When there is no time to comprehend all the secrets of trading and study the nuances of the functioning of the stock market, services for autocopying someone else’s trading strategy come to the aid of novice traders. Let’s talk about one of these platforms – the SpyStream – today.
About the service
SpyStream is a copy trading platform that allows you to copy the trading strategy of experienced traders. SpyStream was launched in the beginning of 2021 and currently hosts over a hundred different strategies available for auto-following on the platform. You can connect an unlimited number of strategies to each trading account. The main thing is to track the availability of the required amount in the deposit account. Otherwise, some transactions may not be available due to lack of funds. Only users of the MetaTrader 5 trading terminal can connect to other people’s strategies using SpyStream, the service is not available for other trading platforms yet.
SpyStream features
• SpyStream allows you to become a trading signal provider and receive additional income from commission fees from your strategy’s subscribers. Managing traders independently set the cost of subscribing to their trading signals. Some strategies are available for as little as a dollar per month, others can cost as much as fifty. However, the average remuneration for a managing trader is $ 5 montly.
• The main purpose of SpyStream is to autocopy the strategy of more experienced traders by making identical deals based on the trading signals of the managing trader. A trader can completely copy someone else’s strategy, or adjust it in his trading terminal. In addition to closing individual positions on your own, you can place stop orders that will automatically close unprofitable positions copied from the managing trader. This will reduce the risk of account drawdown and will not allow you to completely lose your deposit.
• Analytics. In addition to the analytical materials provided by the service, the authors of trading strategies also post their own analytical reviews and forecasts. This allows novice traders to visually observe what the trading methodology the trading strategy of experienced traders is based on.
Advantages and disadvantages of the service
Among the advantages of SpyStream are:
• Large selection of portfolio strategies and managing traders;
• Low entry threshold and no hidden fees;
• Availability of analytics and expert materials;
• Low commissions for subscribing to receiving trading signals;
• Possibility to connect an unlimited number of strategies to one trading account.
The disadvantages include:
• Lack of information about registration and the company-developer of the service;
• Integration with only one MetaTrader 5 trading terminal;
• Long process of solving technical issues;
• Lack of selection of managing traders. Some strategies can be ineffective.
Conclusion
SpyStream is a multi-market platform that allows you to copy transactions with both basic assets and exotic instruments traded using the MetaTrader 5 trading terminal. In addition to social trading capabilities, SpyStream users get access to up-to-date analytics, including analytical and methodological materials from the authors of strategies posted on the platform.
This is a form of social trading, you know. You are suggested to track trading behavior of other members of this online society which can be considered as expert traders and gain from their success. That’s almost the same you can find within the other platforms of that kind. The activity requires little of efforts and knowledge (though, there should be some skills to choose the right strategy).
Here you can count on detailed statistics with all reasons to choose a solution. You can read the information you need about a successful strategy. There is even a risk rating which helps to understand probability of a loss… so, you have all tools at your disposal to make money in such a simple way! They offer nice customization – and that is a good option.
Investing in financial markets requires skills and special knowledge. I do not have spare time to research the news events which influence industries and companies. I cannot read analytics reports and charts. But I do want to get returns and that is why I follow the experts understanding trends. There are lots of them on the SpyStream platform. Here a copy trading is efficient and very easy. I can identify a successful trader, find the strategy with needed equity, proper management fees, with a particular composition… Functionality is nice, very nice.
The functionality is not the only advantage. There are hundreds of strategies here! You can be really lost with all their content! And you can stick the values choosing a portfolio matching your goals perfectly! There are tailored investment options in addition. And what is important is that the ideas are provided by people here. You can consider this as a virtue or as a drawback, but I believe that this is much better compared to trading robots because only a human expert can evaluate the current market. IMHO.
I can prove the efficiency of this platform. I earn an additional income providing access to my trading strategies. In general it looks like a true social media with features for interaction with other members of SpyStream, join open discussions, and ask questions. It is possible to post any updates, share posts and leave comment.
Listen, nobody can tell me what is relationship between profit and risk in numbers. I mean when you are investing in various strategies, they say high return high risk. Ok, I do not understand how to get the right balance. I am not looking for immediate big payouts but still I’ll be glad to get the high return without accepting a high level of risk. That is the reason for me to apply copy trading. SpyStream allows me to shift responsibility onto more experienced investors. And you know what? That is a wise decision. I do not monitor the market and get nervous about the choice. Just follow the successful participants of the platform and gain.
Copy trading is changing the market little by little. Now everybody with basic knowledge can gain from investment using the particular platforms focused on copying of the deals. SpyStream is one of the best services of the kind. They offer tons of strategies with various levels of risk. It is popular worldwide that is why there are a lot of users involved. I’ve been using the platform only for several months, but can appreciate its efficiency. It is really good. Here in accordance with rating I can see the leaders (generating more profitable ideas), track their activity during some time and follow those who seem more reliable. The platform is very simple to use with intuitive navigation, flexible settings, and some useful options like analytical review of the authors of the strategies…
It is cool to learn how other skilled traders invest. The platform is rather intuitive. I am suggested to apply various methods to discover the successful traders which may match my investing needs. First I check out the range and choose the one. To facilitate the search they offer some tools and filters.
I prefer social trading because of diversity it offers. You are free to choose any trade under your own terms. The restrictions are only connected with the assortment. You are expected to find the strategy suiting your request and perform simple actions to copy them. Of course, you will not be able to guarantee outcomes of trading but still the chances to gain are high..
I use this platform because of a nice search system which includes a range of filters. I can choose the trade in accordance with an amount of the deal, terms and other parameters. This is a very convenient option as far as I can speed up the process and get more accurate result focusing on the trades suiting my requirements.
There are so many options which are able to facilitate social trading and make it more efficient. There is a search system allowing me to find a deal I can be interested in. The site is developed very well. Everything is within reach and there is no need in any guide to find the information.
SpyStream is good. There are a lot of worthy strategies here. However, you should not trust in signal providers without reasoning. For instance, last month I lost with Noël Laberge on 13/06 this year. He is nice, but the deal was not well thought out I suppose.
Pierre-Marie Fleury is quite good here. The trades are executed with currency pairs commonly. But the management fee is $7 per MIO. This it too high……
I like to use this platform as they offer filters to narrow the search of strategies. I can set risk score, amount of management fee and of equity, and define a composition.
Completely agree with you!SS works without interruptions and technical problems. You can be sure that you will not get into trouble and delays with them. I’ve been here since 2018, inviting other users to join my strategy. My passion for mathematics allows me to succeed
I do not know way but this strategy (Classic by Noël Laberge) shows just 68% of profitability of trades. However, the assets are really cool. It includes the stocks of BMW, Apple, Horizon Pharma, Tesla, Insight Enterprises, and something else. Large companies with legendary brands which are still successful regardless of anything. Now I have open position. Securities of Aecom Technology have already brought me about $4 per a share. The forecast is about 20. So, I hope for nice income soon.
Strategy Rover by Pierre-Marie Fleury is worth of your attention. Recommend it. Probably, it is not flawless, but still it has good profitability (85%). The trade instruments are the currency pairs In April during three days I earned a thousand dollars. It is nice. However further deals brought much less but still the outcome is positive.
Spy Stream allows social trading with any user you like. I change strategies all the time considering members’ funds the provider show. Recently I liked the trades of Noël Laberge but this performance decreases and I look for someone else who is more popular