Social Trading Platforms evaulation

[theKryptoGuy]

Guys, I just read this https://cryptoticker.io/en/best-social-trading-platforms-crypto/. I just want to know how does these platforms select and rank top-performing traders? What metrics do they use to evaluate their performance? and how do these platforms handle risk management for traders and investors? Do they offer tools like stop-loss orders, margin requirements, or position limits? I am confused. Please guide me here. Thank you.

[Oshosondy]

Instead of looking for copy trading, I will advice you to learn how to trade yourself and not only go more than forums that you people will only just discuss about trading, and be careful of scammers.

I just want to know how does these platforms select and rank top-performing traders?

The one I know little about among them is copy trading and being a lead trader. Those that do not know how to trade are the copy traders, which are traders that are copying trading from the lead traders. The lead traders are the professional traders that other traders are copying from them. The organization have their trading history and do not just accept any trader to be a lead trader, they take people that meet their requirements. Example is TradingWagon on Binance that can provide this kind of service, they have all your trading history.

The exchange have your trading history and the ranking is based on return on interest percentage (ROI%) over certain period of time like daily, weekly or monthly. The person that have the highest percentage of ROI will be the first, follow by the next person with the second highest ROI% and follow by the next.

What metrics do they use to evaluate their performance?

Like I said, they use ROI%

and how do these platforms handle risk management for traders and investors?

They do not handle anything for you than you to handle it yourself, to use a low leverage and not using more than the amount you can afford to lose to trade because being a lead trader does not mean 100% perfection, a lead trader can also lose and the leverage both of you used can be different is another thing. What is most important about copy trading is that when the lead trader open a position, it automatically opens the same position for copy traders that are following him.

Do they offer tools like stop-loss orders, margin requirements, or position limits? I am confused.

Yes, you can set your own stop lose, and do other things you can do when trading, just that you trade can automatically be opened. Even you can decide to close your position at anytime if you have gained.

Read the link that you provided very well.

[blockman]

Basically, it's all about their performance through their gains and losses and the metrics depend if it's on a 24-hour trade basis or if it's a week. But AFAIK, it's gotta be both of them which can be set by anyone who's looking for the top-performing traders.

and how do these platforms handle risk management for traders and investors?

It should be the users that should handle risk management and not the platform itself.

Do they offer tools like stop-loss orders, margin requirements, or position limits?

Most likely with these platforms like copy trading platforms and others that have been mentioned on the article, yes, they do offer stop loss and for you to know more about them, you should start using any of them.

[gunhell16]

Guys, I just read this https://cryptoticker.io/en/best-social-trading-platforms-crypto/. I just want to know how does these platforms select and rank top-performing traders? What metrics do they use to evaluate their performance? and how do these platforms handle risk management for traders and investors? Do they offer tools like stop-loss orders, margin requirements, or position limits? I am confused. Please guide me here. Thank you.

You know OP it's still better to learn to trade on your strategies, especially to practice it on any crypto exchange here in this industry.

Then you should also exercise your caution when it comes to such things that you do because there are also many exploitative people here. Try to start with a small amount of trading and make yourself practice little by little and you will see as you do that you will learn. It's different because you naturally learned and understood cryptocurrency trading.

[theKryptoGuy]

Instead of looking for copy trading, I will advice you to learn how to trade yourself and not only go more than forums that you people will only just discuss about trading, and be careful of scammers.

I just want to know how does these platforms select and rank top-performing traders?

The one I know little about among them is copy trading and being a lead trader. Those that do not know how to trade are the copy traders, which are traders that are copying trading from the lead traders. The lead traders are the professional traders that other traders are copying from them. The organization have their trading history and do not just accept any trader to be a lead trader, they take people that meet their requirements. Example is TradingWagon on Binance that can provide this kind of service, they have all your trading history.

The exchange have your trading history and the ranking is based on return on interest percentage (ROI%) over certain period of time like daily, weekly or monthly. The person that have the highest percentage of ROI will be the first, follow by the next person with the second highest ROI% and follow by the next.

What metrics do they use to evaluate their performance?

Like I said, they use ROI%

and how do these platforms handle risk management for traders and investors?

They do not handle anything for you than you to handle it yourself, to use a low leverage and not using more than the amount you can afford to lose to trade because being a lead trader does not mean 100% perfection, a lead trader can also lose and the leverage both of you used can be different is another thing. What is most important about copy trading is that when the lead trader open a position, it automatically opens the same position for copy traders that are following him.

Do they offer tools like stop-loss orders, margin requirements, or position limits? I am confused.

Yes, you can set your own stop lose, and do other things you can do when trading, just that you trade can automatically be opened. Even you can decide to close your position at anytime if you have gained.

