Copy trading profitable?

[Oilacris]

I never tried copy trade before and based on how was taught then I was advised not to copy trade because you don't know how financially bouyant  the person you are trade is because you might copy and run lost at last before even the person you are copying loses. A simple words to those trading today is to make more efforts to get the best knowledge, do more research or study lots material online because the person you may sees as an expert might not be knowledgeable enough to make profits from his trades than letting newbies to copy trades from him.

Its never been advisable on making yourself that copy trading and it would be better if you do make yourself that able to learn with those basic principles of trades and make yourself that experience enough

on handing your trades on this unpredictable market without the need on relying on someone.Someone said its profitable and there are ones who do said that its never been good but on general essence

you cant really make sure of these guys on making profits constantly.They wont really be letting on someone to follow up their trades if they were really able to make money constantly.
They wont really be minding about peanut subscription fees.

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[Bhig Daddy]

Many exchanges permit this since they are aware that the general public has no knowledge how to truly trade, which is why they do so. They offer these copy trader services as a result since they profit from the commission.

The problem is that both those who ran the signals and those who duplicated them eventually blow their accounts. It will essentially work up until the point where it stops. With such services, you cannot make any money over the long term.

[Hypnosis00]

Copy trading is good but you have to choose best trader who has performed very well in past. A good and genuine way to make some good income. One things always remember that nobody in this world is god to do exactly same as they want in trading so loss can be a part of copy trading as well apart from that copy trading can give some good profit because these trade handle by big and experienced trader.

Well, you can see a lot of people or traders claimed themselves to be good at this field. You can hear a lot of promises bringing you to what you want to expect from them. Many people got fooled by this trick, many people do copy trading and even ask for someone to accompany them.
I believe the side of being a lead trader is somewhat profiting but I'm not sure and doubted if those who copy and rely on his signal and strategies got some. But I think this kind of work won't able to be profitable long-term because as to the moment that these new traders will learn trading, most likely they will find a way to make their own as well.

[cozytrade]

It is profitable as long as whom you are copying knows how to trade. You need to be dependent on someone else for your funds. Your loss and profit both will be in someone else hands. If you do not have time to sit in front of the charts, it will be better to use copy trading. Copy trading will only be profitable if the main users made profits. It's a bit risky and avoidable if possible.

If you are really that busy then grid trading can save time and lower your risk simultaneously. You just need to define the price range of your trading currency pair and the number of grids you want to put there. The trading bot automatically buys low and sells high on your behalf as long as the price stays within that range. Very simple but effective if used for the long term.

[LUCKMCFLY]

Copy trading is good but you have to choose best trader who has performed very well in past. A good and genuine way to make some good income. One things always remember that nobody in this world is god to do exactly same as they want in trading so loss can be a part of copy trading as well apart from that copy trading can give some good profit because these trade handle by big and experienced trader.

I haven't tried yet but do you need to pay for the traders as well? I rather make my own trade that even I will lose sometimes at least I learn and I am expose to different things in trading. but then if people want to use and to try copy trading it is up to them, and the money they will be getting its up to them. but for me, I won't recommend it maybe because I am not used to it.

I have a friend who is a Youtuber, and he made a lot of money in 2017, in fact he taught himself, of course he made a lot of money because he caught a bullish Bitcoin market, that's when it went up to almost $20k, then the altocins he bought, he became a altcoins that rose a lot in price, currently he is dedicated to being a trader who offers a copy-trading service, but still I don't trust him, he does a lot of technical analysis, and I think he knows the tricks the most and that's something that anyone can get a tutorial from any page, so you have to be very careful with which trader you have to take this strategy, because that friend for the era when BTC fell a lot he had too much money.

[TimeTeller]

Copy trading is good but you have to choose best trader who has performed very well in past. A good and genuine way to make some good income. One things always remember that nobody in this world is god to do exactly same as they want in trading so loss can be a part of copy trading as well apart from that copy trading can give some good profit because these trade handle by big and experienced trader.

I haven't tried yet but do you need to pay for the traders as well? I rather make my own trade that even I will lose sometimes at least I learn and I am expose to different things in trading. but then if people want to use and to try copy trading it is up to them, and the money they will be getting its up to them. but for me, I won't recommend it maybe because I am not used to it.

