Don’t like a trader? TradeCrowd allows you to do the opposite
Recently launched social trading platform TradeCrowd is rolling out a fresh addition to its functionality. Have you ever found some really bad traders while browsing through social trading networks? Well now you can follow them and do the opposite. The feature is called Contra Copy and provides this innovative take on copy trading.
Why waste your time copying good traders with slow and steady, but not that substantial returns when you can actually achieve an even better return by reversing the trading decisions that the bad performers do. The outcome is as uncertain as before, since we never know when a trader’s bad fortune does finally desert him. Let’s see if this induces a race to the bottom
While it may prove to be a useful feature for some, it can also be rather confusing to follow one simply because you believe he/she is consistently making wrong trading decisions. After all you cannot be guaranteed that they will maintain this negative performance for a while. There are limits to negative performance – once the account balance is gone you will need to find another bad trader to follow.
The company’s CEO and co-founder Stefan Pajkovic has announced the introduction of another feature named Light Signup. It permits users to explore the platform’s features without depositing funds, but instead signing up through a number of social networks.
As part of the ongoing upgrading effort the company is adding new forex pairs and commodities which were previously unavailable and aims at bringing more traders to TradeCrowd.
For the full press release by the company click here.