Can copy trading be profitable

[KiaKia]

I've used Bitget exchange for copy trading and I was able to make 500$ for the first week and on the second week I started losing money, I was left with 300$ from the first week and I have to quit, the problem with copy trading is you won't know how good the trader is, if you want to do copy trading.   


1. Make sure the trader are well rated, by other people copying his trading.
2. Always use stop loss, have a target you are willing to risk because sometimes trading always go wrong and you will be back to square one.

I think using AI for trading is more convenient than copying others,  you can tell the AI what to do when the market reaches a certain point, mind you it's still possible to lose money with AI but it gets the job down better.

[bettercrypto]

Is copy trading worth it

Can I make 20$ per day if I have 2000$

I don't think I've ever seen anyone testify that those who tried this copy trading made money. Although, I see a lot of influencers who say in their ads that they make a good and big profit from copy trading. But obviously they only said that because they were paid for that advertisement.

       Also, anyone can make money here but most for sure don't either. It's just like gambling, most people lose when playing gambling, it's the same with trading, most people lose all the time and only a few make money unless you are a pro trader. And 20$ a day if your a newbie is not that easy to get it particularly if you are zero knowledge yet in trading here in cryptocurrency.

[bitzizzix]

I think the copy trading strategy is great for those who don't have enough experience or time to make their own investments. But you still need some knowledge of copy trading before doing it, as it helps these players build portfolios and gain reputation. Apart from that, this investment strategy also teaches beginners on the way.
and most importantly you have to do research on the traders that you will imitate and also have to choose traders who are professional and also have a lot of experience and good tracks that are always profitable, so you can also benefit.

[michellee]

Is copy trading worth it

Can I make 20$ per day if I have 2000$

I don't know because I've never tried it. But maybe it depends on the trader you choose because if that trader has a good trading record, he can also bring you good profit. But you should not need to rely on other people in trading and better learn to trade yourself.

And if it can really be obtained, I think people will follow those traders because they really hope to make a profit without doing anything. But if that merchant loses, all those who follow him will also lose. This is a risk you should be aware of.

If you are willing to take the risk, you can try it and share your experience here so we can find out too. But like I said, you better learn to trade so you don't rely on other people. After all, it's your money so why should you risk following someone you don't know?

[inthelongrun]

OP, it is very possible to earn $20 or even more in day trading with a capital of $2k because that is only 1%. The problem however is the consistency. I really doubt it. I did this many times before and sometimes with even less than a 1% daily target but it didn't work out.

Are you busy in life that you cannot study trading? Just learn the basics and then start finding someone you can copy trade on Twitter or Telegram or Tradingview. Avoid paying to day traders offering you copy trades or signals because most of the time it won't work. I also tried paying traders to receive their signals or copy trade because I was also busy with my regular work before so I thought I can have another source of income while free from the stress of analyzing the charts. All of them did not work, there are days that are profitable but there are bad days as well.

[The Cryptovator]

To be honest, I am not well-versed in copy trading. However, I find it highly unlikely that you can make $20 per day with an initial investment of $2000. It's difficult to predict with certainty that you will consistently profit in such a scenario. If the market charts indicate a downward trend, you may end up losing money instead of earning profits. I admit that I may not be fully informed about the specifics of copy trading, as my knowledge on the subject is limited and I haven't conducted thorough research on it.

[panganib999]

Is copy trading worth it

Can I make 20$ per day if I have 2000$

A good chance yes, But I don't think the idea really works per se. Cause once you realize how trading works you'd find that no one really knows jackshit about the market, not even the veteran traders out here know if the market's gonna go up or down or do a sommersault tomorrow. it's all educated guesses, predictions, inferences. No definite answer whatsoever, this isn't to say that trading's easy, cause you still have to study a couple of things in order to make guesses that make sense otherwise you're just blabbering nonsense. So I assure you, if you can make 20 bucks everyday from copytrading (which I know you would, a couple blokes I know make more in a day consistently through short trades), I'm pretty sure given time you'd find that you can do it as well on your own. Takes time and some studying though.

[serjent05]

Is copy trading worth it

It is worth to copy trade when you are copying a genius trader.  So I can say the answer is dependent on who you are copying.  If you copied a trader that do not know what he is doing then you are in for a big loss but if the trader you are copying is a great trader then it is all good.

