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Author Topic: The down side of copy trading  (Read 310 times)
Dr.Bitcoin_Strange
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September 08, 2024, 12:11:56 PM
 #41

Well that's it, basically it cannot be denied that even though we analyze in our own way, losses are still possible and if using other people's predictions has the same possibility in terms of risk, then of course it is better for us to analyze in the way we have, one thing I will say is that even if for example you experience a loss using your own analysis but you will be able to make it a lesson and evaluate what mistakes you have made, while when you use other people's predictions then of course you will not know why you experienced a loss. I think we should pay attention to that direction, because even though you lose, you will most likely know the reason why you lost if you do it your own way where this action will prevent you from the same incident in the future.

That's right, when you experience losses with your own strategy, it  will be easy to identify and make corrections on such strategy but if you copied the trade, you just need to accept the lose because you were not the person that actually did the analysis. I don't know why it doesn't interest me to use copy trading, I rather prefer my personal analysis. I am not either judging anyone that participate in copy trading, they do make profit too in most of the trade.

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Dewi Aries
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September 08, 2024, 02:49:37 PM
 #42

Well that's it, basically it cannot be denied that even though we analyze in our own way, losses are still possible and if using other people's predictions has the same possibility in terms of risk, then of course it is better for us to analyze in the way we have, one thing I will say is that even if for example you experience a loss using your own analysis but you will be able to make it a lesson and evaluate what mistakes you have made, while when you use other people's predictions then of course you will not know why you experienced a loss. I think we should pay attention to that direction, because even though you lose, you will most likely know the reason why you lost if you do it your own way where this action will prevent you from the same incident in the future.

That's right, when you experience losses with your own strategy, it  will be easy to identify and make corrections on such strategy but if you copied the trade, you just need to accept the lose because you were not the person that actually did the analysis. I don't know why it doesn't interest me to use copy trading, I rather prefer my personal analysis. I am not either judging anyone that participate in copy trading, they do make profit too in most of the trade.

Yes of course, so what we have to pay attention to is not the risk of loss but the possible developments that you will get when you do it yourself by evaluating to identify mistakes that you may have made at that time that caused the loss outside of market volatility, because in the end I believe that evaluating to identify mistakes allows us to get changes for the better.
And if you feel that you are not at all interested in what is called a copy prediction from someone else, then that's good, it means you have taken the right action, my friend.
In the end, there is no compulsion at all to prefer to do it yourself because after all everyone has different things that they think are much better or more profitable, the point is to maintain and maintain your risk management.

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September 11, 2024, 09:21:25 PM
Last edit: September 16, 2024, 06:09:02 PM by AmoreJaz
 #43

I have not heard much positive things about copy trading, the most I've heard about it are people expressing regrets and this is the reason I have never tried it before. According to people who have tried it, it usually start very well but along the line it begins to produce bad results due to software malfunctioning or a change in market dynamics. I will not encourage anyone to try copy trading because trading is more of a personal thing that one should take responsibility of and not rely on another.

You may try copy trading when you are just a beginner in trading and you are only using small amount of money. But as you go thru your trading journey and you are already gaining strategies, better slowly trade on your own up until you become skilled in trading. In this stage, you don't need to employ copy trading technique because you already have the grasp of trading.

Just take note of the negative impact of copy trading and you may want to do solo
- being dependent on the other traders, you seemingly can't decide on your own
- waiting for their movement
- you can't learn your own tricks and tips
- you are limiting yourself to the capability of the trader you are following
- you won't feel confident even after years of trading

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