Is copy trading a viable option for newcomers?

[Kasabus]

For some it could be but on my part, I always believe it’s better to trust your own experience in trading than to rely in copy trading which I think is not worth doing in the long run. Even if we say those trades are done by professional traders, that will never guarantee that whatever work for them will create the same impact on us. We all have different attacks in trading. That is why it’s still a great option to rely on your own self and trade the best way that you can, by not taking part in copy trading simply because it’s not for everyone. Our success will only be achieved only by our own hardwork and efforts in trading.

[Peanutswar]

Copy trading has gained immense popularity in the crypto industry since its introduction. Bitget, being one of the pioneers in this field, remains one of the largest platforms for copy trading cryptocurrencies. Many consider it an appealing choice for beginners, but is it truly effective for those who are new to trading?

Influencers going to promote those copy trading because they want to offer a hassle free trades for the newbies using copy trade well quite ideal but of course ideal to have fundamental knowledge how trading works and what's the traders strategy so they identify if it's worth it to copy or not base on the win rate is a plus too.
If you are tired and have a lot of money you can do this even small but we know not all traders only make one position.

[Bushdark]

Copy trading has gained immense popularity in the crypto industry since its introduction. Bitget, being one of the pioneers in this field, remains one of the largest platforms for copy trading cryptocurrencies. Many consider it an appealing choice for beginners, but is it truly effective for those who are new to trading?

This is not a good way to trade since this will not improve the traders and make them gain experience in trading with better understanding of the market. One thing I have noticed these days is that traders or let me use the word people are not ready to learn these days about what we give them money. Everyone is all ready to follow the short cut which is not a good method fro us. I have tried copy trading before and nothing profitable happens to my trading history since I started that so I will not advise anyone to copy trade.

[crwth]

I think this has become a trend just because a lot of people want instantaneous results without waiting for too much or something related to that. They are not going to be learning anything and understanding why the trader is doing the specific thing.

Everything is geared up to the point where they want everything so fast and I hope that it doesn't change people's thinking.

[wxa7115]

Copy trading has gained immense popularity in the crypto industry since its introduction. Bitget, being one of the pioneers in this field, remains one of the largest platforms for copy trading cryptocurrencies. Many consider it an appealing choice for beginners, but is it truly effective for those who are new to trading?

On the surface this would seem like the perfect way for newbies to make some money without the need to learn how to trade, however I am always against anything that defies common sense.

Why would any trader which is great at what they do and that can generate profits with their trades allow themselves to be copied by others? Why allow other people to reverse engineer your strategy when you have dedicated years to perfect it? Then I do not think anyone that is a good trader is allowing themselves to be copied and newbies are only copying losing traders, and in that case it may be a better idea for them to trade on their own, as even if they lose money at least they will learn something out of it.

[ancafe]

Influencers going to promote those copy trading because they want to offer a hassle free trades for the newbies using copy trade well quite ideal but of course ideal to have fundamental knowledge how trading works and what's the traders strategy so they identify if it's worth it to copy or not base on the win rate is a plus too.
If you are tired and have a lot of money you can do this even small but we know not all traders only make one position.

It happens because they don't want to learn to understand trading patterns and strategies correctly, so they decide to choose a fast pattern to make a profit and when they get a loss on a trade they say it's a fraud or something like that. For people who have experience adjusting copy trading options is not that much of a problem because they have the knowledge to change the strategy if it doesn't suit the trading journey.

The problem is how beginners can adjust the strategy if the trip doesn't match the copy trading because trading doesn't always work according to the same strategy. The mindset of making quick profits is one of the reasons why beginners choose this strategy and they will get nothing for doing it.

[jaberwock]

Why will someone new to trading will only rely on that instead of taking their time to learn how to trade by themselves, the question is for how long will they keep depending on copy trading, there are many ways to learn trading and become a professional, i won't advise a newbie to go on this instead of taking their time to learn and make discovery on trading, your discussion will also best fit on the trading discussion board, you can move the thread there,

I guess that is because they are still new and they lack knowledge yet. I know it's best to learn first on their own but what if they are lazy and they think it takes time for them to master it? So in order to skip that hassle, they will just copy someone else trade.

