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

[Finestream]

I do not see it as a marketing tactic nor a legit way to provide income for beginners. Yes, it can be profitable at times but you can never anticipate profit assurance out from copy trading regardless if you are copying trades from trading experts or not. Because the fact that trading is always unpredictable and it’s market seems very unstable most of the time, then trading at a high caution should be done by following on what you think is right based from your acquired knowledge and even trading experiences. That’s the reason why I don’t see copy trading a reasonable way to make profits, but if you’re actually doing it with caution and ensure that you get it from a very reputable source, then I guess it will still be an effective way to make profits, but maybe beginners are an exception.

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[mvdheuvel1983]

Copy trading isn't for beginners. Only mid level traders and professional or expert traders should copy trade. By the way, this.isnthe most laziest way to make money off of trading. Real and more experienced traders would never advice any beginner to copy trade because there is no skill acquired from copy trade. Beginners are called beginners for a reason. They have to start from the beginning and learn the basics of trading. Their priority at the beginning should never be to make money but to learn the steps that it entails.

[tjtonmoy]

~Snip

In simple words, don't copy trade. It's not the best way to do trading or learn to trade. You are just copying others' work. What's that gonna teach you? Nothing! This is something that will not be available all the time. What will you do if one day it's gone? Someone else doing your work for you? What are you paying? Because nothing is for free anymore.

For me, it's a way of learning. Doing the work on your own and then comparing it with someone else who is a professional will give much better results. You can also manage your risks according to your calculations. In the long run, the thing you learn on your own will stay with you forever. One strategy does not always work in the evolving crypto market. It is good to have multiple strategies. It can only be done when you do it on your own. So take your time to learn the process instead of copying it.

[PaulPeterPedro]

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?

There are a few things to consider when evaluating the legitimacy of copy trading.
 First, you need to make sure that the platform you're using is regulated and has a good reputation. There are a number of scams out there, so it's important to do your research.

Second, you need to carefully select the traders you want to copy. Some traders have a better track record than others. Make sure you look at their performance history and read their reviews before you commit any money.

Finally, you need to remember that copy trading is still an investment, and there is always the risk of losing money. Even if you're copying a successful trader, there's no guarantee that they will continue to be successful in the future.

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 can be a legitimate way for beginners to generate income. Still, when choosing a copy trading platform, it is crucial to consider the fees charged, the types of assets available, and the track record of the traders you are copying.

Remember that copy trading is not a get-rich-quick scheme. You can still lose money by copy trading, even if your copying trader has a good track record. Be aware of the risks involved before you start copy trading.

[Sanitough]

Copy trading isn't for beginners. Only mid level traders and professional or expert traders should copy trade. By the way, this.isnthe most laziest way to make money off of trading. Real and more experienced traders would never advice any beginner to copy trade because there is no skill acquired from copy trade. Beginners are called beginners for a reason. They have to start from the beginning and learn the basics of trading. Their priority at the beginning should never be to make money but to learn the steps that it entails.

Absolutely. Regardless if copy trading makes a great advantage to acquire profits, but it all depends on how capable the user is to copy trade. And obviously, beginners have no idea about copy trading, and even if they’re aware too, their level of understanding copy trading is only minimal. They may take some beginners profits but in the end they will still end up losing. That is why copy trading are never advisable for beginners. In fact, beginners are not allowed to trade in the first place, instead their focus should be on learning acquisition and on how to maximize their level of understanding through minimal crypto engagement.

[Japinat]

If there are chances that copy trading becomes effective and creates higher profitability, then obviously those that are done by professional traders. And those trades that are actually made by reliable and prominent service providers. However, in the case for beginners, I would say that the most possible outcome that will happen is only to see them losing. Why? Because they are not supposed to trade without honing their skills and strategies first that will make them capable to trade successfully.

[freedomgo]

Copy trading is a way for a lot of bad traders to earn money off fees(they take a small cut). They might look like good traders because of their less-than-2-years-long track record, but a huge majority of them end up losing money in the end.

