Copy trading has gained immense popularity in the crypto industry since its introduction. Bitget, being one of the pioneers in this field, remains one of the largest platforms for copy trading cryptocurrencies. Many consider it an appealing choice for beginners, but is it truly effective for those who are new to trading?
Whether it’s trading or any other task, if you blindly follow it, then definitely you won’t know the inside depth of that work. Yes you can make good profits from it, but a time will come when you have to trade by yourself and you will fail. As whole trading journey you did copy trading, hence it won’t enhance your actual profit making skills. Copy trading is good for the initial days as beginner. Moreover copy trade only to match the trades and assumptions that you make for the coins. Rest is upto you, how you choose to go ahead with copy trading.
Copy trading is not really a bad idea to make money. I can say that it is a smart way to eaen only if you understand what you are doing. A total newbie might lose money in copy trading but someone who has the idea of trading will know the most realistic trade to copy. A good trader will under when the trade is going against whom he is copying and try to make deviations, but this cannot be said about a novice trader who only depends on the copy trade to earn.
Again, if a newbie starts with copy trading and begin to make money, they may never return to learn the real trading and that's a big disadvantage.
For me, it has always been best when any kind of newbie in any new environment takes at least 3months to carefully study up on the subject of interest before trying to use a hack or should I say shortcut to by-pass the basics.
Copy trading is genius in its idea and it has helped those of us who have tried applying it, to know that trading is doable and learnable, just like every other skill one would pay to learn or from YouTube classes.
Copy trading is a viable option, but not particularly a good idea for newbies without any of the basic knowledge or even the slightest interest in heart.