If the results favor them, I'm afraid they will keep doing the activity continuously or until they feel that they are not profitable anymore but if I were them, I wouldn't wait for that moment. I will try to learn in advance so that I will have a back-up and I can continue being profitable. I can also try to trade on my own along with my copy trading and see if that improves my earning potential.

[Nrcewker]

Copy trading has gained immense popularity in the crypto industry since its introduction. Bitget, being one of the pioneers in this field, remains one of the largest platforms for copy trading cryptocurrencies. Many consider it an appealing choice for beginners, but is it truly effective for those who are new to trading?

Whether it’s trading or any other task, if you blindly follow it, then definitely you won’t know the inside depth of that work. Yes you can make good profits from it, but a time will come when you have to trade by yourself and you will fail. As whole trading journey you did copy trading, hence it won’t enhance your actual profit making skills. Copy trading is good for the initial days as beginner. Moreover copy trade only to match the trades and assumptions that you make for the coins. Rest is upto you, how you choose to go ahead with copy trading.

[Japinat]

Copy trading has gained immense popularity in the crypto industry since its introduction. Bitget, being one of the pioneers in this field, remains one of the largest platforms for copy trading cryptocurrencies. Many consider it an appealing choice for beginners, but is it truly effective for those who are new to trading?

It depends. Some beginners are already wise and knowledgeable enough not to follow random traders but they really make sure to make an intensive research first on which traders to follow. Remember, their money is at high risk so if they follow traders who were never successful in the first place, then it’s like putting their trades into suicidal.

However, I believe most of the traders are only greedy but they were never capable enough to trade. That’s why they start to rely on copy trading expecting to gain profits instantly, not knowing that they were lured by those traders pretending to be professionals but in reality they’re not even traders in the first place. So the risk involved in copy trading is much even higher than to trade all by yourself and learn the basics with consistent trading.

[justdimin]

Copy trading has gained immense popularity in the crypto industry since its introduction. Bitget, being one of the pioneers in this field, remains one of the largest platforms for copy trading cryptocurrencies. Many consider it an appealing choice for beginners, but is it truly effective for those who are new to trading?

If their strategy is working, I don't see any problem if a beginner will copy it for his/her own benefit. What matter is they're able to profit (since that's our goal) and somehow get an idea from that experience.

However, it's not right to just rely on this as a trader. It is still best to gain knowledge to learn trading using your own strategy (a basic thing to do before engaging ourselves). So don't be used to copying what other traders do, because if you gain using your own analysis, strategy and knowledge that's the start of your journey to improve yourself as a trader and become a pro in the future.

I think "if it's working" is the difficult part. You can do whatever you want to do and if it's working that's going to be fine. However, the question here would be if it's working or not. I think if you are a newbie and you start copy trading, and it works, then you keep doing that and there is nothing wrong with that.

But if you are a newbie and ask me if you should, I would say don't do that because odds are you are going to see someone who is looking good but going to end up being bad, or you are not going to do it properly and that's why it's going to end up being a problem. Just focus on what you can do, and you will be doing fine in the end, it should help you overall without an issue if you learn yourself.

[bettercrypto]

As far as I know, copy trading does not have the assurance that it will give you a good income. That's why sometimes it's often seen that influencers who have a lot of followers are promoting it and they say in their ads on Facebook and YouTube that they are making a lot of money effortlessly from copy trading, which, in fact the income they say is from their referral bonus not really from their copy trade.

That's why they still do a bit of deception, because they are paid and don't care if their followers who believe in them earn money. So self-trade is still better than AI.

[RockBell]

I think this has become a trend just because a lot of people want instantaneous results without waiting for too much or something related to that. They are not going to be learning anything and understanding why the trader is doing the specific thing.

Everything is geared up to the point where they want everything so fast and I hope that it doesn't change people's thinking.

They recognize Bitcoin's potential, but they don't want to make the sacrifice of learning. They don't seem to care about anything else all they seem interested in is making money, oblivious to the fact that this involves a process that cannot be ignored if knowledge is avoided, then they should be prepared to lose their money. it now looks as if what the majority are interested in now is to make fast money, Everyone becomes interested when they find that Bitcoin has a big profit margin, and they don't want to pay the price by forgoing education. the best advice they should still to knowledge before profit.

