Tried Copy Trading? | Bitcointalksearch.org

Quidat

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Quote from: CryptoBry on August 31, 2017, 11:23:13 PM

Since not all of the people interested with trading can be professionals in this field and not all can have the time to focus on always being updated in all hours of the day, many trading firms are now offering Copy Trading. This means that we can just follow the trade moves of someone who is already an expert and has proven track record of success. It started with forex and now they are also offering cryptocurrencies as this is now in demand and very trendy.

Have you tried copy trading with cryptocurrency? How was the experience and what are the possible pitfalls with this set-up? Hope to hear more from you guys on this regard.

Talking with forex I do only engage on EA trading which I do set up a robot on handling an automated trading but talking about copy trading I haven't tried such thing and yes it becomes trendy because some claimed that they are earning money on just copying other trade set ups or entries.Its good but I wont limit myself on just copying others trade.I would strive to make my own trades either manual or auto on my own knowledge.

BingoDog

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I have never heard of copy trading before but I'm not sure if this is working and how. I mean trading takes a lot of dedicated time and efforts and every trading process is individual so it's hard to imagine how this could work on a copy basis. This sounds to me like it could only lead to the loss of money because on that way you don't actually know what you are doing.

Dontme

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Quote from: Pursuer on September 01, 2017, 02:35:18 AM

Quote from: CryptoBry on August 31, 2017, 11:23:13 PM

Since not all of the people interested with trading can be professionals in this field and not all can have the time to focus on always being updated in all hours of the day, many trading firms are now offering Copy Trading.

really? I didn't know this was a "common" thing. these "firms" offer information and signals and things like that but copy trading is new to me!

Quote

Have you tried copy trading with cryptocurrency?

as I said this is new to me but I already dislike the idea of it. copying others even if they are experts is not a good idea. specially if you are new and have no idea what you are doing.

Quote

How was the experience and what are the possible pitfalls with this set-up? Hope to hear more from you guys on this regard.

trading is something that you need to actively engage in and know what to do in different scenarios.
for example imagine you copied someone else's trade where they bought something. and that something got dumped. the expert obviously knows how to handle that situation and will pull out immediately to prevent more loss and will invest at the bottom for reversal and again pulls out as soon as he reaches the profit.
when you copy him, you buy then lose a big amount when the dump happens and before you even realize the person who you copied is already out. then you will lose another money because you go in again after he bought in the bottom and lose another time when he pulls out and you get the memo late!

this is obviously an extreme scenario but it is one of the common occurrences in the market which is always unpredictable.

It is good to learn from the experts and professionals their experience is better than us as a beginner in trading but copying them or imitating them is not good for you which is leads you to more wrong moves... that was my opinion because for me learning from them is a very good idea and good way to do but copying all their moves and strategies is much more wrong because it can lead you to depend on what they have how about if you have not in the same situation in dealing? Your knowledge and skills is much more better than copying their way of trading.

2fresh

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Copy trading, you're just following money.
I see it as taking advice which could as well be the wrong advice.

xianbits

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This is my first time hearing this Copy Trading. Thanks for educating. Anyways, I don't think it's a good thing. People who only depend on experts won't learn anything. It's like a spoonfeeding for me. It's good to have the ideas from the experts but you also have to stand in your own decisions, your own thinking.

diguyo

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I think it's ok for a beginner, and it works in the stock market - crypto coins are more of a worry though, there's considerably less experience and more anonymity...personally I would do a lot of research into who the person is, if you can...and if you can't then I'd feel very nervous about doing it.

It's not like a stocks fund when you know exactly who the guy is, his long term (10 year plus) performance data and be able to compare that to the average etc. At least the limited ones I've seen aren't.

BitcoinHodler

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i guess it can be good for beginners who don't know what to do and what to buy. but it is good only if these beginners try to understand what they are following and not just follow it like a sheep!

of course it would be even better if the person they are following gives some tips on why he made those trades. otherwise i think "copy trading" is more harmful that it is profitable.

neowne

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whats that bot for, does it give you signals or mekes it automatic trades?

hajimasan

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Quote from: CryptoBry on August 31, 2017, 11:23:13 PM

Since not all of the people interested with trading can be professionals in this field and not all can have the time to focus on always being updated in all hours of the day, many trading firms are now offering Copy Trading. This means that we can just follow the trade moves of someone who is already an expert and has proven track record of success. It started with forex and now they are also offering cryptocurrencies as this is now in demand and very trendy.

