Bitcoin Forum

I came across this article and definately want to share it with you: https://techbullion.com/best-5-crypto-social-trading-platforms/

It's worth reading if you would like to start crypto trading and don’t know from what and where to start.

Just imagine, “you simply let someone else develop the trading strategy for you by directly copying the exact same trades they make”. In addition, you can analyze and study the crypto market and strategies you followed, and interact with the traders.

I agree with the author's choice. Those platforms are interesting in their own way, and traders of different levels and with different goals can find the right platform.

Coinmatics is a new and fast-growing platform that will be good for beginners since it has a user-friendly UI and intuitive tools. I think almost everyone knows about eToro, and it is the best match for advanced users (just check their multi-functional platform). Zulutrade has a huge education base in addition to forex and copy trading. The fans of cloud-based systems will like Zagnaly and Shrimpy. I am fascinated by this discovery in our crypto world. What do you think about such crypto copy trading platforms? If you ised some of them I want to hear your experince.

I haven't experienced anyone of them that has mentioned, just sounded unfamiliar to me, yet those exchanges isn't popular. I need to review their background before I'm going to develop certain confidence about their trading operations. Maybe that's good for beginners as a part of their stepping stones as a trader, but I do recommend well established exchange sites that's stable with their trading volume.

I thought you will give an idea or something knowledgeable advice on how to trade just because the title says, "Trade + study = great combination", do you think this is relevant to your post?

I never tried copy trading but I have heard, using this feature sometimes mislead newbies to losing their funds, so I suggest having a full study first and don't rely on copy-paste trading because the movement of the market will not repeat itself for the copy-paste trading.  Trading isn't an easy task of gaining money and there's nothing to hurry if you didn't have yet knowledge and skills on it.

Of all you have been mentioned above, only the Etoro exchange platform could I trust, the rest aren't well known and probably it's a risk to trust to hod your fund there.

You are right, I think of the many traders who act like this are copying trades hoping to make a short profit. That's his choice but I totally disagree with this. According to my trading experience, since 2010 not all copy trades are free, even paid ones ensure that every entry will be profitable. I am more interested in independent analysis through technical and fundamental. This will become a good habit and make it easier for you not to rely on other people to make decisions.

You've been mentioning several names on here about copy trades or what so called social trading platforms you had mentioned but I don't have any experience
nor glimpse on how these thing works but basing off with the description alone then it do talks about copying trades.

Great combination? Depends on how someone will be making out his trades or on how he do make up learn for himself.If he do knows how to utilize or make
use of those chances on learning then nothing beats out on something you do really need to learn up.

Plus having experience on dealing with the market will surely be a good add up.

Terrible idea to use those copy trading platforms, trading is already risky enough but now you are going to let someone else dictate what to do with your money when you have not even met them and you do not know what kind of strategy they are using and if you have any chance of being profitable at all?

Those platforms are for the ones that do not want to make the effort to learn how to trade by themselves, just on the first page of this section there is a thread with some evidence to suggest that 95% of the traders out there are losing money, why do you think one of the few winning traders will allow himself to be copied and reveal his strategy to someone else? So you only have two options learn how to trade by yourself or avoid trading at all costs.

I've also thought of the same too.

But he's just suggesting copy trading and he thinks that it's as always as accurate. And there's one thing that I've seen that is obvious on his post and that is just giving an ad for a certain project or service.

And that's the coinmatics which I don't know its existence.

Where is study+trade=great combination? I dont see it.

The list is on copy/paste trading, this kind of trading is not good for newcomers in trading. They need to have study because trading is full of technical and fundamental analysis which is is hard to achieve in just a month. Etoro is very popular for copy/paste trading but if you check their site, this is not good for new traders because it has a minimum amount of initial capital before you can start.

It will impress if this thread has information about stop-loss and other technical analysis. Copy/paste is just wasting of time.

I do really anticipate these kind of responses because people are way too hateful that much when it comes to copytrading or following someone when it comes to this manner.
Agree somehow in some sense but it isnt really that bad actually because sooner or later they would really be realizing that it is much more worth if you do trade manually
and able to earn and learn with your own ways of making analysis without relying others hands.It not bad to look for some informations or ideas but it is just good
if you do really just get some of it and apply it on your own.Lots of trials and errors does involved with trading.

I thought you were going to discuss base on the title of your post but you talking about something else, copy trading. Copy trading does not give a true experience of trading and you can not do much studying while practicing copy trading as you are relying on someone's expertise, I think this can form part of the real discussion of your thread. Trading gives you a daily experience so that you can go into study to correct some wrongs from your trading failure. For traders, it is more important to go into research to be better.

