are not trading Forex manually but instead they trade via the use of an automated
system (copier or Robot). You can learn about automated scalping systems in the
Chapter-7 of this eBook.
Keep in mind that usually scalpers trade exclusively three currency pairs. The reason
is that these 3 pairs enjoy high liquidity and therefore minimal transaction cost:
i) Euro against the US Dollar (EUR/USD)
ii) British Pound against the US Dollar (GBPUSD)
iii) US Dollar against the Japanese Yen (USD/JPY)
6. Copy Traders / Social Traders
WHAT THEY DO?
Following (copying) the trading activity of other traders. This procedure is also called
as Social Trading (nothing to do with common Social Media).
REQUIREMENTS:
Social trading is booming nowadays. In order to make money from this type of
trading you need a social trading platform, for example ZuluTrade and MirrorTrader.
Social trading platforms are again free to download and to use.
► The ZuluTrade Platform
Furthermore you need good technology too, but most importantly you need an
excellent instinct to select the perfect signal provider. All social trading platforms
offer the chance of monitoring the past performance of any signal provider. You can
also compare providers based on your criteria.
Forex Guide v1.0 – Qexpert.com
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