Can I make 20$ per day if I have 2000$

You can,  $20 is just 1% of your capital and if you have copied a good trader, that would be easy.

OP, it is very possible to earn $20 or even more in day trading with a capital of $2k because that is only 1%. The problem however is the consistency. I really doubt it. I did this many times before and sometimes with even less than a 1% daily target but it didn't work out.

consistency won't be a problem the moment @OP learned the inside and out of trading.  Since he is only aiming for 1% of his trading capital I think it is doable.

[Dr.Bitcoin_Strange]

I have not copied traded before; I was looking at doing that before I got engaged in other activities and totally lost interest in trading, but I have a friend who does. Making 1% on your capital per day is nothing much, but just as the saying goes, "every day is not Christmas." Not every day will you be counting the 1% profit; some days you might not even make any profit at all, and some days you will lose money because the market is always dynamic and no one can predict it 100% accurately. Perhaps the trades you copy are from other traders, so if they encounter losses on their trade for that day, you definitely will too.

In copy trading, those brokers or exchanges that show you trade to copy are doing so based on the analysis of other traders. When they see that a particular trader is actually making more profit in their trade, they will show you those traders, the numbers of trades they have made, and the level of success of the trades they have made, and you will be left with the choice to select the trade you want to copy. What I am saying in essence is that the trade you copy is from other traders, and if they lose in their trades, you will also not make a profit from that day but encounter losses too.

[Issa56]

Is copy trading worth it

Can I make 20$ per day if I have 2000$

Why do you want to copy trade? I don't think their is anybody that will assure you that you will be making certain amount of money everyday in trading, am sure only people that are into ponzi scheme will give you that kind of  assurance. In trading their is always profit and lose, sometimes you will make and some times you will lose, so no assurance in trading, don't be deceived by people saying its just 1% of your capital that you can do it, just have it in mind that their is no assurance in trading.

Also why don't you just learn how to trade yourself, if you really want to be making money from trading, their are books you can read and you will learn easily, their are YouTube videos you can watch, I think it will be better than you looking for people to copy their trades. Don't think you can't do it since you don't know anything about it, everyone was once a novice, but you can build yourself gradually to become a professional. I won't encourage you to go for copy trading or trading signals.

[blockman]

Is copy trading worth it

Can I make 20$ per day if I have 2000$

Yes, you can make that per day with the amount but do you think that you alone can do that? I haven't done copy trading but based on those that have done it, it's no different from trading alone. You'll get to learn from doing it on your own rather than relying on someone's trade.
You may also regret that you've done copy trading when the trader you've copied isn't doing well and those stats that have been shown are just for the glance upon you've seen it. So, to answer if it's worth it or not. It's worth it if you've done it actually and you've made a decent amount of money from there. But for the majority, you'll hear us say that you better trade on your own and not do copy trading as if you're just letting your money have its results through the hands of other people.

[sheenshane]

Is copy trading worth it

Can I make 20$ per day if I have 2000$

That's possible but of course, there's a risk and also there's no guarantee about it.
But first, choose the reliability of the platform you use that offers a wide range of traders to copy, and consider diversifying your investments across different traders to mitigate risk.  IMO, the eToro exchange platform could be the potential one when it comes to copy trading.

So if you have $2000 and you want to make $20 per day through copy trading, that's possible but still it depends on the performance of the traders you are copying and also the fees charged by the platform.  In short, there are too many factors that you must be considered.

So if you'll try, good luck with your decision.

[Josefjix]

Is copy trading worth it

Can I make 20$ per day if I have 2000$

Copy trading is preferred, but it is primarily dependent on the transaction you want to mimic. Not in a hurry to choose, rather settle and take your time to map out the trade that interests you, after all, there are an infinite number of trades to copy from in the market. I would advise you to always choose the one with the fewest losses and the best odds of winning. It's easier to generate $20 a day with $2000 capital if the trade you're copying is profitable. Your winnings for the day will exceed your targets, but keep in mind that not every day will be a lucky day; some days, losses will count; that's how the market works. Even professional traders record trade losses from trades, so yours is not an exception.

