As mentioned above, there can be manual and automated signal providers. Manual signal providers can be professional and/or seasoned traders, market analysts and strategy providers.
They generate trading signals based on their trading knowledge, experience, fundamental and/or technical analysis skill or their developed strategy. On the other hand, automated signal providers are computer software that are coded to generate trading instructions when certain set parameters or conditions are met in the market.
Automated signal providers, such as Expert Advisors (EAs) and other types of trading bots, mostly apply technical analysis methods that rely on mathematical predictive indicators, such as Moving Averages, Fibonacci levels and Stochastics. There are a few that may be designed to implement fundamental analysis techniques, such as tracking economic news releases and market sentiment.
Depending on your trading needs, you may be served by either manual or automated signal providers, or even both. Ava Trade has agreements with third-party providers to deliver trading signals free-of-charge to traders daily and weekly in the form of market commentary and analysis. Anyone with an MT4 or MT5 platform can access and subscribe to any signals provider on the page.
Integrated Development Environment allows virtually anyone to become a signal provider, but there are many functions to ensure you can subscribe to a provider suitable for your trading needs. The community evaluates the verified trading results of all signals providers and rates them accordingly. There are various sorting and filtering possibilities to allow every trader to select their preferred signals provider according to their percentage growth, maximum and minimum drawdown, as well as manual or algorithmic trading. For further utility, the Integrated Development Environment (IDE), will display a warning sign on any signals provider that is yet to deliver an acceptable number of signals to determine trading quality or a new provider whose results may be of a random nature. All our traders can subscribe to any signals provider of their choice and copy their trades automatically in their trading accounts.
Forex Trading Signals in Copy Trading Forex trading signals were the precursor of copy trading. With forex signals, traders can decide whether to execute a trade suggestion or not, while with copy trading, a trader essentially mirrors the trades of a successful trader in their own trading account. Copy trading is automated: you select a trader, and their positions will be mirrored in your trading account.
There are, of course, variations where you can customise the trade size, assets as well as stop loss and take profit orders.
Copy trading is a valuable trading method that allows traders to earn profits from the market, even with limited trading knowledge. It also helps traders free their time as well as diversify their overall trading portfolio. Furthermore, it allows traders to choose a trading style that suits their risk tolerance and matches their trading goals. At Ava Trade, traders can implement social trading strategies powered by both Zulu Trade and Dupli Trade, two of the best copy trading platforms that boast the largest communities of traders in the world.
The platforms feature cutting-edge technologies that guarantee auto-mirroring of trade positions without human intervention. They are also user-friendly, rank only the best performers and are feature-packed with handy tools for risk management.