Topic: Binance Founder CZ said that, Copy trading now live on Binance. (Read 606 times)

If you have a good trader giving you signals of price expansion then you wouldn't be completely saying this. Its just a means to get small funds online. 
Daily,  with the right price signals,  you can make 91$ 60$ and also 34$.
Some traders specialise on it and then make daily living from copy trading. It is no means to grow wealth. Knowledge is indeed power,  with the right information and risks management this can be learnt and achieved.

Yes, that's right, but you have to be careful not to get Haram up in the shit again. I will never become a Muslim. But I agree with you, because for those who do not understand at all, copy trading is okay, but for those who have some experience, it is better not to trade copies, because experienced and unexperienced people are more likely to lose if they copy their trades. I told you I don't like copy trading.

copy trading is not a feature for those who want to gain experience or improve their trading skills. I have done copy trading on other exchanges, it just requires how you look for traders who have good skills. and you can follow the trades. Usually, several communities on Telegram or streamers create their accounts on the exchange so that members who follow them can copy the trades they make.
actually, it's not all bad. there are benefits for certain people. but maybe for those who don't like it, you can of course avoid copy trading.

I don't like copy trading. Copy trading is more likely to be a loss because the person you are copying may not be experienced. You don't even know if you're going to sell your copy or not. You must seek the fate of others. If you want to trade, trade your own experience. You will never be able to increase your experience by copying others trades.

As much as others would see this as good news ,I honestly don't like it because it will make newbie traders lazy in the long run and not accord others the opportunity to learn the art of trading on their own!!!

Unless this is meant to benefit Binance by way of commissions or more users using this feature and joining the exchange , whatever the case this works in their favour.

Interesting, is it possible that this was a case of middleman wanting more/better commissions or the intergration of TraderWagon simply just failed to work and moved to a more reliable option.

Now your comments are rare, because they reflect an actual trader with real experiences!!

I'm actually very inexperienced trading crypto but I spent years doing forex 10 years before I even started a CEX for crypto but nothing changed. The tactics of signals, the paid strategies, the "new" features are not new. Everything I saw in forex is as you said:
- newbie accounts filling up reputation.
- selective trades without showing volume or amount fill up "win" percentage
- additionally in crypto, fake token pairs trading between themselves

I got burnt badly before, so people think I'm just a negative guy in trading but if even one newbie pays attention and doesn't buy into these scams, I'm glad

Relying on one's own abilities is the best, I like that. When many people only focus on finding the best User Copy Trade, they forget how to trade well, learn technical and fundamental analysis and train their emotions.
it is no longer done when they are interested in copytrade and do not have enough knowledge to trade. When copy trading fails, no one will be held responsible, it is a risk caused by other people, not yourself. will regret it in the end.

Although I am no stranger when it comes to copy trading, it seems I could finally give this a shot with Binance. I've done copy trading before in BitYard and Prime XBT respectively. But I just stopped because the profit that I've been getting isn't that much really.

Some of my favorite pro traders that I've copied back then have vanished and setting limitations on how many can copy for each pro trader in the list. I haven't done any copy trading activity since 2021, but Binance might be the reason for me to come back and try copy trading again.

Absolutely no problem, I am also happy about late feedback to my postings

---

Ah, sweet memories ... At the beginning of 2017 I had a Bitcoin savings plan where I bought 100€ Bitcoin at the beginning of each month. At the beginning of 2017 this was still very lucrative (at least in my opinion back then). Then in May I stopped the savings plan (BTC was around $2000 at the time) because I just couldn't live with the fact that I could buy less than 0.1 BTC with my 100 €. That's how you can be deceived.

But I see it the same way as you do: A very good trader shows his strengths especially in a bear market. To shine in a bull with xxx% profits is absolutely no achievement and can be achieved by every Hodler when he bets on the right altcoins, in the last bull for example SOL, AVAX or Cardano (ADA). Through clever trades (I also count one-time sales) you could actually manage to keep your btc stock from 2021 until today ... I unfortunately didnt, but this is mainly due to my altcoins in the portfolio and less because of failed trades (ok, at least a bit ).

Thanks for the whole guide on where to find it but in my app, even if it is updated to the latest version there is no tab for copy trading.
My country is not listed there so copy trading is not yet available in my region.
They said they are planning to add more countries but I don't know when they gonna add my country.

I seriously need to check my bookmarks more often


2017 was the year in which if you had bought in January and sold in December you would have gained 13x just by holding.
I would be more interested in somebody who made money in $ term in a period like 2022, including his holdings, I always said that a true trader is one that manages during a bear market to keep all his assets at least to the same value. So if you have made 2BTC in that period but your total asset worth has dropped day half, from 10BTC worth 400k you now have 12BTC worth 240k then you're not a good trader at all.


