Brett Cooper - Copy Trading Forex Trader
My name is Brett Cooper, founder of How To Copy Trade Forex.
I help current and future forex traders to learn the safest ways to find and choose forex copy signal providers that have the best chance of making a profit.
What Bought me to Start This Website
I have been studying financial strategies since I was 18 years old to try and make a better life myself and my then future family. I'm 46 years old and live with my wonderful wife and my gorgeous 3 year old daughter in Melbourne Australia.
Over the years I have studied and tried all sorts of different ways to make my money work harder. I have a book shelf full of books from dozens of different authors. Everyone from Robert T. Kiysaki right to put Raymond A. Merryman's book of "Basics Principles of Geocosmic Studies for Financial Market Timings"
The picture below is just a sample of the books I still own, most of them I have either moved on after reading or are stored in a box in the shed.
With the help of a trading coach I finally began trading for myself after years of reading and dreaming in 2001.
For the next 8 years I traded everything from Gold to currency to stocks. But mostly is was the Aussie 200 index with CFD's.
I was a very disciplined trader never placing a trade without a stop loss order, this way I kept my loses to a minimum. But I never really made much either, add in the money I spent on coaching and books for my continual education I was very much out of pocket. Plus while I was trading I wasn't out doing my day job.
So after 8 years and my wife and I wanting to start a family, I put aside the trading and got stuck back into my day job.
Then in late 2012 a friend of mine who knew I used to trade forex put me onto Forex Copy Trading. I had never heard of it till then.
WOW what an eye opener!
Having a professional trader trade your account for you.
But once I started to join up to these sites and looked a little closer to what some of the Signal providers claimed their returns where, some alarm bells started to ring in my head.
Have you ever heard the old saying "When it seems to good to be true it usually is?"
So after some research and playing with demo accounts I realised it most of the returns they say there where making was too good to be true. BUT there where some signal provider trying to do the right thing and where not out there just to make a quick buck of unsuspecting traders with dollar signs in their eyes.
They weren't easy to find straight up, so I went back to what I knew and what I had learned when I was trading for myself. Using the knowledge that had taken me years to accumulate I started to work on a set off criteria I could use to judge the signal providers trying their best from the ones not trying so hard.
It did take me a few months of trial and error but finally I came up with a set of criteria that I was confident in using. Now please don't get me wrong nothing is a given in the world of Forex Trading. Even with this criteria you still have to have your whits about you and keep educating your self in Currency trading.
But it will give you a head start and help you sort the wheat from the chaff.
Asif Imtaiz - Financial Analyst
This site wouldn't be what it is with out the valuable article from Asif Imtiaz.
Asif has worked as a professional trader since 2005, and later he managed trading operations for one of the largest foreign exchange strategy developers in Europe.
As a financial writer, he has written hundreds of financial analysis, reports, and articles. He has covered varied subjects on stocks (equities), Forex, binary options, and cryptocurrencies over the years for syndicated publications and blogs including reviews, market commentary, and periodic analysis.
He currently trades his own funds based on a proprietary system that combines global macro and "naked" technical analysis. He also regularly contributes his analysis on the global economy to several portals and works as a consultant to a handful of brokers.
7 Things you need to know before you start being a Copy Trading Forex Trader:
1. How do the signal providers make their Money.
In most cases they get their commission even if the trade looses.
2. Know who you are following.
Always read reviews and ask questions of your signal provider.
3. You Need to Know about Forex Trading - Keep educating your self, never stop the more you know the better your chance of winning are.
4. Not all Copy Trading Platforms are the same.
5. Understand why and how your traders are making their decisions. This again comes back to education.
6. Read between the lines. This is where having a good set of criteria can help.
7. You can't just set it and forget it. You need to keep an eye them and make sure they stick to their trading plan.
For more information on what you need to know about Copy Trading check out this great Article.