Copy trading being a Marketing tactic no its not!!
Copy trading was initially meant for users with more than 2 accounts on same platform or several platforms to allow them to open trades automatically without having to do it manually several times for the same trade...
But overtime , some of these platforms have changed how it's used by allowing other traders including beginners to copy profitable traders by monetizing this process which is a win win for both parties and with time will grow in popularity.
Topic: Is copy trading a legit way of income for beginners or just a marketing tactic? - page 3. (Read 615 times)
August 14, 2023, 01:29:01 PM
August 14, 2023, 12:20:21 PM
when I was a beginner, I dec
ided to study with my friend, so it would be easier for me to ask questions about what I didn't know, I saw the way he made transactions and asked after closing positions, so that over time I learned the basics of trading. , actually it's the same if we do copy trading, but after I learned the basics I started practicing on my own, but the most difficult thing was learning to control psychology, because even though I already knew something that shouldn't be done, I still violated it
Ive done the same, but copy trading is very different. If you just copy a trader, you're good, with no explanation or whatsoever, unlike with your friend, who has a discussion over it in which you can learn and still learn the basics, unlike a few newbies who are just relying on the trader they copied and then waiting for their portfolio to be green or red. What I really noticed about copy trading is that only the trader you've copied will be earning more, as he gets a cut every time someone copies his trade. For beginners, it is really recommended to learn before doing something else. ided to study with my friend, so it would be easier for me to ask questions about what I didn't know, I saw the way he made transactions and asked after closing positions, so that over time I learned the basics of trading. , actually it's the same if we do copy trading, but after I learned the basics I started practicing on my own, but the most difficult thing was learning to control psychology, because even though I already knew something that shouldn't be done, I still violated it
August 14, 2023, 11:35:46 AM
Copy trading is good method to make quick profits if done it properly. But what goes wrong is that Newbies starts complaining when they make loss due to these copy trades. They know that when they are trading, they should be equally ready for both win and losses, but when they face loss, they started cursing the trader, whose trades they are coping. It they get enough knowledge to accept both wins and losses, then definitely as a beginner copy trading can give you good profits.
August 14, 2023, 11:26:47 AM
well the thing here is that you are copying the trading activity that the so called pro trader is having, finding traders thats really good at the thing they're doing is quite hard honestly.
i bet many the so called pro traders are also just don't have idea how to make a good trade if they don't find information before hand.
I guess its good if you are really beginner at the field and just wanna get starting up fast, then I guess it does make sense just to follow the path of those pro in trading.
but for long term you should make analysis based on your own deduction.
however, if the trades that you are following from these pro traders turns out to be really good, nothing wrong in keeping things like the way it is, basically just follow them until you hit your target.
It’s not bad actually to follow a pro and successful trader, but know that there is no excuse from the risk of losing in trading. So never expect that if this professional trader becomes profitable most of the time, then he will guarantee high profitability in the future. The market is changing, and so with how the traders attack the market. They can be profitable today, but no one can guarantee if they will still be as productive as today in their next trades. That’s the reason why traders should never rely mostly in copy trading, at times it can be profitable, but most of the time it can be a source of high financial loss. i bet many the so called pro traders are also just don't have idea how to make a good trade if they don't find information before hand.
I guess its good if you are really beginner at the field and just wanna get starting up fast, then I guess it does make sense just to follow the path of those pro in trading.
but for long term you should make analysis based on your own deduction.
however, if the trades that you are following from these pro traders turns out to be really good, nothing wrong in keeping things like the way it is, basically just follow them until you hit your target.
August 14, 2023, 09:40:19 AM
when I was a beginner, I decided to study with my friend, so it would be easier for me to ask questions about what I didn't know, I saw the way he made transactions and asked after closing positions, so that over time I learned the basics of trading. , actually it's the same if we do copy trading, but after I learned the basics I started practicing on my own, but the most difficult thing was learning to control psychology, because even though I already knew something that shouldn't be done, I still violated it
August 14, 2023, 08:40:21 AM
We can just skip market analysis, not put in any effort or time, and have someone else handle our trading. It sounds almost too good to be true, doesn't it? That's what copy trading offers us, but can we really trust it?
