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Choosing a Strategy is one of the most important steps to begin copying. Here are some essential tips for you to consider. Together, these tips can help you evaluate the risks and your profit goals to find the right Strategy to copy.
📆 Time-proven Strategies
The 'Active days' indicator reflects the amount of days a Strategy has been active.
This indicator does not reflect the success of a Strategy. However it allows you to see what Strategies were able to perform for longer periods of time. This is a good indicator to consider when searching for reliable Strategies.
📊 Profitability trends, growth and ROI potential
Strategy profit charts, Equity and profit statistics reflect profitability trends and the overall trading success of a Strategy.
High profitability in a Strategy with a small number of 'Active days' could indicate a high-risk/high-reward trading technique. On the other hand, Strategies with more 'Active days' but steady profit growth may reflect effective risk management and consistency.
💰 Strategy Provider's Equity
Another key indicator worth considering is Strategy Provider's personal Equity.
Providers that hold more personal funds in their Strategy may have a stronger commitment to use low-risk trading techniques and proper risk management to ensure that their Strategy is successful.
📉 Margin chart metrics
Monitoring Strategy's Margin chart is crucial to protect your funds from potential losses and high-risk trading techniques.
The 'Margin' chart reflects the amount of Margin the Provider uses for his trades at any given point of time. The more margin is used, the higher the risk. Strategies that use less margin are worth considering if you want to protect your funds from potential risks.
⭐ Additional Strategy activity indicators
Stars are additional indicators of the overall activity and performance of a Strategy.
Each Strategy can receive up to 5 stars in the rating system. Each star is awarded if the corresponding conditions are maintained by the Strategy Provider. The more starts a Strategy has, the more reliable and consistent it may be.
📶 Strategy's Pie chart
A Pie chart displayed in each Strategy reflects statistical and historical data about the assets a Strategy Provider trades the most.
Strategy's Pie chart is a great risk management tool. It allows you to compare the selected assets with their current market conditions. Estimate the potential risks and make a weighted decision to copy.
⌛ Patience is key
Strategy's trading success depends on many factors that cannot be predicted with absolute accuracy.
If you're unable to decide what Strategy to copy, the best option is patience. Taking additional time to monitor the Strategies you've selected will give you an opportunity to better evaluate their performance.
Disclaimer: For educational purposes only. You should not construe any/such information or other material as investment, financial, or other advice. DYOR - do your own research. Never invest more than you can afford to lose.