the cryptocurrency market, having a robust risk management strategy might be the key to profit from this new asset class. So while you get your trading skills on point, you should try out social trading platforms and copy some of the most successful traders.