New trader looking to profit from the crypto market

[bitcoinisgreat]

Hey Guys,
I have been looking at creating a passive income for myself and it looks like eToros'  copy trading could be my best option. Here is the article I read: https://coins.newbium.com/post/30512-the-easiest-way-for-new-traders-to-profit-from-the
What are your thoughts and experiences?

Also, I would love to know if anyone here copy trades and if not, would you?

Thank you in advance for your help!

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[jackg]

I have an account with etoro and I'm not sure I like the idea of copy trading...

If a lot of people copy someone it gives all of you less of a chance of making anything, you also have to pay them and take their losses as well as profit...

Premium investors who manage hedge funds make about  an average 20% annually (afaik) with a massive team. Some minor traders may do better since they don't have policies to follow to minimise risk but that might also be a negative...

[Stedsm]

Copy trade cannot be favorable for you in either ways:

- When you start following and copying just one trader's trades and keep copying him/her only
- When you randomly hop over other traders seeing bad performance from a trader whose trades were copied by you

It's better to learn yourself and trade than to follow somebody because, when markets turn into opposite direction of the trade you are in, just because you copied somebody, it's nobody to blame but yourself that why did you copy at the first place.

[milewilda]

Copy trade cannot be favorable for you in either ways:

- When you start following and copying just one trader's trades and keep copying him/her only
- When you randomly hop over other traders seeing bad performance from a trader whose trades were copied by you

It's better to learn yourself and trade than to follow somebody because, when markets turn into opposite direction of the trade you are in, just because you copied somebody, it's nobody to blame but yourself that why did you copy at the first place.

Just let them be and its no surprise that there are really people who do really consider most of the time on copy trades or even bot trading because they arent really that serious on learning from themselves and
instead on making a manual trade.Self realizations would happen after such devastation or blown up account or funds along the way.We can somehow watch others trade but those are just good for for reference
not actually a dependable thing for you to follow them all the way.Easiest way on making profits with trading? Then this line you shouldnt easily to believe on.

[ryzaadit]

A service like this, just makes them a profit.

The reason was simply going you lose, they still get a profit since u paid them to makes some analysis for their customer. Went their customer was lost by using their analysis, you not getting any compensation about your loss but still keep to pay their service. That's would be the same as Robot & AI trading, went you still keep to paid them whatever the result loses or win.

[Sadlife]

Etoro's idea is good and quite unique especially when there's only a few people who knows it and use it. Im just curious how do you pick users to copy trade from do they show reputation status and how much is their services cost ?

Because even if i win a trade through copying, if the cost of their services cost a lot then there's nothing left to my profit.

[jackg]

Etoro's idea is good and quite unique especially when there's only a few people who knows it and use it. Im just curious how do you pick users to copy trade from do they show reputation status and how much is their services cost ?

Because even if i win a trade through copying, if the cost of their services cost a lot then there's nothing left to my profit.

There's a part of the app that let's you follow popular traders and view their trading history.
I think you just load up their page and hit copy.

[bitcoinisgreat]

Thanks for the feedback. I have been doing some more digging, and this article states that it is possible to potentially earn a 10% profit monthly trading crypto by simply using eToro's' copy trade feature. ( see article: https://4king.com/easily-earn-10-profit-trading-crypto/ )
 
I think that I may give it a go, but it would be nice to get some insight from someone who has tried it previously!

[fudster]

That's very convenient for you to copy trade of others,  I just hope that the ones you pick to copy trades are the best ones not the ones deployed to make you lose. Does anyone you know who really do it and make it an auto-copy?  Autocopy would define it to be passive income.

I didn't realize newbium still exists up to this day. They use to spam this forum back in the days like it competes steemit.

[TheBeardedBaby]

I was thinking to give it a go back then but what I heard that you can invest BTC but you cannot withdraw BTC only fiat. That gave me a bit negative feeling. I see this etorro ads on YouTube all the time, start to be annoying

[LeoBTCGod]

You can profit from active trading, or profit from running an exchange. What do you think will be more profitable? It seems like you're looking for something long term, so I suggest you research decentralized exchanges which makes it possible to profit passively from running nodes on the network.

Stakenet is a good one, which is ready real soon, and offers instant off-chain trading through the Lightning Network. It has trading view, is ready for bots if you want to use one like gunbot for arbitrage and much. If you choose to invest in a masternode, you can essentially profit from the fees on the DEX.

Whenever someone trades from BTC => LTC or vice versa, the fee's are sold on the DEX for XSN, which is distributed to the masternodes, this creates artificial demand for the XSN coin, and creates a passive income stream for years to come

Good luck!

[tbterryboy]

Copy trading can be profitable only when you are able to copy a well-tested trader for free of cost. I guess no platform is providing it free right now. Sometimes, the profits you are making may not cover the subscription fees of copy-trading feature.

Also I read platforms are running their own accounts and advertising them as a highly successful traders to attract other traders for copy-trading subscriptions. Platforms must be generating two way of revenues by doing this; 1. Copy-trade subscription fee 2.Commissions on each trade.

[el kaka22]

I have been looking at creating a passive income for myself and it looks like eToros'  copy trading could be my best option.

