Nowadays people know quite well, where they can find information about those, who are interesting for them. We mean, of course, social networks. Each of you is sure to have one or several profiles in social networks, isn't he? In CopyFX system, each Trader and Investor also have their "profiles", their cards. Today, we'd like to tell you about the information you can get by looking closer at the card of CopyFX Trader, and how you can use this information to increase your profit.
Study the informational component
The Trader's card consists of two parts: general informational part, which includes some basic information about the Trader, and more detailed information, such as different statistics. The first part tells you about the following indicators:
- The overall rating and unique name.
- The account number and type, as well as the type of Trader's commission. Percentage icon indicates "Trader on Profit", dollar icon – "Trader on Commission".
- The number of days since the registration. The longer the Trader trades, the better his statistics and stability can be analyzed and evaluated.
- The Trader's risk. The level of risk is determined automatically on the basis of the Trader's Profitability.
- The account balance.
- The account leverage. Remember, that the difference in leverage of Trader's and Investor's accounts can result in increase of risks when copying transactions.
- The number of subscribers to the account throughout its existence.
- The number of active subscribers. This number shows how many Investors are subscribed to the Trader's current offer.
- The profitability for all time.
- The maximum drawdown for all time. Pay attention to this number – the higher the drawdown, the higher the risk that the Trader can hit his number again.
Deeper into statistics
The second part of the Trader's card contains several tabs. We're going to study the information in them more carefully.
"Trader's profile" tab shows statistics for the Trader's transactions.
- The number and percentage of profitable transactions.
- The efficiency for open transactions in pips. This figure helps you to see if the Trader's is "in the black" or not.
- The average time of transactions.
- The efficiency in pips for the best, worst, and average transactions.
- The profitability chart for all time.
Can you make a decision to subscribe to the Trader's offer relying only on this data? You bet you can. Technically, to define how stable the Trader is, all you have to do is to look at his profitability chart over the last time. One should also pay attention to the maximum drawdown. The bigger this number, the higher the risk to subscribe to this Trader is.
If you think that the information presented in "Trader's profile" tab is not enough for making a decision to subscribe, let's move on. What else can help you to find out whether the Trader is successful or not? Surely, it's his detailed trading history.
"Trading history" tab shows you the table with detailed information about all operations performed by the Trader, including his account balance operations. You can track which transactions and instruments were the most and least profitable for the Trader, how often the Trader opens orders, etc. In other words, trading history is open and detailed statistics of the Trader's profitability, which helps you to estimate his success.
There are several charts in the Trader's card in the corresponding tab, which can help you to view the Trader's statistics in a more visual way. Each chart can be customized by means of the date filter. Would you like to view how the Trader's profit has changed, for example, over the last week? Or the ratio between the minimum and the maximum account equity and balance over the whole period of the Trader's activity? Or maybe you want to know how the value of the Maximum drawdown has changed over the period of the Trader's active offer?
All of these can be done with the help of the following charts:
As an addition to the line charts, there is a circle diagram for the traded currency pairs. Take a closer look, you might be attracted by the Trader who trades different currencies, or vice versa, the Trader who trades only one pair, but the most stable one.
Single currency pair stats
Several currency pairs stats
Subcribe to the offer? it's easy!
Let's suppose you've been impressed by the Trader so much that you want to subscribe to his account without any loss of time! In this case, you need to check if the Trader has any active offers and learn about the conditions of these offers.
All active offers of the Trader are displayed separately in blocks. Let's take a look at one of them.
- The offer number and period. By clicking on the offer number, you can view detailed statistics on profit of the Trader's subscribers.
- The total number of subscriber to the offer.
- The commission type of the Trader.
- The commission amount.
- The minimum deposit to subscribe to the offer.
- The risk of the offer. The level of the risk is defined by the Trader himself.
- The Trader's strategy. The Trader provides a short description of his strategy, but you can find more detailed description of it on the forum.
- The profitability of the offer (in %, pips, $).
- The total profit of the Investors subscribed to the offer.
Using the information presented in this block, you can more precisely determine whether this Trader is the best for you. The main things you should pay attention to are the following: the commission amount, the minimum deposit, and the total profit of the Investors. Sometimes Investors have doubts about the commission amount – is this offer worth the time and money? In such cases, the number that indicates the total profit of the Investors may help. The bigger this number, the more profitable the offer is.
In the block of the offer, which you can subscribe to, there is "Invest" button.
So what happens if you click it? There can be two possibilities:
- If you're not registered in CopyFX system or logged in, you will see the registration form of a new CopyFX Live Account and a trading account with the same parameters as the Trader's you're subscribing to.
- If you're registered in the system and logged in, you will be redirected to your Live Account, to the subscription form to the Trader's offer.
It's convenient, isn't it?
We've tried to tell you about all peculiarities and details, which are "hidden" in the Trader's card. Using this knowledge, you can make better decisions about subscribing to Traders' offer. CopyFX is constantly developing and improving, and trying to provide both Traders and Investors with more new opportunities to achieve success. Stay with us and remember: Invest wisely – copy the profit.