Topic: Can copy trading be profitable - page 5. (Read 570 times)

it is possible but also depends on which traders you gonna copy and which platform you using. copy trading need a lot of skills and you need to be constantly online to copy traders in right time. if it gets too late you would end up loosing that buy or sell opportunity.

30% is possible. but as I said it depends on several things.. if it is done properly he can make $20 per day with $2000 investment.

I guess you can copy reputable people’s trades but if you’re following people with big Twitter followings they are likely to only show you their big wins. Do they post trades BEFORE they are created or AFTER they are closed? If they are bit accounts then they are probably a lot wealthier than you & can afford to lose on trades. Can you?

Just be aware that a lot of social media crypto accounts are grifters, some of them get paid by exchanges to post etc so are the trades even real?

Just be very aware of what you’re doing & don’t trade with more than you can afford to lose.

Try moving it to the trading board as it will be more appropriate there to discuss it.

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It depends on you how to do it and the research to take part in copy trading, but to be honest I don't do this except with my own skills to trade, but in reality it is difficult to make daily profits let alone $ 20, maybe anyone can do it but if you are still asking the possibility that you are still new to copy trading.

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.

No. The rest of the answers give too many twists and turns on the subject, wanting to make an annual return of 365% is a direct path to losing your $2,000, which will get closer to a 100% chance of losing it all the longer you use copy trading or any other strategy.

And by the way, if someone offers you that return, be suspicious that they are trying to scam you.

By the way, I just noticed that the OP opened a similar thread in the Gambling section:

Can i make 100 $ daily from online casinos

He is determined to make a profit that cannot be made except by a miracle, and much less in a sustained manner over time.

Definitely do your research, not to mention that even if you're copying the most successful trader out there, the risk would still be the same for both because losses are an inevitability when trading, I do think that it is profitable though as long as you're copying someone who has more success in trading than fails. I don't know the math whether you can make 20$ out of 2k$ but if you are copy trading, there's a likely chance you'll make more daily.

Those that tried this copy trading in the past, find it difficult to meet up with their plan because crypto market is unpredictable which the market price can change at anytime for the day traders not to make profits at the moment. To make $1 per day is not easy with that kind of capital but you can make more than that weekly because there will be hope of making more than $4 per week.
I don't think, you can make $20 per day because is not guarantee that the price of crypto will remain bull forever which traders used to experienced bear market and bull market to allow them to plan for another day, week or month. But you can make a good profits from that $2000, if you can apply long term holding which is the best strategy many traders use to make reasonable profits from their trading.

Daily trading as you mentioned may not always be beneficial. Some days the market can be unpredictable and I think that taking a break could be necessary to avoid losses. Timely breaks are crucial imo, and they can help you avoid a losing streak.

Starting with $20 would be ideal as it would allow the OP to understand how investing works and learn from their mistakes over time until they become an expert. However investing $2000 as a starting point and waiting for a daily revenue of $20 can be risky, but it could be feasible if you have a lot of knowledge and/or following a solid strategy that minimizes risk while making daily profits.

If you start your trading as a copy trader, copying signals of more better traders with result, it is good that you plan not to remain a copy trader if you want to be really be a trader for a long time. Depending on someone is not good especially in trading because any day that person stops making it possible for you to copy their trade or when they start failing, it will difficult for you to continue with trading. Copy trading can be profitable but not for long.

How reliable is the person you want to copy trade if I may asked, not all copy trade are profitable you might funds your account upto $2k and waste it just in few weeks. Besides 20$ per day is something that's not certain since you've not use the tools the before, so if I were to be you I won't mind putting less to know how authentic the trading would be for me before increasing my equity.

If I understood ImThour, its statement above did not state that more than 30% profit is always certain, but there is a possibility of making up to 30% profit every month, which is also just an assumption used to give the OP advice, which was also made very clear that the chances are less than 5%. When one says you only have 5% chances of winning something, you can see that there is also a 95% possibility of failing, which is a very bad sign, and you will be depending on luck to win.

There is no part taken in making money that's very easy, although I believe and I have seen people making profit from trading and prediction of market price in every market condition. That does not mean they don't lose trades or they always win all their trades, but their amount of positive trade is always greater than their losses.

OP, your chances of making up to 1% profit every day are very low unless you are ready to partake in a very high-risk trade that might not end well for you. If you already have a good trader with whom you are coping, all you have to do is try it, adding a little experience you might have acquired yourself. Don't put all your 2,000 dollars into one trade; it's risky. Better yet, slit your funds little by little so that if the trade goes sideways, you won't lose everything completely. You also have to reduce your 1% daily profit estimate. If you have a lesser target, it might as well reduce the risk of entering the wrong trade.

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.

Lead traders (traders that copy traders are copying trading from) are people too. I have heard of a lead trader that had good time and make profit, followed by bad time of huge losses.

All days can not be good, there are days that trading will not yield any profit. There are times trading will result to only losses. That is correct.

Do not use your $2000 to trade. Learn trading from scratch and use just $20 to begin. Increase it to $200 and do not let it be more than that. Your experience will let you know what you should do next after you have been trading for a year.

See trading like gambling.

There are different types of trading strategies and they each have their level of risk and potential reward. Making an estimate of if a strategy is profitable is impossible, you have to consider how it is applied, how much is staked and the understanding of the market the trader has.

A profit of 1% per day is accumulated to 365% if you are trading an asset like bitcoin which is always live. That is a high expectation for average earning when you factor in that there would be losses accumulated on different days.
Start by doing your research on the different trading methods, test the waters with a few of them by demo trading or back testing the strategy.

- Jay -

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?

$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.

Is copy trading worth it

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