[Sanitough]

I honestly never tried these copy trading feature by simply copying of what other traders did, I wonder whether it really gives meaningful profits, but I just concerned with the fact that if we just set our own money to automatically follows what the other party decisions are doesn't that mean we could be used as a tool for them to make exit liquidity i think it should be of concern.
after all, its always better making our own decision if we have sufficient knowledge, resources and ability to analyze the coin we gonna invest in.
just wonder if anyone out there has been successful in their trading career by just using this feature.

I think the risk was even doubled if you trade through copy trading, why? Because you are trading following uncertain people’s  trades, in which you can’t be sure if it’s really working or not, if it’s done by a veteran trader or just a beginner trader too in reality. That’s my point of view about copy trading, the reason why until now I didn’t have the confidence to trade using copy trading, regardless if the amount is only small. The fact that it’s my hard-earned money, then I should always trade following what I think is right and what I think is reliable.

[Eternad]

Copy trading has gained immense popularity in the crypto industry since its introduction. Bitget, being one of the pioneers in this field, remains one of the largest platforms for copy trading cryptocurrencies. Many consider it an appealing choice for beginners, but is it truly effective for those who are new to trading?

Copy trading will just make newcomers lazy to learn trading by themselves since they will only keep copying blindly anyone that is being followed by many. Doing this is very dangerous since not all traders that allow copy with their portfolios has a 100 win rate.

Copy trading is only good if the who is copying it knew exactly what he is copying instead of following trades blindly and just follow the flow without giving personal inputs on the trade.

[KingsDen]

Copy trading has gained immense popularity in the crypto industry since its introduction. Bitget, being one of the pioneers in this field, remains one of the largest platforms for copy trading cryptocurrencies. Many consider it an appealing choice for beginners, but is it truly effective for those who are new to trading?

Whether it’s trading or any other task, if you blindly follow it, then definitely you won’t know the inside depth of that work. Yes you can make good profits from it, but a time will come when you have to trade by yourself and you will fail. As whole trading journey you did copy trading, hence it won’t enhance your actual profit making skills. Copy trading is good for the initial days as beginner. Moreover copy trade only to match the trades and assumptions that you make for the coins. Rest is upto you, how you choose to go ahead with copy trading.

Copy trading is not really a bad idea to make money. I can say that it is a smart way to eaen only if you understand what you are doing. A total newbie might lose money in copy trading but someone who has the idea of trading will know the most realistic trade to copy. A good trader will under when the trade is going against whom he is copying and try to make deviations, but this cannot be said about a novice trader who only depends on the copy trade to earn.

Again, if a newbie starts with copy trading and begin to make money, they may never return to learn the real trading and that's a big disadvantage.

[tvplus006]

...Many consider it an appealing choice for beginners, but is it truly effective for those who are new to trading?

With a 99% probability, sooner or later you will lose your deposit. Since unlike a leading trader who uses leverage equal to one, you will constantly overcharge the risks by choosing a high leverage. And if the price moves contrary to your expectations, your position will be liquidated by the exchange.

[Fatunad]

Copy trading has gained immense popularity in the crypto industry since its introduction. Bitget, being one of the pioneers in this field, remains one of the largest platforms for copy trading cryptocurrencies. Many consider it an appealing choice for beginners, but is it truly effective for those who are new to trading?

If their strategy is working, I don't see any problem if a beginner will copy it for his/her own benefit. What matter is they're able to profit (since that's our goal) and somehow get an idea from that experience.

However, it's not right to just rely on this as a trader. It is still best to gain knowledge to learn trading using your own strategy (a basic thing to do before engaging ourselves). So don't be used to copying what other traders do, because if you gain using your own analysis, strategy and knowledge that's the start of your journey to improve yourself as a trader and become a pro in the future.

I think "if it's working" is the difficult part. You can do whatever you want to do and if it's working that's going to be fine. However, the question here would be if it's working or not. I think if you are a newbie and you start copy trading, and it works, then you keep doing that and there is nothing wrong with that.

But if you are a newbie and ask me if you should, I would say don't do that because odds are you are going to see someone who is looking good but going to end up being bad, or you are not going to do it properly and that's why it's going to end up being a problem. Just focus on what you can do, and you will be doing fine in the end, it should help you overall without an issue if you learn yourself.

