Copy Trading...

[Fortify]

You should be very careful using copy trader functionality and try to get as much history as possible about the person you are following. You also have to bare in mind that the platforms have great incentive to look like there are successful traders, because it draws in more money and at the end of the day - the control everything that you see one the platform. Very few of these platforms ever get any sort of external and independent auditing. Remember that statistics can be misrepresented, it is possible someone just had a good couple months: Now a Covid vaccine has just been announced, the whole stock market has shot up so it may give a very distorted view on all returns for the next year and it doesn't necessarily mean you are copying someone with exceptional skills.

[qory]

I'm not really familiar with copy trading but it looks pretty helpful especially for the newbies. What could be the cons of it for using beside from the newbies wasn't able to get real trading experience from copy trading.

[FanEagle]

If there were something like explanation I would get involved too. Copy trading has been a thing for a while now but unfortunately since the start of it, there hasn't been any improvements on the system so far in anywhere.

Even in the most known places and even on the most visited websites, copy trading was created and stayed that way since the start, that is why I think it is highly important that these type of places start adding new features and changing some stuff, as long as they stay as the same place, I doubt they could get a lot more customers, they are going to stay at the same numbers for a long time and even lose some customers to other stuff that is not copy trading. Hence I think explanation would be a great deal, anything else they could add would be improvement as well.

[TheUltraElite]

I'm not really familiar with copy trading but it looks pretty helpful especially for the newbies. What could be the cons of it for using beside from the newbies wasn't able to get real trading experience from copy trading.

No fellow bitcoiner, it is a gimmick. Let me explain it.

You are copy trading when you are simply following a bigger trader and copy pasting their trades in your orders. The may seem like a nice way to make profit but honestly, if it was so possible would the copy traders not have become millionaires themselves in the first place? Think about it, its not to. You understand the similarity of the confidence trick done with ponzi schemes here?

Majority of people talking about copy trading are scammers looking for money. They tell you that they are selling you the lists from bigger traders but it is complete lie. Orderbooks are open true, but orders made by whom are never open to others.

It ends up being a pump and dump and you are dragged into buying shitcoins while the bigger whale who told you to buy it, sells.

[michellee]

I don't know about copy trading because I don't try it before. I only think that if you can find a good trader who you can copy his trade, I think you can make a profit, but if it's not, you will not make a profit. I am sure many traders share their trade with the public and attract people to copy their trade. Still, it needs more knowledge to find that good trader to help us to make a profit.

But you should manage your money that will be used for copy trading, and don't use too big money if you are not sure. That will be a mistake if you just copy trade from a trader without searching for how good his trade because that can lead you to lose your money.

[sana54210]

I feel like if you could make a social media type of exchange website with copy trading and traders who are listed constantly by their earnings and followers and likes and dislikes and subscribers and many stuff like that, just like regular social media such as instagram or twitter but also add crypto exchange features such as binance or kucoin and also have copy trading involved, you could actually have something very good.

People would be talking and chatting and basically enjoying crypto purely on social media part if they want to, people could trade however they want without caring about others just like they do in binance, but there will be copy trading feature that combines these two things together if they want to use. Do not make it one way or another, make it anyway people want to use.

[Ridwan Fauzi]

However, spending money to follow other people suggestion is bad in any field. You can't stand by yourself and you didn't know to resolve your problem especially when you are in a loss situation. Trading really requires your skills, especially you have to make a decision as quickly as possible. And I guess, all people can do that as long as he is diligent to find more information and the knowledge about it.

Also, I have several times to try copy trading in an exchange, but I'm not satisfied when I got profit because I earn money in other people's ways and when I got loss I just angry to the trader that I follow. It really different when I trade by my strategy and my analyst. I'll happy when I got profit because it can improve my confident to the strategy that I make and I'll make more evaluation when I got loss to avoid it in the next trade.

[Golftech]

I'm not really familiar with copy trading but it looks pretty helpful especially for the newbies. What could be the cons of it for using beside from the newbies wasn't able to get real trading experience from copy trading.

