Have you ever used copy trading apps

[Obari]

Just as my topic reads, I'm interested  to know if anyone has ever used copy trading apps and what's your experience?
I've always known of octafx copy trading  app but never  never used it because I've tried downloading  it but got other similar apps from playstore and didn't know which was real,
I finally installed one that seemed real and I think I love the simplicity but haven't tried it out yet because I didn't want to be scammed of any cent 😅  but I think judging from what I saw on the app, this is one cool place one can make profits without getting to stress their brain but rather pick a trader based on their performance and your preferences and you're good to go.

What do you guys think about copy trading?
Let's discuss please

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[Oshosondy]

OctaFX copy trading app is for forex.

For crypto exchanges, you can access the copy trading through the exchange directly. I know of Binance, Huobi, OKX and many other exchanges having copy trading.

I do not know much about foreign exchange but I know that learning trading is the best.

Use the amount of money that you can afford to lose to learn and to trade.

[crwth]

If you are worried about getting scammed, why did you still install it? Installing and still worrying about getting scammed would likely get you hacked/scammed in the first place if it's fake. You can be infected by doing that.

Don't think about it too much. If you believe that you can earn at it, do it. Just make sure you are risking a capital that you can risk.

Copy trading is the easy route. I would prefer to study on my own and make my own decisions.

[hugeblack]

Why do you need to download an application to do something that can be collected online, meaning why not search for online sites that provide this service. In general, I think that copy trading is scam or at least a waste of money, all they promise you is that you will get profits from their advice, even if that Possible, why they didn't take debts and invest them instead of selling copy trading service and making others rich?

The only successful case for copy trading is for someone looking for fame, and such people offer their services on YouTube.
In general, be very careful.

[abel1337]

I haven't used any copy trading apps but I'm trying to see other trader insights on tradingview. It helps me in rounding on what move to do on a specific trading scenario. I believe that it is always better to trade on your own especially if you are trying to improve your skills but yeah there are people who only want to gain profit as easy as they can that's why they rely on copy trading. It's an easy path honestly but yeah the return is not that good sometimes especially if the trader you choose is not performing well, you will lose on either fees or lose on the performance on the trader you choose.

[SamReomo]

Just as my topic reads, I'm interested  to know if anyone has ever used copy trading apps and what's your experience?
I've always known of octafx copy trading  app but never  never used it because I've tried downloading  it but got other similar apps from playstore and didn't know which was real,
I finally installed one that seemed real and I think I love the simplicity but haven't tried it out yet because I didn't want to be scammed of any cent 😅  but I think judging from what I saw on the app, this is one cool place one can make profits without getting to stress their brain but rather pick a trader based on their performance and your preferences and you're good to go.

What do you guys think about copy trading?
Let's discuss please

Don't fall for the scam of copy trading as it will never help you to be a trader but someone who copies others, and you should keep in your mind that others can be wrong many times and if you are placing your orders based on their strategies then you chances of loosing a lot of money is going to be a confirmed thing.

I really give no importance to copy trading and I would also recommend to avoid it as any cost. A copy trader is worse than someone who losses 10 out 20 trades because that trader at least know that what he/she is doing. If someone does copy trading then that person is throwing his money into river in hopes of getting higher amount then the thrown amount. I would recommend you once again to avoid this type of activity if you don't want to get scammed by the fake trades of a trader.

[Eternad]

What do you guys think about copy trading?
Let's discuss please

Copy trading sucks because you will pay for the premium when you profit while you can easily earn the whole profit without relying on this tool if you will learn on your own. I have copy trading experience before but I really don’t like it because some traders is doing crazy trade.

I’d rather use bot to trade for myself because I’m still the one controlling the settings of my trade instead of relying to someone that I didn’t know. Winning percentage sometimes goes south when trader already tilted.

[Hamza2424]

Copy trading hmm, I had made I think a lot of replies in the past. As copy trade from its terminology, it shows the low risk is involved. You are blindly following a trader whom you don't know and who don't know you and don't even know about your financial stability. A very inappropriate match or you can say combination which can be deadly for your portfolio.

This is a general view there are a lot of demerits of copy trading which is annoying as it doesn't guarantee any profits even if you get profits there can be terms on every trade you follow. A very tightly restricted medium for your portfolio to play in the market. Obviously, I do support following the analysis of others in your trades, to educate yourself and learn about trade management and some sentiments as well.

I really don't think buddy this topic need a discussion because if you really want to learn something you dig in past topics where can find more valuable insights.

[palle11]

I really don't think buddy this topic need a discussion because if you really want to learn something you dig in past topics where can find more valuable insights.

Also you have to be careful with trier and error in terms of downloading apps that you don't know exactly which is the function. There are scam and to be free from it is not to bring it close to your phone. As for copy trading, the reason for that is when someone wants to be a trader yet they don't want to learn. My advise is learn and make your mistakes then you can be better.

[taufik123]

Cool place? Are you sure about that.
Because some copy trading platforms only bring losses, because in the end they are scams.

I've tried using several copy trading apps and picked the most trusted traders with a large following.
It may be profitable in the beginning, but it also depends on how you manage your capital.

I keep the management to a minimum so that I know how it will perform after a few days of using it.
It does give pretty good results without requiring thinking from our own brains.
But be careful because every platform comes with risks.

A really good suggestion is to learn first how trading works and what you need to know.
If you only rely on copy trading and do not understand the whole of trading, then it will be very risky.

[cabron]

Looks only for Forex.

