Should I copy/follow someone while I study and learn on my own until I feel ready to take over on my own? Or should I just wait and just study first and then do everything myself?
If you know someone that is a great and profitable trader, then why not just do what they’re doing? You can always learn something on your own, but it will definitely shorten the learning curve if you have a mentor
I haven’t looked into finding one yet. Like you said I also feel having a mentor amd learn from them would definitely help or at the least just copying someone and learn my own way.
i wouldn’t bother
it’s really difficult and requires particular skills to assess and interpret them, too
it’s terribly time consuming and you’d be better using that time to learn to trade yourself
most importantly of all, when you do find a profitable one, they typically don’t REMAIN profitable when you start to follow them, though the manifold reasons for that require a lot of experience and practice to be understood
this post explains the underlying principles as well as anything else i’ve seen here -
it’s a really misguided direction, for many, many reasons, including the ones i’ve just explained
that’s another matter altogether
“finding a mentor” and “finding someone whose trades you can follow” are very different issues
I get what you’re saying, and of course you will definitely have to develop your own strategy and the market is always changing, so you literally can never stop learning in this business. I’m just letting him know what’s helped me so far, just following certain social media pages has helped my strategy lol there’s surprisingly a lot of valuable content
That’s the proper way! Don’t lose your money by following others!
If “someone” is a close relative you know makes money - YES !
Otherwise - Don’t be naive ! -NO !
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Should I copy/follow someone while I study and learn on my own until I feel ready to take over on my own? Or should I just wait and just study first and then do everything myself?
My answers are as follows:
- Explore suggested ideas.
- Experiment on on my own.
- Find the formula that cures all.
- Lastly, do everything myself and do it good.
That’s what I did after I bought the last ebook from drforex-t.
You should define " follow " accurately.
What do you mean?
Following a person’s signal. Does not help you in terms of improving your own trading skill. Everytime, i follow other’s opinion, i will compare their signal with my own analysis. Then i try to figure out what their methodology is base whatever information they are willing to divulge. This is how we can improve ourself. The more attempts we make to decode other’s strategy. The better we will become.
Please, don’t waste your money by following this kind of so called service! Better, concentrate on your learning process and start live trading when you are able to do so.
rather than copying/following somebody i would recommend you to go for demo account. you’ll learn everything with zero risk involved. then you can shift to live account. demo is way better master than anybody.
My answer is don’t follow. Here my reasons:
First, because it is contrary to the principles. Independence is one of the major reasons for doing this endeavor.
Second, it teaches the trader to be lazy. The signal providers will not teach you their trade model / system concepts anyway. I think it’s dangerous in the long run.
Third, if their systems are “really that good”, then why do they need to sell it? Why put additional unnecessary burdens and responsibilities to themselves? That I think raises the questions of integrity in their trade models / systems.
Good luck on your forex venture. 
I personally think copy trading can retrain the capacities of yours: it may limit you abilities to conduct analyses. Thereby, at least the you can try to work on your own styles at this preliminary step of learning.
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If you are able to find some free and reliable sources (although that’s pretty hard), then why not. Following their strategy could help you improve your knowledge and skills but this should not put your own studying behind. Of course, you should not just follow the signals or strategies but try to analyze the idea behind it and explore the trading moves. Use this just to expand your ability and knowledge and be careful to not become lazy and get used to rely only on signals.
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exactly, i don’t see the harm in looking at what others are doing, especially if what they’re doing is working for them
Should I copy/follow someone while I study and learn on my own until I feel ready to take over on my own? Or should I just wait and just study first and then do everything myself?
I would recommend you to focus on your study and learn as much as you can. Its not worth to rely on someone specially when your money is on stake.
Thank you all for your advice and suggestions! Sorry I haven’t replied back. I’ve been trying to read and study or watch videos and tips from others but haven’t actually tried to copy anyone yet. I assume everyone whose trading or claims to do so knows something about what they’re doing though I’m not sure. Somethings sound good and other things can seem a bit confusing or maybe I just dont know enough yet which is exciting but also very frustrating.