In the positive side of it yes it's a good way for those newbies to simply copy someones porfolio and wait for the results, chances that it will be beneficial if those copied trading position materialized, in the otherside, possible also that those position can easily manipulated that only cause those newbies to lose their investment, it's always better to learn it by yourself and work with your money instead of doing this.

[SektorPiii]

If you are going to make trading your main occupation, in any case, you need to understand the market and acquire new knowledge, including learning from your mistakes. Just copying will not lead to the desired results, this is my opinion.

[CryptopreneurBrainboss]

so simply copying or waiting, subscribing for trade signals is not a bad idea, as for me I prefer copying trades because I'm not perfect in analysing markets for myself rather looking from professional grows my portfolio.

If you're intentions are that you'll only rely i this signal providers until you have been able to stand and start working in your own trading strategy then it'll be understandable by me but if you basically just want to wait in other to predict the market for you then you follow, you're definitely doing it wrong.

The professional traders we have today all stater as a novice and if they were to rely on others probably they won't be called the bests today. They earned that with their own strategy, from mistakes upon mistakes until they were able to perfect their skils.

Copy trading makes you lazy, it makes you lose focus and get distracted with the pump and dump shit you're been fooled with as must signals providers don't analyze the market but just make picks based on what they fav.

[Yatsan]

Copy trading can do have both good and bad effects for a trader. Good effect is for the inexperienced trader to still be able to do trading even without experience and prior with such thing can still make him profitable on the field of trading. The bad side is that copy trading can also lead a trader to be ignorant and become reliant into other traders strategy and will not be able to do trading on his own way. Which such dependency on copy trading, you are still putting yourself into the risk for you certainly not sure if the ones you are copy trading can lead into success or failure. Nothing is wrong in copy trading. It is just that you as a trader must learn to still do trading on your own without being reliant into anyone or anything.

[TitanGEL]

Copy trading can do have both good and bad effects for a trader. Good effect is for the inexperienced trader to still be able to do trading even without experience and prior with such thing can still make him profitable on the field of trading. The bad side is that copy trading can also lead a trader to be ignorant and become reliant into other traders strategy and will not be able to do trading on his own way. Which such dependency on copy trading, you are still putting yourself into the risk for you certainly not sure if the ones you are copy trading can lead into success or failure. Nothing is wrong in copy trading. It is just that you as a trader must learn to still do trading on your own without being reliant into anyone or anything.

Copy trading can benefited you where you can get passive income even if you have work or if you have busy schedules. It is better to make investment that to save your money in banks and it is the reason why I suggest some of my relatives to just do copy trading if they do not have time to study trading. There are two bad sides that I saw, first is the profitability of copy trading; not all of copy trading are profitable so make sure that if you will do copy trading, you will copy those professional traders out there that can give you high returns. There are instances that the copier is experiencing losses because he copied a trader that is not profitable in the market. The 2nd is you cannot gain experience because you are just the copier and you are not the one who are executing the trade.

[LUCKMCFLY]

I have never done that practice, although the idea of ​​copying sounds very good, if you make a profit it is something spectacular, but I value much more if I win due to my own trading decisions, because if I lose I simply take my loss and learn from it, and If I win I learn why I won, I think that by learning the chances of continuing to be successful increase.

[ardentvolcanoes]

I have never done that practice, although the idea of ​​copying sounds very good, if you make a profit it is something spectacular, but I value much more if I win due to my own trading decisions, because if I lose I simply take my loss and learn from it, and If I win I learn why I won, I think that by learning the chances of continuing to be successful increase.

Experienced will allow you to enhance more, I see this kind of feature from the net where you can copy traders positions, you can simply choose

whoever trader that you think got a good winning experienced, after you deposit your money all you have to do is to copy the trader portfolios

and wait, the platform will allow you to monitor the movement if the trader got a good run then you'll be compensated.