We cant really be able to drawn out some conclusions whether its working or not because just like you do said that outcome would really vary because we know that market conditions arent something that would really be that predictable on which means that whether you do make use of those preset up trading bots or would really be following someone then results would really be neither positive or negative. The important thing on here is that its really that something good if that newbie do able to make learn something despite on having that automated kind of trading on which whether they would be going for copy trades or using up some bot. The only that or which its important that you do really make that kind of progress but on the time that you would be finding yourself that totally relying on these things then you wont really be that making yourself that eventually learn on whats trading at all. On the time that you would go solo flight with trading then you would definitely struggle out because you hadn't able to make yourself that learn in the first place.
This is why if you are an actual noob then its better to start up with manual trading on which you could really make yourself that able to learn up trading on your own hands on which on the time that you do engage
with it for long then you would really be making yourself way more better.

[WatChe]

Copy trading will just make newcomers lazy to learn trading by themselves since they will only keep copying blindly anyone that is being followed by many. Doing this is very dangerous since not all traders that allow copy with their portfolios has a 100 win rate.

Copy trading is only good if the who is copying it knew exactly what he is copying instead of following trades blindly and just follow the flow without giving personal inputs on the trade.

Your first thing as a trader is to device a strategy from your own mind, as it will help you grow in the long run. If you just rely on signals or copying others strategy then you are deemed to lose your money in the long run.
Copy trade work only when you put your own effort also along with it. The strategy that worked for someone does not necessarily work for you. This is something you need to be careful about.

[Bananington]

Copy trading has gained immense popularity in the crypto industry since its introduction. Bitget, being one of the pioneers in this field, remains one of the largest platforms for copy trading cryptocurrencies. Many consider it an appealing choice for beginners, but is it truly effective for those who are new to trading?

Whether it’s trading or any other task, if you blindly follow it, then definitely you won’t know the inside depth of that work. Yes you can make good profits from it, but a time will come when you have to trade by yourself and you will fail. As whole trading journey you did copy trading, hence it won’t enhance your actual profit making skills. Copy trading is good for the initial days as beginner. Moreover copy trade only to match the trades and assumptions that you make for the coins. Rest is upto you, how you choose to go ahead with copy trading.

Copy trading is not really a bad idea to make money. I can say that it is a smart way to eaen only if you understand what you are doing. A total newbie might lose money in copy trading but someone who has the idea of trading will know the most realistic trade to copy. A good trader will under when the trade is going against whom he is copying and try to make deviations, but this cannot be said about a novice trader who only depends on the copy trade to earn.

Again, if a newbie starts with copy trading and begin to make money, they may never return to learn the real trading and that's a big disadvantage.

For me, it has always been best when any kind of newbie in any new environment takes at least 3months to carefully study up on the subject of interest before trying to use a hack or should I say shortcut to by-pass the basics.
Copy trading is genius in its idea and it has helped those of us who have tried applying it, to know that trading is doable and learnable, just like every other skill one would pay to learn or from YouTube classes.
Copy trading is a viable option, but not particularly a good idea for newbies without any of the basic knowledge or even the slightest interest in heart.

[DoublerHunter]

For some it could be but on my part, I always believe it’s better to trust your own experience in trading than to rely in copy trading which I think is not worth doing in the long run. Even if we say those trades are done by professional traders, that will never guarantee that whatever work for them will create the same impact on us. We all have different attacks in trading. That is why it’s still a great option to rely on your own self and trade the best way that you can, by not taking part in copy trading simply because it’s not for everyone. Our success will only be achieved only by our own hardwork and efforts in trading.

^ I think trusting your own experience and skills in trading is very important for long-term success. While copy trading may seem appealing and can be a useful learning tool for some but it is not suitable for everyone. As you have said, each trader has their own unique way of doing trading, risk level, and trading style, which may be a good sign with those of the professional traders being copied.
Relying on copy trading can create a false sense of security, as success in trading depends on various factors, including market conditions and individual decision-making. Simply following the trades of others without understanding the underlying strategies and market dynamics may lead to unfavorable outcomes.