Generate revenue
One of the most enticing aspects of social trading is further revenue generation.
If a trader can demonstrate good performance, then he or she will naturally start to get interest from those seeking to follow other traders and therefor increase their revenue stream by others copying their trades.
Scale with minimum capital
A competent trader may not have the capital they need to be able to make the money that they want. Social trading provides a means to scale their ability to trade, making money from both their own trading capital and that of the incentives for attracting followers. The more followers a lead trader has, the more they revenue they generate.
There are even social trading providers that allow traders to use a demo account to be a lead trader, meaning that someone may not even have to put down any capital themselves and can make money trading.
Build your brand and reputation
You can build your reputation and create your own personal brand through social trading. If you perform well, you will likely receive positive online coverage that will help build your credibility, which in turn can lead to more followers and increased revenue. The more you develop your online profile and build an online presence, the more revenue you can potentially make.
Engage with users
Engagement from the beginning is key to developing your brand and so blogging is another way to raise your profile. It can also provide you with an opportunity to discuss the ins and outs of different strategies.
At GCM you can complete your profile, write blog posts and participate in our community.
Educating potential followers
Answering questions and educating potential followers in the GCM forum can also be a good way of promoting your trading style and ability to trade.
In many cases, followers will not have the same depth of the knowledge or understanding of a particular strategy. Therefore, this approach could help boost followers while also helping others to develop their knowledge.
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