Not very familiar but just seen from YouTube ads, E-toro i think.

[iv4n]

Well it's easy to talk about copying good trades, but where to find good traders with high profit rate willing to share their trades? It's sounds perfect, you don't need to think about anything, to do anything, you just copy/paste trade and profit comes... like in some beautiful dream!
I didn't have luck to find a good trader who is willing to give me  to copy/paste trades from him, I do it in my own way! But I am open for that possibility, that's for sure!

[Twinkledoe]

Well it's easy to talk about copying good trades, but where to find good traders with high profit rate willing to share their trades? It's sounds perfect, you don't need to think about anything, to do anything, you just copy/paste trade and profit comes... like in some beautiful dream!
I didn't have luck to find a good trader who is willing to give me  to copy/paste trades from him, I do it in my own way! But I am open for that possibility, that's for sure!

There is one popular platform that offer copy trading services, which is etoro. But don't know if they are really worth paying for. No experience from any copy trading services as I do my own trades. Finding a good one that suit your needs will really be a challenge. So why not enhance your skills in trading instead? In this way, you don't have to chase anyone and it will be yours forever.

[TradingBull.io]

Copy trading is fine on highly liquid and large market cap assets.

When cap and/or liquidity is low, it can turn into some pump and dump schemes where pro traders use followers as a leverage for quick profit.
Some platforms as etoro only trade large cap assets which acknowledge for this risk by default.

[boyptc]

Copy trading is fine on highly liquid and large market cap assets.

When cap and/or liquidity is low, it can turn into some pump and dump schemes where pro traders use followers as a leverage for quick profit.
Some platforms as etoro only trade large cap assets which acknowledge for this risk by default.

That's one kind of copy trading.

But that won't teach the individual trader to grow in this market if he's just going with the group that he joined. Pump and dump groups are tricky, they will make you profit and look that you really are.

[Mahanton]

Copy trading is fine on highly liquid and large market cap assets.

When cap and/or liquidity is low, it can turn into some pump and dump schemes where pro traders use followers as a leverage for quick profit.
Some platforms as etoro only trade large cap assets which acknowledge for this risk by default.

That's one kind of copy trading.

But that won't teach the individual trader to grow in this market if he's just going with the group that he joined. Pump and dump groups are tricky, they will make you profit and look that you really are.

For long term aspect then it is really worth if you do learn for yourself and not to rely with bots because you wont really be that independent if you do
keep on copying others calls and tips.. Some people do really rely with this copy trading because they do love that have an easy life and easy profits.
Yes, they can earn money on passive but once these traders stopped on letting people follow then what would you do? Also
not all calls and tips are that precise or profitable no matter how good the trader is you cant really make out some guarantees.

[DevilSlayer]

I have never done that practice, although the idea of ​​copying sounds very good, if you make a profit it is something spectacular, but I value much more if I win due to my own trading decisions, because if I lose I simply take my loss and learn from it, and If I win I learn why I won, I think that by learning the chances of continuing to be successful increase.

Experienced will allow you to enhance more, I see this kind of feature from the net where you can copy traders positions, you can simply choose

whoever trader that you think got a good winning experienced, after you deposit your money all you have to do is to copy the trader portfolios

and wait, the platform will allow you to monitor the movement if the trader got a good run then you'll be compensated.

Not very familiar but just seen from YouTube ads, E-toro i think.

Even though the copy trading can give you huge returns for me it is still not good to do it. I have an account in Etoro and I tried it once but not in real portfolio and only in virtual portfolio. So, for those who do not know what features of it, Etoro have a features of having 2 portfolio the 1st is real and the 2nd is for virtual so basically the 2nd is just a practice portfolio where you can do anything without worrying because the money there is just for practice trading. The only good thing in copy trading is you can see the portfolios of other trader where you can study why did they buy because in copy trading the time of buy and sell are also indicated where the copiers can also see it. The bad thing is it makes you a trader without having self-conviction wherein you are just becoming dependent in the trader who you keep copying.