Copy Trading is either beneficial or not.
)
In short time, it is beneficial. Newbies comes in crypto market without any prior knowledge and skill. For such user it is a good idea to follow the trade of experience traders and earn some decent profit. Remember there is risk involved in any trading. Copy trading has comparatively lower risk due to knowledge and skill of expert trader.
Copy trading is good for traders who don't have enough time to read the technical analysis, charts, market report. It ease their life. It saves a lot of time and efforts.
Another advantages of copy trading is that you can follow the trades of multiple experience user which eventually diversify your portfolio.
Beside all the pros of copy trading, there are couple of cons. in copy trading which also keep in mind to start copy trading.
Copy trading make you lazy. It may earn decent reward for you but it will never help you to enhance your trading experience and skill. Copy trading stop learning new skill and ideas as a result it restrict your self belief and knowledge which will not build you a good future trader.
Although there is less risk involved in copy trading but it does not give you guranttee of getting profit all the time. We all commit mistakes, Even an experience traders may commit mistakes which may give you big loss. If you commit loss at your own decision it will help to learn new idea.
Overall, we can say that copy trading is useful for new traders who have no prior skill and knowledge of trading, but at the same time it restrict you from learning new stuff like do your own research, market report and technical analysis. These things are necessary if you want to prove your a decent trader. In other word copy trading is killing talent.
There is no issue if you use copy trading but remember try to improve your knowledge and skill beside using copy trading. It may help you to become a good future trader. Learning experience not only increase your skill and experience but it also help to enhance your confidence. So, never restrict your thinking. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
I heard about copy trading. But i just normal trade, im not tempted by all this. As its not guaranteed win
About three months ago today, a friend of mine joined an online academy where he was taught TA, then my friend told me that those people are making him do copy trading and he also told me that this is a very useful thing because you can learn a lot without lose.
Your trades depends on your luck , That's my point of view. How someone else can play on your luck ? It a new thing and no doubt it will catch attention of many. But will it be successful for time to come ? that's the quesiton .
In my point of it is successful as long your learn by yourself.