Copy trading as a beginner

Any advice about copy trading as a beginner through a signal provider?

According to my own experience, copy trading isn’t the permanent solution here! It’s a very risky decision to use copy trading service, same goes to trading signal service!

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Could be one of the fastest ways to lose money for a newbie. You may see what he trades, but you won’t know his risk parameters, what strategy he’s using for what currency pairs and market environments, if he’s using another trading platform/broker to hedge certain trades, etc.

It’s faster to actually learn the basics over time if you’re going to open/close trades yourself. If you don’t wish to, then seek an investment professional with a proven track record to manage your investments.

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mql5 site has a shop fore traders copy service. results are verified. but always test on demo for a few weeks first. that really it. also dont put all ur eggs in on basket of copying only use it as a form of diversification

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I am not too fond of copy trading, especially if one is a beginner. Same goes for using robots. I think it’s important to understand what the trader (or the robot) are doing.

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I don’t think copy trading is a good idea. If it’s a paid one then you’ll just be handing out your money to that person. It would be better to learn how to trade for yourself. Start with the education section here. Then as you go along open a demo account to practice what you’re learning. Good luck.

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I totally agree. Moreover, traders opting for copy trading are not able to learn things and will always have to depend on others for their trade.
There is no guarantee that their trade will be successful all the time.

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Traders can copy trades as a beginner but if they keep doing so, they can’t learn something about trading in the long run. Rather newbie traders have to spend time in learning about trading. They have to flourish their trading day by day. They need draw a roadmap to improve their trading.

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Coping trading can be a temporary solution but not permanent solution indeed. Because when you are copying others, it doesn’t refer to your creativity; rather you are not learning something that will affect in the long run. I never suggest copying others.

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Yeah my advice is don’t bother. If these services worked long term more would be doing it and doing well but neither are true. There are no shortcuts to making money in trading.

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I’ve tried a few services over the years, but wasn’t so successful

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Copying is no art need and it doesn’t also refer to professionalism. If you keep copying others, you can never learn something. Initially, you can copy other’s trades for a few days, but this process should not be perennial. But, it’s okay if you copy others for learning purpose.

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I’d really like to see well journaled data on copy trading services.
Stands to reason following a successful trader using good risk management should be profitable all things been equal

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I’m not sure your ever really learning anything would be the problem unless you are being talked through each trade

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Well, I think new traders need to focus on only the learning process instead of this kind of service! They should spend their energy on the right way! If they start their trading journey by depending on others, it’ll hamper their normal activities!

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