You are simply promoting them and I don't want to think that you are one of these groups trying to bump their platform and services.
Trade + study = positive result but this only happens when you stop copy/paste trading coz this will never give you the best trading result.
It is much better to have your own strategy than to keep relying on others to work on you. If they lose, you definitely lose also.

OP, I think you should not do this because traders are already know how copy/paste trading give a negative impact on their life.

This is obvious, he’s just promoting this platform and I don’t think that this is a good one.
Having the right knowledge is a must, and once you acquired the skills in trading for sure you can do it alone without paying anyone for a trading signal. If you want to create great combinations, you have to start working on your own and don’t trust anyone easily.

What is the connection of your statement to the title in which you had made dude?
I don't see any relevance of it, or I may be wrong or I may be right.
Isn't you are just promoting some platform here? Because, honestly, I am not quite familiar with them actually.

I think the title needs to be changed to "Copy Trade + Trade". I don't think this social trading will do most to get some learning really on trading if what they promotes most is copy trading, though I think there are traders that might learn but it's too rare if they get some good foundation just by copying to others, unless a trader was that wise to learn what's been thrown at him on these platforms.

Maybe the title should be "study + trading = great combination" because you cannot trade better without study for the first time. But if that is about copy trade, I am not sure you can profit like a trader you copied as you need to know what that trader does. I prefer to research and trade by myself and not copy trade someone else because that can make us lose money if we do not know how to copy trade better. Maybe you need to have skill and experience in trading, so you know what to do when you want to use copy trade.

I don't trust cloud-based platforms knowingly that they can use my information or connection with my exchange to possibly hack it. That's just what I'm worried about. It's okay to try copy-trading but risking a lot of funds while having access to it is quite risky. I would still use a more secure program that wouldn't be installed anywhere but on my computer.

The title is misleading or the OP has been misled.

The word "study" in trading has a much bigger implication than copy trading which is what has been said in the OP. Copy trading is a scam at the most. You pay for being able to see what someone else is doing and then go to market to do the same. But you forget the time advantage that the previous person has already obtained.

Also there is not guarantee that the person you are copying from is a market guru, because nobody is but everyone says they are - Of course another part of the scam.

But this is not the first thread in this forum about copy trading. So newbies reading this should be careful about what they are being fooled into.

I haven't gone through the article thoroughly but generally it is better to trade after getting the knowledge. There are many free sources available online where one can learn trading. The sad part is that no one is ready to learn about trading but expect to get good returns in their trades.

I heard about Shrimpy in this forum before but never really tried it.
Etoro is one of the known regarding investing and trading services so there are no questions about that.
They filled a lot of websites with their advertising powers.  ;D

It doesn't mean it will be an accurate strategy though.
Your effort is still needed to make the risk lower until almost zero.
Might as well do everything on your own instead of doubting one's work and doing it over again.  ;D

There are tons of free resources on trading that gives insight on an asset, its current market movement, and the general sentiment of traders towards the said asset. You can copy their position while learning a thing or two on their analyses, for free. Tradingview, for one, gives you some traders' insight on the market and sometimes their position, though the site never really asked for premium membership unless you want the added features.

Anyways, copying someone's trades without really knowing their reasoning on those decisions are kinda useless since you won't understand much about how they came up with that trade in the first place. If you're a beginner trader, spending money on learning is acceptable, though if you can get it for free, why not take that route?

In my opinion, those social trading platforms are not well established and so will surely impose great danger. And at the same time you are putting yourself on a much greater risk because it's a copy trading. Copying trades of someone else is not a good choice because there is always this possibility of them losing their game. It is much better if you first study basic analysis on trading then just do it on your own using well known exchanges rather than doing it easy. Playing easy won't bring you anything, trust me, it is a universal law. ;)

I personally believe that trading by copy-trading veterans traders to make money while studying to learn how to analyze the market by oneself is a great combination. I believe that it's a great source of motivation for every new traders when they are making money with trades.
However, you'd be cheating yourself if because of the money you're making, you stop learning how to trade. I realize that is the case of quite a lot of people who started with copy trading. They, because of the money, ignore the hard fact that they have to actually learn how analyze the market and place these trades by themselves

Hi! i just start live streaming some premium indicators trading so if you want you can chek it https://www.twitch.tv/easytradegoat

Of course, we can agree with you that trading and learning is the right thing to do, but if we are talking about choosing platforms for this, how about the right choice? If, for example, a beginner wants to copy other people's bets and study, where is the guarantee that he will find the right place for this. I am not saying that the platforms proposed by the article are bad, but it is always difficult for beginners to take the first step, since they will basically fail. But I believe that if you want to learn how to trade, then you will have to enter different platforms, try your hand and learn on the go. I believe that everyone should go through this difficult path, since the most important thing in this is practice.

