Forex – it’s the market that everybody wants a part of. And if you’re reading this article there’s a good chance you’re already involved in the market, or at least seriously considering becoming so. But why stop with just making money by trading? You should consider selling trading signals as you make your Forex trades. You can accomplish this in no time with an account copier.
ACCOUNT COPIERS
Account copiers do just what they sound like they do – they copy the trades you make on your account to other peoples’ accounts. You can sell these signals for a percentage of the profit that other people make by using them.
HOW DOES IT WORK?
A Metatrader 4 or MT4 account copier works by linking multiple terminals together in a “master” and “slave” relationship. It then runs an expert advisor on the master terminal, logging and copying your trades, then sending a signal to a different expert advisor on the slave terminals, which processes those signals and makes the same trades for those accounts. This is done nearly instantaneously over the internet – the slaves trade at just about the same time as the master.
HOW DOES THIS BENEFIT YOU?
The obvious benefit is the chance to make more money. If your trading strategy works, people will buy your signals. Since you can sell those signals for a percentage of the money that your clients are making with them, the risk to you is nil, and the risk to them is minimal since they’re not paying out of pocket. True, they’re risking their own deposits, but that’s a manageable risk since you will have shown them proof that your signals are worth paying for.
PROVIDING PROOF
Get yourself set up with a known third-party monitoring site. You’ll be able to send your prospective investors there to check out your account’s history. Another way is to give your potential clients investor access to your actual live account. This way they can log in to your account with your broker. It’ll be read-only access, but they’ll be able to check out everything you’ve ever done on there.
CAN IT COPY TRADES FROM A TRADING ROBOT?
This is another great advantage of an account copier. If you have a great trading robot, use it along with the copier to really make money for your investors. You won’t have to spend hardly any time in front of your computer at all and you’ll be making money trading your own deposit as well as other peoples’ money.
FINDING AN ACCOUNT COPIER
Forex forums are a good place to look. There is no lack of traders on them who can’t wait to let you know which are the good copiers, and which are the crappy ones. With some careful research you can get a good idea of which account copiers are the best to try.
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