I expect manipulation to be on a rampage there too.
Accounts filling themselves half with newbies' accounts to gain trust, playing with highly manipulated shady tokens to get the tempting % return only to out of the blue screw all the user base by dumping some pair into the groud or pumping some low-value token at the right time to close some position on a different exchange.
10 accounts filling 1/3 of their limit would mean 1000 accounts, trick them into playing ~1000 and you can at the right time with the right average make x10 times more.

Of course, it takes time, it takes money, it takes knowledge but just wait!

Now leaving the manipulation and scamming aside, what's the protection in case your trader has a nervous breakdown cause his girlfriend left him and he, full of anger says screw that and opens intentionally some money-losing pairs and positions?


So drug dealers, just saying !

Nice information you got there mate. I didn't new that size of the capital matters too when it comes to copy trading. I don't know if this is also possible but I'm thinking that the trader that we follow can intentionally make a bad trade for the people who depend on their backs lose. There may be a benefit for doing this. It's some kind of a manipulation.

I guess these reasons are now enough to scare someone of doing copy trades. It is still better if we can only depend on our own ability. Other than being safe from a lot of risks, we can also be proud our selves no matter what the results are but especially if the results are positive, because we are getting close to mastering trading.

I bet many traders that will start sharing of their trading activity on Binance, will be bots and prioritize BNB coin. Implementing of copy-trading on Binance is a smart choice to benefit the liquidity provider with increased profit because I genuinely believe, top traders will trade on Futures with significantly high leverage and over time, many copy-traders will get liquidated. Seems, eToro advertisements have done a great job to promote copy trading and right now Binance will hire these Tiktokers that will bring a lot of copy-trading customers to their platform. Isn't it a good idea to become a liquidity provider on Binance?

I have to admit that CZ is a very smart individual, he knows what likes people, he knows their psychology, he knows how to make money, he knows what he does!

Very nice analysis, we must remember that an exchange is at its core just like any business and its owners would like for their clients to spend more money and to do so as fast as possible.

Copy trading gives those that decide to use it a false sense of security, so they will be willing to take a higher level of risk and it could encourage people that may have never traded to do so through this feature, increasing the profits of the exchange in the process.

My personal opinion here is relatively simple:

• A large part of the advertised copy traders are bots that are actually provided by the platform (i.e. Binance, for example) and simply serve to get clients to invest more.
• You won't find professional traders there, they earn much more with their quotes, Youtube channels and so on
• So if "real people" can be found in Copy Trading, they are usually lucky people who were able to make high profits with a x100 leverage. But we all know that this has more to do with gambling than with professional trading

Conclusion: Copy Trading is a great entertainment for in between, but you should never see this as a serious investment strategy.

But at the same time I am not sure if copy trading is at all suitable to manipulate the market. This would be much easier with an armade of bots that Binance releases directly. [/list]

Copy trade strategies can work for a while but the market is not static by dynamic and can change its momentum, direction quickly. Users of copy trade strategies don't use their own knowledge and skills to do their trades and mostly rely on copy trade strategies to automate their trades. As consequences of such terrible dependence, they will not be able to detect signals of upcoming market turnovers so they will continue to let the Copy Trade script to do trading works for them.

Without ability to smell risk in the market, without discipline to exit the market and change from trading mode to watching mode, they will lose money with Copy Trade Scripts.

You brought an excellent point. I consider Copy Trade Scripts is like one type of market manipulation but I don't consider it as a worst you will get from those scripts. Using them and being more and more dependent in your thinking and action is more terrible, the worst.

I am afraid. While this could be a good feature to make money money beginners and for the pro traders as well, this might be a trap for everyone. You never know whose trading pattern you are copying. You never know if that trader was hired by the platform. This copy trading enables a great way to manipulate that market. You may ask why so negative. Well, there are both sides. Some traders may get some profit, and others may lose.

Just Imagine you have copied a trader who made some big profit earlier and decided to trade again. But luck wasn't with him and his balance was liquidated and you lost everything with him. Who is to blame actually?

its basically just following the path of veteran trader, but even that is such a massive game changer if the veteran trader that we are following are really a veteran trader that we imagined, basically having good amount of experience their decision would be accurate, in change for giving some share of profit, so long we are keep getting profit from each trades that already good enough.
but in reality we might copy trading of other so called veteran trader that aren't really good at doing their job.
therefore we might instead incur loss, its all about finding the right trader to follow I guess.
after all not all veteran trader out there are really adept and what they're doing.

This is a new feature for loyal customers of Binance and trading junkies. I just went through my binance app and discover that they're running a couple of promotions for copy trading. One of the advantages of copy trading and start it is almost like having a signal group but even way better. You still need to get educated on how it works.

Updating the app is a must to unlock the new feature, and this one is working good on my end.
The target also is to look for a more successful trader and see how they made such profit in trading, this kind of feature is a game changer for every trader who are looking for this kind of option. Does anyone here tried and succeed already with a good profit? Do you still analyze or you fully depend on their strategy?