I’d say only do copytrading if you want to have a little bit of “fun” with some of your spare cash.

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.

[Franctoshi]

I'm not sure about it, but I haven't seen anyone that is profitable on it, i.e., those who copy tradetraders , unless they just become thenes who have  been copied on the platform because there are tons of fees I've seen and also again your profit on it will be cut and you  onlyet  tons of profits There are those who have been copied and again for sure those traders only have few years of track record andre not that established which is why they are joining the platform to earn more.

When I see discussions about copy trading, from my personal experience with real profitable traders some of them don't make their trades available for copy, I can only advise copy trading in the following conditions,

1. If you are busy and don't have much time to trade.
2. If you are seeking alternatives or other streams of income but aren't interested in trading.

Lastly, the trader that you want to copy must have track records of years of profitability in trading to commit your money.

[DoublerHunter]

Copy trading is a way for a lot of bad traders to earn money off fees(they take a small cut). They might look like good traders because of their less-than-2-years-long track record, but a huge majority of them end up losing money in the end.

I’d say only do copytrading if you want to have a little bit of “fun” with some of your spare cash.

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.

^ Probably because copy trading often falls short of providing a reliable experience due to the prevalence of unverified and inexperienced providers. Many individuals offering copy trading services are not genuinely skilled or professional traders themselves. Instead, they use this as a means of income, capitalizing on subscriptions from unsuspecting users. In my own opinion, using copy trading for recreational purposes seems more reasonable, rather than relying on it as a means to generate profits.
As I say, trying even once or twice in copy to gain experience is not bad at all, but if you are relying with your whole life in copy trading which is a wrong decision.

[justdimin]

Copy trading isn't for beginners. Only mid level traders and professional or expert traders should copy trade. By the way, this.isnthe most laziest way to make money off of trading. Real and more experienced traders would never advice any beginner to copy trade because there is no skill acquired from copy trade. Beginners are called beginners for a reason. They have to start from the beginning and learn the basics of trading. Their priority at the beginning should never be to make money but to learn the steps that it entails.

I agree that you are going to be trading yourself instead of making the movement yourself and that's why there is going to be something that will make some changes for some people if they end up copy trading, it's better to make a change yourself and trade yourself if you can. However, I do not think that mid level and veteran traders will end up using copy trading, that doesn't really make any sense and I think that it will not be something that will benefit anyone at all.

I think it's obvious that we are going to end up with a situation that will be better. This is why it's easier to just focus on what you have and instead of copy trading as a veteran, let that be the what newbies do, newbies should copy the veterans instead.

[Mauser]

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.

Copying a successful trader is a good start for any beginner. In case we have access to the trading strategies of experienced traders I would recommend anybody to take a look at them and implement them if it still makes sense. Blindly following a successful trader however is not going to work forever. Just because we make money in the first few months is no guarantee that we are going to keep making money of the strategies. The crypto markets are changing all the time and we need to keep reevaluating our positions and adjust them to new market conditions. How likely is it that the experienced trader will let us know when he closes down position? In case we pay the trader with a monthly subscription then I wouldn't worry so much, but if not I would be cautious. It could be devastating to be stuck in a trade that we should have closed out weeks ago. Getting inspirations for trading strategies is a good thing, just make sure you understand it and do some own research.

[Jody.Drummer]

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.

Copying a successful trader is a good start for any beginner. In case we have access to the trading strategies of experienced traders I would recommend anybody to take a look at them and implement them if it still makes sense. Blindly following a successful trader however is not going to work forever. Just because we make money in the first few months is no guarantee that we are going to keep making money of the strategies. The crypto markets are changing all the time and we need to keep reevaluating our positions and adjust them to new market conditions. How likely is it that the experienced trader will let us know when he closes down position? In case we pay the trader with a monthly subscription then I wouldn't worry so much, but if not I would be cautious. It could be devastating to be stuck in a trade that we should have closed out weeks ago. Getting inspirations for trading strategies is a good thing, just make sure you understand it and do some own research.

