Is copy trading a legit way of income for beginners or just a marketing tactic?

wxa7115

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Quote from: tygeade on September 01, 2023, 03:01:02 PM

Quote from: KingsDen on August 29, 2023, 06:58:28 AM

There is no doubt that they are supposed to learn first before looking for a simple way to earn. If newbies start making making money from copy trading, it is not a bad thing. It will only be bad if they refuse to learn how to trade themselves and relying very much on signals. If they don't have idea of the chart they will copy wrong signals and make losses but with trading idea they can do better with the copy trading. I am not against any smart way to make money, it must not only be your pattern, you can borrow.

I would say that it is not just about trading with someone else's idea, I think it is also important to learn what they are doing as well. If you are doing copy trading but not learning why you are buying something that means you are going to end up with a bad result and you should be avoiding that if you can.

There are situations where it is not going to end up with a good result at all, you should be a lot more careful about it whenever you can. I think it is important to make sure that you are profiting as much as you possibly could and that will definitely make sure that you are going to end up with a great profit when the time comes, it should be a lot simpler that way and could mean that you learn from it and not just used it.

Doing something without knowing why you are doing it is always a bad idea, and that is exactly what copy trading is about, newbies want to believe they can still make money without knowing anything about this market and that is simply a dream.

The ones that do best on the market are the ones that know the most about it, and they are never going to allow anyone else to copy them, and if they found out the trading platform they were using were allowing others to copy them you can be sure they will leave the platform as soon as they find out.

tygeade

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Quote from: KingsDen on August 29, 2023, 06:58:28 AM

There is no doubt that they are supposed to learn first before looking for a simple way to earn. If newbies start making making money from copy trading, it is not a bad thing. It will only be bad if they refuse to learn how to trade themselves and relying very much on signals. If they don't have idea of the chart they will copy wrong signals and make losses but with trading idea they can do better with the copy trading. I am not against any smart way to make money, it must not only be your pattern, you can borrow.

I would say that it is not just about trading with someone else's idea, I think it is also important to learn what they are doing as well. If you are doing copy trading but not learning why you are buying something that means you are going to end up with a bad result and you should be avoiding that if you can.

There are situations where it is not going to end up with a good result at all, you should be a lot more careful about it whenever you can. I think it is important to make sure that you are profiting as much as you possibly could and that will definitely make sure that you are going to end up with a great profit when the time comes, it should be a lot simpler that way and could mean that you learn from it and not just used it.

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Quote from: gunhell16 on August 30, 2023, 01:14:57 AM

Quote from: xSkylarx on August 29, 2023, 10:05:40 PM

I don't have experience in copy trading, but I do say that it is just traders playground, as they are earning big on that because they always get a cut when a trader copies, which we know copy trading is full of, and I've also seen that if you don't have huge capital on it, you can't feel the profit. Though I don't see it as a marketing tactic, I've seen it in those traders who joined to earn more.

You are right there; the copied trader who set up on a copy trading platform has a cut. Then one more thing: this copy trading is for people who are too lazy to learn crypto or who don't have time to learn crypto trading because they are busy with their jobs or businesses, whatever. As I can imagine, there may be profit to be made there, but don't expect much.

DYOR (do your own research) is still needed. It is said that if we want to learn to drive a car, we must learn the basic things about the car we will drive, and after getting a license to prove that we know something about being a driver, the same is true, of course, in conducting trading in this field. .

Unfortunately you are right. It is true that too many people end up not doing the right way and they end up losing money because of it. People should realize that they can't really make it work one way or another, it should not really be a big deal like that. I think it's important to learn how to trade yourself, if people keep on trusting others for their income the result will not be easy and they are going to be pretty upset about it as well.

If you do your own learning and start your own trading then you are going to make even more profit. If you keep copying someone, there is a potential that they are going to leave one day and you are going to be searching for someone else, or they could make a loss and you wouldn't know why.

