Is copy trading a good solution?

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greenhatworld

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For the beginners who don't know how to trade crypto, is it interesting for them to copy trading in some platforms?
 
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yes it can be a good idea if done right.And that's actually what 77% of people should be doing instead of gambling their money away.The trick is to choose right, there's a few good ones and a lot of bad but it's not impossible to make an interesting selection.
 
synciaguard said:
yes it can be a good idea if done right.And that's actually what 77% of people should be doing instead of gambling their money away.The trick is to choose right, there's a few good ones and a lot of bad but it's not impossible to make an interesting selection.
Click to expand...
Where can one find how to copy trades?
 
I think that to enter the market, you need to research carefully. It is not a game for the novice
 
Copy trading can be interesting for beginners, but it's not without risks. Just because someone else makes money trading crypto doesn't mean you will by copying them. Understand what you're copying: It's important to understand the reasoning behind the trades you copy. Don't blindly follow someone else's strategy.
 
For beginners, it might be safer to focus on learning about cryptocurrencies before diving into trading, even with copy trading.
 
maybe yes, i am a builder of expert advisors (automatic trading system), and the best option is make a own trading system
 
i dont know really unibot, im focus on more famous prop firm and brokers that accepts platforms like metatrader,multicharts,tradestation. Make a trading system isn't easy, the price for that isn't cheap and should be pass a lot of robustness test like whatIF, monte carlo, walk forward, i prefer make my own trading system for each client. The key is diversification in every thing (like the universe and the nature). So each trading system should have more markets and works with different timeframe. This type of trading system have cost more than 1-2k+ but worth it, because you can earn a lot of more. but you should have also more than 1 trading system, because maybe after 1-2-5-10 years this system will be broken but if you have other accounts/capital with others trading system, you can continue to grow your capital. the path is long and not easy, but the fruits will be very good and time will pay for everything
 
Dark Hat 007 said:
Where can one find how to copy trades?
Click to expand...
a simple strategy i invoked when copying trades is monitor whale wallets.
  • identify coins/projects you are interested in.
  • pull up dexscreener.com >> navigate to the coin.
  • scan for big volume transactions.
  • look at those wallets and just analyze what they're doing.
  • if you get a good vibe, add those wallets to a tracker app >> i like https://app.zerion.io/
  • monitor the activity and try to duplicate it.
  • extra tip: join the discords/telegrams of the coins they buy. 90-99% chance the wallet owner is inside. use this to gauge sentiment.
 
uncutu said:
a simple strategy i invoked when copying trades is monitor whale wallets.
  • identify coins/projects you are interested in.
  • pull up dexscreener.com >> navigate to the coin.
  • scan for big volume transactions.
  • look at those wallets and just analyze what they're doing.
  • if you get a good vibe, add those wallets to a tracker app >> i like https://app.zerion.io/
  • monitor the activity and try to duplicate it.
  • extra tip: join the discords/telegrams of the coins they buy. 90-99% chance the wallet owner is inside. use this to gauge sentiment.
Click to expand...
This is exactly what I was looking at doing making sure I choose a wallet that holds trades for at least a couple minutes then using unibot or similar to copy trade the wallet...
 
Copy trading could lead to big losses if you don't understand proper risk management techniques in trading.
 
Most people do some kind of copy trading. So it's not really a "solution". It's the norm.

In my opinion it's ok as long as you do your homework. Do you understand how the market works, or are you simply copying what others do? If you just copy stuff with no real knowledge, i don't think things will end up very well for you
 
There's a great platform that i use for copy trading. Its called zignaly
123.png

this is the performance for the past 4 months on my account.
Theres several traders to choose from. The one i follow is called "No_FUD_No_FOMO"
If you sign up with my link you'll get 25% off fees ;)

here it is - https://app.zignaly.com/invite
 
Copy trading is a good idea for beginners, but it can be risky if you follow the wrong trader. You could lose all your money. So, it's important to find a stable, reliable trader who doesn't take too many risks. Start by investing a small amount and watch their return on investment (ROI) for at least a month. If they perform well, you can consider investing more.
 
greenhatworld said:
For the beginners who don't know how to trade crypto, is it interesting for them to copy trading in some platforms?
Click to expand...
I don't recommend copy trading for beginner traders. It would be hard for them to understand the market while copy trading.
 
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