Copying the trading methods of these experienced traders can be a great first step for beginners. They will be able to gain a lot of experience there by copying the methods of those who are already experienced not only the profits they get. But I would say it is only for beginners who are willing to improve, I mean for those (beginners) who are willing to learn it, do a lot of research in the strategy of copy trading and take the knowledge, it is very helpful to be one step ahead as a trader. There is no better way except to do it with your own knowledge and method, like you said they will only get temporary benefits there if they continue to use other people's methods. Market conditions will continue to change at any time, and therefore I think it is much better if we use our own way of trading. So we will be able to do various ways according to our knowledge to minimize losses if the market changes instantly. And also with that I think we will be able to be more precise to make decisions in urgent positions. 

[AicecreaME]

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.

[Cryptomultiplier]

Copy trading as a new initiative by some exchanges like Bitget who promises to be an advanced trading solution to pro traders, might just be another of its marketing tactic. One thing to note however is that every existing platform or crypto/coin has its own marketing tactic which is the core as to why it operates.
Hence, copy trading for me is a also deemed reasonable as a marketing tactic.

Also, I think traders who understand the basics of trading, have tried trading at least more than 3-10times, can try copy trading feature from a reputable exchange. I believe one can only copy what he truly understands, else failure is going to be the result.

[abel1337]

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.

Even copy trading is much easier than regular trading, it still need something to do or maintain especially in the beginning. A lot of research need to be done on the trader you are copying and the strategy that the professional trader is doing because like you said you can be burned if you don't have that much funds. Basically, it's not something that a pure newbie who can successfully execute everytime. I think it's for someone that has an experience to fully take advantage of this service/system.

[Russlenat]

Beginners are not advised to trade and expect to earn profits, since they don’t have the sufficient knowledge and skills to trade in the first place. Instead, they should focus on knowing and understanding the crypto coins and it’s unpredictable market. Later on, once they gained good experience and training in the market, maybe they could start exploring trading as well but should never expect quick profits.

[KingsDen]

Copy trading can lead us into profits at some point, but it can never ultimately provide us a consistent flow of income. Nevertheless, even trading itself cannot ensure beginner traders to earn from it because of the high risks that are involved in trading. Furthermore, what makes it more dangerous to use is that you are copy trading from a very unreliable trading provider. You will not only lose your capital and future profits, but the time you put into it will only go into waste.

Everything in this cryptocurrency industry is all about risk-taking. 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. You cannot use a very short time to measure the professionalism of a particular trader.

When you talk about copy trading it is also risky, but this time around the risk is more uncontrollable by the copy trader because the signals and method of trading is not emanating from the copy trader. It is rather coming from another person therefore, the copy trader might not be able to control the trade if things are going wrong.

However, I prefer copy trading to bots trading. I know all of them is risky, but the most important of them is that you should learn how to trade by yourself at least.

[_BlackStar]

-snip-

Everything in this cryptocurrency industry is all about risk-taking. 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. You cannot use a very short time to measure the professionalism of a particular trader.

When you talk about copy trading it is also risky, but this time around the risk is more uncontrollable by the copy trader because the signals and method of trading is not emanating from the copy trader. It is rather coming from another person therefore, the copy trader might not be able to control the trade if things are going wrong.

All investments and strategies are inherently varied in risk - so each trader must adjust that risk to the extent of what they can afford to lose. Copy trading is one strategy that can make it easier for a trader to profit over other traders' strategies - but I wouldn't really recommend anyone to try it.

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. A trader's performance is highly inconsistent from trader to trader - so copy trading is not a perfect way to adopt over time. It may be great for the early days as a beginner or non-experience trader, but they need to learn a lot to become independent traders.

However, I prefer copy trading to bots trading. I know all of them is risky, but the most important of them is that you should learn how to trade by yourself at least.

As long as you understand the risks and you do it wisely - then you can choose that strategy. But remember - don't get addicted.

[shinratensei_]

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.

[MFahad]

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.