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3. How to pick the best master trader to avoid losing money
Ready to start copytrading? Before you strat, you need to know WHO you want to copytrade in this lesson you will learn how to pick the best master trader so that you can avoid losing money!“can i use the app to pick a master trader?”
I recommend using the website. The website makes it easier to study the master traders and pick the best one. There is more info on the websire compared to the app.
You can use the app AFTER you have started copying a master trader. The app is easier to use for monitoring floating, profit and loss.
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Best Master Trade Checklist:Step 1: Ask yourself “How much am I willing to invest?”
– Do not invest more than you are willing to lose
– Most people like to start with the minimum investment (25USD). But in my experience, 25USD is very high risk because there is no room for error. One mistake from the master trader can blow your account
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Step 2: Find a master that has the same amount of equity (or smaller) than the amount you want to invest
Refer to the checklist below before copying a master trader 
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✓ Copy with the same equity as the master trader. Do not copy based on the minimum investment.
✓ Copy a master that has the same or smaller equity than the amount you want to invest
Do not copy a master that has an equity that is bigger than yours
It is better if the master resets their equity every week. Every week the master should reset their equity to the original minimum investment that they use.
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✓ Minimum 14 days of trade. The more the better
✓ Don’t be fooled by the graph
The graph can be faked. Some masters will cheat and hold their trades for a long time to avoid showing losses on their graph. These masters only care about what their performace graph looks like. But when they hold their trades for long durations without closing, many their copiers will MC because they do not have enough equity to support these open orders.
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✓ ZERO floating
Copy a master that does not hold losing trades for long periods of time. It is better to cut loss fast before the floating becomes too big
✓ More profit (green) compared to loss (red)
✓ More withdrawals compared to deposits
Check the masters “Balance operations” to make sure the master has more withdrawals compared to deposits
✓ More withdrawals means that the master is always withdrawing profit
✓ More deposits means that the master is losing money and needs to keep depositing more equity to top up his account
✓ Finally, ask yourself “Am I confident with this master?” If you feel confident, you can start copying! If not, find another master trader There are a lot more master traders to choose from ✓ If you are too confused or lazy to find a master trader to copy by yourself, just copy the master traders that I recommend in the master trader list |
Click below for the next step