Hamphser

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Quote from: Bushdark on August 30, 2023, 04:33:12 PM

Quote from: KingsDen on August 29, 2023, 06:58:28 AM

Quote from: AmoreJaz on August 27, 2023, 05:01:17 PM

Quote from: Distinctin on August 27, 2023, 04:59:05 PM

It’s legit if you are copying trades from professional and profitable traders. But I believe beginners are not supposed to trade, nor copy some trading signals, because they don’t have the sufficient knowledge and skills that are required for a successful trading. It only seems that they trade to make quick profits, and I don’t think it will happen because of greed. The only way they’ll be successful traders

if they will opt to this route, they are subjecting themselves to a potential loss without a battle. because these traders are also human and they are prone to mistakes as well. better learn on your own as you will earn a lot of tips along the way.
but there's nothing wrong to try your hands on copy trading, so long you know about your expectations here. it is no guarantee that you will always earn profits from this route.

There is no doubt that they are supposed to learn first before looking for a simple way to earn. If newbies start making making money from copy trading, it is not a bad thing. It will only be bad if they refuse to learn how to trade themselves and relying very much on signals. If they don't have idea of the chart they will copy wrong signals and make losses but with trading idea they can do better with the copy trading. I am not against any smart way to make money, it must not only be your pattern, you can borrow.

Copy trading has it own risk but some persons may not understand why it is risky for we to be coping another persons trades when we know that no one is better than the market self. We need to learn first before we go into trading or else we are going to be moving from one signal to the other or from one copy trading exchange to another. It is much better we acquire the skill that will make us trade in the market without any problem than looking for a cheaper ways for us to earn from the market when we are not ready to do the right thing that will propel us to make some certain achievement from the market.

You would really be able to realize things along the way on which it is really that something that you would really be that able to experience on whats the reality of trading and this is something that cant really be

that avoided that self realizations and awareness on how this market works would really be opening your eyes on how things should be dealt with. On the time that you do see yourself on a condition on which
you had been fucked up with those traders that you had followed or making yourself in a position on which you are really that negative then you would really be definitely be finding yourself on a tight spot
and made out some on point realization and learning that you must need to know at least on learning trading even with the basics.

You cant really be able to follow forever and if you do really have those plans on making yourself that better then it would really be just that wise to learn and trade on your own or
simply going that on manual trades.

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Quote from: KingsDen on August 29, 2023, 06:58:28 AM

Quote from: AmoreJaz on August 27, 2023, 05:01:17 PM

Quote from: Distinctin on August 27, 2023, 04:59:05 PM

It’s legit if you are copying trades from professional and profitable traders. But I believe beginners are not supposed to trade, nor copy some trading signals, because they don’t have the sufficient knowledge and skills that are required for a successful trading. It only seems that they trade to make quick profits, and I don’t think it will happen because of greed. The only way they’ll be successful traders

if they will opt to this route, they are subjecting themselves to a potential loss without a battle. because these traders are also human and they are prone to mistakes as well. better learn on your own as you will earn a lot of tips along the way.
but there's nothing wrong to try your hands on copy trading, so long you know about your expectations here. it is no guarantee that you will always earn profits from this route.

There is no doubt that they are supposed to learn first before looking for a simple way to earn. If newbies start making making money from copy trading, it is not a bad thing. It will only be bad if they refuse to learn how to trade themselves and relying very much on signals. If they don't have idea of the chart they will copy wrong signals and make losses but with trading idea they can do better with the copy trading. I am not against any smart way to make money, it must not only be your pattern, you can borrow.

Copy trading has it own risk but some persons may not understand why it is risky for we to be coping another persons trades when we know that no one is better than the market self. We need to learn first before we go into trading or else we are going to be moving from one signal to the other or from one copy trading exchange to another. It is much better we acquire the skill that will make us trade in the market without any problem than looking for a cheaper ways for us to earn from the market when we are not ready to do the right thing that will propel us to make some certain achievement from the market.

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Quote from: ananyabushra on August 08, 2023, 08:10:43 AM

Finally, you need to remember that copy trading is still an investment, and there is always the risk of losing money. Even if you're copying a successful trader, there's no guarantee that they will continue to be successful in the future.

