Can copy trading be profitable - page 3.

Baoo

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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$

To be honest, I don’t encourage traders to do copy trading, no offense but it is idiotic in my opinion. For me, I would rather work hard and run around like a headless chicken instead of getting easy money without any effort added. Regarding your trading goal OP, of course you could easily earn $20 per day due to your capital is pretty acceptable. In fact, $20 is too low comparing to $2000. You are able to make more profit but to begin with, you should acquire a knowledge of trading and become competent in this this field. Well, it may take time to be achieved but absolutely worth it. In conclusion, feed your mind with education before getting started, otherwise you will end up losing all $2000. Wish you best of luck.

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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 it's signal trading, then make sure you subscribe to one that is reputable and will not scam you. I would suggest that you apply that $2000 for funded challenge like FTMO, Fundednext, MFF and grow that capital. If you pass that challenge, investors will give you account to manage.
If it 20$ per day, It could be in terms of average, because you cannot trade every single day. It's unreasonable. Every day is not a high probability. Still, it's your money, so risk what you can only afford to lose.

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Copyright is a difficult job that requires perseverance and spends a lot of time. With minimal additions, it is possible to get income quickly if you are very efficient and ready to work.

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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$

It is really possible to earn a $20 daily with $2000 capital because it only needs 1% price increase and you can earn your ideal target. Even though $20 only need 1% to be able to get, the market is not always go to the direction your want. If the price goes against you, it's better to set a stop loss because there are some cases in the market that there is a massive dump which is your $2000 capital can be liquidated. That's why when you enter in world of trading, you need to have some expertise in the market to get that consistency of $20 a day.

bakasabo

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I think with budget of $2k, it is easier to make $20 from gambling, than doing copy trading. It is like winning few 1.01 odds after going all-in, and than focus more on placing more risky odds. Actually, those $20, which is only 1%, is quite an easy goal to achieve. I think nearly any trade of altcoin is capable to give 1% profit.

Sad story, OP posting consist mostly from "getting $ daily after doing something", and the amount he wants to earn daily always decreases. He has started from asking if it is possible to get $100 daily from gambling/trading, to $20 daily from copy trading. Seems to be an unlucky guy...

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Quote from: kryptqnick on May 14, 2023, 08:51:26 AM

I read about copy trading to understand it better and to see what research is available about it. It seems to be an okay method, but it increases the risk-taking among people because they tend to trust those whose trades they copy. But nobody can guarantee any profits, and 1% per day adds up to quite a lot per month, so I wouldn't say it's an easy and reasonable expectation. Apart from wins, there can also be losses, and consistent winning is the hard part, even if it's copying someone who is supposedly good at this. I don't think it's real, and the risk outweighs the potential benefits for me.

Copy trading is not really a bad idea as you can make your trades more profitable once you determine the right trader to copy. However, even if you copy those trades from a veteran trader, know that the market is changeable and its conditions vary most of the time, so that makes your trades not guaranteed to succeed. And I don’t think copy trading will create more advantages on a beginner trader for long term, knowing that trader will no longer have the chance to develop his own skills and strategies that may work in trading.

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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$

It seems very simple, only 1% of the profit margin is targeted per day of the capital you use in trading, but traders will not use the entire capital they have in one trade as it is done to anticipate if the market turns in direction, so they will usually only use about 20% of capital that traders deposit to the exchange. So the goal is to stay at 1% margin of profit or the amount of profit in fiat, if the target is to remain in a percentage not in the amount fiat then how much capital you use no matter only profit will obviously depend on its modality, and that you should know no routine profit you can be traded even with only 1% margin profit in crypto because the market is often unexpected, and if it is a copy trade just have to be careful enough to choose lead traders by paying attention to their trading statistics as a picture of whether he is good enough to be a leader in your copy trader.
Copy trading can be profitable that’s why the exchange holds this feature but depends heavily on your lead trades.

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Quote from: Woodie on May 15, 2023, 05:55:50 PM

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

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

All I can say is you wont get trading setups that meet your criteria on a daily basis unless you want to force trades, so no...not everyday is going to be a rainy day!

