What do you guys think about copy trading?
Let's discuss please
Copy trading is just a learning tool for newbies or those who are just making their journey in trading. I use copy-trading before but not an app, and it is because I have no trust in these apps. But yeah, I'd leave copy-trading after getting an idea of how it works and I would say that there is no potential to become successful from doing this. That is why I won't suggest to keep doing this longer if you wanted to grow your knowledge and skills, and you never be successful from relying on others' minds. If they can manage to analyze the market, we can do it as well because there are a lot of available resources that can be used, only we need to spend time.
If by using copy trading newbies could actually learn more about trading it would not be so bad, however I have my doubts this is the case, as it is not as if the trader they are copying describes exactly why they are opening a position at that point in time and what they are trying to achieve with it, if that was the case a smart newbie could learn a lot from this and eventually develop their own successful strategy based on what they saw, but we both know those people are not really interested on learning and they just want to profit from the efforts and skills of someone else.