Quote from: passwordnow on Today at 11:14:52 AM

Quote from: lixer on Today at 10:21:41 AM

Quote from: passwordnow on September 29, 2024, 10:38:16 PM

What's sad with many of the newbie traders that I see is that they think copying others is going to be okay in the long run.

Yep, and now the Copy Trading option being available at most centralized exchanges makes this belief stronger among newbies. They believe they can do copy-trading for the rest of their lives and earn money without having to learn anything but they are wrong. You can't rely on other people all the time, even if you can, it will only be for a short term and you will eventually have to start doing your things yourself instead of relying on others for that.

As a trader, a person needs to understand everything. Not only as a trader, but in anything a person does, he must know what he is doing, otherwise, he wouldn't have any idea what is good and what is bad, and in this ignorance, they can lose a lot of money without even being able to understand how they lost the money.

An aspiring trader needs to learn that copy trading isn't the only way to earn in trading. But too many influencers nowadays that are bragging of their profits that they've taken through copy trading. I am not impressed because there's so much schemes that are rotating in the market that they are fooling people around and only shows the gains that they've made. Many are ignorant about this and they patronage those people because they think that they'll get a free "signal" from them.

I am not convinced as well with the results that they show. Well, I mean that I am not a good trader but fooling around others just to make your reputation clean and interesting to the others is already a disguise and a scheme waiting for destruction as soon as the preys bite the bait. Many are still uninformed about trading as if it's an easy thing to do and a source of money. But they're going to realize that when they started to lose money, got eaten by the market by bigger and better traders.

I do really have that kind of view that copy trading are really just that for those people who are lazy enough on learning up trading. Instead on doing some hard work and research they do rather choose up on making themselves that following someone and wont really be liking up on learning on their own and this is why i do consider them to be lazy. To those traders who had been followed then there would really be those who do really want to showcase out their trading skills. Getting some commisions or profits out of their followers then this might be something a new trend now but actually to those who do follow isnt something that they could be able to enhance up their trading skills. As for those people who are really that trying out to make use of a single trading strategy is something more better in compared into those people who do just simply
trying out to consider on following others. As for talking about being enough then this is something that cant really be concluded on which market does have different variations or conditions on which you would be
needing a specific set of strategies for you to test out on which one would really gonna work for you.