who might be tempted to isolate themselves. It is not a matter of laziness to keep up with a great trader and copy trades; it involves work, which then gets your brain involved. Anyone will be able to view your trading activities in real time, and if they wish, they can mimic you by copying your trade. You might copy trades this way, or you might simply use the forum to learn and develop your own methods. Some partnerships are formalized; others are not. It removes the auto in auto-trading that makes automatic trading so dangerous, and it gets you more involved in your trading than copy trading through a social trading wall. This is just one way that traders come together to join their resources, bridge their techniques, and help each other out.
The trading format was easy to understand, the risk was minimal (compared to spot forex, futures and leveraged margin trading) and it, binary options, provided a platform for new traders to get their feet wet. Social trading still exists, but not in the form it once did. I am the son of two eastern NC rednecks, one a former Army helicopter pilot the other a designer seamstress. Thats what Im here now, to help point traders in the right direction.
On top of that, forums and chat communities give you a chance to actually talk to the people you are trading with! If you discover a trader who does a great job, you may be able to take advantage of that traders skills and knowledge to boost your own profits. In the end, they all start with a community so if you find one that looks interesting join up to see if you like. Like anything, social trading has its own set of advantages and disadvantages. You have to do more work to keep up with a forum, and you therefore are more involved with your decisions. On forums, you can follow trades posted by other traders, and post your own trades. Many brokers offer signals to traders with larger accounts. It is no surprise that the US never allowed it into their country, or that the EU as banned spot-style binary trading in its entirety, or that Israel, home to so many of the scams, has done the same. Other Forms of Social Trading, as I mentioned before, social trading could be said to go far beyond this form of copy trading. Out of all the forms of social trading, this one carries the most disadvantage.