Quote from: JayTrain on March 09, 2024, 10:35:14 AM

My opinion on social trading in cryptocurrencies is mixed. On one hand, it's a great way for newcomers to access successful traders' strategies and start trading without a deep understanding of the market. On the other hand, copying trades can be risky if the trader doesn't understand the market's risks or dependencies. Ultimately, success in social trading depends on careful selection of traders to copy and risk management skills.

I won't use social trading because it'll make me to be depending on other traders for signal to trade. Social trading is also like receiving signals from a signal group but the difference is that with social trading you're getting the signals directly from top traders and you have more opportunity to make profits because the traders will be using the correct signals as they took want to make profits but signal channels can send anything and give excuse when the signal is wrong and you didn't make profits. Every trader should learn to make their own analysis of the market and open a trade on their own without depending on signals from other traders through some copy trading or signal groups. When you're analyzing the market, you'll gain experience that you'll be able to use when next you want to trade.