Software That Copy Trades | Bitcointalksearch.org

Nellayar

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Quote from: so98nn on November 08, 2020, 11:58:51 PM

Quote from: mk4 on November 08, 2020, 10:40:50 PM

You really can't simply copy other people's trades just by having certain software, you'd need to have access to their trading API too(which most people would definitely not publicize).

Instead, you can use platforms like eToro that already has the copy-trading feature. Wouldn't really recommend though, but you do you.

eToro is devil site I believe. It's seriously unethical to copy paste the trade and work out the math in the trading world.

It destroys the volume in multiple ways, or the way the market is moving gets disturbed. I consider it more or less similar to group pumping and dumping of the share market.

It's better to go with your own strategic planning.

I never used eToro yet but as I can those who are promoting eToro, they publicise their account so that others can copy their trades. I think the problem with copying trades is that, we have no assurance if that certain account we copy is the main trading account or just his smurf account. You can copy their trades but you don't know when they gonna sell some positions. It's been unethical since we can't guarantee how much accurate the copy trading is. Besides liquidity is a bigger problem for copy trading.

Silberman

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Quote from: CryptocurencyKing on November 09, 2020, 04:23:49 PM

I still don't understand what OP means by copying trades or of what use or importance it could be. I'm already seeing people talking about a devil app e-toro and sadly, I've not heard of it so,, it would be a nice time for some education should someone be so kind to educate.

But then, why should some one copy another users trade? I really need to get this as it doesn't make sense to me yet. Working in some other traders shoes can be a dangerous endevour as you can't tell how he or she manages where and when it hurts. You are your own better if you choose improvement through learning.

The concept is simple, a person wants to make money on the markets but does not know how to trade so the exchange offers them the ability to copy the trades of other traders that supposedly know what they are doing, this way they bring more volume to their exchange and they get more commissions, the person that does not know how to trade believe this is his way to easy riches as he only needs to set his account and let someone else trade for them without the money leaving their account, it seems like the perfect deal except that it is not.

Why is this a bad idea? Because traditionally if you want a money manger trading for you then you will interview them and see which one is the best for you and your expectations but in this case you will not know anything about the trader, his strategy or his profitability.

BuNga_cute

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If you are looking for platforms that support copy trade features, I recommend using eToro. But copy trading is only good for short-term,
if you are trading in the long term it is very risky. Because you lose control when trading, and expect a third party to arrange your trading
strategy. Copy trading also will not improve your trading skills, there is a fee you have to pay for copy trading after all. My advice is the trading
manual is better, indeed at first you find it difficult to determine a good strategy. But your trading experience and skills are growing. Then you
can get a bigger profit than using copy trade platforms.

cryptolord2077

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Quote from: Lorence.xD on November 09, 2020, 02:28:54 AM

It will be a boring way to trade your funds because there is no challenge and the risk is higher because you are not in control of the trade, the person you are following might fucked up one day and down your trade goes. I do not know that much software that copy other traders, eToro is already mentioned and by far that is the most known.

In this case, investing can also be called boring, but a lot of people make money on it.
Copying trades is very similar to trust management, with the exception that you do not give your funds to anyone else.
But on the other hand, we can say that your funds are controlled by another person, a third party. Here you must decide for yourself whether you are ready to take such a risk.

wunderbit

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here is another great copy-trading platform https://trading.wunderbit.co/en

Ucy

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Compare rates on different exchanges & swap.

Quote from: so98nn on November 08, 2020, 11:58:51 PM

Quote from: mk4 on November 08, 2020, 10:40:50 PM

You really can't simply copy other people's trades just by having certain software, you'd need to have access to their trading API too(which most people would definitely not publicize).

Instead, you can use platforms like eToro that already has the copy-trading feature. Wouldn't really recommend though, but you do you.

eToro is devil site I believe. It's seriously unethical to copy paste the trade and work out the math in the trading world.

I wonder why you think so? Is it due to the two horns, or they do things that are really bad/unethical? Wish you could make this abit clear.

Quote from: so98nn on November 08, 2020, 11:58:51 PM

It destroys the volume in multiple ways, or the way the market is moving gets disturbed. I consider it more or less similar to group pumping and dumping of the share market.

