How to select Top Traders on Social Trading
One of the keys to Social Trading is to understand the profiles of the Top Traders who operate on the platform. These expert traders publish their operations so that they are visible to others, who can start following and copying, but you need to be able to interpret what you're looking at to make wise decisions.
It is essential to:
- Understand the profiles of Top Traders
- Know profitability and consistency as essential values for Top Traders.
- Analyze the data that can be found on the NAGA social trading platform, in the Top Trader classification section.
Top Trader Values Before deciding which Top Traders you want to follow, you must define what the values and characteristics are that you are looking for in a trader. Two of the main values you should consider are profitability and consistency.
Profitability this is important because the trader must have the financial freedom to be able to trade. And, after all, your aim when social trading is to invest and make profit. For that, you'll need to follow profitable traders.
Consistency is about making regular gains over longer periods of time and trading with common sense. Don't get too excited or nervous about not getting what you want quickly. In the markets, a long-term view is best.
How to find the Top Traders information in NAGA Once you've decided on the values that Top Traders should have you should get started by looking for information and data in order to choose the most suitable Top Traders to follow and copy. We will analyze the NAGA platform and see the data it offers. As you will see, there is lot of information to learn - and filter to find the best.
One of the main tools is the leaderboard of the best NAGA traders and their trading statistics. Traders enter the platform and are classified, depending on the benefits they get or specific performance metrics.
You always have to take into account that past returns do not presuppose future ones. Here there are no guarantees that you will gain what was gained in the past.
Another thing you should consider is operational risk. You probably trust that you are person with common sense and a fixed strategy but you should take into account that there could be errors with the operation, the platform, the Internet, network connection, etc. When you start trading on the platform you must take the risk that something may go wrong at some point and you should plan how to manage it practically and emotionally.
Filters applied within the Top Traders ranking Within the classification section, you will find filters that allow you to make personalized searches based on your interests. The main filters are the type of information, period, location, and people.
The people filter allows you to find the investors you would like to copy and see the people who follow you.
The location allows you to to search for traders from all over the world or only the people who are closest to you.
The perioddefines whether our investment strategy is long term or short term.
Within the type of information, you can assess the following filters:
Performed benefits: here are ordered, over the period that you have chosen, the traders who have achieved the highest returns but only from closed trades. In other words, it is the sum of all the operations closed during that period and their profit and loss.
The benefit to copiers is what Top Traders have earned for their copiers, the people who follow them.
The best copied are the people who have made the most money copying an operator. They are people who have known how to select Top Traders and have achieved the according benefits.
Earned Copy Bonus: this is a measure for you to see what a Top Trader can earn by being copied.
Managed funds: these are guarantees that are open in the market.
Better return: here the return on investment is calculated. For example, if you use €200 and the return could be €20,000, it is not the same as using €200 on and operating for €2000.
The most copied: this indicates the followers that you have had during the marked period. The more followers the more bonuses, the more commissions, the more volume, the more of everything. It is about trading well, adding followers and not losing them - and trying to be consistent, reliable and diligent in your operations.
These are some of the main criteria that will help you select your Top Traders.If you want to know the rest of the Social Trading tools that NAGA offers, don't miss the whole class: How to select Top Traders on a Social Trading platform
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Social Trading Teacher of Canal Trader school.
Learn about Social TradingSocial Trading is a new system that gives everyone access to the world's best traders. You can follow top traders and automatically copy their trades. You make money when they make money with no trading expertise required. This is the Social Trading revolution.
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