It is a newbie platform, nobody gives the try to copy/paste their strategy coz we know what it possible ends.

And in the first place, there is no reason why we have to follow these people for the fact that they never give any proof that their strategy really working. Following them, do the copy/paste isn't learning of becoming good in trading but this gives us a reason why we fail.

Besides, we can learn trading without these people, we can make our own strategy from the ideas we get watching online trading and from our friends.

Yes without ponder and information not conceivable to be a proficient trader,Without information is like a gmabing.You ought to consider from your exchange is critical marvel and learn from past encounter is imperative one. In case you're not prepared to memorize of exchanging, you won't get a sound information on exchanging. The stage is additionally a vital one in exchanging. You'll be able select a bitcoin to exchange in a long run.Also a few altcoins have potential to HODL for long run.

I agree that studying and trading and doing them both forever is the way to go. You can't just study first and trade later, or you can't just trade and not study, you have to start with studying and trading together and never stop either of them, you have to keep trading both of them to make money. If you study for even 10 years and just stop studying, eventually trading world will move to a different level and leave you aside, that is why you should always keep studying, doesn't matter if you have been trading for 30 years, just keep learning and keep trading so that you are aware of all the newest things in the world of finance and trading.

I personally never really understood trading that well, I study it and do it a bit but I know that the best way for me is to keep buying more and more and hold them all, that way I could make more money and make it easily, otherwise I may end up losing a lot for doing something I do not understand.

Copy trading? Heck I won't even attempt that kind of strategy, even if it counts as a strategy.
I also do software development and it's like copying someone else's code with just changing variable.
I don't think you'll be able to analyze and study the market itself by doing that, well sometimes you can't really understand the market because coins have their own volatility in price anyway.

You have a point, But newbies on programming do copy codes or rely on pre-made codes on the internet for them to imitate it or figure out how can they do it. In the process of learning, It is very helpful to rely on something that has been proven and just figure out how they did the original owner do that. Copy trading isn't that bad if you are learning from it but if you just rely on it forever without learning anything well that's just like copying someone else code and just changing its variable for your own good.

I believed that we have different ways of learning and finding the most efficient learning for yourself is the best. As long as we ended up on our goal, It's fine.

yes, I have tried copy trading on a platform but the results did not match me...
I learned one by one which traders made the most profit in the last 1 month and then tried to 'copy' the trades that were made, for a while I was satisfied but it turned out that someone's luck could not be imitated. it is much more comfortable to trade with your own decisions and analysis.

It doesnt really give out that feel of satisfaction eh? but rather end up on regretting on losing money without doing anything or you havent made out your own analysis right? This is the common feeling
on where people do lost up money without having any effort.

Its better to lose up money with your own analysis at least you do know that you are really learning up something and striving on your own.Once you do get such knowledge and grasping out
something then it would really be piled up and would be relevant on longer runs.

When you do tend to follow others then you can still make out learning where trying to observe on how things had been done.

I think that I never know about this copy trading method and some exchanges or platforms also provide this. However, will it really work well o others?
Probably initially, this can be used for the newcomers and also someone who wants to learn about trading. however, if we have been learning from our experiences and also doing some research, it is better to combine or even conform to the new strategy of us to do trading.

Well, I agree with you on this point. I have heard many stories in copy trading and one of the most well-known trading site is Etoro. Many newcomers in trading wanted to learn in copy trading because it is a quick and easy way to learn in trading while practicing and having some experience already in trading, the best move here is you will combine the research and copy trading and don't depend only on the copy trading alone. However, there are too many negative possibilities that you perhaps to consider in copy trading because you perhaps copied a nonprofitable one.

Perhaps, copy/paste trading is only a stepping stone for a beginner to learn as soon they will make their own journey when they are ready enough to face the risk. The wrong thing is that if we keep relying on this always and this gives us no way to improve our knowledge and skills.

Well, a lazy person will take this forever and there is no way also that he can reach his goal. And we want a change, it is a need for us to have our own strategy coming from our past experience.

The title did mislead me too, I thought there was something worth reading but then it was just some user shilling something. I don't know how to answer because what exactly is being studied, there is an array of fields that can be studied by anyone so we will leave it at that. Copy trading will work if you checked the portfolio of the person that you are copying and you have the money to sponge the possibility of losses that you are going to get when you copy trade.

