Bitcoin Forum

Hi guys, I just saw this thread "advertising" the 1broker copy trade option. It seems like a good idea for someone like me, that does not know much about trading. I know the concept and I did something similar in sports betting, by using betting exchanges and make some profit by buying and selling my bets. The thing is I know a few things about sports, but I don't know anything about financial markets.

I used to trade on betfair, but it's no longer available for my country, and the bitcoin options are just not good enough right now for me.

I'm considering getting back into trading and I saw this copy trade thing. Is it good, have any of your tried? Is it only available on 1broker, or do you recommend more sites with this options?

Thanks in advance.

I've seen this add about trading and copying someone eases trading style or strategy. I haven't tried but for me I will not use that site for trading if you have a very minimal knowledge about financial markets. They may show you that this guy is making a lot of money and you will be tempted to copy his trading style but what if its only a scheme to lure people to use their site but in reality there is just a few of them out there using the site and they are just showing good stats.

In sports betting there's a lot of tools out there that one can use as a guide like team stats, personal profiles of the athlete but in financial markets its a different ball game.

Yes, that's why I enjoyed applying basic trading strategies in sports betting, but in financial trading I'm completely lost.
I don't know that site very well (1broker), that's why I was asking if it was trusty site, and if there where any other trustworthy sites with that copy option, because it sure seems tempting.

You said you would use that site for trading? Do you know or had any issues with it?

I think it depends on the father trader, who is trading on behalf of the others (and for himself too). One should consider past performance, current situations, risk profile and trade volume while copying the trades of others. It could prove profitable if everything went properly, so there is no harm in giving a try for a right father trader. This is my personal opinion, please do your own research before trading or copying any trades.

Look they have a thread here [ANN] 1Broker.com - Trade forex, indices, stocks and commodities (https://bitcointalk.org/index.php?topic=123492.0) and there's a user with the name 1Broker-CS (https://bitcointalk.org/index.php?action=profile;u=926229) look at the feedback of monbux at the profile of 1Broker-CS Profile (https://bitcointalk.org/index.php?action=profile;u=926229). Now i'm curious, what will happen if someone copies my trading style, do I get a commission from any successful trade from those who copied my trading style?

1Broker is a good broker, but haven't Metatrader.
About Copy trades, is a good idea but at same time is really risky (see user Snortex performace and you will understand: goo on 1Broker and search for this user)

you should forget about copy trading and leans how to trading profitably. What ever you want to learn about trading are free just google them and you will see torn of information. Copy trade is like giving a child fish instead of teaching him how to fish, that child will ever been on you for the remaining day of his life.

although copying good trades sounds good, I don't approve it, cause with enough followers it can be misused. Eg. Pump/Dump sheme and similiar.

good copy trade if support use meta trader
if can trade bitcoin and many altcoin the best placed fxopen and suport forex market too
until now iam not yet try trade in 1brokers, so i can't compare another broker

to be honest this doesn't sound like a good idea to me. but if you can start with a small amount of money and do it free of additional charges, and only if you try to learn the process not just mimic what that person is doing, then that can be a bit better.

also trading has some unpredictability associated with it which you need to know how to deal with that kind of situation.

Yes, the plan was to try to understand what he was doing. To be honest I read a few things about trading. Like I said I tried to apply the basics into sports. The problem are financial markets and coins etc. I don't know how to read the information and then decide where to go on the trade. I can do that in sports, either by seeing a live game, or by seeing pre-live stats etc, or combining both. But I can't d that on the other markets. That's why copy trade seemed like a good option to me, but I would still like to get some info on users that actually done it.

Right now from your opinions, it doesn't seem like anyone likes it.

Try eToro you can follow the best and most successful traders by viewing their profile and portfolio, however they are human as well and sometimes they can make mistakes and bad decisions but they are good for a reason and that is, they make less mistakes than others.
Bitcoin is available and oil, gold and all sorts of trading methods.

Copy trades would be good if you do know how to monitor your account even though its on automation because there are lots of instances where ea or robots do experienced bugs or even vps related problems because if we are talking about copy trades you will surely need vps on that because you wont able be online in front of your pc 24/5.

I don't agree with that because it's the same you put your fund with other people skill, not yours. Believe or not trade and loss with your skill is better than trade and win with other people skill. Why you not try with little money to trade with your strategy, maybe loss but it will bring you profit in the future. Need more time and hard work to trade with our strategy to win but it worth to try. I hope you understand what I am saying. Thank you very much.

Copy trading is good for a Newbie as he can follow the steps of an experienced trader and have a greater chance of getting profits in this way. But it should not be a habit nor it is 100% secure. Circumstances changes quite often in trading and if you are just copying the trades without applying your own mind, then sometimes you might be a at a big risk.

I think you can copy someone else strategy BUT, first establish the credibility of that person. There are good comments about him? Succeed in previous analysis? etc There are many factors to consider. Beware as the bitcoin continue to rise, so with altcoins, there are  people become a sudden expert in cryptocurrency trading and giving some Technical analysis. Read some references also if what he say has basis also. Comapre with other analysis.

Yeah, I agree sometime copying things really work but you have to be careful whoever you are copying is strengthened enough to be copied. There is a saying in my local language which translation is that even to copy you need the presence of mind. If you are wise enough, just copying may lead to developing a successful strategy.

Copy trading is good for creating mutual benefits for experts and new users.  New users that don't know about trading but want to invest can follow the trades of expert traders, and expert traders can earn more for doing the same amount of trading.

You can check out Covesting (https://covesting.io), they've just opened their beta to the public, and traders there earn 18% of the profit that their followers make.  New users can search through all traders that publicly display their trade success history, so that they know that who they are following has a solid track record.

For shares there are a few different platforms that provide copy trading like EToro, but for the crypto market Covesting is the only major copy trading site.  They raised about $18 million in their ICO as well, and are building up their user base now to prepare for the full launch in the next few months.

Copy trading is one of the best ways that good traders can build multiple revenue streams, and it's tough for new users to find platforms that make it easy to get into crypto trading with risk reduction.  One of the differentiating features of Covesting is also that they have their own token that power the site, COV.  COV is used by traders to pay fees at a discount of 50% over other methods, and they have built buyback and burn processes into their platform to gradually increase the value of COV over time.  Arbitrage bots and algo trading are also only unlocked using COV tokens, increasing their value and demand more.

Copy trading within crypto is going to be huge, especially once more of the general public adopt and are looking for places to trade and leverage the knowledge of others.

At the moment i never try copy trading, but look interesting to try it. Only use maximum 10% from trading balance is better because we dont know how the strategy and risk management of other trader that we copy that. Actually is better to learn and to do trading by self to increase our knowledge and skill in trading.

1Broker is one of the one broker that offer copy trading,  personally i dont try it yet, but i have seen the portfolio of the trader that mention in that broker can be changed, so that mean they does not earn profit by consistently.  I prefer to do trading by self so i will know what my mistake and i can learn it more. If you have less times for trading,  you can do swing trading that consuming alittle bit times.

Copy Trading? This is my first that I saw a strategy like this. But in my opinion, it will become suicidal to your capital once you will imitate someone's strategy specially, if you don't know him totally. I believe that having own style will help us to be veteran in trading and even without the help of others, we can learn using observation and studying about market.

1Broker just shutdown by SEC, and other broker that offer  copy trading  is eToro. But all trading product that offer by this broker is CFDs trading and this trading more risk than spot trading cause use of margin. If you want to try that copy trading for the better use small amount first and make sure use low leverage.