Topic: Trading on your own vs social trading and copy trading (Read 1434 times)

Copy trading is certainly helpful most particularly if you copy trades from successful and professional traders. That way, you will also gain chances to succeed on your trades. But I don’t think you are giving yourself an edge on a long term basis. You should know that before you chose and decide to trade, you must have set your own goals in trading, established your skills and experience before you accept that risk.

Copy trading cannot guarantees all time profitability. So you should not rely on it but develop your own potentials and skills in trading so you can still trade successfully when those veteran traders are leaving already trading.

Newbie traders are always wanting to go with social media way of trading since that is where they were introduced. Some social media trading experts are very good, they are making it big because they are using different strategies and they learning well because they are public figures and will not want to make too much errors.
Some social media traders are scammers and have no experience about trading, they mostly copy and take pictures from successful traders to post in their pages just to gain much followers and people to scam which is very bad and that is the main reason we warn newbies to do extra research before jumping into any information they get from social media.

I'm not saying it's wrong, but in my opinion, It is learning that can make someone know that can direct someone to the right path. By studying someone can become educated, they can know a lot, but regarding skills, they need to practice their knowledge and try and continue to develop it. In trading, knowledge and practice sometimes do not align. Price volatility and changing trends mean traders have to adapt their strategies to market conditions, but in general the strategies learned can help.

I do not recommend copy trading to anyone despite the fact that some expert traders can give them returns. There is no guarantee they can get the profits we expect, so that option is too risky. Instead of copy trading, I agree with you that learning and trading independently is much better. Knowledge and experience can increase because of this, so a trader will not be dependent on other people.

Copy traders are not traders, they only entrust their budget to other traders who are more knowledgeable than them. The risk of loss and potential profit depends greatly on how the trader and strategy trades, but they are never responsible for losses even though the budget owner must share in the profits earned.

Im not saying that it would really be that a bad idea or option to take specially when you are just starting up, but if you are that someone whose really that liking or loving to learn about trading
then sticking with copy trading couldnt really be able to take you further in speaking about developing skills.Nothing beats out into those people who are really that doing thing manually.
If you have started on testing out on copy trading then it isnt bad but if you are really that trying out to become that good one, then you should really be able to check on how
those trades had been done or would be at least wary on whats happening behind so that you would really be having the idea on whats happening and not really just that
totally relying on automation.

Now the choices might vary from people to people I must say. If you are new to trading then trading with your own might take time to make profits. So at this time, the ideal thing will be to trade with popular traders. That is doing copy trading. Copy trading the exact amount and risk can help you to understand the market and it will also help you to make profits. Hence if you ask me then copy trading will be might top priority.

It's needed to have your separated analysis instead of blindly following someone's trading tips, it's best that you know what you are doing and you know how to select whatever asset you wanted to support, when doing your own analysis you will earn more knowledge and you keep all those ideas that you can establish to keep your trading in the positive side.

You can always use other's analysis as basis but not exactly copying them but to analyze the potential and what will be your action plans if incase things will not go according to your plan.

Doing the analysis for trading yourself will give you confidence in what your results might be. And you can estimate the profit potential of holding them without selling them. For this, if you can trade by yourself without the help or direction of others, you will get more fun and profit too.

If you trade by following the signals of professional traders you can get profit but you will not have confidence and on the other hand you will always be afraid. On the other hand, don't hesitate to panic sell if you miss the signal if the price of the token/coin you invested in drops. For this it is better to trade by yourself rather than following signals

Well if you want to engage on another trade then its good to have separate analysis  so that you can compare on which of these option is good since doing such experiment can ease out our doubts especially if we are so curious on which of these are profitable for us. But actually in long term if we are just relying on copy trading we are the one who's in trouble since we can't learn something with it and also there's huge chance for us to lose if the trader we follow commit bad trades.

Its not being lazy to participate on copy trading since you still need some effort to see if you are gaining what maybe we can point that it is if we are just doing nothing and leave the trader work for us since surely doesn't get anything from that since no experience can be learn with this.

Separate analysis is still a must when someone does copy trading. He'll get to see the idea on how the trader he's about to copy does.
It's not always on how easy it is but the stats that matter and possibly the picks that the traders that someone is going to copy like showing the style of his trading.
It's not lazy though when it's part of the feature of a platform but don't rely too much on them. Some treats it as a passive income but what happens if the trader you copy lost?

Knowledge will give birth to learning that is far more directed because with knowledge we can continue to practice skills. Finding true knowledge about trading might be achieved if they know professional trading and most people who share trading ways in video do not fully have a level of provisionality about trading. For this reason, there is a need for control and analysis regarding video -based learning because not all videos are distributed have similarities when someone is involved in real trade.

Without hard work we will not get anything because of speaking of consistency in finding complete sources of knowledge. Trading can be learned but people have difficulty finding accurate sources, unless they dare to pay mentors that are so experienced in trading.