Binance has something like that.. sort of? There is a place where it allows people to share their profile, I do not remember where it was but I remember seeing a guy who turned 70k into 1 million dollars in the past 1 year using leverages or something, he bought futures a lot and at the right times when bitcoin was moving up (which it did mostly this year) and he made that kind of profit, and I have seen his profile and how he made that money, which is why I know that binance has it, just couldn't find it for anyone else (or even find that person again), hence maybe I am wrong.

It is really not a smart move to follow someone because even if they made money once, doesn't mean that they will keep making money, that is the biggest challenge, making money is possible but keep doing that for a very long period of time may not be something successful, hence that is why I stay away from that.

Information and learning regarding trading can be found freely with the use of internet which is a great help to newbie and even in the regular trader indeed. To be honest learning about trading should be consistent and we shouldn't get tired of it because as long as the technology and the blockchain of cryptocurrency kept on updating then alsp we should equip ourselves with abundant knowledge and yep it is a great combination to become a good trader.

Without studying trading, you will not have a chance to buy low and sell high because you will not know when it comes. Even if you already learn about trading, that will not be enough to get that time. You need to have experience because the more experience you have plus trading skills, that will help you analyze the coin. If you can have that, you will make a profit, and I think you will become a pro trader who can analyze the market in any conditions.

I had already given up on copy trading from other sources I took the pain to study how to trade to avoid following other traders signal whose veracity isn't verified having had some streak of loses when I copied trade in forex factory as a forex trader, now as a cryptocurrency trader I studied hard to develop my strategy based on candlestick patterns and Price Action this would enable me to take personal decisions when trading.

- Copy trading will not please anyone, although this method from the very beginning has the good characteristics that we will not need too much experience, we can follow in the heels of professionals and make a profit but the market and exchanges will not give us such an easy gift, this method has problems as it involves leveraged trading. The starter will not have too much spread when setting the order while we are the ones placing orders behind them, the price difference will be quite large, don't fall for this simple trap, try to win with our skills

That's a wrong mindset to have, blindly copying some random users that claims to be a professional online and shows you all sorts of proof that can be edited without you having any clue what's going on. Trading isn't that hard to learn the basic and with that knowledge you can start your enjoy in the industry while you let your experience and other additional knowledge you'll acquire as the journey goes on, to help you become a profitable trader.

You stand a chance of losing more if the trade (signals) you copy goes south, the fact is they (signals providers) can't be accurate all the time and in chances when they're wrong you don't have the privilege to learn form the mistakes that resulted in the trade going south. I won't say much since I believe other responders must have done justice to this topic already.

Much better to entrust things out of your knowledge, learning things even it will take you some time
always good doing by your own decision making.

Following other traders if you also have some basic skills is manageable as long as you do understand
what you are doing, you can quit to cut losses or continue to maximize your earnings.

I don't blame people who trade relying on the help of others, such as following crypto trading signals, using trading bots and using copy trading
that are offered on several platforms. But if trading depends on other people, will not work out well in the long term. I say this because I have
experienced trading relying on other people, finally my capital ran out and my trading skills did not develop. To become successful traders you
have to rely on yourself, because learning to trade will make us have the ability to analyze the market well. That way our abilities will continue
to increase, because we can learn from every mistake we make.

I haven't used these types of things yet but I wonder:

imagine that a person enters the world of trade and begins to study technical analysis and does not have good results and then finds these sites and starts to have good results, time goes by and the person gets used to the copy/paste until one day the people on that site disappear and the beginner trade no longer finds the strategy they were used to. how will that person make money from trade without copy/paste?

that's why I think people should learn on their own and create their own strategies, maybe these sites can serve as a consultation

I was expecting a totally different write up, but to be honest I don't have any interest in copying or trading by other people's strategies, cause if they make a wrong trade decision I will lose my capital alongside, so I have come to conclusion that if I must trade it must be from my own findings and trading strategies only, I don't want to get caught in someone else's web, thanks anyway I'm not interested in copying peoples trade neither am I interested in the exchange you're shilling :).

I haven't done copying or relying into how someone do their trades for I have first learn from the basics or totally from scratch which means I am the one who have discovered how to analyze and deal with trading. I do not literally wanted to just learn from what others are doing because I will be dependent on that and for me that is not some sort of learning things should be. I study how does trading works and do assess by trying out what I have learned and that is basically how I do trade and study at the same time. I learn from my mistakes and serve that as a lesson on what I basically I am right now. Better do learn from your own but if copying trades from other works on you, then it is fine then.

