Can copy trading be profitable | Bitcointalksearch.org

noormcs5

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Quote from: xSkylarx on May 19, 2023, 06:36:43 AM

I haven't tried copy trading, but that is possible, but it is not stable. You can earn that amount on this day, but tomorrow you lose the same amount. Also, the trader you'll copy should have a good track record. Still, I don't recommend copy trading because you don't have control over trades; you only have control over your funds, and you also don't know why the trades took place. It is better to do it your own way because we don't know when traders in the future will be gone.

Copy trading is not easy as it seems because you have to manage the portfolio yourself. You can only copy the trades but how much to invest in each trade is your own call.

Although copy trading feature is introduced by few of the exchanges but I will still recommend that we should learn to trade ourself and not depend on other people trades.

Previously people used to follow the signals and now those signal providers are providing the copy trades services. Anyways it is my opinion to learn and trade yourself and not become a copy trador.

Mr.right85

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Quote from: Heyui67 on May 14, 2023, 06:05:19 AM

Is copy trading worth it

Can I make 20$ per day if I have 2000$

Maybe for those who use this for a strategy as I don't and so, I cat say but, I can't find it to be productive or lucrative as it would be when you've hot your own thing going.
Making mistakes and taking corrections for every mistakes made.

When copy trading, you depend completely on the signallers insight and chat realise when there is a mistake and take proper steps to mitigate adversity. It's just going to hit you and you can't spot what went wrong because you don't no nothing of why your in the trade or position your in.

It's just a confused way to follow.

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Quote from: Russlenat on May 19, 2023, 04:59:28 PM

Quote from: Heyui67 on May 14, 2023, 06:05:19 AM

Is copy trading worth it

Can I make 20$ per day if I have 2000$

Yes, it’s worth the money.
~snip~

^Definitely right.
Having access to reliable sources and a community of knowledgeable individuals can increase the chances of making profits through copy trading. But keep in mind that as a day trader, it is possible to achieve $20 in profit per day by studying the market and understanding how trading works at your own pace. That is very risky to have a solid understanding of the market dynamics and develop your trading skills.
While aiming for consistent profits is desirable, it is important to manage expectations and avoid relying solely on daily profit targets. The market can be volatile, and it is very risky to commit to trading responsibly to avoid being liquidated. Starting with decent capital is advantageous, but it is important to focus on building your skills and knowledge rather than expecting high returns every day. Consistency and long-term investment are key to sustainable success in trading.

Russlenat

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Quote from: Heyui67 on May 14, 2023, 06:05:19 AM

Is copy trading worth it

Can I make 20$ per day if I have 2000$

Yes, it’s worth the money provided that you copy trade from a professional trader. Because if they can be consistent in their profits, you will also experience the same. However, if you don’t care to improve your craft because you became dependent to others, then how would you be sustainable in trading if you start trading using your own expertise? I think that will be very impossible if you keep on relying to other trades. Trading is not an avenue to be dependent from others, but it’s an avenue where you can improve your knowledge and hone your skills and expertise based from your own experiences, and not from other traders losses and mistakes.

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Quote from: entebah on May 14, 2023, 06:14:56 AM

I believe it depends on which trading account that you want to copy and do your research first for the people that you want to copy their trading.
Btw which website that you use for copy trading?

Of course, you shouldn’t be easily copy trading if you are not seeing that trader is making an exceptional amount of profits. But unfortunately, if you continue to copy trade, you are not growing on your own as a trader. Relying to other trades is not advisable because if they lose their trades, you will also end up losing your trades too. And worst is, if they have stopped trading for good, then how would you continue trading when you didn’t even care to learn trading on your own.

Captain Corporate

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As everyone else said, it depends on who you copy. Most of the time copy trading is just following someone else and it is true that there are other people who are good at trading, not like everyone can be terrible at it, so that means there must be at least a few people who are good at what they do. However, I also believe that you need to be very careful with who you are copying because there are thousands of them out there and some of them are terrible. Just because one person makes a good profit for the last 30 days, doesn't mean they will do that for the next 30 days neither, so you need to look at a greater sample size and how they did even on bad markets. If you can find someone better than others, then testing it out with a small amount of money could be a decent idea.

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Quote from: Heyui67 on May 14, 2023, 06:05:19 AM

Is copy trading worth it

Can I make 20$ per day if I have 2000$

There’s a chance to make profit from this only if you have a reliable source or a group of people who shares the right knowledge, but then again $20 profit everyday for a day trader can be easily achieve on your own, you just need to study the market and how trading works on your own timeline. You have a pretty good capital to start with and you are just aiming for less everyday, its possible but make sure to not expect that much everyday, you must commit to this to avoid being liquidated.

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Quote from: Heyui67 on May 14, 2023, 06:05:19 AM

Is copy trading worth it

Can I make 20$ per day if I have 2000$

Yes, it can be profitable as long as you copy trade from a successful trader. But never expect that you can be making consistent profits out from copy trading. Though it’s really possible that you can make $20 but not in a daily basis seeing you can’t be profitable everyday because of the high changing market condition. There are times that even if you trade with high expertise and skills, once the market is not suitable to trade, then your trades will always end up as a loss since the market does not favor your trades.