Really interesting. I suspect that traders who aren't that good in trading could move the market in the direction they want if people with lots of funds are copying their trades. I guess if you have many services offering the copy trade, then the market will be hard for one to move

cheecko1122

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Quote from: Newchanka on November 08, 2020, 06:07:16 PM

Are there any software out there that can be used to copy the trades of others? [Edit] I mean software that copy forex, stock and CFDs not just crypto. Please which do you know?

There are many softwares of copy trade, but i think we dont need install from the internet directly because many of them are scam and with virus as well which only can harm our computer. Do research and contact any good developer or trader who can provide you the product as per your need and you can learn from them as well.

New.in.trading

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Honestly, I would keep away from every single copy trading scheme out there. No matter if it's for Eur Usd or for BTC USD or whatever. Why would I advise everyone to stay away? Because you never know who you are copying. Is it only one person? is it a group of traders? do they have a risk and money management? Are they all healthy, or are they sick when trading? Sober or drunk? can you really understand their process behind their trades?

And most important: Why do others want you, to join their copy trading thing? -> they earn commissions for every trade placed and referred to them.

They don't want you to become financially free. The best result for them is when they have 10 trades around break-even, and then one with a small gain. This way, you would not stop copying them, but more than likely leave your account like it is. Maybe even tell your friends about it. As long as you don't start to lose, and sometimes even win some, they can earn from the commissions.

So their only goal is: Get as many people to join their "Get rich quick and easy" scheme, so they can earn those commissions.

If you want to learn how to trade as someone else does, that is a whole different story and I would encourage you to do so, after observing this person for quite a bit!

farrellronald

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whatever you are trying to do, I trully recommend not to do it. However, if you are trying to copy others way of trading, this is different. recently we have been working on an AI that may do what you want but it is still in progress, if you are keen on hearing from it, keep in touch.

Emitdama

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Quote from: Newchanka on November 08, 2020, 06:07:16 PM

Are there any software out there that can be used to copy the trades of others? [Edit] I mean software that copy forex, stock and CFDs not just crypto. Please which do you know?

What exactly do you want to be doing? If you want to be trading forex, then you should make use of forex trading platforms. There is eToro and they have had this particular feature of copy trading for years now and traders who are still inexperienced are allowed to copy other traders who are well experienced, and they even created an app for this particular purpose that you can find app stores.

I don’t know about other forex trading websites whether they are offering such service or there are any software that will let you do that on them. Then as for crypto trading, I don’t know much except Covesting.io (I haven’t tried this one, so do your research) that partners with PrimeXBT.

Jating

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Quote from: Lorence.xD on November 09, 2020, 02:28:54 AM

It will be a boring way to trade your funds because there is no challenge and the risk is higher because you are not in control of the trade, the person you are following might fucked up one day and down your trade goes. I do not know that much software that copy other traders, eToro is already mentioned and by far that is the most known.

Besides that, you will need to pay a certain fee to the person that you are going to copy his trades. So the more you invest, the higher you gonna pay, like a royalty or something. For others they can save a lot of time and used the time that they are supposedly allotted for crypto trading in other productive means. But for most of us, we wanted to do first hand our crypto trading, if you are a beginner then it will be a tall order. But you will gain that needed experience that will help you become a successful crypto trader.

If the OP wants to find it more about this supposedly copy trading from E-toro: https://www.etoro.com/copytrader/how-it-works/

ReiMomo

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Quote from: HedgeFx on November 09, 2020, 12:12:08 PM

Etoro have high fee and require KYC. Not better option for someone who want to trade CFD & Forex with crypto. Embarrassed

I won't even recommend this because I read somewhere else that they had different issues in solving the withdrawals.

If you don't have yet enough skills in trading, please don't be in a hurry. Do research all information related to trading strategies before you will start. I don't know how profitable copy trading is but it seems that is still risky at all. Why not choose manual trading instead of seeking copy trading.

As far as I know, the latest exchange announced that they had using bot API for trading.

Danslip

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Leading Crypto Sports Betting & Casino Platform

Quote from: CryptocurencyKing on November 09, 2020, 04:23:49 PM

I still don't understand what OP means by copying trades or of what use or importance it could be. I'm already seeing people talking about a devil app e-toro and sadly, I've not heard of it so,, it would be a nice time for some education should someone be so kind to educate.

