Binanace copy trading, anyone tried?

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alurosu said:
Didn't even know they had that feature. Are there long term traders with good results we can copy? When did copy launch on Binance? Do we still trust Binance after the investigation?
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I am seeing that since few weeks, may be they enable based on user levels.
 
I saw the copy trading feature in some other exchange that was similar to Binance. Isn't it just a way to glorify those who got profited because the crypto is in a bull run? or is there really a strat behind them investing.
 
alonelywriter said:
I saw the copy trading feature in some other exchange that was similar to Binance. Isn't it just a way to glorify those who got profited because the crypto is in a bull run? or is there really a strat behind them investing.
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In my understanding it's like the mutual funds, someone else plays on your behalf.
 
I've always been curious about this too. Is it perhaps region based as well. Cause I've heard people talk about it but haven't seen it for myself
 
Update: just invested 100 usd through copy trading, trader is not online since last three days, so no up and down in investment, will wait one more week.
 
If you look at copytrading from the side of the owner of such a bot, the main benefit is that you can get 10% profit from trades without bearing any risks in case of losses. Copytrading is a risky instrument, but at the same time, if you go deeper, there are two types of copytrading:
1. ai bots
2. ordinary copytrading, when a person manages it.
In the first case a bot can be profitable, but only if there are no price changes from news.
In the second case all the risks I have described above

Speaking from my experience, I've used ai copytrading a few times, which was advised in my tao. In 2 weeks the bot did x2-x4 of the deposit, but reduced it in two at the first big news. So DYOR
 
PS: final update

Lost 100% of my investment.
Not gonna do it again
LoL,

Mods please add this to my main post if possible.
 
randomstrings said:
PS: final update

Lost 100% of my investment.
Not gonna do it again
LoL,

Mods please add this to my main post if possible.
Click to expand...

What if the bot owner took your $?

Couldn't they reverse trade you and simply take your $ as profit?
 
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