Trading on your own vs social trading and copy trading - page 6.

HONDACD125

sr. member

Activity: 336

Merit: 292

Quote from: Lanatsa on October 13, 2023, 01:51:37 PM

Quote from: HONDACD125 on October 13, 2023, 12:49:36 PM

Quote from: tjtonmoy on October 13, 2023, 10:19:24 AM

What are you so obsessed with signals? I have seen your other post about crypto signals and now you were talking about copy trading and using signals. Trading on your own is the best thing that you could do. If you make mistakes, that's okay. We are human after all, we all make mistakes. But that doesn't mean we'll keep on doing it. Those who are professional traders and successful ones have made mistakes in their past two. But they were able to overcome those mistakes and fix them. And that is the reason why they are successful today. But if you want to become like them, you should never follow their present life when they are successful. You need to suffer and understand and gain experience from them.
If you are stuck at some place and couldn't get out and you need help, then you can use signals in order to find your mistakes. But not just any signals, a signal where it is all explained why the market is moving this way. So you can compare it with your own analysis then find your mistake and fix it. That's how a signal should be used, not the other way around.

Due to lack of experience many people rely on copy trading or signal trading. Most of them are newbies, who gain experience after learning they prefer trading over their analysis. Trading by yourself is best, but trading is a risky platform, trading without experience and knowledge can be very harmful.Trading is a tough job and should not be taken lightly.Of course, man learns from mistakes, and experience is strong, but that doesn't mean you should waste your capital by making mistakes.

So newbies should start trading with a demo account first, and after gaining some experience can start trading with a small amount, so that there is no chance of losing much in case of mistakes. People who always rely on other people's signals can never learn to trade on their own. If interested and put in hard work, anyone can earn good profits from their analysis after good experience.

You would really be going for the most easiest and most comfortable way or path specially if you are really just that starting with trading and this is something that the main thing that you would really be having in mind. You would really be doing this stuff but later on you would really be able to realize that its never been that beneficial for you on long term because you wont really be learning any skills. Yes, you might really be able to get some profits if those people you had followed but we know that its not really that something that could last forever or would really be coming into a point that you might really be that experiencing losing trades and this is where realization would kick in and you would really be having thoughts that you should really be learning on your own.

If you are really that just that satisfied with those social trading or copy trading then its your choice but sooner or later you would really be able to see that its not really
something that progressive which we know that it would really be just that right that its better to learn on your own so that it would really be makingyourself that
be that independent on the time that those people you do follow would stop on having those kind of following.

My point is not at all that no one should try to learn by themselves, but copy trading is a good option for people who are new, because if new people start trading without learning, they are sure to lose. So along with learning they will also be able to earn good profits through copy trading. I never advocate social trading or copy trading for long term, but I am also not in favor of completely ignoring social trading and copy trading.

If newbies or those who are too busy or lack experience, if there is a good option to earn profit from the crypto currency market or different exchanges or anywhere, they should definitely take advantage of it. We trade in the market so that we can make a profit, whether it is from self-learning or from someone else's methods.

slaman29

legendary

Activity: 2632

Merit: 1212

Livecasino, 20% cashback, no fuss payouts.

Quote from: tygeade on October 14, 2023, 11:28:49 AM

This is why you should always make your own trades, that would mean that if you lose money then you are losing your own money and you would rather not lose it so you would have an incentive to not do that. This makes you a lot better with your money than them.

Well, my point was more like trading itself is a high risk gamble, for majority of people because of their behavior that reflects risk taking with TA just "confirming" their gamble. So avoid trading as a way to make money. All stats show high majority lose money, so social and copy trading doesn't reduce that stat. Makes it even worse.

The real help is to make people aware of this.

xzy887

member

Activity: 307

Merit: 42

Quote from: david678345 on October 04, 2023, 04:53:27 PM

I think that by trading on my own I am just overtrading...I am looking for options to get trading ideas/trading signals etc to analyze those ideas and select only the best ones.

You can definitely take help or signals from someone with higher knowledge than you for trading. But better and more important thing is to have your own experience to trade. Otherwise you will not be able to survive in the trade for long. If you are a newbie then you should take signals from others and at the same time try to learn yourself.

Quote from: david678345 on October 04, 2023, 04:53:27 PM

What options does one have to view trading ideas/signals from other professional traders?

There are many ways to get a signal. Telegram bot is one of them. You can also receive signal from there if you want.

