Trading on your own vs social trading and copy trading

[gabbie2010]

I think that by trading on my own I am just overtrading...I am looking for options to get trading ideas/trading signals etc to analyze those ideas and select only the best ones.
What options does one have to view trading ideas/signals from other professional traders?

Trading on your own would prevent unnecessary distractions from trading signals, firstly you devise your trading strategy obtained from any source mostly from YouTube practice it with demo or stimulated trading until you become consistent in making profit, personally I only visit twitter to learn from professional traders to learn and follow their chart analysis and how I can improve it on my own trading strategy if possible make some amendment if necessary, however it's not about changing the strategy everytime if in losses are incurred thus I am trading on my own I knew isn't is a smooth journey without a mentor however I believe with time I would gain more experience towards becoming a professional traders.

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[knowngunman]

It is a very effective method for traders through which a new trader can earn money and learn trading. Normally in Copy Trading a trader can learn a lot by following an experienced trader. Copy trading provides a good opportunity to know how and when a trader should take trades and what his expectations should be. But trading must take risks. Since a new trader trades by copying others through copy trading, if that trader makes a mistake, he will also face mistake, his loss means your loss.

You are on point but I will not agree with this opinion despite I know it has its advantages but without doubt, the disadvantages are more than its advantages. Aside that the of the person you are copying their trade is also your lose, it also makes you to become too lazy to do your own analysis. I mean when you are addicted to copy trade, you'll become too comfortable with it and solely rely on it to trade and when you don't have someone to copy again, your trading career comes to an end. Of course, copy trade can help you to compare and come up with more reliable analysis but I advise one to learn and focus on making trade on their own without being reliant on someone.

[Fredomago]

It is a very effective method for traders through which a new trader can earn money and learn trading. Normally in Copy Trading a trader can learn a lot by following an experienced trader. Copy trading provides a good opportunity to know how and when a trader should take trades and what his expectations should be. But trading must take risks. Since a new trader trades by copying others through copy trading, if that trader makes a mistake, he will also face mistake, his loss means your loss.

You are on point but I will not agree with this opinion despite I know it has its advantages but without doubt, the disadvantages are more than its advantages. Aside that the of the person you are copying their trade is also your lose, it also makes you to become too lazy to do your own analysis. I mean when you are addicted to copy trade, you'll become too comfortable with it and solely rely on it to trade and when you don't have someone to copy again, your trading career comes to an end. Of course, copy trade can help you to compare and come up with more reliable analysis but I advise one to learn and focus on making trade on their own without being reliant on someone.

Yeah that's the point, what if the person you are copying decides not to continue, what will happen to you? things will not be the same and chances that you will also end your career or you'll risk another trader and try to copy again, but the knowledge that you supposedly learn will be nowhere to be found.

Though we really can't push someone to whatever desire they've got in mind, it's their money and it's their obligation to protect.

[Assface16678]

It is a very effective method for traders through which a new trader can earn money and learn trading. Normally in Copy Trading a trader can learn a lot by following an experienced trader. Copy trading provides a good opportunity to know how and when a trader should take trades and what his expectations should be. But trading must take risks. Since a new trader trades by copying others through copy trading, if that trader makes a mistake, he will also face mistake, his loss means your loss.

You are on point but I will not agree with this opinion despite I know it has its advantages but without doubt, the disadvantages are more than its advantages. Aside that the of the person you are copying their trade is also your lose, it also makes you to become too lazy to do your own analysis. I mean when you are addicted to copy trade, you'll become too comfortable with it and solely rely on it to trade and when you don't have someone to copy again, your trading career comes to an end. Of course, copy trade can help you to compare and come up with more reliable analysis but I advise one to learn and focus on making trade on their own without being reliant on someone.

Yeah that's the point, what if the person you are copying decides not to continue, what will happen to you? things will not be the same and chances that you will also end your career or you'll risk another trader and try to copy again, but the knowledge that you supposedly learn will be nowhere to be found.

Though we really can't push someone to whatever desire they've got in mind, it's their money and it's their obligation to protect.

Well from the sounds of it the OP is an experienced trader or maybe know how to trade and can earn, what he meant is an another option for him to follow like trading signals or trading groups that could give him an idea or analysis in trading so he doesn't need to always think and over exert his self, admit it trading on your own in exhausting, even if trading on your own accord and earning from it is good or rewarding but we can't ignore that it is also exhausting, not just for our body but for our minds, so sometimes we need to rely on something to have time to rest our minds to think straight, that's when the trading signals and analysis comes help, we can only use those as guide and reference not for us to fully rely on it, in short it's not bad to see trading signals what's bad is fully relying on it.

