I just decided to visit copy trading today again. I went through some traders that are copied. I saw the people that are copying them.
The first person that I checked that has opened a position for 90 days is making money. Some people that copied him is making money also but some people are losing money while copy him. There are people that copied him but make no money but not losing yet at the time I snapped this.
This is just like 5% of people that copied him. I snapped the people from the top which gained most. I scrolled down to snap people from the down part which are the people that are losing most.
What lesson can you pick from this?
1. If the person just started trading, you will not know if you should copy him or not
2. If the person is making profit already and you copy him, you might be losing
Know that the person you copied might be losing.
Just like the name sound, copy trading is very risky and one need to be knowledgeable to understand what it takes to go in fully. Copying the trade of people that know how to trade can be always be profitable for us but one too need to understand the risk that is involved in it. If the trader lose, the copy trader is always going to lose. The risk can be huge if the trader make any mistakes or things goes against them. The cryptocurrency market is huge and we can make loses if we don't have concrete understanding about the market. Investing what we know we can afford is better because greed can increase our loses when we invest more than we can afford to lose. The first person that I checked that has opened a position for 90 days is making money. Some people that copied him is making money also but some people are losing money while copy him. There are people that copied him but make no money but not losing yet at the time I snapped this.
This is just like 5% of people that copied him. I snapped the people from the top which gained most. I scrolled down to snap people from the down part which are the people that are losing most.
What lesson can you pick from this?
1. If the person just started trading, you will not know if you should copy him or not
2. If the person is making profit already and you copy him, you might be losing
Know that the person you copied might be losing.