Is copy trading a legit way of income for beginners or just a marketing tactic?

[Lorence.xD]

Many times copy trading does not give reliable experience, because some of those who provide for this copy trading are actually not real and professional traders on their own. They just simply make this a source of living out from the payments they get from those who carelessly subscribe to them. So yes, it would be more acceptable if those who copy trade are just for fun, and definitely not to earn profits.

They did not get reliable experience because they follow everyone without make a correct investigation which is very important. In my opinion just learn and do by yourself as self decision are more better than following the decisions of others.

As a beginner you would think that if you copy someone who's profiting in trading of course you would follow his advice despite the fact that he's no professional or much worse it's made up by AI since nowadays you could gather information by just simply ask an AI. Which is not a good way to trade since you couldn't rely your money on AI cause you won't learn anything if you just want to get spoodfed by an AI.

Crypto is that field in which scammers and wrong people enters very easily and no one can identify them. Large number of groups are created just for getting income from it by spreading that information which is useless.

Here one should take every step Wisely and try to inquire as it is about your financial system which does not stabilizes easily.

I think everything that has involved money has always scammers and hackers for online. Even in gambling sites, simple link that looks not harmful but once you clicked it your wallet would be drained. In investing like real state, sometimes once you paid them you couldn't even own the land since the company you've invested are fake. Mostly of the scammers comes with a group so they could easily manipulate newbie. Just do some DEEP researching so you could exactly know what you are doing plus can avoid scams.

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[KingsDen]

Even a professional trader will at a time lose money. What differentiates a good trader from a bad trader is whether they are running on losses or profits on the long run.

Successful traders are not only measured by how much returns they get - they also need to know a lot about how to do analysis and how the market works.

It seems I will disagree with you here. It doesn’t matter how well a trader knows the charts, how well he knows about the fundamentals and his overall knowledge of the market. All these are skills needed by every good traders. But if anyone possess all these skills and yet do not win on the long run, we cannot say that the trader is a successful one.

As I said above, there are win days and loss days for every trader. If your winnings do not exceed your losses, you are not a good trader, no matter how skillful you are.
In the other hand, if a beginner trader who doesn't know much about analysis of trade, finds a way to win more than lose, that beginner is a successful trader more than a professional whose losses are more than wins.

[Franctoshi]

It seems I will disagree with you here. It doesn’t matter how well a trader knows the charts, how well he knows about the fundamentals, and his overall knowledge of the market. All these are skills needed by every good trader. But if anyone possesses all these skills and yet does not win in the long run, we cannot say that the trader is a successful one.

As I said above, there are win days and loss days for every trader. If your winnings do not exceed your losses, you are not a good trader, no matter how skillful you are.
On the other hand, if a beginner trader who doesn't know much about the analysis of trade, finds a way to win more than lose, that beginner is a successful trader more than a professional whose losses are more than wins.

Exactly no trader can boast of zero loss in trading even professional traders, whether you are trading with a robot, AI, or super-intelligent computers, Profitability in trading is determined by your past profit and loss trading records (+ and -) over the years of trading and not something of three or six months of trading.

[sulendra12]

We can just skip market analysis, not put in any effort or time, and have someone else handle our trading. It sounds almost too good to be true, doesn't it? That's what copy trading offers us, but can we really trust it?

Well if beginners all they care about are just money and profit then copy-trading might be thing for them because they don't need to learn anything and just copy whatever the pick from traders they are copying. But in the long run if those beginners really want to know about how they do it by themselves then that's going to be a problem because you have zero idea on how to do it.

Also most of the picks are just really bad and that would make them demotivated even more because they gain nothing from it.

[awik p]

when I was a beginner, I decided to study with my friend, so it would be easier for me to ask questions about what I didn't know, I saw the way he made transactions and asked after closing positions, so that over time I learned the basics of trading. , actually it's the same if we do copy trading, but after I learned the basics I started practicing on my own, but the most difficult thing was learning to control psychology, because even though I already knew something that shouldn't be done, I still violated it

[Viscore]

well the thing here is that you are copying the trading activity that the so called pro trader is having, finding traders thats really good at the thing they're doing is quite hard honestly.
i bet many the so called pro traders are also just don't have idea how to make a good trade if they don't find information before hand.
I guess its good if you are really beginner at the field and just wanna get starting up fast, then I guess it does make sense just to follow the path of those pro in trading.
but for long term you should make analysis based on your own deduction.
however, if the trades that you are following from these pro traders turns out to be really good, nothing wrong in keeping things like the way it is, basically just follow them until you hit your target.

