Yes, copy trading may be effective in seeking for profits but only for those who are willing to take the risk and know exactly those risks involved. However, for beginners in trading, I cannot guarantee that they can manage properly the risk in copy trading, especially that they have less experience as traders and are not completely aware on how to make money in trading, most particularly on how copy trading works and become profitable. But I must say copy trading is a great way to make money, it’s just that the risks involved are not applicable for beginners.
Not every time copy trading works well, especially for newbies. I think a newbie needs to use the strategy that is suitable for them, not following the popular trading strategy. Although the newbies can take the risks, but the copy trading may not work well if the newbies only follow it without good understanding of the trading strategy.
Indeed. No guarantee that copy trading will be suitable for newbies, even it may be not suitable for experienced traders as well. For me, the best way to trade is by using our own way, using the trading strategy that is proven to be effective with our trading nature. IMHO, copy trading isn't only about the risks but it is about how well it suits our trading style.
Most of the newbies doesn't care about strategy because their main intention is to gain money. Maybe realization that they need to learn will came late when all things fall apart and the person where they copy their trades gone. Newbies should realize that there's no easy life on trading and they need to spend lots of time researching since if they base their trades to other people well they cannot learn something and remain a newbie in the industry.