Social trading is a relatively new trend in the binary options market. It first appeared on Forex and has proven to be effective for all strengths and meetings, it is a way to provide the original way to work with the help of a professional community.
Unlike the usual social networks and forums, here is the broker’s internal platform where dealers can use the signals of other participants or completely copy their actions/transactions on their cards.
This method of using assets has not yet received a clear positive assessment, but it is certainly useful in various situations. I will immediately note that the disadvantage of this service is that zero knowledge of the transaction is not sufficient to select the source of the copied transaction.
WHAT IS SOCIAL TRADE?
“Sotsialka” first appeared on Forex and was quickly welcomed, especially among beginners who not only had the opportunity to oversee the success of more experienced traders but also used their intellectual results.
This has led some inexperienced participants to blindly imitate the strategies of others and does not even know how to evaluate and choose effective systems. As a result, opinions on social trade differ in the market. Risk can indeed be greatly reduced by carefully choosing the strategies for copying transactions.
SOCIAL TRADING ON POCKET OPTION
Binary options appeared to be “social” in the second wave of currency popularity but immediately appeared in their full form without the downside of the first batch of currency versions.
Although most traders find it useful to copy bets only automatically, this tool is more likely. For example, with social trading in Pocket Option you can:
- Number of successful events and transactions
- Trade and profits
- Lowest and maximum bids
- Number of commercial customers according to the merchant
Also, if you observe the trades of a successful trader, you can learn from his experience and learn how to trade. It will be fun for beginners.
All of these elements allow users to make choices based on objective indicators of players’ abilities and success rather than blindly copying the first transaction they encounter. If you still not ready to trust it, you can check more features at https://www.trusted-broker-reviews.com/pocket-option/ and take your decision.
Other Social Trading Sites
If we consider the tool not only in Pocket Option for social commerce but also in the entire binary options market, we can distinguish between the following types of user interactions:
Chat Rooms and Forums
Such “social” is not very common, but is used on some platforms, allowing merchants to communicate professional topics online. Also, each other’s accounts are open to participants, enabling the CVs of the contacts to be verified, their experience in the market, the number of successful transactions, etc.
Say Thanks to this communication format you can understand the ins and outs of different assets, the ability to interact with brokers, the nuances of working in the terminal, etc. A good forum should have hundreds of thousands of active users from all over the world, which will provide a good opportunity to locate traders in a professional environment;
This simplest “social network” can be seen as “majority opinion” – available on many platforms. Usually, it is close to the UP and DOWN keys (more information on top to bottom transactions). This indicator allows dealers to understand the percentage of sellers and buyers. Of course, this is the simplest type of social signal with limited information, but there are also separate indicators. It is used on certain platforms and each trader owns it, allowing other participants to monitor their signals for specific assets. These tools are more specific than most people’s abstract opinions and allow you to independently select opinion members and focus on their profitability;
Trade in flexible conflicts can be attributed to the means of social trade, but because it is created for specific situations and assets, they are only distributed in the business environment and are worth mentioning. When the program is changed as needed, the specified operating procedure is activated and it is not necessary to monitor all signals independently. The tool is used sparingly because robots are “privileged” for specific market conditions.
“Sotsialka” is still a relatively young tool in the market, forcing users to evaluate other people’s strategies. Its features are not limited to simple replication, but also allow merchants to communicate, develop and monitor market leaders in a professional environment. These services are still rare, but the Pocket option already allows them. Read Pocket Option review to learn more.
Social trading with options is an example of a popular and developed tool that can be used to trade binary options. Not only for beginners but also for traders who already have knowledge and experience.