When people intend to study trading, the steps that need to be taken on how to improve skills and not be advised to rely completely on copying trading even though some people consider this method to be easier. But back as you talked about that we put in money and follow fully a copy of trading sometimes it will not give any results. A separate analysis will be far more convincing and even though our loss can evaluate the cause and if we fully follow the trading patterns of people, in my opinion it is quite disadvantaged because our skills will never increase.

I think trading by yourself is the best way. You may be able to use other people's trading signals, but in the end you just depend on that person forever. Maybe there are also some people who share their trading signals for free, but I'm sure they're not serious. All he's offering is untested signals and he's testing them on you. If the signal results in a loss, will he be responsible?

Learn yourself with your hands, you will get honed skills. Even though you may lose a few dollars, the skills you gain cannot be replaced for anything else. Finally you will be proud of your work.

I agree.
The learning process from doing trades and doing these social trading and copy trading depends on the individual that are studying about it.
It might take a lot of time and money for someone who doesn't have a background but it could be less for those that are risk takers and have a background with them. People think that it's easy to do copy trading because you don't do anything but don't forget that the money is yours and your letting its fate depend on the trader you copy.

Over trading is not as a result of you trading all by yourself, probably the problem might be with your psychology, you need more lesson on trading psychology than just trading but then seems you choose to trade first rather than getting the required knowledge on psychology to be able to regulate your trading well enough, if those professionals you are looking to copy their trades or take their signals had stop trading because they think they are over  trading, where then are you going to get your signals from or who's trade are you copying, it's very important you work on yourself to be confident enough to generate your own signals and know when to trade and when not to trade

Trading is much better when you are in charge of all you do starting from your signals to you placing the trades and executing them, the more you do it yourself the more you get better at it but depending on others to trade makes you an amateur trader almost for ever.

it takes persistence to learn from someone. because it is possible that what other people share cannot be used by us and is not in accordance with our wishes. but it can be a consideration for developing our knowledge regarding trading.
if there are beginners in trading who are serious and diligent in learning trading analysis techniques. they can have many sources of knowledge, but in practice, they still have to find the most appropriate one for them to use.
it takes hard work, and it's not as easy as we think when we see people who are successful in making big profits in their trading.

I quite agree with your view because now we can learn a lot from social media and all we have to do is verify the accuracy of the information. It is true that not everything we follow from experts will be appropriate in trading and it is possible that what they do not explain will be encountered when we are directly involved in trading. But at least the general discussion about trading patterns has become a consideration and it will be discussed by everyone who understands trading.

We can improve our skills in trading by learning many things from other people and there is no need to limit ourselves to the many people who try to provide views on trading. The more we learn, the greater the opportunity to improve our skills and self-study, the better prepared we will be to face trading in any condition.

Nowadays most crypto exchanges offer Copy trading services, You can easily get copy trading services by creating an account and depositing some BTC/USDT. I am providing some top-rated exchange direct links for copy trading:

• https://www.binance.com/en/copy-trading
  https://www.bitget.com/en-GB/copy-trading/futures
  https://www.bybit.com/copyTrade/
  https://www.kucoin.com/trading-bot

From social media, we learn new ideas and from known trading experts, we also know strategies but having our own, we don't just learn but also find the truth about trading. And we found out that many things that haven't been mentioned and untold stories are we gonna experience in actual trading. That is why even if we follow those experts, there is no assurance for us to succeed because in every situation, they are not always there to guide us but it is just us to face alone and make the difficult decision. That is why we have to learn to become independent and accept the challenge because this is the only way to survive and reach our goal.

Experience is the best teacher, if you don't work it out by yourself and continue to rely on others to guide you in your trading, then you'll never build personal confidence, the important thing is to get the knowledge of fundamental and technical analysis first. Make your mistakes and learn from it, but always remember, especially for newbies to trade amount that you can afford to loose, in order to minimize loses. It's said that we should learn from other people's mistakes, but crypto trading is perculiar because despite your knowledge about trading, loses will still happen, so learn what you can from others and build your own trading parten

The more strategies we learn, the better it is because we will be faced with various events in trading so that we know a little more about options to avoid losses. Even though trading does not guarantee permanent integrity, at least we have the readiness to change our trading strategy if it is deemed unsuitable. However, separate analytical performance is still needed and we will be trained in sensitivity regarding the decision-making process and if not this will be very risky.

Trading is not easy to do and does not mean it is difficult to learn because the habits we do consistently will produce much better results. This does not only apply in trading but wherever these concepts and formulas apply, it depends on how each individual is able to handle them well and responsibly.

This is part of the process in my opinion, maybe it would be easier to copy trade, but as you said it is the same as giving us a fish that can only be for a day, whereas if we learn and develop our own strategy it will be useful as long as we want to trade.
Now the problem is that many people don't want to go through that process, in the sense that they just want to get something in an instant way. I don't deny that who doesn't want to get something instantly, but here I just want to say that it's better to go through all the processes so that we can develop even more, rather than producing something instantly but we feel it in a short time.