[retreat]

For me personally, I am more comfortable trading on my own, the reason is because by trading alone I can do my own fundamental and technical analysis and determine my own trading decisions, whether I want to enter the market or not, all control is with me. And when there is a loss or profit, I can learn from that experience and build my own portfolio.
Yeah for some people they are more comfortable doing social trading or using signals, because they can trade by just copying other people's analysis/trading which is easier than doing their own analysis, but the risk is that all trading decisions rest with other people.

[bayu7adi]

What options does one have to view trading ideas/signals from other professional traders?

As long as someone isn't confident in their trading skills, using trading signals from others isn't a bad option. We can all evaluate the reasons and ideas behind the signal provider as additional material to hone our trading skills. Starting with copy trading isn't a bad idea initially, as long as we continuously modify the way from others to fit our trading profile.

Even if you're just doing copy trading, it adds to your experience and flight hours in the trading world. So, in my opinion, there's nothing wrong with subscribing to signals, as long as we don't blindly copy without making modifications or evaluations based on what we believe.

[Inwestour]

As long as someone isn't confident in their trading skills, using trading signals from others isn't a bad option. We can all evaluate the reasons and ideas behind the signal provider as additional material to hone our trading skills. Starting with copy trading isn't a bad idea initially, as long as we continuously modify the way from others to fit our trading profile.

Even if you're just doing copy trading, it adds to your experience and flight hours in the trading world. So, in my opinion, there's nothing wrong with subscribing to signals, as long as we don't blindly copy without making modifications or evaluations based on what we believe.

If you don't have enough trading knowledge to determine how good a trade is, how will you determine which trader to copy from? I’m not sure that copy trading is good at any stage of your learning to trade, I would evaluate it not as an opportunity to earn something while you are learning, but as a danger of losing your trading deposit until you have the necessary knowledge for independent trading.

[EarnOnVictor]

I think that by trading on my own I am just overtrading...I am looking for options to get trading ideas/trading signals etc to analyze those ideas and select only the best ones.
What options does one have to view trading ideas/signals from other professional traders?

Trading on your own would prevent unnecessary distractions from trading signals, firstly you devise your trading strategy obtained from any source mostly from YouTube practice it with demo or stimulated trading until you become consistent in making profit, personally I only visit twitter to learn from professional traders to learn and follow their chart analysis and how I can improve it on my own trading strategy if possible make some amendment if necessary, however it's not about changing the strategy everytime if in losses are incurred thus I am trading on my own I knew isn't is a smooth journey without a mentor however I believe with time I would gain more experience towards becoming a professional traders.

Every approach to trading is good and there are traders out there who are using any of them to their advantage, it's all about the information you get and the source at which you derive your trading resources. I must say that it's a gradual process, not something one could decide at once. Fine, the vision might be to be self-sufficient in trading and be totally independent, but at first, if you must make money, you must follow the guides, signals and mentorship of some expert traders. But if you do not mind waiting for years before you can make money in the market, why not? You can avoid using any signal provider and advice, you will continue to learn and train until you eventually get to your promised land.

However, it's not a curse, most traders will "never" get to this promised land in trading, this is regardless of how they try/prepare, trading is risky and tricky at the same time, and it takes wisdom to overcome. For this, trading is not for everybody and never will it be, but for those who can really get there, if you are privileged to use their signals and advice, then you can't still miss out Entirely.

And frankly, when I was reading what you wrote, you were writing it as if it's that easy, but in practice, trading is not that easy, or you are consistently earning now? I asked the question because you will hardly see a trader who is consistently earning yet all are giving advice. All the various statistical sources point towards the same fact that it's not easy as well. This, I know from experience even as I'm now a consistent winner, most will never get there, it's a fact. Therefore, if a trader is lucky enough to locate an external source of good analysis, signal/service provider or daily technical advice, I urge the person to go for it. Such might be doing this and be learning alongside as well, it doesn't matter.

Trading is not easy at all and most traders will never be successful in it.

[gunhell16]

Almost the majority of the answers given by those who gave their respective opinions on this topic are that we ourselves are doing trading to get a profit. Of course, knowledge is still needed, not just the idea.

It's difficult in copy trading because if you copy from the beginning, it's wrong, and you'll lose right away. Also, what I know about copy trading is that it still has pros and cons, and that's what newbies who enter or try it should also know.

[shawonngp]

I'm trading on my researched because now i'm not a newbie traders, so i don't like to follow signal or copy trading, i don't need to depend on paid signals but i'm following some expert traders opinion to increase my trading knowledge then i think if it's good strategy then i try to follow.

[Mahanton]

It is a very effective method for traders through which a new trader can earn money and learn trading. Normally in Copy Trading a trader can learn a lot by following an experienced trader. Copy trading provides a good opportunity to know how and when a trader should take trades and what his expectations should be. But trading must take risks. Since a new trader trades by copying others through copy trading, if that trader makes a mistake, he will also face mistake, his loss means your loss.

