Trading on your own vs social trading and copy trading - page 8.

Mauser

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Quote from: david678345 on October 04, 2023, 03:53:27 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?

It's always better to discuss your trades with other. Only by talking about it it's already another form of thinking about your strategies. During a discussion we can be challenged about things that we haven't thought about ourselves, or just get another point of view. As long as there is trust and we can be fully open I think that it's helpful to engage with others about our trades. From your question I get now that you are looking for trading signals. Are you also using them yourselves? It's hard to find professional traders that are willing to share their trades for free. If you don't offer research or analysis on your own than it would a very one sided relationship. There are some telegram groups that share trading signals, but you will have to pay some money to join the professional ones. This however is still not a guarantee to make a lot of money of these trading signals. It's hard to trust someone you don't know blindly, I would recommend you try some new strategies first in a demo account without using real money. After testing and finding out that the strategies work you can still add large amounts of money.

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Quote from: david678345 on October 04, 2023, 03:53:27 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?

Actually from my perspective engaging in trading signals is quite good because it will enables you to be updated concerning trading but the problem is that signal groups some of them gives signal without making a proper research and base on they have given a twice signals that slightly correspond before and you now fell all their signals is accurate, the signal groups has mislead people with wrong signals, so I think it will be good for you to learn and understand by yourself, so what I wanted some of us to is to learn trading through online tutorials, it will perfect your ambition in trading, the thing is that learn and practice and you comprehend the risk measures of trading, and if you want to go through analysing cryptocurrency and mostly bitcoin you have take note by making sure you how to interpret the movement of candle sticks, that will enable you to understand or not to be victims of disadvantages occurrence in trading and signals

lombok

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Trading with independent analysis must be a priority, because this will hone your ability to upgrade your analytical skills. In any market, the only person who can help and survive is ourselves, not anyone else.

Regarding copy trading, I do not recommend doing it with large amounts of money. Because copy trading is someone else who is in control. Indeed, at the beginning the profits they obtained were consistent, but there were times when they lost money and we also felt this effect. So just be careful when doing copy trades. I myself never believed in copy trade.

Signals or technical analysis from colleagues, other people, VIP or non VIP trading groups, influencers. Don't use this signal as a reference for opening a position, keep doing your own analysis and use other people's analysis as a reference, learning process or comparison.

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Quote from: david678345 on October 04, 2023, 03:53:27 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?

The first thing is the professional does not follow others they go on their mind and techniques. I don't know why people want to follow others to do the same as others. Just go on your thoughts as you have your mind take the idea from signals and gain more experience which makes you perfect in trading the more you learn the more you will gain experience. In trading, everyone has their own strategy that they follow and this is because that suits them it does not mean that it will also work on you. the best thing is to just take the idea and make the final decision yourself I am sure you will succeed. And in trading one should invest the money which he afford to lose if you invest a lot it consequences will be far negative and also do not allow your greedy nature the market is not always on your side.

Distinctin

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It’s best to gain your own trading ideas or trading signals from your own experience in trading. Trading on yourself is still the most recommended one because your experience will definitely hone you into a professional and successful trader in the making. Ignore those trading ideas or signals from random traders, you don’t know in the first place if they are real and successful traders in the market. And most of those who bargain their trading signals are probably not working for them, so how much more for other beginner traders who have less experience in the trading market.

Bananington

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I have always fancied being a student of trading for as long as I can remember, and one thing that is so good about this idea is the experience and boost of confidence that is to be gained, coupled with the fact that whether one makes losses or wins, it is just the fate of the moment to bear.
Besides social trading, copy trading for is more of a cheat or shortcut to people who prefer ease and for people who are too lazy to improve or too greedy to want to double their funds.
Bots have been more encouraged in recent days and for those who are still in beginners stage, it is a one stop solution to long learning experience of trading. Use bots and program it just to trade at the set time. Other functions exist for its use, and Bitget exchange is one which offers this feature in its nature.

asyakashi

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yes, that's true. I think too many predictions with your own predictions are also not good. I usually use signals from Telegram at least it helps me get the coins I want to buy. I will predict the rest myself with simple technical analysis. I'm not very skilled but I think this is enough to be ready to trade. the most important thing is how bitcoin remains stable to keep making a profit from the coins we buy.

