Regina, SK Canada (PressExposure) February 21, 2012 -- Forex - it's the market that everybody wants a part of. Since you're here, you must be interested as well. But there are other ways to make money trading on Forex besides just making money trading on Forex, if you catch my drift. Why not sell your trading signals too? One of the easiest ways to do this is with an account copier.
WHAT IS AN ACCOUNT COPIER?
Forex account copiers allow you to copy your trades to the accounts of as many people as you'd like. You can sell these signals for a percentage of the profit that other people make by using them.
HOW DOES THE SOFTWARE WORK?
A Metatrader 4 or MT4 account copier works by allowing one terminal to control the trades of another terminal or terminals - "master" and "slaves." It then runs an expert advisor on the master terminal, logging and copying your trades, then sending a signal to a different expert advisor on the slave terminals, which processes those signals and makes the same trades for those accounts. This is done nearly instantaneously over the internet - the slaves trade at just about the same time as the master.
Money, that's the benefit. If you have a successful strategy you won't be able to keep up with all of the people willing to pay you to get in on it. Since you can sell those signals for a percentage of the money that your clients are making with them, the risk to you is nil, and the risk to them is minimal since they're not paying out of pocket. So long as you can prove your strategy is a winning one, people will take that risk.
As soon as you set up your Forex account, be sure to register it with a reputable third-party monitoring site. Your potential clients will be able to see how well your strategy has worked. Another way is to give your potential clients investor access to your actual live account. They can actually log in to your broker account this way. They won't be able to trade with it, but they can see your graphs and history.
ACCOUNT COPIERS AND AUTOMATED TRADING SOFTWARE
Copying manual trades isn't all you can do. If you have an automated trading system that is consistently making money, you can use it in tandem with your account copier so that your robot's trades get copied to your investors' accounts. If done properly, you can have a fully automated business where you hardly even have to monitor your account, and make money both through your trading robot and through the signals you sell of its trades.
ACCOUNT COPIERS ONLINE
Forex forums are a good place to look. There is no lack of traders on them who can't wait to let you know which are the good copiers, and which are the crappy ones. Now get out there, do some research, and start selling signals!