Is copy trading a viable option for newcomers?

[Huppercase]

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?

There are some advantages of copy trading for newcomers. You can check the below points.

Advantages :

1. Time-saving

They can reduce the time on researching and monitoring the markets.

2. Learning opportunity

They can observe and analyze the strategies of successful traders.

3. Simplicity
They can replicate the trades of good traders.

As much as I find your points convincing, they are not showcasing true definition in true life experience, because I don't understand what is Time-saving in copy trading when you can literally do your own set up, not doing your set up will make you even lazier without knowing full understanding of what you are doing and what is the learning opportunity you disuss over there, it doesn't show to me that you will every learn anything from copy other traders trades, you will only get to see loss/profits but most cases, its is losses because you chosed to do the short cut.

Furthermore, I'm yet to see if this copy trading will be useful right now as I was just scrolling in Binance exchange to see if the traders offering copy trading has been making profits, I checked into their portfolio and I couldn't find anything tangible, their ROI has been negative which means they are not making profits. If professional traders are making loss in this bear market, then I believe copy trading is a waste of time and capital.

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[macson]

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?

there is a saying 'when you copy what professionals do then at least you will have skills that are close to theirs', so that's the conclusion for beginners it's okay to try copytrading but keep in mind that don't depend heavily on it, you will definitely  will be addicted when you are proficient in using copytrading, this is what you should avoid.  in trading nothing is perfect and solving every problem perfectly, there must be shortcomings that traders do, so for beginners it is highly recommended when using copy trading, keep learning basic trading and other trading support things.

[mirakal]

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?

Yes, copy trading may be effective in seeking for profits but only for those who are willing to take the risk and know exactly those risks involved. However, for beginners in trading, I cannot guarantee that they can manage properly the risk in copy trading, especially that they have less experience as traders and are not completely aware on how to make money in trading, most particularly on how copy trading works and become profitable. But I must say copy trading is a great way to make money, it’s just that the risks involved are not applicable for beginners.

[lixer]

It is okay to get ideas about trading by following others but it is better not to direct a new member's trading activities according to someone else's trading. Because trading usually depends on one's own skills, how someone else is trading successfully may not be successful, so everyone should have their own trading skills. Those who are new to trading can try to learn about trading and build their own trading skills by learning from how others handled their trading to better understand. In trading you should never depend on others and always depend on yourself.

Well, I don't really see anything wrong in copy-trading because I know that it can be something good but as long as the person copying someone else's trades either manually or on a platform that allows them to do so automatically after setting the parameters has some knowledge of the market and trading practices themselves because you can't be simply copying someone's trades but have absolutely no knowledge about trading and the market or the coins being traded.

So even if a newbie wants to do copy-trading since they have a trader under their radar that has good results, they should first learn about trading and the market themselves so that they can manage things in a proper way even if the copy-trading thing doesn't work out, they can do trading manually without copying anyone in the future.

[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?

there is a saying 'when you copy what professionals do then at least you will have skills that are close to theirs', so that's the conclusion for beginners it's okay to try copytrading but keep in mind that don't depend heavily on it, you will definitely  will be addicted when you are proficient in using copytrading, this is what you should avoid.  in trading nothing is perfect and solving every problem perfectly, there must be shortcomings that traders do, so for beginners it is highly recommended when using copy trading, keep learning basic trading and other trading support things.

When people say something like that they actually mean going through the trouble of learning why experts do what they do and then try to make their knowledge and their skills your own, copy trading is just a cheap imitation of this process and it will never work as intended.

As do you think that a world class trader will allow themselves to be copied for a single second? If you want to have the privilege of your money following their strategy then you have no other option but to hire their services, which are not cheap, and you need to have a massive amount of money just to have a chance to hire them, as there are countless people which would like for the privilege of their money being managed by them.

[xSkylarx]

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?

