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?
From the last time I replied, I've joined a new platform where I have started copy trading a 30 days highest return, which is risky but more fun than dumb slow strategies.
At the moment the 30 day return would be a good option cause we have seen both bearish and bullish trend on the last thirty days and the strategy has been working properly. As we now enter the new phase where the market would probably be sideways or bullish, I have huge expectations with the strategy. The first day it yielded me 20% profit which I reinvested. And starting today, I'm going to bag profit as it might be a better idea to get back my ROI first.
You need to be very careful, any strategy that can bring 20% in profits in a single day, it is a strategy that is taking a massive amounts of risk, so if the prediction of the one you are copying right now was wrong you can expect losses which are much higher than that, and it is even possible you may get a margin call, so do not get overconfident as those results cannot be maintained long term, regardless of the supposed skill a trader may have.