One of my friend who has burnt his fingers has shared his observation about copy trading like this:
If you set with big capital like $25k to $50k and dividing them into 5 parts to follow 5 different versatile traders(based on your own analysis and by listening their recommendation) then you may get chances to generate consistent passive income stream. Small capital and following one or multiple traders with only one account may not help in copy-trading.

It means that you must have more than 2 accounts and follow only one trader per account. This will get you profits in average. More important thing is relatively good capital amount in each account (same level of amount in all accounts is recommended so that losses in one account could be covered by another account).

[htsy585]

Hey Guys,
I have been looking at creating a passive income for myself and it looks like eToros'  copy trading could be my best option. Here is the article I read: https://coins.newbium.com/post/30512-the-easiest-way-for-new-traders-to-profit-from-the
What are your thoughts and experiences?

Also, I would love to know if anyone here copy trades and if not, would you?

Thank you in advance for your help!

To be honest, I've never been a fan of of the concept behind copy trading and I've always stay clear from it because cryptocurrency market is very volatile and unpredictable to be following another person strategy because we have different patience and emotional control level. What works out for a person might not workout for another and to great extent the capital use for the trading matters alot in the potential profits/loss to be generated. Basically, I've not had any personal experiences but i've seen lots of traders burn their account due to following others. The best thing is learn yourself and workout yiur own strategy.

[thecodebear]

Oh that is funny. A commercial popped up on my computer yesterday for etoro trading. It had one guy trading crypto who did all this research, and then it showed another guy who did no research and said this guy makes the same money thanks to etoro. I had no idea what it was talking about until I just saw this thread haha, copy trading, wow.

I wouldn't want to do copy trading just because then you're not responsible for your own money. If the other person loses money then what do you blame some random person on the internet you copied who you don't even know!? ha. When you make a mistake trading you can blame yourself and try to learn from it, but when you just copy trade you can't learn anything, can't try to do better in the future, can't lay the responsibility on anyone because you just picked some random person from the internet to copy.

Just like they say "do your own research", the trading corollary would be "do you own trading".

[Distinctin]

Hey Guys,
I have been looking at creating a passive income for myself and it looks like eToros'  copy trading could be my best option. Here is the article I read: https://coins.newbium.com/post/30512-the-easiest-way-for-new-traders-to-profit-from-the
What are your thoughts and experiences?

Also, I would love to know if anyone here copy trades and if not, would you?

Thank you in advance for your help!

Well, I don't have a try for the eToro platform nor of having an account from but thinking about copy trading strategy, that it makes me think that is not a good idea and not the best option to take. You can copy the trading style or of having similar to it but of course, we can't copy everything out from them.
What if you can find a better idea? Should we just ignore because you are following the others? Trading could be actually having different, every trader has mostly the same in strategy but they are often different in managing on it.

[maxreish]

I wouldn't do some copy trades. First off, if we want to learn something by our own, we can start by trying to make a trades by ourself. Seems not a good idea if that particular trader you have copied was not really sure about his trading.
 
 May I ask, why are you interested in these kind of copying trades from etoro? Though it doesn't guarantee you the sureness of the profit, but if they can trade by themselves then you can, too. Learn something, even basic tools can be a good use to trade by yourself, OP.

[SatsLife]

Copy Trading is a great way to take advantage of a 24/7 market. Every exchange is heading in this direction.

[Latviand]

You can profit from active trading, or profit from running an exchange. What do you think will be more profitable? It seems like you're looking for something long term, so I suggest you research decentralized exchanges which makes it possible to profit passively from running nodes on the network.

Stakenet is a good one, which is ready real soon, and offers instant off-chain trading through the Lightning Network. It has trading view, is ready for bots if you want to use one like gunbot for arbitrage and much. If you choose to invest in a masternode, you can essentially profit from the fees on the DEX.

Whenever someone trades from BTC => LTC or vice versa, the fee's are sold on the DEX for XSN, which is distributed to the masternodes, this creates artificial demand for the XSN coin, and creates a passive income stream for years to come

Good luck!

When you are new in trading, you should understand that trading in the market is not that easy and you should know how to accept failures and losses. You need to know that crypto market is very volatile, most especially when you are using bitcoin. In trading, it is not long term because you have limited time to trade where the price is good for you because sometimes only thing you need in the market is technical analysis and patience where you can trade properly with a good timing.

Investing in cryptocurrency is a good decision because it will really give you what you are looking for, this is the best way to have profit IF YOU ARE GOOD AT MANAGING YOUR COINS. It is not that instant but you need to properly manipulate your assets in trading, all of the coins are important ETH, DEX, and etc., but I want you to prioritize using BTC in a volatile market.

[CryptopreneurBrainboss]

Do understand you can't learn anything positive from practicing copy trading, it's just like relying on trading signals when trading forex, you're basically doing nothing. No experiencing gained, no lesson learnt when you get wrong prediction since you're not the trader predicting the market. When the market goes against the predicted outcome, you'll be at lost more since you won't have any thing to fall back on. It's only beneficiary when you're getting the predictions right but that can't be assumed since the market don't move in only one direction.

Since you're interested in passive income, keep aside some funds and buy bitcoin to hold as you earn with little or no effort, while you learn the trading skill, it isn't that difficult to learn especially when you invest your time and money into it.