Silberman

legendary

Activity: 2492

Merit: 1332

Quote from: AicecreaME on October 14, 2023, 01:59:52 PM

Trading your own is much challenging and the most satisfying in the long run. Because once you reached the point where you are making profits most of the time in trading, like big profits, you'll look back and will say that you've grown as a trader and as a person. Trading is a very risky career but it is very rewarding as well as long as you're going to be consistent and dedicated about it.

It is true that this is the best way to go about it, however not many traders can reach that success, in fact due to the very nature of trading those traders have to be a minority, as all traders are competing against each other while they have to pay all kinds of fees and taxes, as such it makes sense we have so many people looking for alternatives because they know they cannot reach that success, however if trading on your own is hard, finding someone else to do it for you and avoid being scammed is even harder.

Magic-Maker-40

jr. member

Activity: 40

Merit: 15

Quote from: david678345 on October 04, 2023, 04:53:27 PM

I think that by trading on my own I am just overtrading...I am looking for options to get trading ideas/trading signals etc to analyze those ideas and select only the best ones.
What options does one have to view trading ideas/signals from other professional traders?

bro that depend on you to do your trading or to follow other social media trader if you are new and want to start trading then I think your first priority is how the market act in different situations and start with the small investment because if you start with the huge amount if your trade is successful then you say it's so easy and want to do it again and again, But if you lose is on first trane then you say OMG what is this happened with me that's why I am saying that before start trading we need to learn about trading and I suggest you to must try a demo account first.

AicecreaME

sr. member

Activity: 2324

Merit: 454

Trading your own is much challenging and the most satisfying in the long run. Because once you reached the point where you are making profits most of the time in trading, like big profits, you'll look back and will say that you've grown as a trader and as a person. Trading is a very risky career but it is very rewarding as well as long as you're going to be consistent and dedicated about it.

kingvirtus09

full member

Activity: 770

Merit: 106

Quote from: david678345 on October 04, 2023, 04:53:27 PM

I think that by trading on my own I am just overtrading...I am looking for options to get trading ideas/trading signals etc to analyze those ideas and select only the best ones.
What options does one have to view trading ideas/signals from other professional traders?

To be quite honest, I feel curious to try copy trading. especially because I saw there was copy trading on Binance before I realized it would be beneficial to investigate this extra source of revenue.

Just make sure the copy we are using has a strong setup. Check to verify if there are actually earnings coming in first. In addition, I noticed that copy trading may be used with our regular exchange deals.

DVlog

full member

Activity: 476

Merit: 212

Tontogether | Save Smart & Win Big

The preference will be different from person to person. If you are good enough to do your own trading then you can earn by letting others copy your trading. But you are not good and don't have time to do that copy trading is for you. This can be highly risky, but if you can trust your trader, you are good to go. Although trading with your knowledge can help you improve it, if the only thing that matters for you is profit, stick with copy trading.

tygeade

legendary

Activity: 2086

Merit: 1058

Quote from: Kasabus on October 12, 2023, 10:12:02 AM

Quote from: slaman29 on October 12, 2023, 06:20:51 AM

Quote from: Silberman on October 12, 2023, 05:59:12 AM

There is technically a way to make money using the knowledge of other people, but for that you will need to hire a financial manager and to let them have access to a portion of your capital so they can trade and invest in your behalf, however those people are not going to waste their time posting their results in social media and faking their results like influencers do, but very rarely people think about financial managers when they express their desire to to follow the ideas or signals of someone else, and instead they think about schemes that are managed by scammers.

Short to say, there's no easy way, like the old saying goes, if it's too good to be true, it's too good to be true. That especially happens in wealth management and trading.

Warren Buffett and others make money from other people's work not knowledge, this is what people got wrong.

If your financial manager knows more than you, or if you think he does, then he's making money from you, not the other way round

This is true. You are not actually making profits by hiring a financial manager. In fact, you are the one allowing him to make money from you, and not that you are the one benefiting from him. That is why if you just enter trading and rely the success of your trades from the other trader's work, then you are not actually becoming a successful and profitable one. Instead, you become an instrument for their own success, while leaving yourself at loss.

This is true, you shouldn't trust someone else's smart if it's your money that is on the line and not theirs. Why would they feel any fear, they are using your money, so they could do whatever they want with it, if they are right they will make a profit and if the yare wrong they will lose money. That's as simple as it gets, and they do not have any incentive not to lose any money, not like if they lose money they have to pay it out of pocket, they are not putting anything on the table.

