That’s very important! Not being able to spot a red flag means getting scammed. The more you learn, the more your capability of understanding the market and its possibilities get.
It’s not a bad idea to not take help from anyone. But what is wrong is depending on them completely and not doing anything on your own. This behavior can be really dangerous especially in the long run.
I have seen inexperienced traders face the issue of not being able to control their emotions while making rational trading decisions and entering into positions erratically just to lose more. I think social trading can be a potential antidote to this. This can mean that a cool-headed, savvy trader would make decisions on behalf of other traders.
With social trading, inexperienced traders would get a chance to put the blame of their failed trades on someone else and do nothing more. Even an experienced trader can fail or even a sudden downturn in the market can take everyone by surprise.
I suppose if you go on Facebook or Twitter and form like a trading group there - it would work kind of the same? 
Yeah I can see how some people can confuse those two.
I have always been a trader who pays close attention to the market moves, analyzes each trade, and finds out why it took place. If I had I would have not been able to gain confidence and found out what works and what doesn’t. Even the broker I selected (Turnkey Forex) was a calculated choiceI won’t lie that I never thought of social trading. In fact, I gave it a try with XTB but frankly, it was difficult to entrust decision-making to a complete stranger and so I dropped the idea.
I’ve been a manual trader from the very beginning but once in a while employ automated programs and indicators to alert me of any potential trading opportunity that I would otherwise miss.
After 8 years dealing with social trading (etoro and Darwinex) I can state that finding a true trader is as difficult as being a true trader.
You know it’s all about devoting your time and energy in developing an automated system for yourself, rather than depend on signals from another trader.
I consistently tested, optimized, and developed my trading system. It was a slow process but definitely worth it. End of the day, I didn’t worry about being there to find or execute the trade.
Market conditions, volatility, and trend changes are few factors that I believe can’t guarantee success if you’re dependant on the ea’s. I mean how can you guarantee if your bot worked historically, it’ll work in the future too?
I’m trading to earn and if I have to spend money on hiring a programmer to help code a strategy?!? In fact, any changes or modification by him will again require me to shell out money. So, that’s a big no from me.
I don’t think social trading is beneficial, if you are dependent on other trading behaviour and strategies then how will you learn? So it is always better to learn on your own and make your own trading strategy.
@Jimmy I have actually lost hundreds of dollars with robots especially at times when the market was moving awkwardly slow or at times weirdly erratic.
Talk about greed control and I don’t think any technical indicator could decide when you have enough profit and it’s time to exit.
Club these 2 strategies together and see the difference it makes to your trading. This semi-automatic trading system that I started with turnkey forex has helped me mint money. Talk about identifying the trading opportunities and receive trade alerts with stop loss, entry price, and take profit while maintaining control of the trading account. I started obviously on a full manual mode with octafx to learn the intricacies of trading, but shifting my trading style has done me good.
Are you confusing social media with social trading? What exactly does these social media portals have to do with forex trading?
I think it’s really easy, something that a busy or an amateur trader needs to do. Following the moves and trades of successful traders, they are saved from the hassles of technical and fundamental analysis.
Yes it might save time but many times trades will become dependent on it, and won’t be able to learn by themselves. It is always better to have your own strategy and own risk management plan.
Yeah that’s one advantage. But if you think about it, this very part can become the biggest disadvantage too. As easy as it may sound, the number of successful traders is very low and there are high chances that these social networks would lead you to shady traders that will make you lose rather than profit
Yes that’s exactly what my point was - that people including myself confuse those two 