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?
I believe that copy trading is a bit pointless unless you are 100 percent sure that you want to trust a total stranger not to make losses more than profits. Personally, I would not trust anyone or anything other than myself to do my trading.
The best thing for a newbie to do is to practice with test coins on a testnet. There are even good testnets for derivatives trading, once you get the hang of spot trading.
Personally I prefer deribit testnet . But there are others.
Well, you have some point but as we are talkng about learning trading, something to say that we can gain some idea from that way. Of course, we can't keep reliant on this as we continue but for me, this serves as a stepping to stone. If we can't get more ideas from copy trading, well, at least we already have gain experience which can also be used as we continue our journey. Because being a newbie to trading doesn't mean we have to learn fast and profit fast. Being a newbie means we are just adopting the new environment and certainly, we lose money because whatever you do or any strategies, we still end up losing but at the same time we are also learning.
Many people are constantly doing copy trading and while doing this trading, they can understand themselves and gain good profit by adopting their own training strategies, but this happens to those who are interested in learning trading even though they are doing copy trading. But those whose intention is only to make some income by copy trading, they may be able to make some profit for a temporary period but cannot gain anything good. There are various types of paid channels where trading signals are provided which are very effective but spending time behind them and doing no research on your own will never lead to good trading knowledge.