Yes, copy trading may be effective in seeking for profits but only for those who are willing to take the risk and know exactly those risks involved. However, for beginners in trading, I cannot guarantee that they can manage properly the risk in copy trading, especially that they have less experience as traders and are not completely aware on how to make money in trading, most particularly on how copy trading works and become profitable. But I must say copy trading is a great way to make money, it’s just that the risks involved are not applicable for beginners.

But still, you'll need to have a lot of capital compared to self-trading because that is really their requirement. Also, you'll need to find a reliable trader who will give you profit, but again, the problem is that you won't develop skills. Trading is a skill, meaning you can bring it wherever you are going and do it on your own, but if you are just doing it to copy trade, you won't learn anything. It is some sort of lazy stuff, but again, your money works on it and it saves you time.

[Inwestour]

When people say something like that they actually mean going through the trouble of learning why experts do what they do and then try to make their knowledge and their skills your own, copy trading is just a cheap imitation of this process and it will never work as intended.

As do you think that a world class trader will allow themselves to be copied for a single second? If you want to have the privilege of your money following their strategy then you have no other option but to hire their services, which are not cheap, and you need to have a massive amount of money just to have a chance to hire them, as there are countless people which would like for the privilege of their money being managed by them.

Moreover, if we are talking about a successful trader who can earn a lot of money, then what is the point of him sharing his knowledge with anyone else? My opinion is that trading is taught by those who have not been able to achieve great results in trading, but at the same time they believe that they have quite a lot of knowledge in technical analysis.

Thus, for them, it becomes the realization of their knowledge, they simply teach beginners what they know themselves, but the result in trading will still depend on the beginner, because in the end he will have to analyze and make decisions himself.

Copy trading is also not something to strive for, what will it give a beginner in the future? No personal practice and understanding of the market, at best, a few successful copied trades and that's it. And when you have to trade yourself, then everything will be different, you need to make decisions, this is a completely different matter.

[Questat]

If you can never find a mentor, then copy trading is the best thing to do. In fact, we need the experience to gain more learning, and having this strategy would help us gain ideas as well. Of course, we can just stay long from doing this, as at the moment that we have ideas already we can make our own strategy applying those things that we have learned from copy trading. Because for me, I consider this as a stepping stone to grow and improve our skills.

Learning is expensive and so if we wanted to acquire this (learning), then we also have to spend some money in exchange for that valuable things.

[sana54210]

When people say something like that they actually mean going through the trouble of learning why experts do what they do and then try to make their knowledge and their skills your own, copy trading is just a cheap imitation of this process and it will never work as intended.

As do you think that a world class trader will allow themselves to be copied for a single second? If you want to have the privilege of your money following their strategy then you have no other option but to hire their services, which are not cheap, and you need to have a massive amount of money just to have a chance to hire them, as there are countless people which would like for the privilege of their money being managed by them.

Moreover, if we are talking about a successful trader who can earn a lot of money, then what is the point of him sharing his knowledge with anyone else? My opinion is that trading is taught by those who have not been able to achieve great results in trading, but at the same time they believe that they have quite a lot of knowledge in technical analysis.

Thus, for them, it becomes the realization of their knowledge, they simply teach beginners what they know themselves, but the result in trading will still depend on the beginner, because in the end he will have to analyze and make decisions himself.

Copy trading is also not something to strive for, what will it give a beginner in the future? No personal practice and understanding of the market, at best, a few successful copied trades and that's it. And when you have to trade yourself, then everything will be different, you need to make decisions, this is a completely different matter.

That's true, no newbie learn something from the veteran and be able to do the exactly the same thing and learn it easily enough that they will be starting to make a lot of profit. Everyone puts their own little twist on things and they make mistakes and they learn from their mistakes and become better eventually as well. That's how it has been so far and I am guessing that's how it is going to be in the future as well.

That's not what I think will be the situation for a long time but as long as you let it be like that then we are going to get newbies who will start at a good level, and be better with more losses they have because they will learn from their mistakes. The ones who do not, will end up giving up or losing even more.

[freedomgo]

It can be appealing but it will never be sustainable for long term usage most especially for beginners who have less or no significant experiences in trading. While it can be effective and profitable for experienced and long time traders, but it will be a different story when beginners try to rely on copy trading.

