Copytrading: What are your thoughts?
- Thread starter trost_samantha
- Start date
Hahaha. Low-count poster here, but certainly not a bot.
Is copy trading suitable for beginners or is it better to learn how to trade independently first?
You can try just allocate smart portion of you capital to this venture, maybe 10-20% and then see how it goes. Anyway it should be useful experience.
How about generic like saying location is : Europe. Hmmm.
Beginners are more prone to losses due to their limited knowledge and experience so copy trading can be a viable option for them. It simply allows them to follow and copy the trades of more experienced traders, without having to develop their own trading strategies from scratch.
But learning how to trade independently can also be a valuable experience for beginners, as it can provide a more in-depth understanding of the markets and allow for greater control over trading decisions. So, the decision to use copy trading or learn to trade independently will depend on individual preferences, goals and risk tolerance.
Depends on your goal, obviously. Do you just want to make some money? Then copy trading *might* work for you, although I am skeptical given the amount of kamikazi grid, Martingale and averaging bots I see on these copy trading sites.
If you want to learn to trade yourself, then copy trading is useless. You will only see the entries/exits but not their chart. It is impossible to know why they took that trade, what indicators they look at, or even on what timeframe they are looking.
Copy trading can be pretty good for new traders but it can be a double edge sword. You need to carefully check if the person you want to copy trade has a consistency strategy with stable profit.