I have a friend who is a Youtuber, and he made a lot of money in 2017, in fact he taught himself, of course he made a lot of money because he caught a bullish Bitcoin market, that's when it went up to almost $20k, then the altocins he bought, he became a altcoins that rose a lot in price, currently he is dedicated to being a trader who offers a copy-trading service, but still I don't trust him, he does a lot of technical analysis, and I think he knows the tricks the most and that's something that anyone can get a tutorial from any page, so you have to be very careful with which trader you have to take this strategy, because that friend for the era when BTC fell a lot he had too much money.

Just think that they are the same individual like you, relying on their experience to get a hold of those tips and tricks.
It is not all the time that they are correct with their predictions, but they can minimize losses by applying those tips.
It would take experience to spot a failing project and a lot of reading or research to know what's going on with the project.
So for sure, he is not trading blindly but using all the information that he gathered throughout the years to act on certain investment.
But as much as possible, better do your own trading to equip yourself in this market rather than relying on someone's skills.

[goaldigger]

It is profitable as long as whom you are copying knows how to trade. You need to be dependent on someone else for your funds. Your loss and profit both will be in someone else hands. If you do not have time to sit in front of the charts, it will be better to use copy trading. Copy trading will only be profitable if the main users made profits. It's a bit risky and avoidable if possible.

You’re lucky if you found someone who really share their strategy in a more honest way though it can cost you some big fees but if you think it will be worth it, them you can do if. Some group offering a legit signal, you can copy that and make some profit as well. Though eventually, it is still better to have your own trading strategy, it’s too risky if you are going to depend on any signal in the long run, You should improve yourself as time goes by.

[harizen]

Currently he is dedicated to being a trader who offers a copy-trading service, but still I don't trust him, he does a lot of technical analysis, and I think he knows the tricks the most and that's something that anyone can get a tutorial from any page,

As a copy-trader (lead trader) in a trading platform or owned service?

If the former, on what platform he intends to be a lead trader? If the latter, I think that was just the same as those who provide signal service which likely won't be that hyped even how good your friend is since in most cases, that service is crap and ended up in a scam.

It's hard to be one of those traders that would be eligible as can be copied by those who will use the copy-trading feature. Like in the Etoro platform, I heard that trading stats there should be really decent and impressive before being one of those traders that can be copied. That's the reason also why copy-service on that platform is really expensive and out of reach by those small traders. Not sure though what's the current price of that service.

[Minecache]

It is profitable as long as whom you are copying knows how to trade. You need to be dependent on someone else for your funds. Your loss and profit both will be in someone else hands. If you do not have time to sit in front of the charts, it will be better to use copy trading. Copy trading will only be profitable if the main users made profits. It's a bit risky and avoidable if possible.

If you are really that busy then grid trading can save time and lower your risk simultaneously. You just need to define the price range of your trading currency pair and the number of grids you want to put there. The trading bot automatically buys low and sells high on your behalf as long as the price stays within that range. Very simple but effective if used for the long term.

I know some exchanges have this feature, but actually I never tried it because I don't trust anyone in this market but myself. I have a question, if we copy trades, do we have to pay fees to the exchange or the person we copy? and in case we lose, do we have to pay that fee? If there was a policy where we actually pay as we make a profit, that would be great.

I don't believe in groups of trading signals because most of them are scams, trading bots are also too risky because they are only pre-programmed and not analyzed like us. Copy trading seems more realistic than the other two methods. If what you say is true, maybe I will try to research them.

[Junii]

I never trade copy trading but i heard from many friends that do copy trading they said to me that copy trading is one of the easiest way to use another trader's expert knowledge. It also means that you don't lose any control over the outcome. You still have the ability to close trades, and open new ones when you want. But by copying another trader, you could potentially make money based on their skills expert knowledge. It also means that you don't lose any control over the outcome. You still have the ability to close trades, and open new ones when you want. But by copying another trader, you could potentially make money based on their skills.It is good for beginners because they use another persons experience.

[tvplus006]

It is profitable as long as whom you are copying knows how to trade. You need to be dependent on someone else for your funds. ..

It is equally important, in addition to choosing the right lead trader, to set up your account correctly to copy trade, observing the rules of risk management. For example, if you set up your trading with a leverage higher than that set by lead trader, then you may be able to get a higher profit, but in the end you will still lose your money.