Copy trading can be hassle free as it saves time from its users. But if only you were not copy trading from fake and inexperienced traders. Otherwise, you will end up losing because you fail to follow the right traders, but instead fall on the trap of unsuccessful traders.

[ShowOff]

It can be appealing but it will never be sustainable for long term usage most especially for beginners who have less or no significant experiences in trading. While it can be effective and profitable for experienced and long time traders, but it will be a different story when beginners try to rely on copy trading.

Copy trading can be hassle free as it saves time from its users. But if only you were not copy trading from fake and inexperienced traders. Otherwise, you will end up losing because you fail to follow the right traders, but instead fall on the trap of unsuccessful traders.

The way it works might be easy to understand, but I don't think I would suggest beginners rely entirely on it this way.
The best advice for a beginner is to study and do a lot of research so he can have his own knowledge and experience on trading. Depending on the top trader's strategy can be profitable or even detrimental, but that is only a selection of some of the ways the industry attracts users.

I prefer it if a beginner trades at his own pace. They don't have to be greedy and just want to profit through other people's trading strategies, but I don't blame their desire if they have considered it wisely.

[tvplus006]

Copy trading can be hassle free as it saves time from its users. But if only you were not copy trading from fake and inexperienced traders. Otherwise, you will end up losing because you fail to follow the right traders, but instead fall on the trap of unsuccessful traders.

Obviously, you have not tried copy trading yourself, otherwise you would know that you would lose anyway, regardless of which trader you choose to copy. This is due to the fact that leading traders always trade with a margin equal to one, while they open an order for a minimum amount, which allows them to hold a losing position for a very long time. And in the end, they close their order with a profit, while those who copied it have long been liquidated by the exchange.

[shinratensei_]

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?

there is a saying 'when you copy what professionals do then at least you will have skills that are close to theirs', so that's the conclusion for beginners it's okay to try copytrading but keep in mind that don't depend heavily on it, you will definitely  will be addicted when you are proficient in using copytrading, this is what you should avoid.  in trading nothing is perfect and solving every problem perfectly, there must be shortcomings that traders do, so for beginners it is highly recommended when using copy trading, keep learning basic trading and other trading support things.

well in this case when you are exactly copying their activities 1:1 then I guess it doesn't require skill close to that of the professional traders.
but the thing is that i'm sure there is a way for these so called professional traders that open up their copy trading services to somewhat take advantage of the capital of those that followed them.
i still don't have the idea how, but i think this copy trading is not all rainbow.
there must be some underlying motives that could somehow make the followers incur losses when the professional traders are profiting off of them.

[Jatiluhung]

It can be appealing but it will never be sustainable for long term usage most especially for beginners who have less or no significant experiences in trading. While it can be effective and profitable for experienced and long time traders, but it will be a different story when beginners try to rely on copy trading.

Copy trading can be hassle free as it saves time from its users. But if only you were not copy trading from fake and inexperienced traders. Otherwise, you will end up losing because you fail to follow the right traders, but instead fall on the trap of unsuccessful traders.

Copy trading is indeed only suitable as a lesson and not as a guide in the long term. And it's true that we also shouldn't be careless in choosing copy trading. We have to know which traders are reliable and we have to research them well. But for beginners, they can even be careless in choosing.

Copy trading can sometimes make us learn trading as if guided by a mentor. Or like we have a mentor. It's just that we have to follow the right trader in this case. And only use small capital for the first time to start trading. If we look at the advertisements of traders who are successful in trading then we will see that trading looks like it is very easy. But when put into practice it is not as easy as we think.

[wxa7115]

If you can never find a mentor, then copy trading is the best thing to do. In fact, we need the experience to gain more learning, and having this strategy would help us gain ideas as well. Of course, we can just stay long from doing this, as at the moment that we have ideas already we can make our own strategy applying those things that we have learned from copy trading. Because for me, I consider this as a stepping stone to grow and improve our skills.