Don't get the wrong idea from the headline, trading is not for everyone! And to make money with trading, you need to have some money first!

Crypto is a great combination with almost everything! You can always find something interesting in crypto, something that you like, from what you can earn, or where you can make a profit with some starting investment! I often say how crypto is a world for itself, there're so many things and mostly new stuff for all of us! We have to read and learn than try it and practice it... and when you figure out one thing (or you didn't even come to that point of understanding something) here is a new thing that is drawing your attention.

I guess that previous education, current status (student, worker, unemployed), profession, age... can give you certain advantages, but they are not essential! Crypto is open for everyone, so anyone is free to come and learn! And in that process, it's possible to earn and make money!

But that is the issue, are those that are using copy trading platforms actually making money? Because I doubt it, traders that are successful will decide to not allow their trades to be copied and if they cannot avoid this then they will just change the platform they are using and trade somewhere else.

This means that this is a case of the blind leading the blind and it is impossible to get good results from it, anyone that is interested in trading should just learn on their own, any other option other than that is just a way to deceive yourself.

It's true that trading and studying would work but I'm not familiar with the platforms that you have mentioned. Copy-trading I think is a risky thing to try. If we're really studying hard to know more about trading then we should have enough knowledge on how to make our own strategy and how to handle our funds. Copying wouldn't work well because the market movement isn't uniform. Trading is a long process of learning but we shouldn't always rely on other's techniques and decisions.

I agree with this. Because in cryptocurrency money is not the only fact you can't depend on just investment. If you want to get some positive returns then you have acquired more knowledge and practice more and more. You have to study about the market condition, the study doesn't mean to take any degree it means that you have to research on that and stay connected with the market.

Studying and trading it's still better then going heads in. With time there will come experience and it's gonna be a success for sure. How much success depends on how good a person can control their emotions.

During this time I only learned cryptocurrency and get signals from telegram channels. and if to make predictions using only tradingviews. I'm just a little confused as to how they can get good news about the coins they're newsing. What's from the special group? or anything else? and i just heard about coinmatics i will try it to apply it in the world of trading.

Success isnt assured because not all to those who trade would gain up experience even though they do able to attain that but doesnt mean that they would succeed.
Lots of factors first need to be considered to climb up into the ladder.To think that trading isnt for everybody because there are instances that no matter how hard you do make
out some trades, no matter how hard you do try to learn up but still not enough to make yourself sustainable.There are real life situations on this trading market
which individuals turns out to be still on the losing side in spite on trading for how many years.

I consider copy trading or just blindly following others trade as betting on sports with the help of tipster because they are quite similar, you feel confident in your tipster and bet on their picks and in copy trading you are doing the same. It is way better to make mistakes but learn rather than trying to avoid mistakes but skip the learning.

It's more like skipping a class during studies in the fear of failing than actually facing it, learning, and moving ahead. The problem with skipping is that you miss a lot of things that you would have traditionally learned had you focused on learning and didn't chase earnings.

Others cannot help you by holding your finger throughout your life, at a certain point you have to start taking risks or at least be brave enough to make mistakes but learn in the process.

Having your own style in trading is different on following any trading advice and this is why I encourage everyone to study trading and don’t just buy and sell without a proper planning. Having strategies can also be a big help, don’t skip this part and never depend to anyone when it comes to trading. Succeed on your own, and focus on your own timeline, don’t compare your trading result to others.

Not just the losing of capital that's brutal, you don't also gain any experience since the trade wasn't yours in the first place. In trading getting the experience and educating you need from lessons is very vital so you don't repeat such mistakes again. There's one thing professional traders have in common which is mistakes they have all made in the past and all learnt from them that way they won't repeat such mistakes.

Your topic should be study plus trading as that's more appealing, you saying trade plus studying is more like saying we can engage ourselves in the act of trading then begin studying which shouldn't be the case as we're all meant to learn, practice before we can start live trading.

Copy trading is not for someone who wants to do trading as their main job, it is smart but not effective as far as I heard from the people who is having experience. There are lot of ads you can see about the positive things about copy trading but no one is talking about the negative side?

If someone made huge profits from a trade doesn't mean he will be successful all the time, the pro can bear the losses but for a newbie it will be unbearable.

I do believe also that trading isn't for everyone because we as a human has a different level of curiosity, different level of taking risks and different type of passion and likeness in life. Doesn't mean that trading suited in him will surely suit in you too. But i do believe that crypto is for everyone unless we have the eagerness to learn about the blockchain. So from knowing crypto we could link the aspect of trading. Learning trading was also like learning crypto, before you can enter to the game you must first hand have the basic knowledge about it.

