Topic: The down side of copy trading - page 3. (Read 306 times)
what platform are you using?
You will rarely find a trader who is profitable long term, if they are profitable long term then their profits arent as high as those traders which are high up on the charts.
What they basically do is have a good week or good month and it hooks people to copy them so they can get some commission back. But eventually what happens is, they will take one trade which will go against them too far and their entire account will get liquidated.
Most trade with small amounts anyways, so if they blow up their account they dont care but the people who copy them will face huge losses. I would avoid copy trading at all costs.
What they basically do is have a good week or good month and it hooks people to copy them so they can get some commission back. But eventually what happens is, they will take one trade which will go against them too far and their entire account will get liquidated.
Most trade with small amounts anyways, so if they blow up their account they dont care but the people who copy them will face huge losses. I would avoid copy trading at all costs.
I just decided to visit copy trading today again. I went through some traders that are copied. I saw the people that are copying them.
The first person that I checked that has opened a position for 90 days is making money. Some people that copied him is making money also but some people are losing money while copy him. There are people that copied him but make no money but not losing yet at the time I snapped this.
This is just like 5% of people that copied him. I snapped the people from the top which gained most. I scrolled down to snap people from the down part which are the people that are losing most.
What lesson can you pick from this?
1. If the person just started trading, you will not know if you should copy him or not
2. If the person is making profit already and you copy him, you might be losing
Know that the person you copied might be losing.
The first person that I checked that has opened a position for 90 days is making money. Some people that copied him is making money also but some people are losing money while copy him. There are people that copied him but make no money but not losing yet at the time I snapped this.
This is just like 5% of people that copied him. I snapped the people from the top which gained most. I scrolled down to snap people from the down part which are the people that are losing most.
What lesson can you pick from this?
1. If the person just started trading, you will not know if you should copy him or not
2. If the person is making profit already and you copy him, you might be losing
Know that the person you copied might be losing.
Jump to: