Copy Trading on Moby App, hype or success?

[Alphakilo]

Never been a fan of copy trading and hasn't engaged in it before, that's not because I don't the it can be profitable but because I know that copying a successful trader doesn't guarantee same results for me. Entering the same trade doesn't necessarily mean you'll have the same outcome, the entry price, timing and the amount you're risking can still make a difference. Again, someone that's been making profits in particular period of time can still still make mad decisions. There are people who testify of how they profit from it but for me, I don't think it's wise to totally trust someone with my money without knowing how they manage risk.

This is why it's good to understand rusk management first and the basics or at least have some experience with trading before even trying to copy someone or try automation tools.
I don't really copy trade but recently engage more in swing trading at any chance I get, and that's why I had to do some research on this app to know for certainty if it's worth it at all.

In any case, it's good to keep track of the traders at the top of the board and their frequency of trading and also to loosen ones parameters or try out more active wallets before using real capital to trust a bot system completely.
It's the wise approach to follow.

[9ja Amaka]

I am just hearing about "MobyScreener" from you, if not that you are a legendary rank, I would have accused you of promoting the platform because someone can actually make inquiry about copy trading without having to mention the specific platform that they are copying the trade from. =

On what grounds can he refuse to share the platform's name? What rules is he breaking?

He never shared a random link. The link was embedded in the platform name, meaning viewers can read it or click the platform name to visit the link.
Not everything is about promotion here. As stated, he is using the platform already but want to know if others are using it as well and how they are using it to trade.

If, not for your rank, I would have accused you for false accusation 

[joniboini]

I don't really copy trade but recently engage more in swing trading at any chance I get, and that's why I had to do some research on this app to know for certainty if it's worth it at all.

By this app, you mean the copy trading OP mentioned or something else? I don't think you can replace swing trading with copy trading and hope it works out tho. If by "any chance I get" means you're looking at chart daily, I think that also means day trading as usual. If you have that skill to continuously monitor charts and make calls on your own, maybe you don't really need copy trading.

[Hypnosis00]

No need to think about whether copy trading is worth it or completely just a scam. The results speak for themselves. That is why I'd never do this thing, because I know this never works in real life. Some people are saying it works for them, so how come it won't when they are one of the members of the group? Of course, they will promote and continue spreading good words to catch attention.

But if you really have the guts to try it, then go. Curiosity finds reality, and whether you're wrong or right, at least you find what is behind those fancy words about it. I can't say I'm right, but I have doubts in mind, making me say NO.

[Dr.Bitcoin_Strange]

Even with the 100s of copy trading platforms, I can tell you that I have not seen people coming out to say that they have become incredibly profitable through copy trading. Not on this forum, not on social media and not even in real life.

Now, that's a major blow to my excitement. I thought I had found something, maybe not a holy grail but something close to it with that. However, I'm not going to grow weary just yet. I will patiently watch how it plays out. If this doesn't work out, then it will mean just one thing that all the results (their win rates are enticing) from the traders I'm copying are cooked up.

Yea, just try it out and see how it goes, only use the amount you amount you can afford to lose.

When looking at the win rate of traders, it's important to take note of the trades duration data you are looking at. What I mean is that, you will see a duration like: trades in the last 7 days, last 1 week, last 30 days, etc. Now, if you are looking at the win rate of the trader just by trades that was taken in the last 7 days, the win rate could be very high if the trader had only taken less than 5 trade and won all the trades or maybe only lost one trade. So, you should check the overall win rate for the 30 days and 100+ days.

For example, in the first week of this month, I won three trades for the three days I traded and my win rate was showing 100% but after some losing weeks later, I'm now at 61% win rate.