I like you adding this as a spice Grin

copy trading doesn't give you a probability of 5/5 chance you might e even be the fifth person if its person -person now imagine it's being edited for loss and you know little or nothing about trading you are gone Grin

. Learn upto some extent before even trying a copy trading that is my advice for anyone trying to copy trade . If you are asking for definition of the EXTENT then I'm simply implying to the point of tou reading trade you want to copy like reading a notebook easily Cool

gunhell16

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Quote from: xSkylarx on August 29, 2023, 10:05:40 PM

I don't have experience in copy trading, but I do say that it is just traders playground, as they are earning big on that because they always get a cut when a trader copies, which we know copy trading is full of, and I've also seen that if you don't have huge capital on it, you can't feel the profit. Though I don't see it as a marketing tactic, I've seen it in those traders who joined to earn more.

You are right there; the copied trader who set up on a copy trading platform has a cut. Then one more thing: this copy trading is for people who are too lazy to learn crypto or who don't have time to learn crypto trading because they are busy with their jobs or businesses, whatever. As I can imagine, there may be profit to be made there, but don't expect much.

DYOR (do your own research) is still needed. It is said that if we want to learn to drive a car, we must learn the basic things about the car we will drive, and after getting a license to prove that we know something about being a driver, the same is true, of course, in conducting trading in this field. .

xSkylarx

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I don't have experience in copy trading, but I do say that it is just traders playground, as they are earning big on that because they always get a cut when a trader copies, which we know copy trading is full of, and I've also seen that if you don't have huge capital on it, you can't feel the profit. Though I don't see it as a marketing tactic, I've seen it in those traders who joined to earn more.

Lanatsa

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Quote from: KingsDen on August 29, 2023, 06:58:28 AM

Quote from: AmoreJaz on August 27, 2023, 05:01:17 PM

Quote from: Distinctin on August 27, 2023, 04:59:05 PM

It’s legit if you are copying trades from professional and profitable traders. But I believe beginners are not supposed to trade, nor copy some trading signals, because they don’t have the sufficient knowledge and skills that are required for a successful trading. It only seems that they trade to make quick profits, and I don’t think it will happen because of greed. The only way they’ll be successful traders

if they will opt to this route, they are subjecting themselves to a potential loss without a battle. because these traders are also human and they are prone to mistakes as well. better learn on your own as you will earn a lot of tips along the way.
but there's nothing wrong to try your hands on copy trading, so long you know about your expectations here. it is no guarantee that you will always earn profits from this route.

There is no doubt that they are supposed to learn first before looking for a simple way to earn. If newbies start making making money from copy trading, it is not a bad thing. It will only be bad if they refuse to learn how to trade themselves and relying very much on signals. If they don't have idea of the chart they will copy wrong signals and make losses but with trading idea they can do better with the copy trading. I am not against any smart way to make money, it must not only be your pattern, you can borrow.

Doesnt matter if they wont learn as long they do make money then this what matter the most and this is something that most people would really be that doing and wont mind if they wont learn a thing in trading.

Sooner or later when things comes messy or on the time that there's no copy trading or the ones they've been following do make out some shit trades. Then for sure they would really be changing up those kind of
impressions on which they might be thinking that it would really be just better if they would really be learning trading on their own but they have already wasted too much time and chances but well
there's no such thing about being late as long you do make out those realizations then learning something new and starting it up with that journey is never been wrong.

Most of the times which mistakes are the learning stepping stones for us to be better. We do have those common newbie impressions which are wrong but later on when reality had slapped
into your face then you would really be making out those realizations and would really be going on the right path.

KingsDen

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Quote from: AmoreJaz on August 27, 2023, 05:01:17 PM

Quote from: Distinctin on August 27, 2023, 04:59:05 PM

It’s legit if you are copying trades from professional and profitable traders. But I believe beginners are not supposed to trade, nor copy some trading signals, because they don’t have the sufficient knowledge and skills that are required for a successful trading. It only seems that they trade to make quick profits, and I don’t think it will happen because of greed. The only way they’ll be successful traders

if they will opt to this route, they are subjecting themselves to a potential loss without a battle. because these traders are also human and they are prone to mistakes as well. better learn on your own as you will earn a lot of tips along the way.
but there's nothing wrong to try your hands on copy trading, so long you know about your expectations here. it is no guarantee that you will always earn profits from this route.

