Have you ever used copy trading apps

[nara1892]

Just as my topic reads, I'm interested  to know if anyone has ever used copy trading apps and what's your experience?
 

The truth is that I don't like using copy trader feature on any of those brokers or exchange, because if I can't be confident in my own trading strategy, then I see no reason to trust the copy trader as well. Well, some people say it works for them, but the thing is that as a trader that I am, I know that the dynamic nature of the crypto or forex market makes it very difficult to accurately determine the direction of the market. As such, I just prepare to go with my trading strategy so that if I lose, I will learn from my mistake, correct the mistake, and go again. "Ones a professional trader, many times a failure." If one can not trade and learn from their errors, then they can't become a professional trader, perhaps those copied trades are also shared by some traders who claim to be professionals.

Well there is a saying  that  we should learn from others mistakes but there is also a saying that experience  is the best teacher, I think but sayings have a scenario to which they should fall and I will rather choose to learn from the mistakes of others rather than making same mistakes I would have learnt from and even make some profits  from it rather than risking absolutely  everything while learning.

I was on the opinion  on seeking to know kw if anyone has been successful  from copy trading because I was having some thoughts on having a copy trading app and earn from it while learning.
How about that 🤔

That's true, and we can get a lot of experience as well as knowledge when we want to learn from a mistake to be a little more advanced, want other people's mistakes or our own mistakes to have the same benefit to be more advanced if we want to learn from those things. And it's also very true, on the other hand we can also take advantage of other people's mistakes for us not to do, which as we know that there are always consequences or some losses when we experience these mistakes, so by learning from other people's mistakes we will minimize some of the these losses and not doing things that could bring us down. I don't think any of them have had any success using copytrading, and if they did I would wonder how they did it. What I know is that when we want to go through various processes in a field with some mistakes that we might experience there it will be more likely for us to get success, I would advise someone especially novice traders to do it themselves instead of relying on copy trading, even if it is very helpful in gaining profits but still it will be very difficult for us to develop if we only rely on other people's knowledge. Learning from one's own mistakes is a more promising process for future success.

[justdimin]

Totally get where you're coming from! Well if what you're aiming for is independent trading, trusting your own instincts and strategies in this ever-changing crypto and forex scene makes total sense. The market's wild swings can be hard to predict. Trading is also one of the hardest profession in the world.  Learning from losses and evolving as a trader is the real deal. And you're spot on, those copy traders might not always be the gurus they claim to be. You're not learning when you're just copying. But if you just want to make money with the person's analysis you trust, then go for it.

It is the only way to trade for me, I would never consider any other method to make money and I understand that some people may consider it as an option but for me it will never be a valid option. I think it should be important to make as much difference in crypto to yourself than any other person.

If you trust yourself and improve yourself and just give time to yourself as well then eventually you are going to be something good. That doesn't mean that we are not going to end up with a bad result, it should be important to remember that we are going to make some profit with it if we keep giving yourself to studying how to trade. If we have no idea, we are going to be just trusting others and that will end up with a loss.

[Distinctin]

It’s really easy to say that you’ll get bigger profits from trading out from less hassle, by simply copying trades from profitable traders. But in reality it’s not. It’s hard to find reputable traders these days since a lot of traders mostly claim that they are good and profitable in all their trades, when in reality they’ve been losing in most of their trades. Worst is, they never know exactly how trading works and they just pretend to act like good traders because it’s part of their job to make an income. That’s the reason why I don’t give a try from those copy trading apps, because that will only increase the rate of losing than just relying on your own and learned from all your losses.

[Viscore]

Trading is not enhanced through copy trading, but by seriously learning on your own so you can honed your own skills and strategies that are required when trading. So don’t be tempted from those copy trading apps because they only make you profitable at first but eventually, they will only see you as another source of their income. And do not adhere to what they’ve been saying that you will make profits without hassling yourself. Of course, when you trade, there is no guarantee if you’ll end up winning from your trades, that alone creates a hassle and put your money at risk.

[Japinat]

With all the negative reviews that I’ve been reading online, I think those are proofs that it will never make me profitable in trading. Copy trading will never make you profitable in time, but will make these channels richer without doubting. This is the reality but sadly, a lot of traders still fall for them believing that they will take shortcuts in making their trades successful and profitable. Perhaps because every trader is greedy, but others are just wise enough to control their greed.