Crypto can be a thrilling ride, but navigating the market waters can be tricky, especially for beginners. Who knew there was a way to learn from seasoned traders and potentially score some sweet returns at the same time?
Lately, I've been using a feature that lets me copy the trades of experienced investors. It's been a game-changer! My portfolio's looking good, and I'm gaining valuable insights into different trading strategies along the way. This has me curious - what are your thoughts on copy trading? Have you tried it? What's been your experience?
My opinion is that it is too good to be true, the traders that allow themselves to be copied very often only have some short term success behind their backs, but very often that success comes accompanied of the massive risks they took to get where they are, so if you copy one of those traders, it is likely you will do so once they have accomplished some success, and it is unlikely for this to continue and you will lose your money, learn the wrong concepts about trading, while at the same time you do not really learn anything useful, making adopting copy trading as your main trading strategy a huge mistake.
One of the main cons on doing copy trades is that you wont really be making yourself that progressive or something that do talks about able to learn trading since you've been copying. Also, you are really just that totally depending into that traders success at the same time he would be making some commission which is on part of your profits on which its a no risk for them on such condition.
If you are really that wanting to make yourself being a good trader or someone whose really that progressive then it would really be just that right that you would really be putting up such focus into yourself on learning things on your own. Its not bad to snip out some idea while you are following but i would really be that recommend or much prefer on having that manual trading rather than on making those follow or copy trading.
If you are learning at the same time then it wont really be an issue yet ive been doing this on which i have some accounts which making up some copy trades at the same time i do make manual trades too.