This is why you should always make your own trades, that would mean that if you lose money then you are losing your own money and you would rather not lose it so you would have an incentive to not do that. This makes you a lot better with your money than them.

Best-mary

jr. member

Activity: 238

Merit: 7

BTC Lover|Crypto Educator| We Grow by Learning!

Quote from: david678345 on October 04, 2023, 04:53:27 PM

I think that by trading on my own I am just overtrading...I am looking for options to get trading ideas/trading signals etc to analyze those ideas and select only the best ones.
What options does one have to view trading ideas/signals from other professional traders?

Trading on your own is good but if you feel you need more guidance and looking at different strategies you could hone to achieve this then you can try this copy trading platform reviewed by Coin Bureau
https://www.coinbureau.com/review/bitget-copy-trading-review/

Adams0001

full member

Activity: 434

Merit: 152

Quote from: david678345 on October 04, 2023, 04:53:27 PM

I think that by trading on my own I am just overtrading...I am looking for options to get trading ideas/trading signals etc to analyze those ideas and select only the best ones.
What options does one have to view trading ideas/signals from other professional traders?

Trading on your own is the best option, because you will gain more knowledge on it anytime you trade you will getting more experienced, That is why before you start trading, you should understand the market and gain knowledge on it If you are giving someone to trade for you, that means you didn't learn about it and if you are afraid of losing money, the person you give to trade for you can lose at any time because you cannot profit at any time, That is why they say if you want to start trading use money you can afford to lose, even professionals lose money from time to time. It is better to gain experience and knowledge on your own rather than using a trading bot or other trading tool Any investment or trading is all about risk and if you can't take the risk, you won't get the reward, Trading can bring in a lot of money but you must work hard to get the ideas and knowledge before you can get the reward.

tjtonmoy

sr. member

Activity: 1008

Merit: 366

Quote from: HONDACD125 on October 13, 2023, 12:49:36 PM

People who always rely on other people's signals can never learn to trade on their own. If interested and put in hard work, anyone can earn good profits from their analysis after good experience.

I do agree that people using signals can never be as good as people who are doing their trading on their own. Trial and error is the best way to learn about something and that experience will stay with you for longer period of time. But I am somewhat against using demo account. If you waste a little bit of your asset for learning then I don't think that is a waste. People have been studying for years and years and paying their money for the education. Learning trading is something similar to that. You were gaining knowledge but you want the real experience not something that comes from a demo account. Demo accounts give you demo experience and real money gives you real experience.
If you want to choose the best then there's nothing except for using real money to gain that experience. Emotion control, precise market analysis, learning to lose, these all experience comes from using real money. Demo account will never be able to do that. Use little amount for your learning. Even if the amount is small the experience stays the same. So I don't think using real money is a waste and using demo account is a good idea. Do your own research.

Renampun

sr. member

Activity: 2044

Merit: 329

★Bitvest.io★ Play Plinko or Invest!

Quote from: Oshosondy on October 04, 2023, 05:17:30 PM

Quote from: david678345 on October 04, 2023, 04:53:27 PM

I think that by trading on my own I am just overtrading...I am looking for options to get trading ideas/trading signals etc to analyze those ideas and select only the best ones.
What options does one have to view trading ideas/signals from other professional traders?

Trading on your own is the best but you can try signals and see how they only care about their pockets. That would be when you will realized that there is nothing better than to have the knowledge and experience about how to trade on your own. But it is important for you not to use more than the amount of money that you can not afford to lose to trade.

That's right, to reduce the possibility of dependence on other traders or trading bots, trading with your own mind is the wisest thing, it doesn't take long to be able to do that, it takes a lot of struggle and experimentation, but rest assured that when you are able to trade independently, the benefits will be great. you will get extraordinary results, your instincts on trading will wake up and you will be able to solve the problems you face easily and without taking a long time.

Fredomago

legendary

Activity: 2954

Merit: 1050

Leading Crypto Sports Betting & Casino Platform

Quote from: HONDACD125 on October 13, 2023, 12:49:36 PM

Quote from: tjtonmoy on October 13, 2023, 10:19:24 AM

What are you so obsessed with signals? I have seen your other post about crypto signals and now you were talking about copy trading and using signals. Trading on your own is the best thing that you could do. If you make mistakes, that's okay. We are human after all, we all make mistakes. But that doesn't mean we'll keep on doing it. Those who are professional traders and successful ones have made mistakes in their past two. But they were able to overcome those mistakes and fix them. And that is the reason why they are successful today. But if you want to become like them, you should never follow their present life when they are successful. You need to suffer and understand and gain experience from them.
If you are stuck at some place and couldn't get out and you need help, then you can use signals in order to find your mistakes. But not just any signals, a signal where it is all explained why the market is moving this way. So you can compare it with your own analysis then find your mistake and fix it. That's how a signal should be used, not the other way around.