Read the link that you provided very well.

Man, thank you so much for this valuable information.

[theKryptoGuy]

Guys, I just read this https://cryptoticker.io/en/best-social-trading-platforms-crypto/. I just want to know how does these platforms select and rank top-performing traders? What metrics do they use to evaluate their performance? and how do these platforms handle risk management for traders and investors? Do they offer tools like stop-loss orders, margin requirements, or position limits? I am confused. Please guide me here. Thank you.

You know OP it's still better to learn to trade on your strategies, especially to practice it on any crypto exchange here in this industry.

Then you should also exercise your caution when it comes to such things that you do because there are also many exploitative people here. Try to start with a small amount of trading and make yourself practice little by little and you will see as you do that you will learn. It's different because you naturally learned and understood cryptocurrency trading.

Yeah, you are right. You know, sometimes I feel like this is the right time for me to learn all these things and trade crypto. Am I late? and now I'm trying to work on my financial literacy. Once again thank you for the advice. Have a great week!

[palle11]

Yeah, you are right. You know, sometimes I feel like this is the right time for me to learn all these things and trade crypto. Am I late? and now I'm trying to work on my financial literacy. Once again thank you for the advice. Have a great week!

Learning is the right thing to do and if you have passion you will succeed no matter the challenges of losing. Remember losing is part of the trade but you lose less and gain more for you to be on top. Doing copy trading and relying on someone's may not help you on a long run because no trader is perfect, so making your own mistakes is better. There is no time that is late to learn trading. Good luck on it.

[maydna]

No need to be surprised to see them say that it is the best platform out there because that is their assessment. We also don't know if they use it or it is a paid review.

It's better for you to forget about platforms like that, learn to trade using the manual method, and learn to analyze so that you don't depend on any tools and only on yourself. It is much better because you have the opportunity to improve your trading skills than other people and it can also allow you to earn bigger profits.

[so98nn]

Good lessons from this thread. Both auto trading and self learning got mixed up here and I don’t know but I think it’s always better to learn and then trade seems to be taking the highest weightage right now. I have always seen the traders who go for copy trading come up with loses because they can copy the trade or methods but they can’t copy the skills that other traders posses. Moreover, just having tools on exchanger is not really important. The greed can disturb it all and make them useless. Better have excellent knowledge in the trading before jumping in.

[goaldigger]

They have their own standards on doing such ratings and we will never know why they have that not until you try the platform on your own but of course there’s a risk for this since that review is not guaranteed. I agree on a suggestion here about doing your trades on your own and learning the normal process instead of paying someone just to get a signal. Trading can be very risky if you don’t know what you are doing so its really advisable to know at least the basic rules before you make a decisions, you might be more interested in trading once you realized that you can be more profitable on your own.

[dansus021]

the evaluation of each website is different I think, and it uses a lot of factors most of the platforms is using indicators like

• 30Dy ROI or Overall ROI usually in a percentage
• PNL or Profit and Loses
• WinRate
• MDD or Maximum Drawdown

[jaberwock]

They have their own standards on doing such ratings and we will never know why they have that not until you try the platform on your own but of course there’s a risk for this since that review is not guaranteed. I agree on a suggestion here about doing your trades on your own and learning the normal process instead of paying someone just to get a signal. Trading can be very risky if you don’t know what you are doing so its really advisable to know at least the basic rules before you make a decisions, you might be more interested in trading once you realized that you can be more profitable on your own.

They choose it maybe because they are benefiting with it? Like they are earning a commission once other people pick and pay to copy the strategies that they featured. Same with what we have on most gambling review sites but we must be careful because most of the times they can be biased and push some traders even though they are not good enough and there are better known traders than them but of course we don't know it because we still lack of experience and knowledge, that is why we depend on them in the first place.

The problem with most of us is we are only interested on the profit or on the money making part but not in the learning part. We just find it very boring and can be a waste of time.

[hugeblack]

Each platform differs from other platforms in the mechanism of work and how to choose the best trader. Some of them may ignore hidden fees from them, and some depend on the number of those who copy a file. Others depend on YouTube promotion and other methods. Most importantly, does the best trader mean sure profit? of course not.

[FUCKBSVFUCK]

Social trading platforms are very different. 
 
They usually pay a certain price to the platform while its for the trader and they also make an profit as well. 
 
What indicators are they use to evaluate their performance? 
 
I mean like the price and the volatility, and I mean its a very small market and that it's not a one-time investment. 
 
So you're basically investing in your favourite platform? Maybe the price, and its volatility. 
 
I know that there is a lot of investment tools ich it is not really an investment tool but also in crypto currency where some do really have a good experience with different platforms.