New trader looking to profit from the crypto market

[sheenshane]

I prefer to use here E-toro exchange platform if we are talking about copy trading, even though newbie will easy to execute trading there.

Copy trade probably is good if you're still lucky to gain profit because you'll still do trading there will still be a chance of losing and winning regardless of how good is the reputation of the trader that you will copy. In fact, they might only let you see the good trades this trader had, and it will not matter to them anymore if you'll lose or win afterward.

A lot of new traders lose in their first few attempts, but that's how they learned, great and best traders didn't win all the time they also experienced losing but they never stop trading, and that's how they gained their reputation now. Making a copy trade will not give you a guarantee of profit and what is guaranteed in any form of trading is you may win or lose depending on how you will handle it.

[1715100377]

1715100377

[1715100377]

1715100377

[1715100377]

1715100377

[1715100377]

1715100377

[leyton11]

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!

I am currently copying trade at Bingbon exchange. There are groups that have established very good bots and their winning rate is over 96%. They are making a profit for me and that's great. In addition, in other exchages, I do not trust them too much. The top traders are usually the people of that exchange and when they come back our accounts are often burnt. Ideally, we should copy those we know, it will be easy to control and it is also easy to submit evidence to fix exchange errors.

[milandres0207]

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!

For me, copy trading is not a good way for the individual trader especially for the newbie who will enter into the crypto trading market.
It is much better to learn in our own way of effort. Although, EToro I've seen it mostly in social media such as Facebook and Twitter
but I never try to sign-up there.

[sana54210]

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.

No surprises. Definitely highly expected. Every business model will be doing this kind of things in initial days as they must be with lack of actual things to be populated. Over the time they may continue that because once they find it is profitable then they may never think about stopping it. Yes, all the successful traders available to copy may not be the actual traders and if you notice their available slot to follow them may never open to allow a new subscriber.

Making a copy trade will not give you a guarantee of profit and what is guaranteed in any form of trading is you may win or lose depending on how you will handle it.

What are your justifications for copy-trading will not produce profits? I mean at least in average? I am not going to expect profits on daily basis nor from each and every trades I go copying. But what would be the point if I still face losses (like no guarantee of profits) even after copying a veteran trader?

[tomkurniawan]

I'm using expert advisor/ bot trading and the backtest result was really good that up tp 450% return as long as you could set up. Check from this thread https://bitcointalk.org/index.php?topic=5243165.0

[MCobian]

I have never used etoro, but such services do not always provide profit. What is there is beneficial for the etoro itself, because when
we experience losses, we still pay etoro. It's true that copy trades provide passive income, but did not last long. Usually just the beginning
we smoothly get a profit, but over time we experience a lot of losses.My advice is better to just trade manually, using your own abilities.
Because eventually more profitable trading manually.

[electronicash]

etoro is a forex broker, i haven't tried them too but if OP will try it i would really be interested to what he will say later after his experience with them. forex brokers are worse than exchanges who asks KYC actually, they even asks for proof of billing and employment records.

you also can not withdraw your BTC Again but they will allow you to withdraw usd.

[BitcoinTurk]

Although the process copy feature seems to be a beautiful thing, it is not really a beautiful and useful thing. You need to have good knowledge of the person you are copying their transactions because you do not know that that person opened those transactions by chance or acted instinctively. On the other hand, on such platforms, you can only have information about the past performance of the person you want to copy. Is it someone who will lose more money with ambition as long as they make a profit or is someone who really achieves their goals by adapting to their own limits? I do not think it is right to copy a transaction without knowing the answer to these questions. In addition, if the capital of the person you are copying the transaction is less in your capital, it should be remembered that you will be harmful in any bad synagogue that will occur. In short, you should not use this feature without having much knowledge about the person whose transactions you will copy. Although the person is successful, if he does not know how to stop and continues to trade in bad market conditions, you will be harmful.

[jostorres]

A newbie account? Check. A link? Check. Shilling a product? Check. Definitely a fake topic just to get some backlinks for affiliate and nothing more at all. I am not going to lie and say I never done something similar in my life, I actually have but at least I have put up a lot more into it than just simply saying people that "oh wow look at this!" and leave, definitely required a lot more work on my part.

Copy trading is not bad by the way, I don't know about etoro because never used it so I can't say anything bad or good about it, but copy trading has been around for decades now, outside of bitcoin world as well. So the trick left here is to find someone who is a good trader, if the person you are copying is a good trader you will definitely make money.

[okala]

I learned something of a recent, if you really want to make money from trade then you should be ready to lose first but many if not all the newbies will not accept this truth. Succeeding in trade take experience and expertise and the only way you can come up with that is through practice.

[Gafman]

I personally don't like the idea of copy trades, though according to my research there's nothing wrong with it

My best advice
Learn Trading, Be dedicated, watch online webinars, create your strategy and hone your skills to perfection with this you are the only limit to the profit/loss you make. Also be in control of your capital, Trust this is one of the best advice I've gotten DON'T LET SOMEONE ELSE CONTROL YOUR CAPITAL!!!

[Maestro75]

Copy trading is not what I will advice anyone to do. I know a trader who is a copy trader. People copy from him and his method was more like "quick in, quick out" kind. He made quick profits but that did not last as a storm came that wiped off all his profit and turned him against those who got trade calls from him. Go learn how to trade and that is better than copying trades.

[Spaffin]

Actually, I like the direction of the question posed and I think that every beginner would like to see a specific answer or an example of how the trade is carried out and what kind of income a trader receives, for example, with daily trading.  I very often resort to the help of different YouTube channels to get new knowledge for trading, as I am just learning, But I would like to see a real example.  I mean exactly what cryptocurrency a trader uses for daily trading, how much coins are allocated for a transaction and what income from the first transaction and what income per day, as well as what time interval traffic is used for analysis.  when receiving such information, it would not be at least possible to be able to follow some indicators in order to achieve better results from your work.