Some trading settings must be changed to follow the current market trend and the management of the use of funds to be traded also determines how much profit will be taken. But there will not be profits to be made every day.
I remember some copy trading bots that initially gave a good profit, but then when the crypto market was crashing everything became chaotic and there were even some losses in each order.

Quote from: Fivestar4everMVP on May 15, 2023, 06:03:01 PM

-snip-
So the long and short of everything is that, it's better you take out the time and train yourself, copy trading is not ideal for serious minded Persons or trades.

It would be better than just relying on the help of others or copy trading, which actually does not provide any knowledge.
It's like a lazy person who just wants to make a profit without thinking and analyzing.

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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$

Copy trading can still be profitably, but I strongly advice against it, better to learn how to trade yourself than depend solely on somebody else.
And for the record, I personally do not think it's possible to make a consistent $20 dollar profit every day on your trade through copy trading, maybe you have better chance of making such amount every day, if you are trading the market your self.

So the long and short of everything is that, it's better you take out the time and train yourself, copy trading is not ideal for serious minded Persons or trades.

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

Is copy trading worth it

Well if you have multiple accounts with different brokers, copy trading saves you the time from entering individual trades from all your accounts manually , and prevents missing of trades in volatile times ,btw other services out there allow you to copy trades from profitable traders but you will have to be some kind of subscribed member...but over copy trading is worthwhile.

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

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

All I can say is you wont get trading setups that meet your criteria on a daily basis unless you want to force trades, so no...not everyday is going to be a rainy day!

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Quote from: Sanitough on May 15, 2023, 04:45:07 PM

Quote from: posi on May 14, 2023, 06:34:32 AM

Quote from: ImThour on May 14, 2023, 06:12:32 AM

$20 of $2000 is 1 percent and you want to make it per day i.e. 30% per month which will be $600 out of $2000 in a month.
It's not impossible however the chances are less than 5% to make 30% per month or 1% per day with copy trading.

Good luck though if you find someone to get you make it happen.

Do you think we can succeed just by parasitizing others? If making money had become so easy, we wouldn't all have to work so hard just to make a few dollars a day. It sounds easy, but to be honest, I have not seen a trader regularly make more than 30% profit every month without loss.
If you want to make money from trading, it's best to learn everything yourself and be responsible for your own money. There is no guarantee that you will win when trading on your own, but at least you will gain experience and knowledge. Better to lose money by copying someone else's and learning nothing for yourself.

Trading may be a profitable source of income but know that it’s not a sustainable one. One day you may win and take profits, but the next day you will lose and used up your capital. And never expect for fixed amount of income as trading won’t do that for you. But you can always learn to avoid and reduce your losses by honing your skills and strategies in trading, and not by simply copying trading strategies from other skilled traders.

Not really that sustainable because it would really be having lots of factors which could really affect out your profitability and this is something that you should consider out or having that realistic approach.
If you are that someone who does have plans on following up someone and risking your $2000 and just earning $20 per day which is something plays about 1%/day then its not something that hard or simply
being that attainable or achievable by someone whom you do been copying on but come on mind that not all days that it would really be a profitable one, since this market is really that unpredictable.
You could potentially losing up more that $20 depending on the position that you had made out. There would be no assurance if we do speak about profitability because everything would really be
depending or basing up on the market condition and on how well a certain trader would really be going with the flow and its not something that you would really be able to predict
from time to time.

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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$

Copy trading cannot guarantee profit making. Even if you copy trades from professional traders, that won't mean that since those trading strategies work for them, then they will also work for you. Also, trading is never capable for daily profits. Though it can be a good side hustle but never expect that you will gain quick profits in trading. The ability to be profitable in trading depends on the trader itself but trading itself has its own process and depends much on the market behavior which will signify if your market trades will succeed or not.

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Quote from: posi on May 14, 2023, 06:34:32 AM

Quote from: ImThour on May 14, 2023, 06:12:32 AM

$20 of $2000 is 1 percent and you want to make it per day i.e. 30% per month which will be $600 out of $2000 in a month.
It's not impossible however the chances are less than 5% to make 30% per month or 1% per day with copy trading.

Good luck though if you find someone to get you make it happen.