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Quote from: Dr.Osh on May 19, 2023, 04:51:13 AM

if you target it monthly, like making $600 a month with $2000, then it's possible. in fact, some cases I get that they can make more than $ 1k or $ 2k when they are really good at doing analysis and speculation. However, it all depends on how skilled you are in trading. There is also a risk of getting a loss, but I suggest not targeting daily income, but monthly. targets like that will be easier to manage than every day. it will confuse you later.

When you are a good trader and understand the market very well, and you choose to copy trade, then you are going to make a good profits from the market because you clearly understand how the market works. This will enhance you to add some little strategy into what you are doing to make a bigger profits.There are people that are in the market trading every single day and always make good profits before leaving the market. If you know how to do something very well and you seek more help from people around you, then you are liable to make money profits by taking a look at how they do there thing and there working strategies.

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Quote from: Heyui67 on May 14, 2023, 06:05:19 AM

Is copy trading worth it

Can I make 20$ per day if I have 2000$

Nothing is impossible in the world. You can surely make 20$ per day, if you have that determination and courage to do it. It doesn’t matter what type of trading you do. You need to remember that the amount of profit you want to make, will come only in your pocket, if you are willing to take equivalent amount of risk for that profit. Copy trading is good, when you have good source to copy the signals. But if you choose a wrong trader then definitely no one can save you from getting into losses.

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Quote from: Heyui67 on May 14, 2023, 06:05:19 AM

Is copy trading worth it

Can I make 20$ per day if I have 2000$

If you are thinking of making your daily income by trading then it might be great. Because if you have $2k and trade with it, you will get more that $20 profit every day. But if you want to make profit in your trading day to day then you must adopt some strategies which are the right way to trade. Since you have made a decision that you will earn $20 per day by trading, you need to acquire a good knowledge of the market properly. And if you don't have a good analysis of the market, you will have a very risky and future crowding potential for your path. So you need to acquire enough knowledge and skills but you will be able to profit from $2000 to $20.

Tony116

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Quote from: jeraldskie11 on May 19, 2023, 06:46:13 AM

Quote from: Tony116 on May 18, 2023, 06:06:35 AM

Quote from: jeraldskie11 on May 16, 2023, 05:24:25 PM

Quote from: ?? on ??

Definitely can, but the question is different - how zholgo? If this strategy was profitable now, will it be so later? There is no definite answer, and it is important to understand that copying may not answer this question.

If they believe their strategy is not functioning well, they will improve it to raise their chances of winning. Master traders don't want to lose because they use their own money, therefore you won't have to worry about them losing your money. They are working hard to make their trades successful. However, it is very different if you trade your own money, but if you don't have the time to do so, copy trading is the greatest alternative for me. Just be certain that the trader you select was really profitable.

The reason there is copy trading is also because many people do not know how to trade but want to make money from it, it can be said that it is human needs that have created the concept of copying trading. Theoretically, that could also be considered a solution, but I want to ask, can you find a trader who consistently makes profits without losing? And have you seen anyone succeed with copy trading?

Honestly, once we want to succeed, we should rely on ourselves because there is no such thing as success when we depend on someone. Especially with an unpredictable market like cryptocurrencies.

It's easy to spot a trader if he is really consistent in winning. You can see it just by looking at their winrate and their number of trades. If they have a 100 trades with 70% winrate, you can still say that they are consistent and profitable in trading because in every 10 trades they win 7 trades. Yes, I have seen someone before who's really profitable in copytrading because he provided us a proof but I don't think if he's still profitable today.

I agree, we don't rely our success to others but we can make them our motivation to succeed.

If it's that simple, I mean if everyone uses the way you say it. All will choose the trader with the highest win rate to copy. So no one will lose money in the market? I have never tried copy trading because I believe that making money is never so easy, the easier money is to earn, the higher the risk. Another thing is, do you agree with me that the people who are really good at making money from trading they will never show up or flaunt to create big attention? Most will keep quiet and focus on expertise because making money with them is quite easy, they won't need commission from sharing to everyone. Like the people who create the group of trading signals, most of them are scammers who take other people's money because they don't make their own profits.

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Money is no factor when it comes to trading profitably. It is possible to profit from trading if you know the right method and rules of trading. Trading is directly related to money ie our money is involved so before deciding to trade you must first confirm how much you know about trading. If you have a specific idea about trading, if you cannot observe the target properly, then it is better not to risk your money by trading with money. So before deciding money in trading first get enough understanding about trading and try to know when you can get enough understanding about trading then investing $2000 and earning $20 will not be difficult for you.

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Quote from: Heyui67 on May 14, 2023, 06:05:19 AM

Is copy trading worth it

Can I make 20$ per day if I have 2000$

I'm afraid not.