[TimeTeller]

Is copy trading worth it

Can I make 20$ per day if I have 2000$

Copy trading is preferred, but it is primarily dependent on the transaction you want to mimic. Not in a hurry to choose, rather settle and take your time to map out the trade that interests you, after all, there are an infinite number of trades to copy from in the market. I would advise you to always choose the one with the fewest losses and the best odds of winning. It's easier to generate $20 a day with $2000 capital if the trade you're copying is profitable. Your winnings for the day will exceed your targets, but keep in mind that not every day will be a lucky day; some days, losses will count; that's how the market works. Even professional traders record trade losses from trades, so yours is not an exception.

There are variables to consider when it comes to profitability, the coin or token you are dealing with itself is the main actor here.
If you have no idea with the project you are trading with, the likelihood of losing is very high as you are blindly getting involve.
Much better if you will do your own trading as you can get the grasp of the trading itself.
No one can guarantee that you can profit from copy trading as these traders are also humans who are also prone to mistakes.
They also can't control the trading itself as they are also acting based on their instincts and acquired skills.

[Jody.Drummer]

Is copy trading worth it

Can I make 20$ per day if I have 2000$

Yes, you can make that per day with the amount but do you think that you alone can do that? I haven't done copy trading but based on those that have done it, it's no different from trading alone. You'll get to learn from doing it on your own rather than relying on someone's trade.
You may also regret that you've done copy trading when the trader you've copied isn't doing well and those stats that have been shown are just for the glance upon you've seen it. So, to answer if it's worth it or not. It's worth it if you've done it actually and you've made a decent amount of money from there. But for the majority, you'll hear us say that you better trade on your own and not do copy trading as if you're just letting your money have its results through the hands of other people.

There's nothing wrong with trying copy trading, but we have to really think about whether we will regret it if the trades we follow suffer losses. Don't talk about profits yet, because it is clear that our goal in trading is to make a profit. But let's look at the worst possibility of copy trading, which is when you experience a loss. I personally would regret it more if I lost money on other people's analysis, because I didn't know and couldn't learn the reasons that made me suffer losses. Meanwhile, when we trade with the results of our own analysis, at least we know what mistakes we have made when doing the analysis.

[Patrol69]

It is easy to earn 20$ per day from 2000$ but first you need to do trading in the right way. If you don't have enough experience in trading without having a good idea about trading or not trading in the right way, you can lose your money instead of making 20 dollars profit. If you have no prior experience in trading then you can observe the market for some time first and try to get a good idea from the market. If you can get a good idea about the market then trade every day by understanding the market and hope you can get profit according to your target.

[Ziskinberg]

Is copy trading worth it

Can I make 20$ per day if I have 2000$

With that huge amount and you already have a long experience in trading, $20 daily is just a small amount, double or triple it (that is still possible). But just being new in trading, earning daily is even quite hard (and less possible). Honestly, copy trading is usually been advice by most trading promoters saying that it works effectively even without a deep knowledge of this field. But don't dare to believe it as you can't trade and succeed without knowledge of trading even though you are using this strategy. If I were, use only a small amount and try this just to find out if it really works on you, otherwise, stop doing this.

[Awaklara]

Is copy trading worth it

Can I make 20$ per day if I have 2000$

it all depends on the platform as well as the choice of the trader you are going to follow and copy the trades. this is of course risky, a trader who even has a lot of followers cannot be sure that his trade will be successful.
$20 of the $2000 you have, it should be doable. but through copy trading you want, try to find traders who have the ability for it.
somehow you are more interested in copying trades, I do not like it.

[cydrix]

I studied about copy trading to gain a better understanding of it and to see what study was done on it. It seems to be a reasonable approach, but because individuals tend to believe those whose trades they follow, it encourages them to take more risks. I wouldn't say it's a simple and reasonable expectation, though, because nobody can promise any profits, and 1% per day adds up to a significant amount each month. Losses can occur in addition to victories, and maintaining a winning streak is difficult even when emulating an expert. I don't believe it to be true, and for me, the risk outweighs any potential advantages.

[bakasabo]

I will give an example from IRL - imagine you are first time in the gym, or have been visiting it for months, and all of sudden decide to copy training and diet program of a professional bodybuilder. Lifting same weights, eating same food. Can this method be successful? We dont know the past of those who we want to follow or copy trading strategy. Maybe they have special conditions on exchanges due to their trading volume and history. Maybe when we close trade with zero profit, they get 0.1% of profit because of fees. We dont know little about them, so blind copy trading or simple copy trading isnt profitable.