Post
Topic
Board Trading Discussion
Re: The Power of Social Trading: Can It Improve Decision-Making for New Traders?
by
naira
on 20/06/2024, 14:02:46 UTC
On one hand, it can be awesome to learn from the pros and see how they're reading the charts. On the other hand, blindly following someone else's signals might not be the best recipe for success. So, what do you think?  Could this kind of social sharing improve decision-making for new traders?
I don't pay much attention to these features when trading or take the time to share signals with others. Because for me, the main capital in trading is enjoying it myself. Isn't it true that in trading we are all vying for profit, if we only get a little PNL then we share it as if the technique is effective even though in reality it is not for other people's trading.

My advice is not to be too reckless in following the signals they display on the front page, because you will have difficulty referring to other people's trades whose volume is already high. For beginners who start trading, it is best to start with a minimal amount, while learning to understand market movements little by little, try several ways that might be able to position yourself first. In trading, there is no need to rush to get big profits, there is always a process and stages. Most beginners, when looking at the trading volume of professionals, always put forward wishful thinking and forget the main basics which ultimately end up not being ready for the reality when they experience losses.
Of course, learning from other, more professional people is highly recommended, but you have to be able to adjust your trading portion, you don't have to always follow their trading method 100%.