Copytrading with Binance Leaderboard traders

[Faisal2202]

Thanks for sharing your trading experience and thoughtful insights. It is true that every formulates his trading strategy as per his convenience and mindset, and these tendencies are not easily subject to change. It is also true that rise of technology has provided us with range of tools that provide automation, a development with both advantageous and disadvantageous effects. I personally prefer to use my set of  traditional technical indicators to explore trading opportunities.

I doubt this discussion will turn into a debate about the revolution of AI and how it has changed the way people work. Hehe. I totally agree with your decisions, as in trading we should only use AI algorithms to enhance the accuracy of our trades, not just fully rely on them. As usage of the brain is also necessary to use such AI tools, which is also not easy and not everyone could do it,

The point is, I was both amazed and shocked at the same time that people are doing copy trading and also automating it. I mean, the laziness is just on top, but many copy traders are really making decent money, and for them, such tools could be of great use. I admire such new technologies and platforms that provide services like these because the initiation of such projects will increase the competition, and there will be more platforms in the market. The higher the competition, the better the outcomes one could get with good offers.

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[tradepickernet]

First of all, copying others is not the right approach while trading.

From my experience, it is a lot better than trading on your own if you're a beginner.

[tjtonmoy]

First of all, copying others is not the right approach while trading.

From my experience, it is a lot better than trading on your own if you're a beginner.

That's your choice. You can do whatever you want with your assets. But promoting such things and encouraging beginners to start their journey with this or even focus on this while they are trading on their own is not a good thing. I don't know what experience you had, but I can tell that experience was not smooth. Either you are still a beginner and using (depends) on this or you are promoting your own thing. That's why you are saying this.

But you learn nothing from copy trading. You can't change my mind. You don't need any skills or analysis in order to trade. You are gambling mate. You are following a hoard that will lead you to your doom once they are doomed. It's a chain reaction. So be careful before you suggest or tell someone to do something. In the end, if they lose, you will be the one to blame.

[Lakai01]

From my experience, it is a lot better than trading on your own if you're a beginner.

You can do that, of course, but then you must not call it trading - and certainly not call yourself a trader. You do nothing else but let someone else decide about your investment strategy - and thus ultimately your coins.
You learn absolutely nothing and, what I find even worse, you are always dependent on other traders. If these traders stop, your "investment strategy" goes down the drain. If they have a bad run, they pull your investment capital with them and you have - for lack of own skills - no chance to counteract.

Copytrading can be fun and bring in profits, but it is absolutely not allowed to call it a trading strategy.

[sana54210]

From my experience, it is a lot better than trading on your own if you're a beginner.

You can do that, of course, but then you must not call it trading - and certainly not call yourself a trader. You do nothing else but let someone else decide about your investment strategy - and thus ultimately your coins.
You learn absolutely nothing and, what I find even worse, you are always dependent on other traders. If these traders stop, your "investment strategy" goes down the drain. If they have a bad run, they pull your investment capital with them and you have - for lack of own skills - no chance to counteract.

Copytrading can be fun and bring in profits, but it is absolutely not allowed to call it a trading strategy.

Honestly the person who is copy trading is not really after calling themselves anything and just looking to make more money. The point is not to call yourself a trader or not, that doesn't matter at all for them, the point is to get richer and if you do end up richer in the end then you did what you wanted to do and that's it.

I think the bigger issue is that they are not making that much money neither, some of them might do it but majority of them do not make a profit and they lose just because they trusted someone else. The fact that they should learn how to trade themselves stands and they still do not do that and unfortunately that causes a lot of trouble for them on the long run, should be considered to taken a look.

[tradepickernet]

Just a gentle reminder to our users:

it is possible to add any trader from the actual Binance Leaderboard, upon request.

[Hamza2424]

Just a gentle reminder to our users:

it is possible to add any trader from the actual Binance Leaderboard, upon request.

OP I do agree with you..
On that in support of yes we can do it

But at the same time, my question to you is what are you seeking from it? Are you trying to learn, get inspiration want diversification or anything like you want some kind of help in comparing your analysis with the top performers to obtain useful insights? My honest answer to this as I am asking it and I want to put a general wordic on it.

So most people do that to just find a way (Shortcut to ) the success, and people most of the time achieve it but the end result is they make a few bucks but they haven't learned anything if they will continue to do so they will find them self in loss as not always shortcuts work. So my stand on the copy trades and I found a term on the other thread that mirror trade is eventually not good for the Biggenars. Thats it.

[Lakai01]

Honestly the person who is copy trading is not really after calling themselves anything and just looking to make more money. The point is not to call yourself a trader or not, that doesn't matter at all for them, the point is to get richer and if you do end up richer in the end then you did what you wanted to do and that's it.

I can report from personal experience that people who follow Copy Trader definitely see themselves as (successful) traders. I have a few people in my circle of friends who had tried copy trading at least temporarily and suddenly became "the best traders in the world" ... and also liked to criticize those traders they followed. Of course, this only went well as long as the traders had made profits. With losses one heard - logically - then nothing more of it.

I think that is also in the nature of man. Many simply like to brag about their successes, even if - as in the case of copy trading - they are not even their own successes but simply followed other people.

I think the bigger issue is that they are not making that much money neither, some of them might do it but majority of them do not make a profit and they lose just because they trusted someone else.