You are on point but I will not agree with this opinion despite I know it has its advantages but without doubt, the disadvantages are more than its advantages. Aside that the of the person you are copying their trade is also your lose, it also makes you to become too lazy to do your own analysis. I mean when you are addicted to copy trade, you'll become too comfortable with it and solely rely on it to trade and when you don't have someone to copy again, your trading career comes to an end. Of course, copy trade can help you to compare and come up with more reliable analysis but I advise one to learn and focus on making trade on their own without being reliant on someone.

Yeah that's the point, what if the person you are copying decides not to continue, what will happen to you? things will not be the same and chances that you will also end your career or you'll risk another trader and try to copy again, but the knowledge that you supposedly learn will be nowhere to be found.

Though we really can't push someone to whatever desire they've got in mind, it's their money and it's their obligation to protect.

Well from the sounds of it the OP is an experienced trader or maybe know how to trade and can earn, what he meant is an another option for him to follow like trading signals or trading groups that could give him an idea or analysis in trading so he doesn't need to always think and over exert his self, admit it trading on your own in exhausting, even if trading on your own accord and earning from it is good or rewarding but we can't ignore that it is also exhausting, not just for our body but for our minds, so sometimes we need to rely on something to have time to rest our minds to think straight, that's when the trading signals and analysis comes help, we can only use those as guide and reference not for us to fully rely on it, in short it's not bad to see trading signals what's bad is fully relying on it.

You are the ones who could really be able to find out if we do speak about trading related things whether you are opting for following someone or paying up on some paid groups or would really be just going solo.
It would really be entirely be depending on you because if we do speak about choices then you are the ones would be assessing each thing whether it works on your part of not because if you do ask someone
on which one is worth then they would be basing up with their own experience. Also, you wont really be stopping yourself on testing it out if you are really that interested when it comes to social trading or copy trading.
It is really normal specially when we are still a newbie on which something like this would coming up into our mind.

Honestly speaking, there's nothing to be better if we do speak about trading in our own.Why? It is really something that worth on engaging into trading on your own
since you could really be able to enhance up yourself when it comes to trading skills.

[FanEagle]

I would rather trade with what I know, and not really trust others, that really doesn't change it much, and it makes it quite profitable to keep it going like that. I understand that it's hard to see all those people with amazing returns and you want to be part of it, but there is no guarantee of that for me, I just don't buy it.

All those people who promise great returns look like scammers to me, because if I personally made a lot of money, I wouldn't publicly try to make a few bucks from others as well, I would just make my own money, if it's free and they do not charge you anything or they do not benefit at all, then I could sort of understand, but I bet that they have a benefit from it, even if not money then something else, and I rather stay away from them. This is why it's quite crucial to learn how to trade yourself, you cut the cord early on and you focus on what you could do personally, and that will always end up with something that will benefit you.

[New Money]

Trading on your own is great if you've got the skills and time. You're in full control, making your own calls based on your research and instincts. The upside? All the profits are yours, and you get a real hands-on understanding of the market. But the catch is it's time-consuming, and the learning curve can be steep. Plus, the responsibility is all on you, so you've got to be ready to handle the stress, especially when the market gets wild.

Now, about social trading and copy trading – these are awesome if you're still figuring things out or if you're strapped for time. Find the best social trading platform, and the big pro here is you can learn from experienced traders. You see what they're doing, understand their strategies, and even mirror their trades. It's like having a mentor guiding you along.

But here's the thing: you've got to be super careful about who you're following. There are legit pros out there, but also scammers looking to make a quick buck. So, do your homework, check their track records, and don’t just follow anyone blindly.

Social trading has the added benefit of community support. You're not just copying trades; you're part of a group sharing insights, which can be super helpful. The downside? You can get swayed by the crowd's opinion, which isn't always right.

Copy trading is more hands-off. You pick a trader, set your parameters, and let the system do its thing. It saves time, but you're also relying heavily on someone else's decisions. If they win, you win, but if they lose, so do you.

[Webetcoins]

Just like everyone mentioned, trading your own is a lot better than all of this. The idea that you could make your own money without the helps of anyone else is important because it will give you a way to get better forever. The good old "do not give a man fish, teach him how to fish" part is the most important part. If you end up teaching him how to fish then he will just be able to do it better. In this case, nobody will teach you how to fish, so you have to go out and learn it on your own.

Spending time on becoming better is a difficult one, many people are missing that and it should be important to keep trying no matter how long it takes in order to become a good trader yourself, it may take months, even years, but you should keep trying.

