For those who have experienced copy trading, what are the key benefits and drawbacks you have encountered?
Benefits of copy trading:
- Accessibility: Copy trading allows novice traders to access the expertise of experienced traders without requiring extensive knowledge or experience.
- Time-saving: It saves time by automatically executing trades based on the actions of the copied trader, eliminating the need for in-depth market analysis.
- Learning opportunity: Copy trading provides an opportunity for beginner traders to learn from successful traders by observing their strategies and decision-making process.
- Diversification: Copy trading allows for diversification by following multiple traders with different trading styles and approaches.
- Potential for profit: If successful traders are followed, copy trading can lead to profitable trades and potential financial gains.
Drawbacks of copy trading:
- Losses: Copy trading does not guarantee profits, and there is a risk of losses if the copied trader makes unsuccessful trades.
- Lack of control: Traders have limited control over the trading decisions made by the copied trader, which can be problematic if the trader’s strategy or risk appetite does not align with their own.
- Dependency: Relying solely on copy trading may hinder the development of one’s own trading skills and understanding of the market.
- Trust issues: Selecting reliable and trustworthy traders to copy is crucial, as there is a risk of following unscrupulous or poorly performing traders.
- Replication delays: There may be delays in executing trades, resulting in slippage and potentially different outcomes from the copied trader’s trades.
It’s important for individuals considering copy trading to thoroughly research and assess the risks and benefits involved, and to make informed decisions based on thier own financial goals and risk tolerance.
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who is the best to copy baby???
I do not engage in copy trade for a variety of reasons. One is that you can’t always rely on other people’s signals. You should be able to operate independently and develop your own set of skills.
Personal opinion, stay away from it. Most are no professional traders and besides that it’s better to invest time in getting experience yourself if you want to become an independent trader.
Start out small, either with a demo account or very small amounts of real money. You will lose at the start, key is to keep improving yourself until you get there without losing all your money along the way.
If you can copy a good trader, you can carry high profit but if you copy a bad trader, you will be the worst sufferer of loss.
When i did begin trading forex i saw it more as a learning opportunity or as a partner in forex trading.
I did compare my forex trading analysis with two others ( copy trading) and i used copy trading more as a way to see if we where on the “same page” or not and that way get some confidence in forex trading, but in general i will recommend not to use copy trading to me copy trading can be compared with football or horse racing tipster services etc
Losses can increase, you have no own control, being away from learning and increasing dependency.
Thanks for your time, dude. I truly value your reply. However, you know that I honestly wished to hear your perspective on the matter. and your background.
for instance friends profitable trades.
what if you see they are profitable??
While having personal experience is crucial for independent trading, labeling all trading forums as unprofessional misses the opportunity for knowledge-sharing and mentorship to occur.
I agree with what you said. It can result in large earnings if you decide to act like an experienced trader. But if you copy a bad trader, you’ll wind up losing a lot of money.
Comparing copy trading to tipster services, you see it as a learning opportunity and a means to boost confidence, but you do not advise relying completely on it.
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I didn’t examine that the same way you did. nice perspective
yes that is true, you can not trade on any sport if you have no idea what is going on (same in forex etc) and it is the loosing concept to throw your money into a black hole where the money are gone forever and people sit back home and will be angry at the tipster service but instead they shut be angry at themselves i think …
and yes i see them as a great learning opportunity but it will be a lazy stupid idea to sit back and not try to understand" why what when" is going on in the market and how to react on these situations and why you shut try all ways to “green up” and try take your profit or at leat BE.
They can be great teachers but you still need to be a good student and one day you leave “school” and are on your own 
Do not do the same.
It wont work for everyone.
Hi Chen,
If you want to learn I can recommend you to search at youtube for “The trading channel” and watch all his free content, to my opinion it’s the best channel around to learn the basics.
Copying trades from unknown people who’re advertising on insta, fb and telegram is looking for trouble. It doesn’t add any value as you need to learn creating and trading your own system for the long term, not copy what others do. Even if you make profits with copying trades, I still doesn’t bring you anything concrete in the long term. Invest time in self-education: read books, watch videos on different topics (strategies, discipline, psychology, etc.), start building your own strategy, backtest it, and start trading it yourself, alone, in the live market with extremely small amounts.
Good luck
Copy trading increases the dependency of a trader and discourages a trader to gather knowledge.
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Copy trading keeps a trader apart from learning so I think it’s a major drawback that works as an impediment in the way of self-development.
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