Learning is expensive and so if we wanted to acquire this (learning), then we also have to spend some money in exchange for that valuable things.

A book written by a successful a trader is way better in my opinion as you will actually learn something from it, as those that use copy trading are just imitating what other traders are doing without knowing why.

And someone which could reverse engineer why such trader is doing what they are doing based on their actions is probably someone which does not need to copy trade since they could have developed their own strategy anyway, as reverse engineering anything is always harder than forward engineering.

[Bitcoin_people]

I think copy trading is good and you can easily do it but it prevents you from learning trading on your own experience. It is best if you can learn trading from your experience, but when you are trading with the help of second party then it can definitely hinder you at times. No matter how good copy trading is it doesn't work from your knowledge and experience so I don't like this copy trading. If I can gain good knowledge about trading from my research then it will be happy and good for me and I can move forward from here in future. So if you want to know about the basics of trading and learn to research from below then you can get good education about training and gain experience. And if you can research the basics of trading then copy trading will become easier and better understood for you.

[svgisawmn]

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?

In my opinion, it's a great tool that can help you but it won't replace your skills and knowledge. It's just an additional source you can use but not rely on it completely

[RockBell]

If you can never find a mentor, then copy trading is the best thing to do. In fact, we need the experience to gain more learning, and having this strategy would help us gain ideas as well. Of course, we can just stay long from doing this, as at the moment that we have ideas already we can make our own strategy applying those things that we have learned from copy trading. Because for me, I consider this as a stepping stone to grow and improve our skills.

Learning is expensive and so if we wanted to acquire this (learning), then we also have to spend some money in exchange for that valuable things.

I think having a mentor is not that bad, it is also a good measure to reduce risk if someone is seriously guided, I don't even think you will enjoy crypto without learning and easier mentorship, you keep learning new things every day as far as crypto is known there is an upgrade and etc. I don't personally believe that copy trading is too risky for me, I prefer you use copy trading to get ideas rather than going into it without knowledge, after learning one-two you can actually know the right steps to take, crypto involves too many processes so one wrong step can actually make you lose your assets

[taufik123]

-snip-
I don't personally believe that copy trading is too risky for me, I prefer you use copy trading to get ideas rather than going into it without knowledge, after learning one-two you can actually know the right steps to take, crypto involves too many processes so one wrong step can actually make you lose your assets

Whether it's risky or not depends on how and who you use and who you follow for copy trading.
It's not always bad, it's like copying someone's spreadsheet or trading strategy and you just need to put up the money needed to execute it.

Profit sharing on copy trading is also set by the platform that provides copy trading.
I myself used copy trading several times and got some profits, but there were moments when there were losses that I got when the market suddenly crashed.
They also set a stop loss so that losses can be cut right away.

Just like you, using copy trading is not for main trading but is used to see how a professional trades and what strategies they make, so that we can observe and learn from these strategies.
As well as doing financial management needs to be done because it is a strong foundation for the resilience of the capital we have to trade.

[AmoreJaz]

-snip-
I don't personally believe that copy trading is too risky for me, I prefer you use copy trading to get ideas rather than going into it without knowledge, after learning one-two you can actually know the right steps to take, crypto involves too many processes so one wrong step can actually make you lose your assets

Whether it's risky or not depends on how and who you use and who you follow for copy trading.
It's not always bad, it's like copying someone's spreadsheet or trading strategy and you just need to put up the money needed to execute it.

Profit sharing on copy trading is also set by the platform that provides copy trading.
I myself used copy trading several times and got some profits, but there were moments when there were losses that I got when the market suddenly crashed.
They also set a stop loss so that losses can be cut right away.

Just like you, using copy trading is not for main trading but is used to see how a professional trades and what strategies they make, so that we can observe and learn from these strategies.
As well as doing financial management needs to be done because it is a strong foundation for the resilience of the capital we have to trade.

when you opt for this route, don't expect that what the trader achieved so far, will be your achievement as well. it may not be bad at all if you will follow them at the beginning, but you should have  long-term goals, which is to be independent and have your own insights towards the trading market.