If you mean trade and also study what's going on in crypto market, then its best possible combination. What we really do is blind trading aka trading without studying the facts and figures. Trading with mind is best possible combination.

I think it used to have a great idea, but just from the early days of this idea getting famous, we have reached to a huge bull run that saw bitcoin reach from 5k to 60k now in a year, so it was always something that was a bit risky, it was always something that was a bit dangerous but never really looked so profitable, so people saw everyone profiting and they started copying those who made money but didn't realize that those people made money because they were in a lucky market, whereas we may not 6x again for a long time in bitcoin.

So, what happened was, copy trading was calm and good and improving, some lucky people made 5x profit, others followed to make 5x too, and failed, and now copy trading is bad. That is why I always say that nobody should do something because it is hyped, it could end up hurting them the most because they got in with the hype.

I think the best possible combination is trading + experience + good platform + knowledge = good profit. There are different things we should consider to make trading. We have different expertise so it depends on their adaptation to the environment they have just to earn profit regarding trading.

Trading becomes harder if your self still in the void.

Maybe not for everyone but it still can be learned sometimes.
Just like when one cooks, not everyone can be like those master chefs around the world but anyone can still manage to cook in their own pace.
It is just that one would be at a disadvantage, but that doesn't stop one to still learn and master trade.
I've been teaching programming and not anyone is a programmer, but anyone can program because it is still learnable.

Two major things that every expert trader should have are knowledge and experience as these two combined are sufficient enough to bring ones trader a fortune and profit. But yes, there are minor things such as the platform, emotions, and capital can impact your trading progress. These minor factors can hold you back from earning and trading on such occasions but in the long run knowledge and experience can make up for those.
Anyway, trading takes time but it also depends since I've known people who got literally lucky on the coin they've invested which boom on the short run. 

the first time I tried copy trading was about a few months ago.
I thought copy trading is an easy thing because the platform also presents the trader's stats (win rate, etc.)
however, I realized that those traders open many positions to get profits.
so, when you have $50 for copy trading, you can only copy 5 positions if the minimum amount of each copy trade is $10.
those traders can open a bunch of positions. they would do cut-loss some of their position too.
when you have bad luck, you could end up copying their positions that need to be closed due to cut-loss.

in a nutshell,

you only afford to have 5 positions. meanwhile, the trader has many.

trader:
1. profit 10%
2. loss 5%
3. win 20%
4. loss 5%
5. loss 50%
6. profit 70%

at this point, the traders can get profit because he successfully recovers their loss on that 6th position.
but, you can only copy him until the 5th position due to your capital is limited for 5 positions only.
CMIIW.

The successful traders never quit. I know that these people never succeed instantly but they suffered losses at first due to a lack of knowledge, trading skills, and strategy. But that because they wanted to reach their goal, they find a way to improve their knowledge and that it can only be possible if they don't get lazy to study the market behavior, keep searching, and applying learnings from their mistakes.

Trade + study = not enough to win this challenge, it also needs to have strong determination and goal setting. This will create motivation to achieve what we aim for.

I’m not a fan of such platforms. Usually you have to pay for using such a platform and to the trader whose strategy you are copying. Moreover thoughtless copying of someone’s strategy can hardly teach you trading; you will rely on someone’s knowledges and forget about prudence. This can lead you to the total crash. So be very caution with these platforms. Choose the charge free one, read there, communicate, use it like a source of information but not participate in copying strategies. This might not go to end well.

I never heard of that what you are saying here in the forum. However, copying others trade for me is not a good thing, because you have no originality. It is still better to learn trade and earn with your experience in the actual exchange platform. But not in copying others trade style.

Why worry about the originality when you are guaranteed to profit, it is a known tactic and I do think that it is a good thing because it is convenient for you because you don't have to put in the additional effort of analysis because you are just copying what that successful trader does. In the world of finances, originality is laughed at because it is risky and it doesn't guarantee a profit and people love to get profit so what works is what they are going to do.

Trading for real is the only way to learn, if you study that would be great, studying would help you a lot, but even the best student who have studied everything amazingly will not be capable of profiting on their early trades, at least not consistently because no matter how much you think you know, if you never traded before that means you are not going to make a profit from it neither. That is why I think it is quite obvious that we do study and learn as much as we can but we try to trade a lot and learn that as well, without that we are not going to be profiting in the end.