Keep it simple: Trader A opens a buy order for Eur/Usd order and the Metatrader platform sends the same data to the server which Trader B uses as the source for opening a new trade. Whatever trades are done on the first side, the same steps will be repeated for another side. Kinda mirror trading but a bit more complicated.

CryptocurencyKing

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I still don't understand what OP means by copying trades or of what use or importance it could be. I'm already seeing people talking about a devil app e-toro and sadly, I've not heard of it so,, it would be a nice time for some education should someone be so kind to educate.

But then, why should some one copy another users trade? I really need to get this as it doesn't make sense to me yet. Working in some other traders shoes can be a dangerous endevour as you can't tell how he or she manages where and when it hurts. You are your own better if you choose improvement through learning.

Silberman

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Quote from: Lorence.xD on November 09, 2020, 02:28:54 AM

It will be a boring way to trade your funds because there is no challenge and the risk is higher because you are not in control of the trade, the person you are following might fucked up one day and down your trade goes. I do not know that much software that copy other traders, eToro is already mentioned and by far that is the most known.

Whether a trading system is boring or fun should not be a factor to consider, all what matters is if it is effective and it is obvious that trying to copy the way someone else trades is not a good idea, assuming the person you are copying knows what he is doing the person that is just mimicking the trades of others does not really know what he is doing and while this may seem like a small difference it is not, besides even if a person were to find a trader that is actually profitable what he will do once that trader decides to switch platforms or to no longer make his trading history visible? As such it is better that people learn how to trade by themselves and if they cannot do it then they need to become holders or just accept they cannot earn money in the markets.

drlukacs

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Quote from: Newchanka on November 08, 2020, 06:07:16 PM

Are there any software out there that can be used to copy the trades of others? [Edit] I mean software that copy forex, stock and CFDs not just crypto. Please which do you know?

I have only been trading in the Crypto market so far and have not found any software that automatically copies other people's trades.
In addition, you also need to have an account on each platform that you want to copy trade with someone there. therefore, certainly no software can do that automatically.
So you can only use the copy trade function at the exchange itself. But it is also quite rare for centralized financial markets, probably only Etoro, Exness.

beerlover

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Shrimpy I think does this. I don't know who you copy in that situation but I think they have a lot of stuff that allows you to constantly change your positions, if you go to their website and check them out I think you could find something you may like. Obviously there is no trading bot or anything similar in the entire world that would do exactly without any budge the thing you want, because usually we humans do not really know what we want until we get it and that is why bots will always lack one thing, sometimes big sometimes small but there is always one thing even if it s very tiny.

So check all the ones suggested here, I would suggest shrimpy because they are high end and very good project that has been around for a very long time and have been making a great income for many, but I can't guarantee you will find what you are looking for in there.

ChrisPop

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If you want to create a platform with a copy-trading feature like eToro I think you're better off employing an in-house developer(s). If you don't have the money to hire someone, you don't have a place in the brokerage industry.

Personally I am not aware of any whitelabel software that enables you to copy other traders by linking their accounts, but if you are simply looking to copy other people's trades eToro might be the perfect space for you.

HedgeFx

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Etoro have high fee and require KYC. Not better option for someone who want to trade CFD & Forex with crypto. Embarrassed

sheenshane

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Quote from: Lakai01 on November 09, 2020, 11:56:58 AM

Quote from: mk4 on November 09, 2020, 12:21:13 AM

-snip-
eToro's trading volume with stocks and crypto as a whole is only minuscule; and no one is being forced to copy-trade on eToro. It's just an option.

I agree. I think eToro is exactly what the OP asked for. You can not only copy (known) traders in crypto markets but also in classic markets like currencies and stocks.

I tend to agree with you both that using the e-Toro exchange platform for copy trading is the best choice.

This trading platform is good for social traders, it means that they are new in trading that didn't have much experience in trading. Through the feature that E-Toro has, copy trading is very suitable for beginners who want to learn in trading. But there's a disadvantage using this exchange, the forex fees are very high and the $5 for the withdrawal fee is very slow. However, there's a minimum before you can start to trade there if you have $200 that willing to risk, you can start trading.

Topic: Software That Copy Trades (Read 323 times)