Well if beginners all they care about are just money and profit then copy-trading might be thing for them because they don't need to learn anything and just copy whatever the pick from traders they are copying. But in the long run if those beginners really want to know about how they do it by themselves then that's going to be a problem because you have zero idea on how to do it.Also most of the picks are just really bad and that would make them demotivated even more because they gain nothing from it.
August 14, 2023, 08:16:36 AM
It seems I will disagree with you here. It doesn’t matter how well a trader knows the charts, how well he knows about the fundamentals, and his overall knowledge of the market. All these are skills needed by every good trader. But if anyone possesses all these skills and yet does not win in the long run, we cannot say that the trader is a successful one.
As I said above, there are win days and loss days for every trader. If your winnings do not exceed your losses, you are not a good trader, no matter how skillful you are.
On the other hand, if a beginner trader who doesn't know much about the analysis of trade, finds a way to win more than lose, that beginner is a successful trader more than a professional whose losses are more than wins.
Exactly no trader can boast of zero loss in trading even professional traders, whether you are trading with a robot, AI, or super-intelligent computers, Profitability in trading is determined by your past profit and loss trading records (+ and -) over the years of trading and not something of three or six months of trading.
August 14, 2023, 05:21:39 AM
Even a professional trader will at a time lose money. What differentiates a good trader from a bad trader is whether they are running on losses or profits on the long run.
Successful traders are not only measured by how much returns they get - they also need to know a lot about how to do analysis and how the market works.
It seems I will disagree with you here. It doesn’t matter how well a trader knows the charts, how well he knows about the fundamentals and his overall knowledge of the market. All these are skills needed by every good traders. But if anyone possess all these skills and yet do not win on the long run, we cannot say that the trader is a successful one.
As I said above, there are win days and loss days for every trader. If your winnings do not exceed your losses, you are not a good trader, no matter how skillful you are.
In the other hand, if a beginner trader who doesn't know much about analysis of trade, finds a way to win more than lose, that beginner is a successful trader more than a professional whose losses are more than wins.
August 13, 2023, 10:49:14 AM
Many times copy trading does not give reliable experience, because some of those who provide for this copy trading are actually not real and professional traders on their own. They just simply make this a source of living out from the payments they get from those who carelessly subscribe to them. So yes, it would be more acceptable if those who copy trade are just for fun, and definitely not to earn profits.
They did not get reliable experience because they follow everyone without make a correct investigation which is very important. In my opinion just learn and do by yourself as self decision are more better than following the decisions of others.
As a beginner you would think that if you copy someone who's profiting in trading of course you would follow his advice despite the fact that he's no professional or much worse it's made up by AI since nowadays you could gather information by just simply ask an AI. Which is not a good way to trade since you couldn't rely your money on AI cause you won't learn anything if you just want to get spoodfed by an AI.
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Crypto is that field in which scammers and wrong people enters very easily and no one can identify them. Large number of groups are created just for getting income from it by spreading that information which is useless.
Here one should take every step Wisely and try to inquire as it is about your financial system which does not stabilizes easily.
I think everything that has involved money has always scammers and hackers for online. Even in gambling sites, simple link that looks not harmful but once you clicked it your wallet would be drained. In investing like real state, sometimes once you paid them you couldn't even own the land since the company you've invested are fake. Mostly of the scammers comes with a group so they could easily manipulate newbie. Just do some DEEP researching so you could exactly know what you are doing plus can avoid scams.
August 13, 2023, 05:24:24 AM
Many times copy trading does not give reliable experience, because some of those who provide for this copy trading are actually not real and professional traders on their own. They just simply make this a source of living out from the payments they get from those who carelessly subscribe to them. So yes, it would be more acceptable if those who copy trade are just for fun, and definitely not to earn profits.
They did not get reliable experience because they follow everyone without make a correct investigation which is very important. In my opinion just learn and do by yourself as self decision are more better than following the decisions of others.
Crypto is that field in which scammers and wrong people enters very easily and no one can identify them. Large number of groups are created just for getting income from it by spreading that information which is useless.