It’s not bad actually to follow a pro and successful trader, but know that there is no excuse from the risk of losing in trading. So never expect that if this professional trader becomes profitable most of the time, then he will guarantee high profitability in the future. The market is changing, and so with how the traders attack the market. They can be profitable today, but no one can guarantee if they will still be as productive as today in their next trades. That’s the reason why traders should never rely mostly in copy trading, at times it can be profitable, but most of the time it can be a source of high financial loss.

[Nrcewker]

Copy trading is good method to make quick profits if done it properly. But what goes wrong is that Newbies starts complaining when they make loss due to these copy trades. They know that when they are trading, they should be equally ready for both win and losses, but when they face loss, they started cursing the trader, whose trades they are coping. It they get enough knowledge to accept both wins and losses, then definitely as a beginner copy trading can give you good profits.

[xSkylarx]

when I was a beginner, I dec
ided to study with my friend, so it would be easier for me to ask questions about what I didn't know, I saw the way he made transactions and asked after closing positions, so that over time I learned the basics of trading. , actually it's the same if we do copy trading, but after I learned the basics I started practicing on my own, but the most difficult thing was learning to control psychology, because even though I already knew something that shouldn't be done, I still violated it

Ive done the same, but copy trading is very different. If you just copy a trader, you're good, with no explanation or whatsoever, unlike with your friend, who has a discussion over it in which you can learn and still learn the basics, unlike a few newbies who are just relying on the trader they copied and then waiting for their portfolio to be green or red. What I really noticed about copy trading is that only the trader you've copied will be earning more, as he gets a cut every time someone copies his trade. For beginners, it is really recommended to learn before doing something else.

[Woodie]

Copy trading being a Marketing tactic no its not!!

Copy trading was initially meant for users with more than 2 accounts on same platform or several platforms to allow them to open trades automatically without having to do it manually several times for the same trade...

But overtime , some of these platforms have changed how it's used by allowing other traders including beginners to copy profitable traders by monetizing this process which is a win win for both parties and with time will grow in popularity.

[GreatArkansas]

(......)
So, is copy trading legitimate? Yes, it can be a legitimate way to invest if you do your research and select the right traders. However, it's important to remember that there is always the risk of losing money, even with copy trading.

It's trading but it's kinda not worth it, the risk is not worth it because if the master traders win some trades, your profits are kinda low because the master trader got their share and if you lose, you lose your money.
For me, finding a good master is good especially the master trader got good risk:reward ratio even over the time profits is low, as long as it is stable.

[Latviand]

Copy trading is easy, less hassle, however, the challenge on it is to find the right trader that'll give you profits most of the time. The disadvantage is that his trading funds could be bigger than yours so there's a chance that your funds could be burnt in no time while his funds doesn't even budge. So in my opinion, doing copy trading has its own risk and the final decision is yours to make.

This, people always shit on copytrading whenever someone ask if it's worth it which is kind of stupid given that if you can ride with the best traders in the market and make profit when they make profit, I think that you should take it but as you've said, tread lightly and choose the right trader which isn't that hard to find as most sites that do copytrading have the stats of the traders so you can see who's going to make you more profit. People always disregard the benefits of more time spent on other things, I guess you want to control how iu make money is a strong reason why you want to sacrifice time and convenience.

[Fivestar4everMVP]

Copy trading from my own personal experience is sure one of the easiest way to make money in trading, well, easy it seems, but its not as easy as it often seems, some newbies often think otherwise but the truth is that, the chances of losing money in copy trading is still very high, most especially, if you by any chance copy trade from the wrong trader, and one thing about copy trading is that, even past history and reviews of a trader does not offer or prover any form of guarantee to trust their judgement going forward because, at any time, their strategy could fail and you who have invested money to copy their trades/strategy would loss money.

So in my own personal opinion, i believe the best way to be really profitable in trading is to train yourself, learn everything that there is to trading, become a professional yourself so you don't have to copy trades from others, but have others copy trades from you instead.

