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?
Yes, that's an excellent advancement in trading and I believe it was conceived due to the desperation of brokers and exchanges to make people stay in trading. But I see part of your comments contradictory because the copy trade program is solely service provider-based and not educational-based, so how do you learn other than earn as you claimed?
That asked, I've known copy trade for about 15 years now and I love the way improvements are happening. For traditional financial market trading, I believe there is no copy trade service that has proven to have that long-term record per se. Although you might be seeing a huge return on their profile, but that could have been achieved years or months before their current performances.
In a nutshell, all providers I know always have four performances; 1) Those that will lose your money for you very fast, 2) Those that will earn so much for you initially but later lose your money, 3) Those that will be earning and losing for you without so much to show for it in the long run, and 4) Those that will maintain the gain but with a very little profits.