Copy trading profitable?

[Oshosondy]

This is not an advice for any newbie to use copy trading. I have seen many lead traders that are copied but losing. This is just about knowing if lead traders are truly making much money.

I mean lead traders to be those traders that newbies are automatically copying their trades.

Are you a lead trader? If you are, what is the best crypto exchange you can be a lead trader and what is the maximum profit in percentage?

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[Ararbermas]

I never tried copy trading but I've heard that it's profitable but depends on who you want to follow, and they said if you want to enter in it must rely which has more followers because it's legitimate and surely you will become profitable afterwards. . It very common last year tbh, and alot of newbies searching and sharing some good experience about it, i don't if still the same until now..

[Oshosondy]

I never tried copy trading but I've heard that it's profitable but depends on who you want to follow, and they said if you want to enter in it must rely which has more followers because it's legitimate and surely you will become profitable afterwards. . It very common last year tbh, and alot of newbies searching and sharing some good experience about it, i don't if still the same until now..

You do not understand me. I can never copy a trade.

I mean if I join lead trader, is it profitable? That which crypto exchange is best for it to make maximum profit? I have seen many traders with good followers and having losses on an exchange that I am using. I prefer to trade on my own which is best for me. But not bad if people can copy my trade, the reason I ask the question.

[Ararbermas]

You do not understand me. I can never copy a trade.

I mean if I join lead trader, is it profitable? That which crypto exchange is best for it to make maximum profit? I have seen many traders with good followers and having losses on an exchange that I am using. I prefer to trade on my own which is best for me. But not bad if people can copy my trade, the reason I ask the question.

oh I'm sorry mate i never heard lead trader before and i don't have any idea about it so i made research and its different on what I'm thinking on my first post. Lol
maybe making research in the internet will give you more information or why not using the most popular exchanges with high ratings if you want to trade on your own.? Just saying. 

[Ziskinberg]

perhaps, you will know also if that particular strategy(ies) that you have followed is working or not as we are blind enough. I'm not against of doing it because I started trading by using this one, but of course, it was not I want to keep doing this, and that is a reason why I make my own strategies. Maybe you will also think that having our own way of trading will succeed but sometimes it will also fail. As for me, whether it was copy trading or not, as long as we are in profit, that is still fine and I will keep doing that without hesitation.

[Strongkored]

I don't know if being a lead trader will be profitable but if it's not profitable then it's impossible for anyone to want to be a lead trader.
I just know that to be a lead trader must have a not small equity for example on the mexc exchange at least $10000 but for now it's not mandatory
https://support.mexc.com/hc/en-001/articles/10435446316825-The-Beginner-s-Guide-to-Copy-Trade-Trader-
and you must first submit an application and need to wait until your aplications is approved.

[palle11]

I don't know if being a lead trader will be profitable but if it's not profitable then it's impossible for anyone to want to be a lead trader.
I just know that to be a lead trader must have a not small equity for example on the mexc exchange at least $10000 but for now it's not mandatory

I think most of the replies not understanding very well what Op means by lead trader. IMO it is simply the trader that is being copied. That is meaning that trader that the trade orders is being followed or copied by other traders it is not determined by the liquidity or capital of the trader. However most traders that are followed don't make profit all day , they make losses but in trading if you are having more profit than losses then you are better but not all traders that are followed make higher profit than losses.

[cryptoaddictchie]

Ive heard this many times. Actually wanted to try out for some of my funds but I dont know if this is done automatically. I knew this is boom on stocks but Im not sure if there is a platform in crypto that doing the same thing. Probably etoro.

In my opinion, I think its the same as shill by some CT on twitters, whereas you buy what they bought and wait for certain gains. Like a typical call, but copy trade has a function on a platform. Anyone uses this on crypto exchange?

[mk4]

eToro's still the only one decently reputable platform for this as far as I know. But there's a new platform that's getting hyped up called STFX; not saying it's going to be good, but DYOR.