This is why I think it is crucially important for everyone to get involved. Of course if you do not want to be a certain type of trader you do not have to learn that part, but learn as much as you can and experience as much as you can in order to be good so that you can get consistent.

this is the only industry where someone will share their hardwork to others but i guess they can make comissions for doing that if that strategy is guaranteed sure win  but for other industry  ( arts and music for ex. ) they dont want to share their works because it was copyrighted by the artists .
its fine to copy trade but if you think that this thing makes you a weak trader because your depending on other traders skill  you can quit doing that and learn to trade by your own.

Copying isnt bad but it will vary on how far you've been depending on it which wont really be giving out some advantages  on you when we do talk about long term but if you are
a person who do keep learning while you do follow someones trade by making up some review or some test up then i dont see for it to be an issue.Its just on how you do handle
out yourself when it comes to self learning yet this is the main reason on why we do say that following someones trade is really not giving significance at all when it comes to learning.
Trade+study+perseverance+emotion handling = success trading career.

whatever we do we will always have to obtain knowledge if we are to succeed in the thing we are doing. it is not possible to do any business and be successful without our knowledge of the business, so I think that anyone should know that it is not possible to trade or invest in cryptocurrencies without having knowledge of cryptocurrency trade and investment.

I'll give you an example:

if someone doesn’t know that when the bitcoin price starts to go up the price of altcoins a lot in relation to bitcoin starts to fall that person will lose money if they buy altcoin, but they will lose in relation to bitcoin getting less bitcoin, but they may have more dollar

are things we have to know


It is true that this cryptocurrency market is very different from other markets, it is not enough for the person to do technical analysis, the person must also follow the news if the person does not want to lose money

@OP, I don't really have a first hand experience from using copy trading social trading platforms but I have a couple of friends who have tried it at some point in their trading career and from what they told me, their experiences were nothing to write home about.  Simply put, they had wins and losses but the losses they incurred from blindly following those trades outweighed those they won. So it wasn't really worth it at the end of the day. These kinda platforms have been around for as long as I can remember ~ around 2017-2018 with coindash and others. The fact that it's still not a popular trading path, says a lot about it.

Manual trading and self-analysis is better than anything. instead of having to use copy trading. It is true that you can do the analysis too, but by copying the trades you analyze only the final result, no process is carried out.

I prefer abilities that are developed from the start, it will be better. I started learning from scratch to understand trading. Trade + study is indeed a very good thing, but the studies that are done must be done properly.

Always it will be the best combination.Because if the trading alone made without a knowledge. Surely in a certain point, it will became a useless one. So it's better one to learn about trading and past price of certain coin. Mostly research about the coin, where you are going to inverse your money.

I think that all traders before entering the market did some reading on how to trade, investments and on how you can try to understand the market, the statistic that 95% of all traders lose would start to drop significantly, many enter doing gambling in trading and it is not the right thing to do, some take classes in academies and still are still part of the 95% statistic that they lose.

If a person decides to learn trading by educating themselves by reading market speculative authors, they would learn some strategies of how to react to certain events, if only Technical Analysis is studied without having any idea what is happening in the world or how it can react to fundamental news, the AT will fail, like the Fundamental Analysis, I think that trading is a career that every day you keep learning new things.

From my personal experience trading with amount you are ok to lose is the best way since you don't feel the pressure. Those kind of emotion define most of trades.

Trade on the amount that you can afford to lose is a must but when we are still newbie then its just normal to have those kind of mistakes which is inevitable.

With experience you would able to see and learn for yourself on what are the things needed and what are the things which should be ignored along the way.

Great combination would really be discovered by you and combining those stuffs with your own preference.

Yes, eToro is a very popular platform and I usually see their adverts a lot of places online, and I am aware of their copy trading platform that they have created and it’s been around for a long time and they have been able to be working on it and improving all the time.

But I have not used it, because I haven’t really got the push to go for it, and moreover I am not into day trading, although I know very well that the copy trading can be helpful as you will have to be copying people who are big professionals, I just don’t have the interest. Mostly the investments I do is Bitcoin and a few alts, and it’s mostly to HODL, which works for me much.

Yeah it is. You can earn lots of cash while studying.  Many student are in searche of work in the recent time.  But they can earn more than a part time job by trading. But at first they have to learn how to,when to and Where to trade.
After completing the trading course they can earn bucks doing trading more than most of part time jobs of the market.

You are getting the wrong idea. Studying something other than trading and keeping trading as a hobby is a different thing. Part time and all sounds good, even though the effect of that on your studying might be different. Not everyone in this world is studying economics or so.