Here one should take every step Wisely and try to inquire as it is about your financial system which does not stabilizes easily.
August 12, 2023, 07:23:40 PM
well the thing here is that you are copying the trading activity that the so called pro trader is having, finding traders thats really good at the thing they're doing is quite hard honestly.
i bet many the so called pro traders are also just don't have idea how to make a good trade if they don't find information before hand.
I guess its good if you are really beginner at the field and just wanna get starting up fast, then I guess it does make sense just to follow the path of those pro in trading.
but for long term you should make analysis based on your own deduction.
however, if the trades that you are following from these pro traders turns out to be really good, nothing wrong in keeping things like the way it is, basically just follow them until you hit your target.
i bet many the so called pro traders are also just don't have idea how to make a good trade if they don't find information before hand.
I guess its good if you are really beginner at the field and just wanna get starting up fast, then I guess it does make sense just to follow the path of those pro in trading.
but for long term you should make analysis based on your own deduction.
however, if the trades that you are following from these pro traders turns out to be really good, nothing wrong in keeping things like the way it is, basically just follow them until you hit your target.
August 12, 2023, 06:32:10 PM
-snip-
Everything in this cryptocurrency industry is all about risk-taking. Even a professional trader will at a time lose money. What differentiates a good trader from a bad trader is whether they are running on losses or profits on the long run. You cannot use a very short time to measure the professionalism of a particular trader. When you talk about copy trading it is also risky, but this time around the risk is more uncontrollable by the copy trader because the signals and method of trading is not emanating from the copy trader. It is rather coming from another person therefore, the copy trader might not be able to control the trade if things are going wrong.
Successful traders are not only measured by how much returns they get - they also need to know a lot about how to do analysis and how the market works. A trader's performance is highly inconsistent from trader to trader - so copy trading is not a perfect way to adopt over time. It may be great for the early days as a beginner or non-experience trader, but they need to learn a lot to become independent traders.
However, I prefer copy trading to bots trading. I know all of them is risky, but the most important of them is that you should learn how to trade by yourself at least.
As long as you understand the risks and you do it wisely - then you can choose that strategy. But remember - don't get addicted. August 12, 2023, 06:16:50 PM
Copy trading can lead us into profits at some point, but it can never ultimately provide us a consistent flow of income. Nevertheless, even trading itself cannot ensure beginner traders to earn from it because of the high risks that are involved in trading. Furthermore, what makes it more dangerous to use is that you are copy trading from a very unreliable trading provider. You will not only lose your capital and future profits, but the time you put into it will only go into waste.
Everything in this cryptocurrency industry is all about risk-taking. Even a professional trader will at a time lose money. What differentiates a good trader from a bad trader is whether they are running on losses or profits on the long run. You cannot use a very short time to measure the professionalism of a particular trader. When you talk about copy trading it is also risky, but this time around the risk is more uncontrollable by the copy trader because the signals and method of trading is not emanating from the copy trader. It is rather coming from another person therefore, the copy trader might not be able to control the trade if things are going wrong.
However, I prefer copy trading to bots trading. I know all of them is risky, but the most important of them is that you should learn how to trade by yourself at least.
August 12, 2023, 05:54:49 PM
Beginners are not advised to trade and expect to earn profits, since they don’t have the sufficient knowledge and skills to trade in the first place. Instead, they should focus on knowing and understanding the crypto coins and it’s unpredictable market. Later on, once they gained good experience and training in the market, maybe they could start exploring trading as well but should never expect quick profits.
August 12, 2023, 05:15:21 PM
Copy trading is easy, less hassle, however, the challenge on it is to find the right trader that'll give you profits most of the time. The disadvantage is that his trading funds could be bigger than yours so there's a chance that your funds could be burnt in no time while his funds doesn't even budge. So in my opinion, doing copy trading has its own risk and the final decision is yours to make.
Even copy trading is much easier than regular trading, it still need something to do or maintain especially in the beginning. A lot of research need to be done on the trader you are copying and the strategy that the professional trader is doing because like you said you can be burned if you don't have that much funds. Basically, it's not something that a pure newbie who can successfully execute everytime. I think it's for someone that has an experience to fully take advantage of this service/system. 