There is no doubt that they are supposed to learn first before looking for a simple way to earn. If newbies start making making money from copy trading, it is not a bad thing. It will only be bad if they refuse to learn how to trade themselves and relying very much on signals. If they don't have idea of the chart they will copy wrong signals and make losses but with trading idea they can do better with the copy trading. I am not against any smart way to make money, it must not only be your pattern, you can borrow.

gunhell16

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At first, I was a bit negative about copy trading, but later on, from what I can see, it seems that it can somehow generate income—not much, but at least there is some income coming in. So it just depends on the traders you choose to copy. Because I saw a trader to copy who performed well for a week.

Which just means that the set-up trading done by the trader is good, but the only risk I see is that if you copy the wrong trading, you will lose for sure. This is based on my observation that I saw on a platform that has copy trading, which is the Fairdesk platform that they are using, and so far, Fairdesk is fine and good in my view for now, apart from no KYC.

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Quote from: Distinctin on August 27, 2023, 04:59:05 PM

It’s legit if you are copying trades from professional and profitable traders. But I believe beginners are not supposed to trade, nor copy some trading signals, because they don’t have the sufficient knowledge and skills that are required for a successful trading. It only seems that they trade to make quick profits, and I don’t think it will happen because of greed. The only way they’ll be successful traders is once they come to understand and value their trades, and that will only be possible if they have gained enough knowledge and skills through the experience of other traders, and through their future trading experiences.

that's exactly what's happening right now. beginners who come interested in trades that will give quick profits. because they do not have enough skills, most will follow the signal channel and follow the advice to do copy trading.
they do not need to do any research regarding the trade they are about to enter. because they don't have the skills, beginners will have more confidence in what they are following.
We can't force beginners to learn trading, but hopefully, those trying to join a trading group will learn something for their own development.

wxa7115

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Quote from: AmoreJaz on August 27, 2023, 05:01:17 PM

Quote from: Distinctin on August 27, 2023, 04:59:05 PM

It’s legit if you are copying trades from professional and profitable traders. But I believe beginners are not supposed to trade, nor copy some trading signals, because they don’t have the sufficient knowledge and skills that are required for a successful trading. It only seems that they trade to make quick profits, and I don’t think it will happen because of greed. The only way they’ll be successful traders

if they will opt to this route, they are subjecting themselves to a potential loss without a battle. because these traders are also human and they are prone to mistakes as well. better learn on your own as you will earn a lot of tips along the way.
but there's nothing wrong to try your hands on copy trading, so long you know about your expectations here. it is no guarantee that you will always earn profits from this route.

The people choosing this route are obviously delusional as what they want is to obtain profits from a market of which they know nothing and yet they expect everything handed to them, in short they are entitled, and such a person rarely gets any success in an activity in which the only thing that matters is your skill.

And once they inevitably fail they will learn nothing, except to stay away from copy trading, something they should have known anyway if they took a few minutes to think about the nature of this market and what is needed out of them in order to reach some level of success.

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Quote from: Distinctin on August 27, 2023, 04:59:05 PM

It’s legit if you are copying trades from professional and profitable traders. But I believe beginners are not supposed to trade, nor copy some trading signals, because they don’t have the sufficient knowledge and skills that are required for a successful trading. It only seems that they trade to make quick profits, and I don’t think it will happen because of greed. The only way they’ll be successful traders is once they come to understand and value their trades, and that will only be possible if they have gained enough knowledge and skills through the experience of other traders, and through their future trading experiences.

Yes, I like the way you channelled it, or the way you understand it, if beginners copied a trade they will not utililize it because they lacks experience whereas if an experienced traders copied a trade they will study it and at last they will know what to do with it, so I believe that it will know what to do with the trade they copied, not everyone who copied trade are successful and the summary end on experience because you most have an idea of something before making use of it.

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Quote from: Distinctin on August 27, 2023, 04:59:05 PM

It’s legit if you are copying trades from professional and profitable traders. But I believe beginners are not supposed to trade, nor copy some trading signals, because they don’t have the sufficient knowledge and skills that are required for a successful trading. It only seems that they trade to make quick profits, and I don’t think it will happen because of greed. The only way they’ll be successful traders

if they will opt to this route, they are subjecting themselves to a potential loss without a battle. because these traders are also human and they are prone to mistakes as well. better learn on your own as you will earn a lot of tips along the way.
but there's nothing wrong to try your hands on copy trading, so long you know about your expectations here. it is no guarantee that you will always earn profits from this route.

