The big problem with trading is that although everyone can make money doing it, we don’t have the time. It’s an old formula, some people have masses of time and no money, others have no time and some money. Also, the learning curve to trading is quite high, there is technical trading, fundamental trading (I favour a mixture of both ofcourse). There are signals, so what’s the easiest way to get the most out of your money when you have no time.
Social trading allows us to automatically copy the trades of experienced traders, but it goes even further allowing us to actually engage with those traders on a daily basis. Almost like we are trading as a team. It’s much easier to learn when you have help from others.
This kind of trading allows you to have hundreds of trades running at any time, with a minimal investment say $100 US (about £69) you could have say 5 traders.
I normally only give a trader $20 US to start with until I’m sure of them, after a week or two I look at their trades, does their trading style suit me? Have they made any big losses. A good trader should not lose trades. (Or only a very very small proportion).
Once you have started investing in this way you can go and learn how they trade, you can learn how to read fundamentals and charts. (Fundamentals is news that affects currencies).