[cute nmp]

Personally I prefer to trade on my own than joining any social trading group or copying others trade .I have lost lots of money paying for those types of groups .I now trade on my own using the small knowledge I have of trading . Better to be patient and wait for my set-ups  cause with time i can become a profitable trader

[batang_bitcoin]

Personally I prefer to trade on my own than joining any social trading group or copying others trade .I have lost lots of money paying for those types of groups .I now trade on my own using the small knowledge I have of trading . B

Copy trading for me is fine and I'd still choose to trade on my own. I know myself and there will be more times that I'd fail myself and lose my trades but that's feeling better than relying on someone's signal and social with them and in the end, after following their confident advises and trades, you'd still lose.

Better to be patient and wait for my set-ups  cause with time i can become a profitable trader

This is what trading is all about, being patient and how you'd overcome the market by becoming profitable and that means you're a good trader.

[Patrol69]

One should always give more importance to one's own competence in trading. Relying on others or directly copying other traders never gives good results. Everyone has their own strategy in trading and every trader has to apply that strategy in trading. I am trading I have my own strategy, the strategy I am successful in now may not be successful in the same strategy. If in the beginning a trader is not getting much success in trading then I would say that the trader should try harder and develop his own trading skills so that the trader does not have to depend directly on someone else later on. If you trade by following others, you will never learn anything by yourself, it is very important to know about your own trading, so you should always trust yourself.

[RockBell]

For me personally, I am more comfortable trading on my own, the reason is because by trading alone I can do my own fundamental and technical analysis and determine my own trading decisions, whether I want to enter the market or not, all control is with me. And when there is a loss or profit, I can learn from that experience and build my own portfolio.
Yeah for some people they are more comfortable doing social trading or using signals, because they can trade by just copying other people's analysis/trading which is easier than doing their own analysis, but the risk is that all trading decisions rest with other people.

Trading on you own is better than picking signals from group and from people because when you get addicted to always getting signals to me you are not a trader. It is better to learn then. You can easily experiment what ever you have learnt. And whe. You fail you can even learn from your mistakes. What is the essence of trading and you don't even know how to do tech technical analysis. And having full control of how you run the market will be better, the most important thing is that you are in charge. I can learn continuously from other people's trade. And a lot of people pay heavily just because they want to get signals, only lazy people will not want to learn. And that is why they are always massive loss, just because people have failed to learn.

[milewilda]

For me personally, I am more comfortable trading on my own, the reason is because by trading alone I can do my own fundamental and technical analysis and determine my own trading decisions, whether I want to enter the market or not, all control is with me. And when there is a loss or profit, I can learn from that experience and build my own portfolio.
Yeah for some people they are more comfortable doing social trading or using signals, because they can trade by just copying other people's analysis/trading which is easier than doing their own analysis, but the risk is that all trading decisions rest with other people.

Trading on you own is better than picking signals from group and from people because when you get addicted to always getting signals to me you are not a trader. It is better to learn then. You can easily experiment what ever you have learnt. And whe. You fail you can even learn from your mistakes. What is the essence of trading and you don't even know how to do tech technical analysis. And having full control of how you run the market will be better, the most important thing is that you are in charge. I can learn continuously from other people's trade. And a lot of people pay heavily just because they want to get signals, only lazy people will not want to learn. And that is why they are always massive loss, just because people have failed to learn.

When you are just starting or shall we say a complete noob then having those kind of following or checking out someones trades arent that a bad idea either. It is really just that there are ones who are really that relying on it for the rest of their lives on the time that they do trade without even having those plans on trying out to make on their own. Whereas, there would really be those individuals who would really be
be making on their own trading ways and methods on how they would really be able to sustain this unpredictable and random market on which technicals and fundamentals doesnt really work all the time.
This is why it would really be that best that you should really be trying out to make on your own so that whenever those sources or people around is gone then you could be able to survive on your own.

It is really a matter of choice on which path you would really be taking. Some do see that copy trading is convenient.Yes, it is but its not something that could
really improve out your skills on doing trading because you arent the ones who do make out such analysis which it is really that from others.
On the time that they would be gone, then what you would gonna do?

[kingvirtus09]

I think that by trading on my own I am just overtrading...I am looking for options to get trading ideas/trading signals etc to analyze those ideas and select only the best ones.
What options does one have to view trading ideas/signals from other professional traders?

   You know that it is still different for us to learn the technique ourselves to discover the correct understanding of trading in the field of crypto business. because when we get and apply trading on our own correctly, it will be easier for us to understand the practice or entry into copy trading.

   It's also not good that we just enter these categories without knowing anything because there are high chances that our capital will burn in them. It is unlike us to conduct our own discreet trading that can tell if the result will always be organic in the end.