Be suspicious when you are trying out a new app while you are about to deposit money on an app nobody knew about because if it sounds like a scam and looks like a scam, it's most likely a scam. Copy trading is not something new but if a platform uses this copy trading feature for its selling point, it's targeting newbies to join them. Newbies who are really looking for an easy way to make money are usually drawn to such promises.

[Litzki1990]

Having some prior knowledge of copy trading but have never used this trading system so it would be difficult for me to speak about this system. But from what I know about its trading, I think this copy trading system is a complete scam. Fraudsters usually do this to deceive. It is easier to depend on others than to learn something by yourself but it is never safe to depend on others. How can you trust someone you don't know or have no idea about? There is no need to rely on such trading systems, you should gain practical experience of trading yourself. If you try everything is possible, if you try you can definitely become a skilled trader but if you depend on others you will never learn trading so instead of relying on others depend on yourself.

[mk4]

You’re likely to end up with a loss if you leave your money to copytraders in longer periods of time. Yes, some copytraders manage to get trading rotations/cycles right (hence why some copytraders have like 200% annual profit or even higher), but let them trade for more than 4+ years, then they’ll end up likely messing up. Their annual profit always looks good because it’s mostly under the span of 2 years.

[Cling18]

You don't have to rely on apps especially if you have just downloaded it on playstore. There's a possibility that you might get scammed so better trust your guts. It is better to learn trading yourself without relying on anyone or copying other's strategies and techniques.
Having your own kowledge about trading will be an edge so you better be wise about what you do than regret it in the end. If you are afraid to get hacked or to be scammed, try to avoid downloading unknown apps and think twice before downloadjng anything.

[usekevin]

Just as my topic reads, I'm interested  to know if anyone has ever used copy trading apps and what's your experience?
I've always known of octafx copy trading  app but never  never used it because I've tried downloading  it but got other similar apps from playstore and didn't know which was real,
I finally installed one that seemed real and I think I love the simplicity but haven't tried it out yet because I didn't want to be scammed of any cent 😅  but I think judging from what I saw on the app, this is one cool place one can make profits without getting to stress their brain but rather pick a trader based on their performance and your preferences and you're good to go.

What do you guys think about copy trading?
Let's discuss please

Actually copy trading itself not the correct way of approaching to the trading.So when considering to the application for the copy trade is not the welcome one.It’s better to create your own strategies for the trading,because you should be the masterpiece to the one own strategy.But to the other people struggling can be rectified and they can achieve the desired result using new techniques.It’s essential for applying the strategies on your real money instead of start blame the market and the cryptocurrency trading application.

[jeraldskie11]

You’re likely to end up with a loss if you leave your money to copytraders in longer periods of time. Yes, some copytraders manage to get trading rotations/cycles right (hence why some copytraders have like 200% annual profit or even higher), but let them trade for more than 4+ years, then they’ll end up likely messing up. Their annual profit always looks good because it’s mostly under the span of 2 years.

This is not always true because you're copying a trade from a real traders. Bots are mostly good at beginning but humans that are really profitable in trading, can be possibly maintain his profitability. You can have the data of the trader you want to copy trade from his previous months performance and it's good to know some techniques to determine best trader before you pick. We have to expect that they will also experience loses because there's no strategy that has 100% win rate and we can't also control the market movement.

[Wexnident]

I have a friend who tried copy trading (after I let him know it exists). It was quite a few years back though and while he didn't lose much (or earn much really), it didn't really prove as a learning experience for him. Accurate to the name itself, copy trading is a method of, well, copying others after all, and in this trade, you'd never see any profit no matter what if all you do is copy trade. While I won't judge you if that's what you want, then why bother copy-trading in the first place? This just gives you an outlet for venting when your trades are lost when in the first place you could've taken the time to study up and earn on what you learned instead.

While it is one option for beginner traders (which I also considered as a good one, but that was in the past), it might be better to experience losing money early on instead and learning on what you did wrong and what you didn't know instead. Losing money is part of the process, so if you're not happy with that, I'd honestly just stop trying to trade (or just DCA on a good coin).

[sheenshane]

What do you guys think about copy trading?

Copy trading can be a valuable tool for less experienced traders to learn from and follow the strategies of more successful traders.
But it doesn't mean you can rely on it with your whole time trading activities, you should learn to stand on your own feet having your own skills and knowledge.

I didn't use the app even in trading, it should be on a website not on the app, there are too many loopholes if you're using this app and the common problem is the buggy one.  
Look at the Playstore Review, everything they said was a negative review toward this app.

[Bitcoin_Arena]

I have ever tried to copy trading, and it's not worth it, I only made losses after some long time. It's better you learn how to trade yourself and try maybe getting a strategy into trading bots

[LogitechMouse]

I have ever tried to copy trading, and it's not worth it, I only made losses after some long time. It's better you learn how to trade yourself and try maybe getting a strategy into trading bots

Well, I'm thinking of doing it for some time, but after sharing your own experience to it, I guess I will have doubts now as to me trying it or not.

TBH, the first time that I saw this term "copy-trading" was in eToro where they are offering copy-trading so that you as a copy trader will just sit there while the ones you are copying will make successful trades for you. I mean isn't it like you are leeching in some ways because you aren't learning from it, but you have a chance of earning money. Well, I guess that it wasn't in your case because you loss money like you said after a long time, and I might experience the same as well, so I guess learning how to trade is always the best way, and not copy trading other experts out there.

As for trading bots, may I ask if you already tried it? What is your experience to it? Did it make you money, or is it worth it? Thanks for sharing.