What is dangerous is following another user's trade and using that to do your own trades known as copy trading. Copy-trading is a eyewash term used to run borderline scams.

It is very easy to make a fake bunch of orders to show the followers and use their money to move the market because you want it to - that is what is done by these groups. If you are on their followers side, be assured that you will lose out than win anything.

Truly, I like this combination because it works excellent in the crypto world. Only investment of money can't bring you success when you will give afford to know well about the market then you can guess or understand the condition what's going on. So practise more and more then you will able to decrease loss and achieve your goal.

sometimes it is difficult to assign to a new exchange or a new platform on a trading site if it doesn't have a review yet. there has to be evidence from professionals to get in there. may have to consider many factors to be able to convince it to enter the world of trade

We don't need just to practice but it is a must for us to do it since we are engaged in high-risk trading. We don't want to lose our money and that is why we have to work it.

trade/invest + study = success

We probably know what will be the result if we are just too careless with our trade. Becoming a successful trader is a sort of motivation and that only be achieve if we do something for ourselves and that only it happens if don't stop learning.

I believe that trading needs a constant study and learning to be able to earn a profit or even save you from possible losses. So yeah, a trade + study is a great combination when dealing with cryptocurrency but even also in real life business it works too.
Believing in yourself that you can learn trading with your own and learning trhough your journey and experiences because what you have learn from your research about trading without execution was useless.

Knowledge but also patience as well. I have a friend who turned very tiny amounts into millions of dollars but he did that in 3 years, he was patient and he was wise so he used his wisdom and combined that with waiting and he became super rich. How? He bought a coin when he felt like it was undervalued, he bought more if it dropped and when it went up, he sold 25% of the profit first, and then 25% more and so forth until he had his initial investment level money in there, but all of his investment back out and he invested into something else.

This way he had a lot of coins invested that he owned but he didn't technically had any of his initial capital in anything because basically as soon as project did 2x he got out his investment. Now he has millions of dollars because he was capable of waiting for all of them, since he didn't had any of his initial capital in, price of projects could become zero all he cares, hence he was capable of waiting for years before they went up.

Learning is a continous process because this isnt something that you can just simply deny on specially when you are really dealing with a very volatile market.
Of course you would really be needing to study all in sorts of possible ways that you can do so but some of it could really be just found on the experience you do gain
while you do trade and cant really be attained via books or any online tuts out there. Those are indeed good combinations above but be sure that persistence and
consistency should be maintained not only just good for few days or weeks. Trading is a long term process for you to learn so better to learn up
as you go forward.

Is this equation is not applicable for bitcoin investments? ;D. Yeah, I am sure if you invest into bitcoins and planning for long-term holding then you may skip that learning part. Because, when your asset is having well defined bright future then you do not need to worry about altering/timing to exit your positions. With respect to investments we need to do continuous learning only when you are worrying about finding perfect time to book profits. But, we can simply book profits in bitcoin by year end of every bull cycle.

Certainly learning is very important part if your looking for sustaining trading career. Some traders may book profits sometimes and may not at most other times still they will keep looking into trading by remembering their  only profitable days because such people never find time to learn new techniques to stop their losing days.

When we focus on continuous learning, our trading will slowly turn into profits. Maintaining consistency in profit-making is purely depending on the level of updating ourselves.

That is a misleading thing to say because trading involves a high risk and I don't think that saying that it is a good way to earn money is an overstatement of the fact that a lot of people lose money when trading let alone a student who doesn't know or knows a little about trading and with no experience.

Well, those are not contradictory statements. There are people who could make a lot of money from trading, trading is a method that you could make a lot of money if you do it full time and you know what you are doing, but at the same time it is something you could lose a lot of money as well. Just because you "could" make a lot of profit doesn't mean that you can't lose money neither.

It means you could make a lot of profit or you could make a lot of loss, it all depends on how well do you do it and how the market moves as well. It is easier to make a profit based on bull run because everyone makes a profit during that period whereas it is very difficult to make a profit when you are on a bear market because everyone is losing money there. Long story short you could make money and you could lose money both of them are true and not wrong statements.

In this trade I will have to rely completely on the knowledge of person whose trade I am copying. That would be damaging over the time because I would not be learning anything from this. I might just get very lazy next time and may not even trade by myself. How bad it would be if such system fails or if I start to rely on only one person all the time whose trades I always loved BUT he leaves the crypto suddenly then what I am supposed to do.  Screwed completely isn't it. ;)
I think we should really think about this program beforehand and putting out money in someone's hand. It's fun when you trade by yourself, do mistakes and don't repeat them again or go for another tricks.  :)