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people have different styles of trading. I use all of them because I'm a beginner, meaning I'm not very good at my own predictions. Sometimes I need a trading expert or like a channel that gives signals. It's not wrong to use it, everything is good as long as it doesn't harm you. I think I prefer to use my own predictions in certain cases, as well as copy trading.

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Quote

Re: Trading on your own vs social trading and copy trading

You can try both, and focus on what works for you.

Trading on your own takes more time to learn, more money because you might lose in the process, but in exchange, you can get more profits if you became a successful trader. On other hand, copy trading takes little to no time to learn since you will just copy what expert traders are doing, you don't need that much money doing it, and the chances of you losing money is still there, but it's relatively low compare to when you are trading on your own.

Do what's working for you. Try both, and focus on what you like to do.

You said that you're looking for trading ideas? There are many information online that might help you with your trading journey. You want trading signals? Telegram, and Discord has it, but beware because most of these signals are false. Well it's up to you still if you will follow them or not. Good luck with your trading journey, and I hope you can be a profitable trader someday.

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Quote from: david678345 on October 04, 2023, 03:53:27 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?

If you have good experience and little knowledge about trading, you should not trade with signals from many people. Moreover, if you take signals from a professional trader and successful trader, you may not always profit. You may not always make profit, many times you will face loss but if you start trading with small amount of money on your own responsibility, you will surely learn in future. Moreover, you don't accept signals from others, adopt your own skills and own trading strategies, but it will motivate you and get good profit. So I suggest you never use copy trading but use your own experience and trade it will be good for you. And if you keep trading on your own merit then once you can make good profit it will be best for you.

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Quote from: david678345 on October 04, 2023, 03:53:27 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?

And how exactly are you going to evaluate the ideas of other traders when just trading on your own is considered to be overtrading according to you? You are free to try to use signals, use copy trading or bots, but remember, most of them are scams and will not allow you to get the results that you want, and in that case you may want to avoid wasting your time and begin to learn how to trade on your own, not an easy feat as there is a very real possibility you will fail, but at least there is a chance you could succeed too, unlike the alternatives.

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Quote from: david678345 on October 04, 2023, 03:53:27 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?

You can test the result by doing both. See in the long-run the most and effective way to deal with your trades.

It's not wrong to follow someone but at least, you should established your own trading knowledge while doing trading.

As soon as you become an experienced trader, you don't need to rely on these copy trading or looking for someone analysis.

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Quote from: edmundduke on October 05, 2023, 01:34:06 PM

Quote from: david678345 on October 04, 2023, 03:53:27 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?

There really only is one way to trade and that is to learn to trade yourself. I understand that social and copy trading are extremely profitable but at the end of the day, it means you are putting your own financial future into the hands of someone else. You have almost no control over that. Take the longer road, learn, make mistakes but ultimately improve.

i would definitely not call copy trading as extremely profitable because if it does really gives that much profit i'd have followed all these copy trading platform but there has been no prove whatsoever that these copy trading is truly effective.
you know the trades made by the so called reputable veteran traders could be heavily manipulated by the platforms i don't think its truly a good way to trade.
its as you said, going through traditional method of analysing on our own usually just better.

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OP, have you come to think of those you call professional traders as people who just rose up in a day and became professional traders? I once read a parable about trees: "Trees shade their leaves off during the supposed season, yet they don't die off, for when it's time to grow new leaves, they will still continue their growth." So, a professional trader once learned, tried and failed, experienced a series of losses, and yet they did not give up the practice. Now they have become more experienced and have also learned how to overcome their emotions while trading. They have learned about when to stop trading, when to take profit, when to stop losing, and how to move on with their loses. They have learned the perfect timing rather than just settling for luck and not skill. So, I will say that personal trading on your own is the best way to trade. If you don't know how to trade, then keep learning. Learn until you are good.

