New trader looking to profit from the crypto market - page 2.

el kaka22

legendary

Activity: 3654

Merit: 1165

www.Crypto.Games: Multiple coins, multiple games

Quote from: bitcoinisgreat on April 28, 2020, 08:54:07 AM

I have been looking at creating a passive income for myself and it looks like eToros' copy trading could be my best option.

One of my friend who has burnt his fingers has shared his observation about copy trading like this:
If you set with big capital like $25k to $50k and dividing them into 5 parts to follow 5 different versatile traders(based on your own analysis and by listening their recommendation) then you may get chances to generate consistent passive income stream. Small capital and following one or multiple traders with only one account may not help in copy-trading.

It means that you must have more than 2 accounts and follow only one trader per account. This will get you profits in average. More important thing is relatively good capital amount in each account (same level of amount in all accounts is recommended so that losses in one account could be covered by another account).

tbterryboy

sr. member

Activity: 2030

Merit: 323

Copy trading can be profitable only when you are able to copy a well-tested trader for free of cost. I guess no platform is providing it free right now. Sometimes, the profits you are making may not cover the subscription fees of copy-trading feature.

Also I read platforms are running their own accounts and advertising them as a highly successful traders to attract other traders for copy-trading subscriptions. Platforms must be generating two way of revenues by doing this; 1. Copy-trade subscription fee 2.Commissions on each trade.

LeoBTCGod

jr. member

Activity: 60

Merit: 1

You can profit from active trading, or profit from running an exchange. What do you think will be more profitable? It seems like you're looking for something long term, so I suggest you research decentralized exchanges which makes it possible to profit passively from running nodes on the network.

Stakenet is a good one, which is ready real soon, and offers instant off-chain trading through the Lightning Network. It has trading view, is ready for bots if you want to use one like gunbot for arbitrage and much. If you choose to invest in a masternode, you can essentially profit from the fees on the DEX.

Whenever someone trades from BTC => LTC or vice versa, the fee's are sold on the DEX for XSN, which is distributed to the masternodes, this creates artificial demand for the XSN coin, and creates a passive income stream for years to come

Good luck!

TheBeardedBaby

legendary

Activity: 2240

Merit: 3150

₿uy / $ell ..oeleo ;(

I was thinking to give it a go back then but what I heard that you can invest BTC but you cannot withdraw BTC only fiat. That gave me a bit negative feeling. I see this etorro ads on YouTube all the time, start to be annoying

fudster

sr. member

Activity: 1190

Merit: 255

That's very convenient for you to copy trade of others, I just hope that the ones you pick to copy trades are the best ones not the ones deployed to make you lose. Does anyone you know who really do it and make it an auto-copy? Autocopy would define it to be passive income.

I didn't realize newbium still exists up to this day. They use to spam this forum back in the days like it competes steemit.

bitcoinisgreat

newbie

Activity: 20

Merit: 2

Thanks for the feedback. I have been doing some more digging, and this article states that it is possible to potentially earn a 10% profit monthly trading crypto by simply using eToro's' copy trade feature. ( see article: https://4king.com/easily-earn-10-profit-trading-crypto/ )

I think that I may give it a go, but it would be nice to get some insight from someone who has tried it previously!

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: Sadlife on April 29, 2020, 05:09:42 AM

Etoro's idea is good and quite unique especially when there's only a few people who knows it and use it. Im just curious how do you pick users to copy trade from do they show reputation status and how much is their services cost ?

Because even if i win a trade through copying, if the cost of their services cost a lot then there's nothing left to my profit.

There's a part of the app that let's you follow popular traders and view their trading history.
I think you just load up their page and hit copy.

Sadlife

sr. member

Activity: 1400

Merit: 269

Etoro's idea is good and quite unique especially when there's only a few people who knows it and use it. Im just curious how do you pick users to copy trade from do they show reputation status and how much is their services cost ?

Because even if i win a trade through copying, if the cost of their services cost a lot then there's nothing left to my profit.

ryzaadit

legendary

Activity: 2660

Merit: 1261

A service like this, just makes them a profit.

The reason was simply going you lose, they still get a profit since u paid them to makes some analysis for their customer. Went their customer was lost by using their analysis, you not getting any compensation about your loss but still keep to pay their service. That's would be the same as Robot & AI trading, went you still keep to paid them whatever the result loses or win.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: Stedsm on April 28, 2020, 01:18:42 PM

Copy trade cannot be favorable for you in either ways:

- When you start following and copying just one trader's trades and keep copying him/her only
- When you randomly hop over other traders seeing bad performance from a trader whose trades were copied by you

It's better to learn yourself and trade than to follow somebody because, when markets turn into opposite direction of the trade you are in, just because you copied somebody, it's nobody to blame but yourself that why did you copy at the first place.

Just let them be and its no surprise that there are really people who do really consider most of the time on copy trades or even bot trading because they arent really that serious on learning from themselves and
instead on making a manual trade.Self realizations would happen after such devastation or blown up account or funds along the way.We can somehow watch others trade but those are just good for for reference
not actually a dependable thing for you to follow them all the way.Easiest way on making profits with trading? Then this line you shouldnt easily to believe on.

Stedsm

legendary

Activity: 3052

Merit: 1273

Copy trade cannot be favorable for you in either ways:

- When you start following and copying just one trader's trades and keep copying him/her only
- When you randomly hop over other traders seeing bad performance from a trader whose trades were copied by you

It's better to learn yourself and trade than to follow somebody because, when markets turn into opposite direction of the trade you are in, just because you copied somebody, it's nobody to blame but yourself that why did you copy at the first place.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

I have an account with etoro and I'm not sure I like the idea of copy trading...

If a lot of people copy someone it gives all of you less of a chance of making anything, you also have to pay them and take their losses as well as profit...

Premium investors who manage hedge funds make about an average 20% annually (afaik) with a massive team. Some minor traders may do better since they don't have policies to follow to minimise risk but that might also be a negative...

bitcoinisgreat

newbie

Activity: 20

Merit: 2

Hey Guys,
I have been looking at creating a passive income for myself and it looks like eToros' copy trading could be my best option. Here is the article I read: https://coins.newbium.com/post/30512-the-easiest-way-for-new-traders-to-profit-from-the
What are your thoughts and experiences?

Also, I would love to know if anyone here copy trades and if not, would you?

Thank you in advance for your help!

Topic: New trader looking to profit from the crypto market - page 2. (Read 334 times)