[Eternad]

I never tried copy trading but I've heard that it's profitable but depends on who you want to follow, and they said if you want to enter in it must rely which has more followers because it's legitimate and surely you will become profitable afterwards. . It very common last year tbh, and alot of newbies searching and sharing some good experience about it, i don't if still the same until now..

It became popular as it was advertised and promoted to earn profit like how the profiles of those trades can be copied. Being able to do trade without enough knowledge is too risky. I didn't tried it yet but I don't think it is profitable if keep doing maybe there are instances that we can win through this method but if we don’t know anything about that coon it may lead more into loses. It’s already hard to trust signalsthat were given by paid so called professionals what more if we will just copy their trade without studying. I guess it will depend on who we will follow and if we trust him that much to risk our money without studying.

[avikz]

This is not an advice for any newbie to use copy trading. I have seen many lead traders that are copied but losing. This is just about knowing if lead traders are truly making much money.

I mean lead traders to be those traders that newbies are automatically copying their trades.

Are you a lead trader? If you are, what is the best crypto exchange you can be a lead trader and what is the maximum profit in percentage?

I used to copy trade back in my forex trading days. There were actually a couple of brokers like Etoro, Nforex etc. Who offers such kind of service where you can follow a lead trader and his trades will be automatically copied for you proportionate to your investment.

To be honest, I have never made money out of copy trade. Because at every profitable trade, the lead trader used to take a commission and unless someone has a huge money invested, the profits are usually miniscule.

I have never tried copy trade in crypto though.

[tygeade]

perhaps, you will know also if that particular strategy(ies) that you have followed is working or not as we are blind enough. I'm not against of doing it because I started trading by using this one, but of course, it was not I want to keep doing this, and that is a reason why I make my own strategies. Maybe you will also think that having our own way of trading will succeed but sometimes it will also fail. As for me, whether it was copy trading or not, as long as we are in profit, that is still fine and I will keep doing that without hesitation.

The idea that it’s not sustainable should be implemented, that’s how you managed to start. There are people who think this is the way out of poverty and they will be able to get rich doing this, but the reality is that we are not going to be as rich at all. We are going to follow some people and that’s understandable, but he reality is that we are not going to be rich in the long run by following others and not understanding how it works.

This is why it’s better to learn how to do these yourself, so that you would be able to invest and earn your own money without needing anyone. Sure you started that way, but you learned later on, everyone needs to do that.

[GelatikKembar]

I don't like copy trading for several reasons firstly copy trading is very bad for account security on exchange,
because we include API where all your data is sent to Copy Trading application,
and secondly Copy trading is just a waste of money and it's better to analyze the chart yourself.

[Yamifoud]

I never tried copy trading but I've heard that it's profitable but depends on who you want to follow, and they said if you want to enter in it must rely which has more followers because it's legitimate and surely you will become profitable afterwards. . It very common last year tbh, and alot of newbies searching and sharing some good experience about it, i don't if still the same until now..

It was profitable depending on what strategy you have been following. Most newbies are doing this just for the sake of having an experience but of course, not all it works so well and fast adoption that even it was profitable, losses are still there. But I think the idea to keep doing this is not good as it encourages to make our own strategy because the market behavior has changed and we need also to adapt to the condition of the market making these old strategies may not work well.

[Quidat]

I never tried copy trading but I've heard that it's profitable but depends on who you want to follow, and they said if you want to enter in it must rely which has more followers because it's legitimate and surely you will become profitable afterwards. . It very common last year tbh, and alot of newbies searching and sharing some good experience about it, i don't if still the same until now..

It was profitable depending on what strategy you have been following. Most newbies are doing this just for the sake of having an experience but of course, not all it works so well and fast adoption that even it was profitable, losses are still there. But I think the idea to keep doing this is not good as it encourages to make our own strategy because the market behavior has changed and we need also to adapt to the condition of the market making these old strategies may not work well.

