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What is copy trader? (and do you need it?) and gold H&S complete (up we go?)

I have been reviewing my new broker recently and one thing that is fantastic about their web based offering is copy trader. This is a way for you to copy trades from other traders who have a proven, profitable, track record.

The problem with this ofcourse is you ARE copying their losses as well as profits, *BUT* as they have a proven track record that is good insurance in a way that you should, if you stick with them make a profit on that portion of your account. One of the problems I have had with other brokers is the need for two separate accounts one for MT4 and one for the web trader platform, sometimes the web trader platform has more/different functions that I might like to use. With BelforFX they have one account for both platforms which is quite neat.

If you are a small, part time trader or have a small account of say $200 to $500 US you may want to use $100/$200 with copy trader to expand your trades. Ofcourse you are still in control of your trades.

I have included a screen shot of the account. – Look in the centre of it you can see the copy trader function.

 

If you want to try this out – just sign up for an account you can do it by clicking on the banner above and try it out. Even if you just put say $200 and let others trade it you can make profit.

Incidentally the trades also show up on their MT4 platform so that’s pretty sweet.

GOLD

As you can see from the chart Gold completed it’s head and shoulders pattern and rallied up yesterday. If the move bullish continues we could go up even higher if we are forming another bullish move 1347.35 is a crucial level if we break out of the down trend that we appear to have returned to then we could be going to heaven and above. What if we reached 1800?

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