[LogitechMouse]

Copy trading is legit, and many brokers, and exchanges are offering it. The first time that I heard this term is from eToro, and it seems good if you heard it for the first time especially if you lost huge amounts of money already in trading because you can just copy what those experts are doing, and you don't need to read the charts, or make some analysis because the experts will do it for you. Well, that's what you think at first, but it doesn't work that way "always".

Is it a legit source of income? Yes, but is it a reliable source of income? It's a NO because there's still a chance that you might lose money copy trading those experts. In the end, it's always good if you yourself know how to trade, and you can make more profit from it compare to just copy trading them. Is it a marketing tactic? Kind of because like I said, those who lost huge money in trading might see this as their way to make profit without doing too much analysis, and chart reading thus, they will register to that broker/exchange, deposit money, copy trade, and let the magic begins.

TBH, I might try copy trading in the future. I will put a small portion of my money, and do copy trading for at least 6 months up to a year.

[Dr.Bitcoin_Strange]

If not that some exchanges have started to integrate "copyable trades" that their customers can copy right on the platform, which is still not a guaranteed way of making profit in trading. Some time around 2021 and 2022 even till now, there was a popular trend about some groups on Telegram, Facebook, Twitter, YouTube, and some other social media that offered traders some paid copied trade, and some newbies were really falling victims to those copied trade service groups, meaning they were not even earning any profit but rather enriching the service providers. A real trader learns how to do things themselves because it will earn them more experience and profit.

[Mahanton]

Copy trading is easy, less hassle, however, the challenge on it is to find the right trader that'll give you profits most of the time. The disadvantage is that his trading funds could be bigger than yours so there's a chance that your funds could be burnt in no time while his funds doesn't even budge. So in my opinion, doing copy trading has its own risk and the final decision is yours to make.

This, people always shit on copytrading whenever someone ask if it's worth it which is kind of stupid given that if you can ride with the best traders in the market and make profit when they make profit, I think that you should take it but as you've said, tread lightly and choose the right trader which isn't that hard to find as most sites that do copytrading have the stats of the traders so you can see who's going to make you more profit. People always disregard the benefits of more time spent on other things, I guess you want to control how iu make money is a strong reason why you want to sacrifice time and convenience.

You wont really be asking out the community whether its legit or shit which you could eventually be able to find for yourself on the answer that you are seeking. You could really be able to find if copy trading is really that profitable or not for someone to make deal with it. Not all would really be that having this kind of option but cant really deny the fact that it is really that simple and not really for you to exert effort on which you could actually able to place out orders basing up with others calls. Its not bad but not something that could make yourself that able to learn or would be enhancing your trading skills specially if you are just starting up.
We know that manual trading is much preferable on which you would be able to make yourself that enhancing your skills on trading and could really be able to make yourself that independent on the time that these
copy trades would be gone. Also, it doesnt assure out profits because not all the time these copy trade makers would be always that profitable specially if the market would be making out some significant movement.

[Latviand]

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You wont really be asking out the community whether its legit or shit which you could eventually be able to find for yourself on the answer that you are seeking. You could really be able to find if copy trading is really that profitable or not for someone to make deal with it.

That's where you're wrong, what's the point of using the forum if you can't ask people here about things, their experience and thoughts about things right? In the case of copytrading, wouldn't it be better if there's comforting words about the experience of other people about using it right? It's good to learn from experience but it's much better to learn from the experience of others right?

~

Not all would really be that having this kind of option but cant really deny the fact that it is really that simple and not really for you to exert effort on which you could actually able to place out orders basing up with others calls. Its not bad but not something that could make yourself that able to learn or would be enhancing your trading skills specially if you are just starting up.

That depends though, you and others who don't prefer copytrading are leaning more into manual trading which I don't see as anything bad since we have our preferences, and I myself don't really want to learn the nooks and crannies of trading because I have other things going on with my life and if copytrading offers me that convenience, then why not right?

~

We know that manual trading is much preferable on which you would be able to make yourself that enhancing your skills on trading and could really be able to make yourself that independent on the time that these
copy trades would be gone. Also, it doesnt assure out profits because not all the time these copy trade makers would be always that profitable specially if the market would be making out some significant movement.

Again with the preference, copytrading won't be gone soon imo, as long as people can make profit from it, there's one bound to exist out there, copytrading isn't a fad. I think people that use copytrading know that thing about not being guaranteed a profit, that's almost always what the argument is when people try to shit on copytrading.