Have you tried copy trading with cryptocurrency? How was the experience and what are the possible pitfalls with this set-up? Hope to hear more from you guys on this regard.

This is the truth that we can make our trade successful when we are experienced but in actual reality even most of the bulk and successful trader always follows the system of patience for long time .
If we can follow a successful trader then still we can't make himself sure that we are safe in every trading .
But still before to follow the big traders we should talk with them that which type of trading is better for us ( trading with particular coin ).
So better is to follow them but with better suggestion because conditions always remain different for different people .
Here i myself follows a person who is from India and always told me that what he is doing Every time and also everytime i asked him that how much profitable for me to invest in that coin for which he is investing and also i am getting the result of profit every time .

rtinedal

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I do not believe in copy paste trading to earn you trading, you really need knowledge to become your strong hands. in trading is not lazy but if you want a copy paste technique, this tip will look for patterns to bullish price in many google sample if there is a head & shoulder pattern bearish price if inversed head and shoulder bullish price, you need to learn for your knowledge

gamerfan

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Quote from: CryptoBry on August 31, 2017, 11:23:13 PM

Since not all of the people interested with trading can be professionals in this field and not all can have the time to focus on always being updated in all hours of the day, many trading firms are now offering Copy Trading. This means that we can just follow the trade moves of someone who is already an expert and has proven track record of success. It started with forex and now they are also offering cryptocurrencies as this is now in demand and very trendy.

Have you tried copy trading with cryptocurrency? How was the experience and what are the possible pitfalls with this set-up? Hope to hear more from you guys on this regard.

Yes, I am still trying on 1broker and I'm not losing and not winning. I'm about the breakeven point.
The positive part about this strategy is that, once set up, you may do nothing. It could be passive income, basically. The downside is that you put your money in a stranger's hand, that may lose everything with his/her bad trading moves.

figmentofmyass

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Quote from: CryptoBry on August 31, 2017, 11:23:13 PM

Have you tried copy trading with cryptocurrency? How was the experience and what are the possible pitfalls with this set-up? Hope to hear more from you guys on this regard.

when 1broker's BTC market was still active, i occasionally copied BTCUSD trades when one or two of my favorite traders took a position. they have a pretty nice interface there for chatting and copying trades, with commissions for those who share trades.

i've done well, and the key is 1) researching your traders and 2) spreading out the risk really well. i suppose the second part is the same with trading: you have to manage your risk by only allocating a small portion of total capital to each trade. they still offer a lot of markets, just not crypto anymore.

HeRetiK

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Quote from: CryptoBry on August 31, 2017, 11:23:13 PM

Since not all of the people interested with trading can be professionals in this field and not all can have the time to focus on always being updated in all hours of the day, many trading firms are now offering Copy Trading. This means that we can just follow the trade moves of someone who is already an expert and has proven track record of success. It started with forex and now they are also offering cryptocurrencies as this is now in demand and very trendy.

Have you tried copy trading with cryptocurrency? How was the experience and what are the possible pitfalls with this set-up? Hope to hear more from you guys on this regard.

I've heard of a concept called social trading, which seems to work very similar, only that the trader may not be a professional in the field but rather just someone with a lot of talent.

I think the main challenge in adapting this concept for cryptocurrencies is that they suffer from a much higher volatility and faster price movements than traditional stocks and even forex. This means you have less time to follow trades in a market that heavily shifts, thus amplifying possible trade discrepancies between you and the trade leader. If you look at the alt coin market it gets even worse due to low trading volumes, meaning larger social / copy trades would worsen their volatility.

MiXxe

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Quote from: CryptoBry on August 31, 2017, 11:23:13 PM

Since not all of the people interested with trading can be professionals in this field and not all can have the time to focus on always being updated in all hours of the day, many trading firms are now offering Copy Trading. This means that we can just follow the trade moves of someone who is already an expert and has proven track record of success. It started with forex and now they are also offering cryptocurrencies as this is now in demand and very trendy.

Have you tried copy trading with cryptocurrency? How was the experience and what are the possible pitfalls with this set-up? Hope to hear more from you guys on this regard.

I 've heard this before but this is something too hard because in life we can't copy ones trades .We sell and buy at different prices and maybe they will do it to take advantage for the new traders to offer and before that is the common entrance fee to that group.

