Ayondo social trading
You will learn about the following concepts
- Tips for trading at Ayondo
- Career level and real money traders
- Always look for open trades
Even though Ayondo is not among the giants in the field, it’s still a great platform for forex, equities and commodities social trading. The number of users drawn to Ayondo’s allure is growing exponentially. Although it will not soon reach the top where the titans reside, you can be sure that this is not the last time you’re hearing about Ayondo. Here are some tips you may find useful.
Advanced tips
The beauty of social trading is that all the good platforms offer you the unique opportunity to try out your skills and understanding of the market with virtual currency. This means that you can trade, but you do not risk any of your real money. Sadly, this also means that you will not be able to reap any eventual profits, but that is to be expected considering the lack of risk. Always utilise this option – whether it is for trying out a trader or a new system you have devised, the benefits of running simulations to see how well it goes are beyond obvious.
Take your time
Always spend plenty of time evaluating traders. Ayondo’s community is truly the selling point of the platform, and indeed there are many good traders who have decided to use it, but this does not mean that you are guaranteed to win. Use graphs, follower counts and everything else at your disposal, and choose carefully. It is very important to note that the number of followers will include both live and demo account followers. This is a huge blunder on the part of Ayondo, in our opinion, but that is how things are (at least for now). This means that you need to be even more careful. On many other platforms, the number of followers would be one of your top indicators, and even though it still carries some weight here, it should not be the main reason you decide to follow someone.
Career level
The graphs, on the other hand, are a much better indicator of a trader’s overall performance, so you should pay special attention to them. Another great, more unique indicator on Ayondo is the career level each trader has. It is calculated by taking into account both risk and performance, so it is a fairly accurate representation of what the trader has done so far and how successful they have been.
Follow experienced traders
Once again, we urge you to follow mostly experienced traders. This does not lead to any guarantees, of course, but it is a good start. Experienced traders have been tested far more than new ones, and so they are much easier to evaluate based on their performance.
Real money traders
Not all of the most successful traders use their own money in their trades. This is a form of cheating, but hey, what can we do? It is important to know this, though, because it is much easier to risk virtual money than your own cash. This means that you can make a killing in many of the trades you are entering simply because you do not care about the risk. Luckily, this time Ayondo did not screw up – you can actually see whether a trader uses their own money. There is a golden ‘R’ badge on the trader’s profile. If you want to be sure that the trader you are following is a real-money trader, look for that badge.
Risk management
Once you create your account, risk measurements such as MAR and Sharpe ratios begin immediately. This means that, when looking at these indicators, we have to consider how long the trader has been in the game. For more experienced traders, these values are more stable and ensure that what we see on the graph reflects the trader’s actual risk-taking. In the case of newer traders, this may not be the case.
Always look at open trades
This is true on every other platform as well, but especially on Ayondo, since the community is much smaller. It is important to look at open trades. Sometimes traders will not close open trades and they will remain on their profiles. This is a perfect way to improve your stats and enter the top trades. Because the community is smaller, many of the traders who are in the top list might actually be applying this trick. To make sure they are not doing this, you need to check their profiles carefully and see what you can find there. If there are lots of open trades, do not follow. If there are not many open trades, you are one step closer to finding what you were looking for.
Final words
Ayondo is a great, welcoming platform that allows new traders to connect with much more experienced ones. Even though the community is still rather small, it is growing quickly and features some of the most experienced traders available. The platform is simply superb. It is much better for newer traders than ZuluTrade is, although it is not as good as eToro. Still, it is very viable and you should definitely give it a try if you want to become a trader. Just be careful whom you are following and why. Do not always trust the numbers.