[WatChe]

They did not get reliable experience because they follow everyone without make a correct investigation which is very important. In my opinion just learn and do by yourself as self decision are more better than following the decisions of others.

Crypto is that field in which scammers and wrong people enters very easily and no one can identify them. Large number of groups are created just for getting income from it by spreading that information which is useless.

Here one should take every step Wisely and try to inquire as it is about your financial system which does not stabilizes easily.

I never heard anyone getting continuous success by following copy trade or followijg signalling group. Its better to make decisions from your own mind in this way either you will get success or learn something which is not possible otherwise. The only person getting rich in copy trade or signalling group is the person selling the ideas. If there ideas are that much worthy they must not selling them for 20 to 30 bucks per week.

[fullhdpixel]

Many times copy trading does not give reliable experience, because some of those who provide for this copy trading are actually not real and professional traders on their own. They just simply make this a source of living out from the payments they get from those who carelessly subscribe to them. So yes, it would be more acceptable if those who copy trade are just for fun, and definitely not to earn profits.

They did not get reliable experience because they follow everyone without make a correct investigation which is very important. In my opinion just learn and do by yourself as self decision are more better than following the decisions of others.

Crypto is that field in which scammers and wrong people enters very easily and no one can identify them. Large number of groups are created just for getting income from it by spreading that information which is useless.

Here one should take every step Wisely and try to inquire as it is about your financial system which does not stabilizes easily.

I think copy trading wouldn't make sense anymore if we are already good at investigating things. So, I believe that copy trading is mainly created for the newbies to help them earn immediately in the trading scene even with less knowledge on their head. The only thing that a newbie will take care of is the winning rate of the traders.

A high winning rate basically means they are more successful in their trades so they can just go for it. I still think that these newbies will soon try to trade on their own because they will get curious if how it's like earning a full income and also if they will get tired of losing money because the trader did not perform well or they picked up a scam platform.

[wxa7115]

They did not get reliable experience because they follow everyone without make a correct investigation which is very important. In my opinion just learn and do by yourself as self decision are more better than following the decisions of others.

Crypto is that field in which scammers and wrong people enters very easily and no one can identify them. Large number of groups are created just for getting income from it by spreading that information which is useless.

Here one should take every step Wisely and try to inquire as it is about your financial system which does not stabilizes easily.

I never heard anyone getting continuous success by following copy trade or followijg signalling group. Its better to make decisions from your own mind in this way either you will get success or learn something which is not possible otherwise. The only person getting rich in copy trade or signalling group is the person selling the ideas. If there ideas are that much worthy they must not selling them for 20 to 30 bucks per week.

You have not heard about it because it can not happen, the owners of exchanges are very smart, they know they need people trading with them or they cannot make any money, so how they can convince someone that is afraid about losing their money to risk it all even if they do not know anything about the markets?

By making them believe they still have a chance to make money anyway, and copy trading is perfect for their purposes as they can claim a lot of money can be made in this way, hiding all along the ones that will make that money are the exchanges and not their customers.

[Gallar]

We can just skip market analysis, not put in any effort or time, and have someone else handle our trading. It sounds almost too good to be true, doesn't it? That's what copy trading offers us, but can we really trust it?

For trust issues, it all depends on the copy trading platform that will be used. Because if the copy trading platform is indeed trusted and has a very good reputation, in general a copy trading platform like that can be said to be trusted.

~Snip
So, is copy trading legitimate? Yes, it can be a legitimate way to invest if you do your research and select the right traders. However, it's important to remember that there is always the risk of losing money, even with copy trading.

Copy trading is indeed a legitimate platform, to be used as a way of trading, especially in the crypto field.

But to be honest, I prefer to trade independently rather than relying on a copy trading platform. Because even though I am not really an expert in trading in crypto, I have more confidence in myself, rather than having to rely on and trust other people to make the trades that I have. In addition, if for example I only depend on the copy trading platform, it is very likely that my trading skills will not improve properly. That's why I prefer to trade independently, because in terms of ability (fundamental, sentimental and technical analysis) it will definitely be better honed. Because apart from that, trading independently always has its own satisfaction. Whether it's a loss or a gain, but if it's the result of your own hard work, you'll be more satisfied.