Follow trading is never been a good thing on making yourself learn about it.Its better to stick into manual.Main reasons on why newbies do tend to follow is that they are
going for the easiest way on making profits and this is where things ends up on which they do plan to follow someone.I do hear off on eToro which there are lots of feedbacks
that there are people who do really make money with that but i dont really believe that it is really that something worth to do so.
People who are on those been followed are the ones who really make money due to those fees i believe.

[adaseb]

The reason why many exchanges allow this is because they know that the retail Public has no idea how to actually trade. So they provide these copy trader services because they make money off the commission.

The issue is that eventually those who run the signals eventually end up blowing their accounts and so does everyone who copied them. It’ll work for a while until it doesn’t pretty much. You can’t make any money long term with such services.

[Odusko]

I prefer to trade on my own which is best for me. But not bad if people can copy my trade, the reason I ask the question.

Trading has many mechanisms and copying another trader is like borrowing from his knowledge and tools, some leader traders with large followers go as far as even charging some percentages from the trades you copy them.
But as you said following your design pattern of trading is the best way, because you will understand your trading environment better and you will easily win the trade.
So, the best way is to develop your trading tool with the help of the knowledge you, get from others.

[Oshosondy]

Anyone uses this on crypto exchange?

I have not used it on any crypto exchange before, but on Binance, I saw TraderWagon which you will link your Binance account with to be able to be a lead trader or if you want to copy trade. Even without registering, on Binance, you can see the positions taken by first 50 lead traders. There are other exchanges I also heard about like eToro, Bybit, MEXC, Gate.io and some others. But I do not know how reputed many of the exchanges are.

eToro's still the only one decently reputable platform for this as far as I know. But there's a new platform that's getting hyped up called STFX; not saying it's going to be good, but DYOR.

Can you let us know more about eToro, I haven't registered on the site yet. What criteria are needed before being a lead trader on the exchange? I mean the minimum amount of money needed by lead traders to open position. Also what is the maximum amount of profit in percentage that is deducted from people that copy lead traders that would be paid to the leader trader? And also what other profit do lead trader gets, like from trading fee and others?

I don't like copy trading for several reasons firstly copy trading is very bad for account security on exchange,
because we include API where all your data is sent to Copy Trading application,
and secondly Copy trading is just a waste of money and it's better to analyze the chart yourself.

Never mind me, I also wants to ask this question too, I noticed on Binance that before you can be a lead trader or copy trader, you have to register on another site, link you Binance account to it and Binance indicate that your KYC including your personal documents are also connected and known by the other platform which is TraderWagon. I too think this can result to KYC danger issues.

[Franctoshi]

Copy trading is good if you're copying the right trader, If you don't have time to trade or don't want to learn trading ,if trading is not going well for you, And if you really want to leverage from trading because trading is actually not meant for everyone. There are good lead traders out there you can copy, but it will take you a lot of work, time and research to actually find a profitable lead trader to copy and you could do this by

1.spending time to go through the traders trading history and look at his previous performances ,
2.how many person's are copying his trades and
3.how he recovers a lose trade each time he looses a trade, this are factors you pay attention to when trying to copy a lead trader.

[tvplus006]

I don't know if being a lead trader will be profitable but if it's not profitable then it's impossible for anyone to want to be a lead trader.
I just know that to be a lead trader must have a not small equity for example on the mexc exchange at least $10000 but for now it's not mandatory
https://support.mexc.com/hc/en-001/articles/10435446316825-The-Beginner-s-Guide-to-Copy-Trade-Trader-
and you must first submit an application and need to wait until your aplications is approved.

On the Bybit.com exchange, it is much easier to get the status of a trading lead in financial terms, for this you need to deposit only $100 - https://www.bybit.com/copyTrading/en-US/master-trader But in addition to $100, you must produce a win rate of more than 60% or, oren ROI that is greater than 30%.