ShadowBits

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Quote from: CryptoBry on August 31, 2017, 11:23:13 PM

Since not all of the people interested with trading can be professionals in this field and not all can have the time to focus on always being updated in all hours of the day, many trading firms are now offering Copy Trading. This means that we can just follow the trade moves of someone who is already an expert and has proven track record of success. It started with forex and now they are also offering cryptocurrencies as this is now in demand and very trendy.

Have you tried copy trading with cryptocurrency? How was the experience and what are the possible pitfalls with this set-up? Hope to hear more from you guys on this regard.

i never tried that system of trading for me is the best that you manage your on trade what if that trade is loss so your blaming your self that you invest in that kind of trading system.

investeerder

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Quote from: no0dlepunk on September 01, 2017, 01:28:12 AM

Quote from: CryptoBry on August 31, 2017, 11:23:13 PM

Since not all of the people interested with trading can be professionals in this field and not all can have the time to focus on always being updated in all hours of the day, many trading firms are now offering Copy Trading. This means that we can just follow the trade moves of someone who is already an expert and has proven track record of success. It started with forex and now they are also offering cryptocurrencies as this is now in demand and very trendy.

Have you tried copy trading with cryptocurrency? How was the experience and what are the possible pitfalls with this set-up? Hope to hear more from you guys on this regard.

I don't believe in copy trading, bro... instead, why don't you try gunbot? It's quite easier and more reliable than copying human emotions. Ha ha ha. Just kidding.

Anyway, I have been using gunbot for a while now and so far so good. (Except for the past July and August when altcoins are so so down). Cheers!

Copy trading can help us some idea on which coin is good to trade on this time but actually this copying strategy of us sometimes not work since the time differential between our trades and the one we've copy is not the same. So that's why we should try to reach up as much as possible to look out for the our trades since we are the one who gonna make ourselves more richer and wiser on this kind of earning thing.

Pursuer

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Quote from: CryptoBry on August 31, 2017, 11:23:13 PM

Since not all of the people interested with trading can be professionals in this field and not all can have the time to focus on always being updated in all hours of the day, many trading firms are now offering Copy Trading.

really? I didn't know this was a "common" thing. these "firms" offer information and signals and things like that but copy trading is new to me!

Quote

Have you tried copy trading with cryptocurrency?

as I said this is new to me but I already dislike the idea of it. copying others even if they are experts is not a good idea. specially if you are new and have no idea what you are doing.

Quote

How was the experience and what are the possible pitfalls with this set-up? Hope to hear more from you guys on this regard.

trading is something that you need to actively engage in and know what to do in different scenarios.
for example imagine you copied someone else's trade where they bought something. and that something got dumped. the expert obviously knows how to handle that situation and will pull out immediately to prevent more loss and will invest at the bottom for reversal and again pulls out as soon as he reaches the profit.
when you copy him, you buy then lose a big amount when the dump happens and before you even realize the person who you copied is already out. then you will lose another money because you go in again after he bought in the bottom and lose another time when he pulls out and you get the memo late!

this is obviously an extreme scenario but it is one of the common occurrences in the market which is always unpredictable.

no0dlepunk

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Quote from: CryptoBry on August 31, 2017, 11:23:13 PM

Since not all of the people interested with trading can be professionals in this field and not all can have the time to focus on always being updated in all hours of the day, many trading firms are now offering Copy Trading. This means that we can just follow the trade moves of someone who is already an expert and has proven track record of success. It started with forex and now they are also offering cryptocurrencies as this is now in demand and very trendy.

Have you tried copy trading with cryptocurrency? How was the experience and what are the possible pitfalls with this set-up? Hope to hear more from you guys on this regard.

I don't believe in copy trading, bro... instead, why don't you try gunbot? It's quite easier and more reliable than copying human emotions. Ha ha ha. Just kidding.

Anyway, I have been using gunbot for a while now and so far so good. (Except for the past July and August when altcoins are so so down). Cheers!

CryptoBry

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Since not all of the people interested with trading can be professionals in this field and not all can have the time to focus on always being updated in all hours of the day, many trading firms are now offering Copy Trading. This means that we can just follow the trade moves of someone who is already an expert and has proven track record of success. It started with forex and now they are also offering cryptocurrencies as this is now in demand and very trendy.

Have you tried copy trading with cryptocurrency? How was the experience and what are the possible pitfalls with this set-up? Hope to hear more from you guys on this regard.

Topic: Tried Copy Trading? (Read 515 times)