Distinctin

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It’s legit if you are copying trades from professional and profitable traders. But I believe beginners are not supposed to trade, nor copy some trading signals, because they don’t have the sufficient knowledge and skills that are required for a successful trading. It only seems that they trade to make quick profits, and I don’t think it will happen because of greed. The only way they’ll be successful traders is once they come to understand and value their trades, and that will only be possible if they have gained enough knowledge and skills through the experience of other traders, and through their future trading experiences.

tygeade

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Quote from: Peanutswar on August 22, 2023, 09:06:31 AM

Theres are a lot of platforms offering a copy trading, one of the major benefits of it is the less hassle for the traders to make a position and let other people make a trade to them so they don't need to wait for most of the time commit a trade they just need to wait for the outcome, they are offering of course the win rate and list of active traders so the copy-traders can copy those trades of high win rates but of course if the trader makes a position you will set a position too it depends if you have still the balance to continue the trade not as always the traders win their position, the question here now is are you willing to risk other people make a trade to you or base on your knowledge still.

It is true that you are trusting someone else, and that is not really normal when it is something you could also do. I am not saying that it is a bad idea, all I am saying is that we shouldn't really trusting someone else to make these decisions for us when we can do it ourselves. I think it is quite important to just make it work, and as long as we could make it work, it should be fine.

I get that it is tough to start when you are a newbie, but as long as you do the right thing, you should be making a good profit one way or another, and you need that. I get that you are not going to make profit right away neither, and you will wish that you copied someone else who did profit, and those are all natural feelings, but you will get better with time.

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Quote from: Peanutswar on August 22, 2023, 09:06:31 AM

Theres are a lot of platforms offering a copy trading, one of the major benefits of it is the less hassle for the traders to make a position and let other people make a trade to them so they don't need to wait for most of the time commit a trade they just need to wait for the outcome, they are offering of course the win rate and list of active traders so the copy-traders can copy those trades of high win rates but of course if the trader makes a position you will set a position too it depends if you have still the balance to continue the trade not as always the traders win their position, the question here now is are you willing to risk other people make a trade to you or base on your knowledge still.

There is also a problem with this way of selecting traders, the win rate of a trader tells us nothing, as an example those offering strategies like martingale claim that anyone using it will win 99% of the time, and they are right, what they do not tell you is that once you lose you will lose everything.

And something similar happens with trading too, as a high win rate most of the time means taking a higher risk as well, and most of the time this will go against the wishes of those that wanted to copy other traders as they associate a high win rate with a high degree of certainty and stability.

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Theres are a lot of platforms offering a copy trading, one of the major benefits of it is the less hassle for the traders to make a position and let other people make a trade to them so they don't need to wait for most of the time commit a trade they just need to wait for the outcome, they are offering of course the win rate and list of active traders so the copy-traders can copy those trades of high win rates but of course if the trader makes a position you will set a position too it depends if you have still the balance to continue the trade not as always the traders win their position, the question here now is are you willing to risk other people make a trade to you or base on your knowledge still.

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Quote from: Kelvinid on August 17, 2023, 05:25:45 PM

Copy trading OP is really a good way for newbies to learn about trading but we couldn't say that newbies can earn money from that as it depends on where they get it. What I mean is that it depends on the source of information because many people had fallen into the wrong group pretending that they are good at this but yes, they're making nonsense. Although I don't discourage for newbies to do copy trading at least they know who the person that they are following or else, this will give them a nightmare and the wrong direction.

Some exchange platforms actually provide copy-trading opportunities for newbies, so it is not like they need to go around looking for good traders so that they can follow their trades. However, I would still not recommend a newbie to use copy-trading as a way to earn money without trying to learn everything themselves thinking that they are already making a profit and it is not necessary to learn anything about the market or trading activities anymore.

When you learn everything yourself and become able to make your trades manually yourself, you will be your own boss without having to rely on someone else's trades to make a profit, and you can always adjust your trading practices as per your own experience and knowledge to meet your goals.

Topic: Is copy trading a legit way of income for beginners or just a marketing tactic? (Read 601 times)