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Trading your own gives you a great amount of unlimited power, you can do whatever you want and that matters. However, if you trade with someone else's situation then the result will not be that good because you are limited to whatever they tell you and you have to keep doing what they are telling you as well.

This is why the best thing to do in this regard is to just help yourself and do your own trades, it will definitely allow you to get better and should be something that would benefit you on the long term. I get that not a lot of people end up doing their own trades because they do not know how to do that, but at the end of the day they are going to be forced to learn how to do that eventually which should be the most important part.

I personally do not really do anything that is crazy, I just look at the TA and calculate how it should be going and trade based on that, which makes it easier and not really a big task to trade, sometimes I lose as well, but overall I am in profit lately.

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Quote from: edmundduke on October 05, 2023, 01:34:06 PM

Quote from: david678345 on October 04, 2023, 03:53:27 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?

There really only is one way to trade and that is to learn to trade yourself. I understand that social and copy trading are extremely profitable but at the end of the day, it means you are putting your own financial future into the hands of someone else. You have almost no control over that. Take the longer road, learn, make mistakes but ultimately improve.

I don't agree that they are extremely profitable, knowing most of them are not even reliable at some point. Know that there is no perfect trading, that even professional traders are not 100% capable of having trading signals that work, so why bother following them. Instead, work on your own and trade using your own knowledge and skills. In the end, you will always have more advantage than those who simply rely from others to make their trades work.

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Quote from: cheezcarls on October 06, 2023, 06:47:56 AM

I have tried them all, but trading on my own decisions would be the best bet. For those who didn’t have trading knowledge but wanted to make money by taking shortcuts, they opt for signals and copy trading.

-snip-

Much better to learn technical analysis and trade on your own. Taking it one step at a time.

Copy trading is comparable to a broker that you just give money to and hope that he will make more out of it. So I wouldn't call this "trading" at all but see it as a classic (high risk) investment.
However, people who rely on copy trading must be aware that they have almost no control over what happens to their money ... and should not call themselves traders under any circumstances.

I completely agree with you on the second paragraph. With copy trading you learn absolutely nothing yourself. If, on the other hand, you acquire skills around technical analysis, market predictions and so on, you will not only enjoy trading more but also have huge learning opportunities. Even if the initial phase in particular is certainly a hard learning curve. You don't have all that as a copy trader (or signal trader), but the learning curve is often at least as high.

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Quote from: david678345 on October 04, 2023, 03:53:27 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?

I have tried them all, but trading on my own decisions would be the best bet. For those who didn’t have trading knowledge but wanted to make money by taking shortcuts, they opt for signals and copy trading.

I was that guy back then but not anymore. I just realize that these signals are inaccurate and only have slim chances for the calls to make it right. And as for copy trading, the one we copied is something that we cannot control in his/her decision making whether going up or down.

Much better to learn technical analysis and trade on your own. Taking it one step at a time.

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Quote from: david678345 on October 04, 2023, 03:53:27 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 is more like a gamble especially if you lack the required skill set, that's why it's advised to hold unto your Bitcoin and sell during the bull season instead of trading.

Having said that, there's no way you would gain mastery of trading and become a professional trader without testing the waters. So you need to try your hands of some trade. You've to acquire the right skill, get trading materials and read up, watch professional trading videos and start trading with a demo account, from there you can progress to your funded account. I wouldn't advise you to go for trading signals as most of them are not reliable and you could end up losing your funds.

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Quote from: david678345 on October 04, 2023, 03:53:27 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?

All if you can trade yourself. better than It is better to trade by your own experience and observation. If you don't have to rely on other people then I will become an expert. And in the future you can expect good things without depending on others. You are still new, so if you want, still go with trade signals or someone else's help. Also you observe. Then you will become a professional trader.

Topic: Trading on your own vs social trading and copy trading - page 8. (Read 1434 times)