Due to lack of experience many people rely on copy trading or signal trading. Most of them are newbies, who gain experience after learning they prefer trading over their analysis. Trading by yourself is best, but trading is a risky platform, trading without experience and knowledge can be very harmful.Trading is a tough job and should not be taken lightly.Of course, man learns from mistakes, and experience is strong, but that doesn't mean you should waste your capital by making mistakes.

So newbies should start trading with a demo account first, and after gaining some experience can start trading with a small amount, so that there is no chance of losing much in case of mistakes. People who always rely on other people's signals can never learn to trade on their own. If interested and put in hard work, anyone can earn good profits from their analysis after good experience.

Copy trading is not safe for newbie, as those who so-called experts always have their strategy and if things won't favor them, they will use alternative options while those who copy don't have that kind of alternative, they will lose as fear will dominate and without knowledge they will allow it to happen.

Unlike with good knowledge about trading, you know the basic and you know the cycle, you can either wait and hold or sell and re-try your entry point to recover, all is about your understanding and knowledge about the system and how it works to find a favorable position.

Lanatsa

hero member

Activity: 2786

Merit: 646

Quote from: HONDACD125 on October 13, 2023, 12:49:36 PM

Quote from: tjtonmoy on October 13, 2023, 10:19:24 AM

What are you so obsessed with signals? I have seen your other post about crypto signals and now you were talking about copy trading and using signals. Trading on your own is the best thing that you could do. If you make mistakes, that's okay. We are human after all, we all make mistakes. But that doesn't mean we'll keep on doing it. Those who are professional traders and successful ones have made mistakes in their past two. But they were able to overcome those mistakes and fix them. And that is the reason why they are successful today. But if you want to become like them, you should never follow their present life when they are successful. You need to suffer and understand and gain experience from them.
If you are stuck at some place and couldn't get out and you need help, then you can use signals in order to find your mistakes. But not just any signals, a signal where it is all explained why the market is moving this way. So you can compare it with your own analysis then find your mistake and fix it. That's how a signal should be used, not the other way around.

Due to lack of experience many people rely on copy trading or signal trading. Most of them are newbies, who gain experience after learning they prefer trading over their analysis. Trading by yourself is best, but trading is a risky platform, trading without experience and knowledge can be very harmful.Trading is a tough job and should not be taken lightly.Of course, man learns from mistakes, and experience is strong, but that doesn't mean you should waste your capital by making mistakes.

So newbies should start trading with a demo account first, and after gaining some experience can start trading with a small amount, so that there is no chance of losing much in case of mistakes. People who always rely on other people's signals can never learn to trade on their own. If interested and put in hard work, anyone can earn good profits from their analysis after good experience.

You would really be going for the most easiest and most comfortable way or path specially if you are really just that starting with trading and this is something that the main thing that you would really be having in mind. You would really be doing this stuff but later on you would really be able to realize that its never been that beneficial for you on long term because you wont really be learning any skills. Yes, you might really be able to get some profits if those people you had followed but we know that its not really that something that could last forever or would really be coming into a point that you might really be that experiencing losing trades and this is where realization would kick in and you would really be having thoughts that you should really be learning on your own.

If you are really that just that satisfied with those social trading or copy trading then its your choice but sooner or later you would really be able to see that its not really
something that progressive which we know that it would really be just that right that its better to learn on your own so that it would really be makingyourself that
be that independent on the time that those people you do follow would stop on having those kind of following.

HONDACD125

sr. member

Activity: 336

Merit: 292

Quote from: tjtonmoy on October 13, 2023, 10:19:24 AM

What are you so obsessed with signals? I have seen your other post about crypto signals and now you were talking about copy trading and using signals. Trading on your own is the best thing that you could do. If you make mistakes, that's okay. We are human after all, we all make mistakes. But that doesn't mean we'll keep on doing it. Those who are professional traders and successful ones have made mistakes in their past two. But they were able to overcome those mistakes and fix them. And that is the reason why they are successful today. But if you want to become like them, you should never follow their present life when they are successful. You need to suffer and understand and gain experience from them.
If you are stuck at some place and couldn't get out and you need help, then you can use signals in order to find your mistakes. But not just any signals, a signal where it is all explained why the market is moving this way. So you can compare it with your own analysis then find your mistake and fix it. That's how a signal should be used, not the other way around.

