I am confused how to trade this...
Can social trading still help someone who is new to the market?
Yes, social trading can help beginners learn how experienced traders approach the market. However, avoid copying trades blindly. Review the trader’s history, risk level, drawdown, and consistency before following them.Start with a demo account or a small amount, and always use proper risk management.All the best!
Yes, I think social trading can be useful for someone new to the market, but I’d treat it more as a learning tool than a substitute for learning how markets work.
Following an experienced trader can expose a beginner to position sizing, entries, exits, risk management, and how different market conditions affect a strategy. The danger is assuming that because someone has a strong track record, every trade they take will work.
There’s also a psychological side. Watching a trader take a loss is very different from experiencing that loss with your own money.
I’ve been experimenting using the economic calendar. When a scheduled event is released, the bot passes the actual figure, along with the forecast and the previous number, to an AI model. The model analyzes the result in context base on current economic events and returns a sentiment as positive/negative/neutral.
If you’re interested, details in my bio. I’d welcome any feedback.
No, it is the worst