Copy trading is all about copying traders who does have high percentage of winning, meaning, their trade might not match your $2000 fund, and your $2000 could be gone instantly if their liquidation price is much lower or higher than yours, depending on what kind of trade they are going for. It's much better if you're gonna trade on your own, it's profitable in the long run if you're really willing to learn trading without crumbling because your emotions say so.

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Quote from: xSkylarx on May 19, 2023, 06:36:43 AM

I haven't tried copy trading, but that is possible, but it is not stable. You can earn that amount on this day, but tomorrow you lose the same amount. Also, the trader you'll copy should have a good track record. Still, I don't recommend copy trading because you don't have control over trades; you only have control over your funds, and you also don't know why the trades took place. It is better to do it your own way because we don't know when traders in the future will be gone.

Just like any trading strategy, copy trading never works perfectly or something to say it was really efficient in earning a profit. Because the market is absolutely unpredictable and also it depends on the trader.
I have tried copy trading in the past but later on, I quit and make my one strategy because I was not really comfortable always relying on others when we can do it the same or even better. Well, I would say copy trading is good for newbies but I won't suggest just staying there otherwise, our success is limited.

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Quote from: Tony116 on May 18, 2023, 06:06:35 AM

Quote from: jeraldskie11 on May 16, 2023, 05:24:25 PM

Quote from: ?? on ??

Definitely can, but the question is different - how zholgo? If this strategy was profitable now, will it be so later? There is no definite answer, and it is important to understand that copying may not answer this question.

If they believe their strategy is not functioning well, they will improve it to raise their chances of winning. Master traders don't want to lose because they use their own money, therefore you won't have to worry about them losing your money. They are working hard to make their trades successful. However, it is very different if you trade your own money, but if you don't have the time to do so, copy trading is the greatest alternative for me. Just be certain that the trader you select was really profitable.

The reason there is copy trading is also because many people do not know how to trade but want to make money from it, it can be said that it is human needs that have created the concept of copying trading. Theoretically, that could also be considered a solution, but I want to ask, can you find a trader who consistently makes profits without losing? And have you seen anyone succeed with copy trading?

Honestly, once we want to succeed, we should rely on ourselves because there is no such thing as success when we depend on someone. Especially with an unpredictable market like cryptocurrencies.

It's easy to spot a trader if he is really consistent in winning. You can see it just by looking at their winrate and their number of trades. If they have a 100 trades with 70% winrate, you can still say that they are consistent and profitable in trading because in every 10 trades they win 7 trades. Yes, I have seen someone before who's really profitable in copytrading because he provided us a proof but I don't think if he's still profitable today.

I agree, we don't rely our success to others but we can make them our motivation to succeed.

xSkylarx

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I haven't tried copy trading, but that is possible, but it is not stable. You can earn that amount on this day, but tomorrow you lose the same amount. Also, the trader you'll copy should have a good track record. Still, I don't recommend copy trading because you don't have control over trades; you only have control over your funds, and you also don't know why the trades took place. It is better to do it your own way because we don't know when traders in the future will be gone.

Dr.Osh

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if you target it monthly, like making $600 a month with $2000, then it's possible. in fact, some cases I get that they can make more than $ 1k or $ 2k when they are really good at doing analysis and speculation. However, it all depends on how skilled you are in trading. There is also a risk of getting a loss, but I suggest not targeting daily income, but monthly. targets like that will be easier to manage than every day. it will confuse you later.

irhact

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Quote from: Heyui67 on May 14, 2023, 06:05:19 AM

Is copy trading worth it

Can I make 20$ per day if I have 2000$

Your expectations are very low so yes you can make $20 a day which is just 1% of your capital although there's no guarantee that the profits will be daily since the market volatility can make a trade that you have carefully study go against you. Meanwhile you're just following someone you don't know how good they're and only believing they'll give you profits. The profits could come for sometime but what happens when the trade begin been unprofitable.

If you have $2k capital, use some amount to learn trading yourself. It won't take you more than one or three months to become familiar with the market so you can trade on your own. When you trade personally, you give yourself more advantage as you gain experience.

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Quote from: Finestream on May 18, 2023, 03:45:16 PM

Copy trading might be somehow profitable but not for long term use. And you can really gain an income if you trade successfully but the problem is you can’t tell if you can win your trades each time you trade. The reason why copy trading should not be encouraged because being dependent to it makes you less of a trader. You cannot grown on your own and you can’t develop your own working strategies out from your losses experienced from trading. It’s good if the market behavior remains the same and you can make profits everyday, but certainly it’s not. That’s why you have to hone your trading skills so that even if the market condition got worst, you still find ways on how to make your trades profitable.

Creating your own trading strategy works better since it allows a trader to be independent and make decisions without leaning on any whale or pro trader in the market. copy trading is not what we consider to do because there are traders out there who don't have the time to settle down and trade, they're all about their daily activities and just execute copy trades to avoid knowing about the market's functioning properly. A trader will never advance if he or she does not devote time to learning the fundamentals, technicals and obtaining a thorough understanding of the volatile market.

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