[CryptoYar]

I haven't tried yet but do you need to pay for the traders as well? I rather make my own trade that even I will lose sometimes at least I learn and I am expose to different things in trading. but then if people want to use and to try copy trading it is up to them, and the money they will be getting its up to them. but for me, I won't recommend it maybe because I am not used to it.

I have never used it either. But I have heard from some people that you have to pay a fee to the trader whose trades you copy. Although I don't know whether you have to pay fees on every trade you copy or only trades that make profit with.

If this fee is to be paid only on those trades in which you make profit then it is good. I think it is beneficial, especially for newbies. If they choose a good trader

[Luzin]

If this fee is to be paid only on those trades in which you make profit then it is good. I think it is beneficial, especially for newbies. If they choose a good trader

Is there anything like you said. I think it's very rare. They still won't give a guarantee to their followers. Even as I know they still say DYOR. I think if that continues to be done then you will lose. You will continue to rely on others.
Maybe a while you come along and take the knowledge of analysis is better. Because myself come from not understanding. I'm just learning on my own and continuing to learn from the mistakes I've made.

[Tony116]

I haven't tried yet but do you need to pay for the traders as well? I rather make my own trade that even I will lose sometimes at least I learn and I am expose to different things in trading. but then if people want to use and to try copy trading it is up to them, and the money they will be getting its up to them. but for me, I won't recommend it maybe because I am not used to it.

I have never used it either. But I have heard from some people that you have to pay a fee to the trader whose trades you copy. Although I don't know whether you have to pay fees on every trade you copy or only trades that make profit with.

If this fee is to be paid only on those trades in which you make profit then it is good. I think it is beneficial, especially for newbies. If they choose a good trader

I have never tried it either, but if what you say is true, I will definitely give it a try, which means we will only pay fees on trades where we are profitable. This is an extremely good thing for everyone, not just newbies, who don't have too much time to analyze can also make money this way and traders with followers if they want to get more commission they will have to put in more effort. But I think it won't be that easy, right?, we will pay fees for all trades including losing trades.

[MainIbem]

From my little observation I don't think a copy trade is best to do as a beginner or newbies instead self engaged trading or study from various angles to get the basic understanding or such person stand a chance to be newbies always or remains copying all time because he is not physically, mentally excercising his brain to acquire more knowledge on how to further advance in trading rather than just copy trade.

[tvplus006]

...we will pay fees for all trades including losing trades.

You will pay lead trader only for successful trades. For example, the commission of a leading trader on the Bybit exchange is 10% of your profit, which will be charged automatically after the order is closed. But in addition, you will pay a commission to the exchange for each order opened and closed by you.

[Captain Corporate]

It is normal not to pay someone for lost trades, and its not easy to be a trade leader neither, so those are understandable positives of it. However, the negative part is that, I can tell you 100 trades, and if even only 10 of them are profitable, I will earn %10 of that, and then if 100+ people join, I will make more than each single person. Thats sut not understandable, they are losing when we are losing, but they are earning when we do. Meaning, they can just put up all kinds of suggestions, only to hope one of them sticks, and not really aiming at finding anything good, just trying to put up as many examples as possible as the goal.

[erythia]

Anyone here actually successful in copy trading? If so, can you share who are the top 3 traders you copy and which software you use?

[tvplus006]

Anyone here actually successful in copy trading? If so, can you share who are the top 3 traders you copy and which software you use?

If you open your orders with high leverage, you will lose your money sooner or later, no matter how successful the trader you copy is. Please note that lead trader almost always opens orders with a leverage equal to one, which allows him to hold a losing position for a long time if the price goes in the opposite direction to expectations. In this case, your order, if it is opened with a large leverage, will simply be liquidated.

[Oshosondy]

If you open your orders with high leverage, you will lose your money sooner or later, no matter how successful the trader you copy is. Please note that lead trader almost always opens orders with a leverage equal to one, which allows him to hold a losing position for a long time if the price goes in the opposite direction to expectations. In this case, your order, if it is opened with a large leverage, will simply be liquidated.

With what I checked on Binance about the leverage used by lead traders, I have noticed that they use 1x leverage. To know if they use 1x, this can be calculated or guessed from the price of the coin used to open a position and the return on equity percentage. On Binance, you can not go below 1x, even possible some may still average in a way they may not trade at first with all their total trading money which we can assume to be less than 1x leverage.