I have been following well-known traders like Tone Vays or Brian Beamish very intensively especially in 2017 and 2018. Also these traders usually make the profits with only 1-2% of their trades, so the long term profit and loss statistic at that time was around 48% loss to 52% profits. However, the few percent decide whether you succeed in the long run or not ... It is possible that professional traders participate and let you follow, but you have to follow them for a very long time to be able to take the profit streaks - which will definitely exist.
With short-term follows Copy Trading is more like a gamble - and you will most likely lose a lot of money.

[el kaka22]

It is definitely a method some people use, I am not going to say if it is a great idea or a terrible idea but I can say that it is one that a lot of people uses. I think it is still risky, and I am not really fond of copy trading to be fair but when we are talking about something like this, it means that this could be the best version of it. Think of it like having the best of a bad thing, copy trading is bad in my books but if you have to then you might as well do it using Binance, at the very least the results will be a lot better for you.

But, make sure that you still learn a lot from it and you do better with it because it would end up with a result that would be a little different and yet you will end up with a good result.

[tvplus006]

...Binance and Bybit allow you to disable withdrawal permission on your account API, ..

Yes, that's really true. But only no one can stop you from buying a shit coin at a high price and thus destroy the deposit. Besides, I don't understand why I should use your platform as an intermediary if I can connect directly to the Binance.

[tradepickernet]

This is a bump

[tvplus006]

This is a bump

What was the point of a bump thread if only half an hour had passed since the last message in the topic? You could just answer any question, especially since enough of them have been asked to your address, and the topic would have been raised up.

[goaldigger]

This is a bump

What was the point of a bump thread if only half an hour had passed since the last message in the topic? You could just answer any question, especially since enough of them have been asked to your address, and the topic would have been raised up.

I'm thinking the same thing, maybe this copy trading will make fortune to them if many will adopt.
Well, what's the purpose of copy trading and how reliable is this since how can you know someone's strategy in Binance trading?
Can you explain OP more details about this project and your advantage over other services with the same purpose.
As a trader, I appreciate this kind of project if its free since it allows me to learn more but if I need to pay more just to get such strategy, then I might skip this one.

[jostorres]

From my experience, it is a lot better than trading on your own if you're a beginner.

You can do that, of course, but then you must not call it trading - and certainly not call yourself a trader. You do nothing else but let someone else decide about your investment strategy - and thus ultimately your coins.
You learn absolutely nothing and, what I find even worse, you are always dependent on other traders. If these traders stop, your "investment strategy" goes down the drain. If they have a bad run, they pull your investment capital with them and you have - for lack of own skills - no chance to counteract.

Copytrading can be fun and bring in profits, but it is absolutely not allowed to call it a trading strategy.

It isn't but it's rather called Copy-Trading. Other than it, there is also one where we copy signals from a certain group although on that one, we are the ones who manually apply the strategy/signals but I think that one is much better because at least there are some effort and it might help us familiarize the market well.

If the investors that we are copying stops, then we can always move on to the other trader. There are lots of them. Copy-Trading might only be fun if we are profiting while if we are the ones who trade, the fun is still experienced sometimes even if the trade didn't go really well. I think I agree that copy trading is not a trading strategy but it's only one of the ways to earn here in the trading world.

[teosanru]

Good evening crypto people!

I'm here to introduce you to TradePicker, a web app that lets you
copy the best traders from Binance's official list.

Take a look at
https://tradepicker.net/

This is Binance's official Leaderboard and with our tool you can copy any
trader of your choice listed here:
https://www.binance.com/en/futures-activity/leaderboard

In trading i believe a difference of even seconds can give you different results, also trading isn't just about a single asset, there are multiple trades you'll have to take in order to stay in a net profit otherwise just taking a few trades of any professional trader won't really help you in any manner. Also I feel copy trading is just another new thing of trading world trending for lazy people.

[logfiles]

I explained above, in another comment, how the security risk is almost zero.

Almost Zero is not Zero,

For those who are concerned about security risks, let me explain you how we have no security risk.

Binance and Bybit allow you to disable withdrawal permission on your account API, that is going to prevent
any security failure and any eventual data breach, furthermore, your keys are encrypted into our database.

Even 3commas promised the same thing. Disabling withdrawals does not mean the hacker won't perform unauthorized trades, which still can lead to loss of user funds.


I am still yet to understand why someone would pay to use your platform to copy traders, yet they can just do it on binance or bybit for free without having to risk their API keys with a third party.

[tradepickernet]

You either have no knowledge of internet or you want us to lie. Because ZERO risk of data breach is literally IMPOSSIBLE.

Facebook, Twitter, Instagram and every other popular platform on earth has suffered from a data breach.

However, since your informations are encrypted, it would take 50 years for an hacker to decrypt your keys and therefore, you're SAFE.


About your second question: binance does not offer any copytrading option, that's why we exist.

[Beparanf]

What’s the difference between your copy trading service offered to the built-in copy trade feature on the Binance itself? They also have leaderboard in there that allows user to copy those who apply as copy trader with portfolio available for each trader.

You should mention the advantage of using this service on your announcement to easily inform all the viewers here about your service specialty.

[tradepickernet]

The service is still running.

[jossiel]

I am not a fan of copytrading but I am starting to see the sense of it. Or I am just fed up by those contents of forex traders that are copytrading the best in the leaderboards.

Does your service have a stats on how many have registered or you have in a group? does this have an actual software where users meet or you have a certain group where you just drop all of those details. Sorry, I don't want to dig a lot on the thread if those were already answered.