Due to lack of experience many people rely on copy trading or signal trading. Most of them are newbies, who gain experience after learning they prefer trading over their analysis. Trading by yourself is best, but trading is a risky platform, trading without experience and knowledge can be very harmful.Trading is a tough job and should not be taken lightly.Of course, man learns from mistakes, and experience is strong, but that doesn't mean you should waste your capital by making mistakes.

So newbies should start trading with a demo account first, and after gaining some experience can start trading with a small amount, so that there is no chance of losing much in case of mistakes. People who always rely on other people's signals can never learn to trade on their own. If interested and put in hard work, anyone can earn good profits from their analysis after good experience.

tjtonmoy

sr. member

Activity: 1008

Merit: 366

What are you so obsessed with signals? I have seen your other post about crypto signals and now you were talking about copy trading and using signals. Trading on your own is the best thing that you could do. If you make mistakes, that's okay. We are human after all, we all make mistakes. But that doesn't mean we'll keep on doing it. Those who are professional traders and successful ones have made mistakes in their past two. But they were able to overcome those mistakes and fix them. And that is the reason why they are successful today. But if you want to become like them, you should never follow their present life when they are successful. You need to suffer and understand and gain experience from them.
If you are stuck at some place and couldn't get out and you need help, then you can use signals in order to find your mistakes. But not just any signals, a signal where it is all explained why the market is moving this way. So you can compare it with your own analysis then find your mistake and fix it. That's how a signal should be used, not the other way around.

slaman29

legendary

Activity: 2632

Merit: 1212

Livecasino, 20% cashback, no fuss payouts.

Quote from: Kasabus on October 12, 2023, 10:12:02 AM

Quote from: slaman29 on October 12, 2023, 06:20:51 AM

If your financial manager knows more than you, or if you think he does, then he's making money from you, not the other way round

This is true. You are not actually making profits by hiring a financial manager. In fact, you are the one allowing him to make money from you, and not that you are the one benefiting from him. That is why if you just enter trading and rely the success of your trades from the other trader's work, then you are not actually becoming a successful and profitable one. Instead, you become an instrument for their own success, while leaving yourself at loss.

I just wish people stop seeing trading as money making, with "secrets" and shortcuts. I know it's not popular but I also wish people start understanding that majority opinion and the way crypto trading is done more closely resembles gambling, but at a faster pace than traditional gambling. High risk low reward ROI.

Like gambling, if you follow strategies, and believe they make you profit, you're in for a bad time Wink

Nothing replaces real skill, with real knowledge, for real jobs.

goaldigger

sr. member

Activity: 2310

Merit: 355

Quote from: david678345 on October 04, 2023, 04:53:27 PM

I think that by trading on my own I am just overtrading...I am looking for options to get trading ideas/trading signals etc to analyze those ideas and select only the best ones.
What options does one have to view trading ideas/signals from other professional traders?

Binance already launched their copy trading option and you can have this for now while you are boosting your weakness in trading. It’s good to actually see your mistakes while doing your trade since you can improve it and you should focus on this if you really want to learn more and be more professional in trading. Copy trading can be more safe if you are on a good site, I just don’t suggest this for long term trading because trading on your own is still my ideal type of a trader.

Stable090

sr. member

Activity: 630

Merit: 420

Quote from: david678345 on October 04, 2023, 04:53:27 PM

I think that by trading on my own I am just overtrading...I am looking for options to get trading ideas/trading signals etc to analyze those ideas and select only the best ones.
What options does one have to view trading ideas/signals from other professional traders?

As a trader, you already discovered your weak point, the next thing to do is to work on it. Looking for signals is not the best option, it’s better you do the trading yourself and don’t look for copy trading or trading signals. Instead of looking for signals, you can meet with people to improve your trading strategy, make amendments anywhere you know you are having problems, and if you learn to trade yourself, you will never depend on anybody. A signal provider can stop providing signals at any moment. Does that mean you wont be trading again? But when you have the knowledge, you can choose to trade whenever you like, and you can rest whenever you wish.

Topic: Trading on your own vs social trading and copy trading - page 6. (Read 1336 times)