August 12, 2023, 03:57:56 PM
Copy trading as a new initiative by some exchanges like Bitget who promises to be an advanced trading solution to pro traders, might just be another of its marketing tactic. One thing to note however is that every existing platform or crypto/coin has its own marketing tactic which is the core as to why it operates.
Hence, copy trading for me is a also deemed reasonable as a marketing tactic.
Also, I think traders who understand the basics of trading, have tried trading at least more than 3-10times, can try copy trading feature from a reputable exchange. I believe one can only copy what he truly understands, else failure is going to be the result.
Hence, copy trading for me is a also deemed reasonable as a marketing tactic.
Also, I think traders who understand the basics of trading, have tried trading at least more than 3-10times, can try copy trading feature from a reputable exchange. I believe one can only copy what he truly understands, else failure is going to be the result.
August 12, 2023, 08:46:12 AM
Copy trading is easy, less hassle, however, the challenge on it is to find the right trader that'll give you profits most of the time. The disadvantage is that his trading funds could be bigger than yours so there's a chance that your funds could be burnt in no time while his funds doesn't even budge. So in my opinion, doing copy trading has its own risk and the final decision is yours to make.
August 12, 2023, 07:50:07 AM
So, is copy trading legitimate? Yes, it can be a legitimate way to invest if you do your research and select the right traders. However, it's important to remember that there is always the risk of losing money, even with copy trading.
Copying a successful trader is a good start for any beginner. In case we have access to the trading strategies of experienced traders I would recommend anybody to take a look at them and implement them if it still makes sense. Blindly following a successful trader however is not going to work forever. Just because we make money in the first few months is no guarantee that we are going to keep making money of the strategies. The crypto markets are changing all the time and we need to keep reevaluating our positions and adjust them to new market conditions. How likely is it that the experienced trader will let us know when he closes down position? In case we pay the trader with a monthly subscription then I wouldn't worry so much, but if not I would be cautious. It could be devastating to be stuck in a trade that we should have closed out weeks ago. Getting inspirations for trading strategies is a good thing, just make sure you understand it and do some own research.
August 12, 2023, 01:50:20 AM
So, is copy trading legitimate? Yes, it can be a legitimate way to invest if you do your research and select the right traders. However, it's important to remember that there is always the risk of losing money, even with copy trading.
Copying a successful trader is a good start for any beginner. In case we have access to the trading strategies of experienced traders I would recommend anybody to take a look at them and implement them if it still makes sense. Blindly following a successful trader however is not going to work forever. Just because we make money in the first few months is no guarantee that we are going to keep making money of the strategies. The crypto markets are changing all the time and we need to keep reevaluating our positions and adjust them to new market conditions. How likely is it that the experienced trader will let us know when he closes down position? In case we pay the trader with a monthly subscription then I wouldn't worry so much, but if not I would be cautious. It could be devastating to be stuck in a trade that we should have closed out weeks ago. Getting inspirations for trading strategies is a good thing, just make sure you understand it and do some own research.
August 10, 2023, 05:11:42 AM
Copy trading isn't for beginners. Only mid level traders and professional or expert traders should copy trade. By the way, this.isnthe most laziest way to make money off of trading. Real and more experienced traders would never advice any beginner to copy trade because there is no skill acquired from copy trade. Beginners are called beginners for a reason. They have to start from the beginning and learn the basics of trading. Their priority at the beginning should never be to make money but to learn the steps that it entails.
I agree that you are going to be trading yourself instead of making the movement yourself and that's why there is going to be something that will make some changes for some people if they end up copy trading, it's better to make a change yourself and trade yourself if you can. However, I do not think that mid level and veteran traders will end up using copy trading, that doesn't really make any sense and I think that it will not be something that will benefit anyone at all.I think it's obvious that we are going to end up with a situation that will be better. This is why it's easier to just focus on what you have and instead of copy trading as a veteran, let that be the what newbies do, newbies should copy the veterans instead.
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