Over time, the way we do just about everything changes; that especially goes for investing. As a matter of fact, the world of investing is far different from what we knew just ten years ago. Thanks to continued evolution in the industry, the investing process is becoming more and more social. A great example of what I mean by social in the trading and investing space, let’s take an in depth look at one of the leaders in the market, Copyop.
What Is Copyop?
Copyop is a relatively new, yet incredibly popular social trading platform that allows traders to connect with, watch and copy what other, profitable traders are doing in the market. The unique system gives traders an in depth look at the profiles of others and allows them to copy strategies without losing the opportunity to manage risk. Here’s how it works….
Copyop Key Features
As mentioned above, Copyop is a social trading platform. Therefore, it’s key features have to do with using the social atmosphere to become more profitable as a trader. Here are some of the key features that can help do just that…
- User Stats – Because the system is all about following and learning from other traders; it’s important to understand user statistics. With Copyop, you have the ability to see users’ hit ratio, the amount of users that copy the user, the amount of users that watch the user, the assets the user does best on, best profitable streaks the user has had, and the average trades per day the user makes. Looking at this data, it’s easy to decide which traders are best to follow, watch, and copy.
- Copy User Activity – One feature that I enjoyed quite a bit when testing out the system is the copy feature. With this feature, users can automatically copy the trades made by other users. So, when the followed user makes a trade, that trade is also made in the follower’s account. This feature gives new comers the ability to make money in the market while they move through the learning curve.
- Hot Table – The hot table displays the most recent profitable users and the trades they made. It consists of three sections, each listing the top 20 users. Those sections include “Best Traders”, “Best Trades”, and “Best Copiers”; ultimately making it easier to find successful traders to follow.
To most experienced traders, this may seem like fun, but one big thing that will come up is risk management. In all actuality, I was incredibly impressed there too. When I first thought of the ability to copy other traders, I thought that would be neat, but I’d have to set specific parameters in place to ensure that I wasn’t exposed to too much loss. However, as I dug through the system, I found that Copyop makes putting those parameters in place a relatively simple process. While traders do have the ability to copy 100% of the data from other traders, they also have the ability to customize the way they copy in order to manage risk. For example, you can choose the amount of money per trade you’re comfortable with putting up on each copied trade, choose how many trades to copy per day, and the amount of assets you’d like to copy trades on. Essentially, even though you’re copying, you’re still in control!
Trading On The Go
As with most people these days, I find myself on the go quite a bit; and sometimes, I like to trade while I’m out. So for me, it’s important that the platform I use offers mobile friendly services. With that said, Copyop is currently available on Google Android and iOS devices with all the bells and whistles you’d find on the computer.
As mentioned above, the way we trade and invest in financial assets is evolving rapidly; and I have to say, Copyop is the perfect example of this evolution. The system gives new traders a way to get their foot in the door and turn a profit during the learning process. Even experienced traders can learn from the actions of others; resulting in lest time spent researching opportunities. All in all, I was incredibly impressed with what I saw at Copyop!