Do you think we can succeed just by parasitizing others? If making money had become so easy, we wouldn't all have to work so hard just to make a few dollars a day. It sounds easy, but to be honest, I have not seen a trader regularly make more than 30% profit every month without loss.
If you want to make money from trading, it's best to learn everything yourself and be responsible for your own money. There is no guarantee that you will win when trading on your own, but at least you will gain experience and knowledge. Better to lose money by copying someone else's and learning nothing for yourself.

Trading may be a profitable source of income but know that it’s not a sustainable one. One day you may win and take profits, but the next day you will lose and used up your capital. And never expect for fixed amount of income as trading won’t do that for you. But you can always learn to avoid and reduce your losses by honing your skills and strategies in trading, and not by simply copying trading strategies from other skilled traders.

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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$

Well, that depends on the person whose trades you are going to copy because not one trader can make profits daily, sometimes the market has surprises for you that you don't like but you have to accept them. If you are following a high-class trader then it will definitely going to cost you because free traders might make you money but not daily and not 20$ per day even if you have 5 grand.

And for your first query, Yes, Copy trading is worth it, even the signals that are shared in TG groups (VIP Ones or Paid ones) also come into the category of copying trade, but that is different from copy trading on exchanges because some exchanges or third-party apps use Automatic system to make trades once you followed someone with some strategic details (or allow money in a strategic way) then you can definitely make some money which definitely worth it.

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Hahahaha, Op has $2K and he is talking abut making just 20$ out of it I would say you are a failed trader if you cant make a 5% to 10% a week with your trading strategies, on such cases, you need to upgrade your understanding with the market and learn more.

Answering the Op's Question Copy trading can be good but I think students should avoid it if you have a lot of money to spend then you can try it out because if you follow a good person who really understands the market you can make some good profits by doing nothing. Watch out it is a lot of risk because you are handing over your money to an unknown guy. I am living in Pakistan and here a crypto public figure Waqar Zaka is followed by may students they tried copy trading with him and as I said it risky more risky then you think. He took some wrong trades in the Volatile market and all of the students lost their funds he said he didn't force them and that right too but its smelled of manipulation. His clarification was too odd.

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Actually every day is not in the favor of a person sometimes you will face loss and in other time you will get profit and if you are involved in copy trading so Just focus that in trading in which you participate is really worthy or will you be able to accept such activities or not so it will be better for you to make beneficial selection.

As you are talking about 20$ per day so everyday profit is not possible may be you win regularly 3 or 4 days but on 5th day may be you loss money so its depends on market situations and if a person thinks that everyday he will gain profit but will never loss money so he is wrong and this behavior will disappointed him.

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

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

I am sure that you are more likely to lose your $2000 than to make a profit. The result of copy trading will depend not only on the correct choice of the trader whose deal will be copied, but also requires proper configuration in your account. And most often this is the reason that your balance will be liquidated very quickly.

bakasabo

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I will give an example from IRL - imagine you are first time in the gym, or have been visiting it for months, and all of sudden decide to copy training and diet program of a professional bodybuilder. Lifting same weights, eating same food. Can this method be successful? We dont know the past of those who we want to follow or copy trading strategy. Maybe they have special conditions on exchanges due to their trading volume and history. Maybe when we close trade with zero profit, they get 0.1% of profit because of fees. We dont know little about them, so blind copy trading or simple copy trading isnt profitable.

cydrix

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I studied about copy trading to gain a better understanding of it and to see what study was done on it. It seems to be a reasonable approach, but because individuals tend to believe those whose trades they follow, it encourages them to take more risks. I wouldn't say it's a simple and reasonable expectation, though, because nobody can promise any profits, and 1% per day adds up to a significant amount each month. Losses can occur in addition to victories, and maintaining a winning streak is difficult even when emulating an expert. I don't believe it to be true, and for me, the risk outweighs any potential advantages.

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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$

it all depends on the platform as well as the choice of the trader you are going to follow and copy the trades. this is of course risky, a trader who even has a lot of followers cannot be sure that his trade will be successful.
$20 of the $2000 you have, it should be doable. but through copy trading you want, try to find traders who have the ability for it.
somehow you are more interested in copying trades, I do not like it.

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