Copy Trading for Newbie Traders

[ryuken]

I have seen some of the brokers these days offering the copy trading feature. This feature lets you copy the successful trades of the other users. this helps to make some money however not all the time it is going to be successful because the trades are time dependent. So I am not sure how the people these days are using that feature to make money.

Do you think copy trading is good for the newbie traders? if not, have you tried the copy trading feature from any broker? What are some of your experience about the copy trading, please do share it and let us what do you think about the copy trading. What do you suggest instead of copy trading?

 

[Decub]

Well, I never tried copy trading but I would say it is somehow good for the new trader depending on his learning capacity. It will also be worth noting that it might prevent some from developing their own strategies which hitherto might be better than that which they tend to copy from the better traders.

 

[Daisy]

You can do this on Etoro. Etoro is a huge brokers that have tons of copy traders and many do copy trades with successful traders on there. There are so many traders on there and you can watch how god they get. People copy them all the time. I would love to copy them too at some point if they're good but there are some pro traders on there how have past 95% successful trades all the time so that is quite impressive rate. I don't mind earning as long as they can trade well for me. I think its ok for newbie if they're too unsure of the market and want to earn some side money then why not.

 

[Decub]

You can do this on Etoro. Etoro is a huge brokers that have tons of copy traders and many do copy trades with successful traders on there. There are so many traders on there and you can watch how god they get. People copy them all the time. I would love to copy them too at some point if they're good but there are some pro traders on there how have past 95% successful trades all the time so that is quite impressive rate. I don't mind earning as long as they can trade well for me. I think its ok for newbie if they're too unsure of the market and want to earn some side money then why not.

Well, the much I know about etoro, they do not accept traders from all countries and mine happens to be one of them. At least, the last time I wanted to register through a ref link, they told me the country I'm accessing it from is allowed to. I wouldn't say taking that step for a newbie will be all disadvantageous but personally, I think it's wise enough to learn and develop our own skill and strategy.

 

[tray]

Yes to copy any kind of strategy in forex trading I think that the traders must chose a broker like etoro and other similar broker which just accept this type of trading style.
Sometime babypips do prove this also as good.

 

[Daisy]

As long as you make money from copying others than its fine. I think this is ideal for those who want some extra money and don't have the time to do it or don't have the motivation to learn all that is needed to trade or that they're afraid to trade or take risks or not good at trading then they can still make money. There are some traders on Etoro who have like 1000 copiers copying their trades and their success record is over 95% so very motivating to copy them. They must be pro trader to be that successful and their strategies must be really smart. I'm waiting for it to open to US residents and I will try to copy some cause I'm not having enough time to trade.

 

[Decub]

In my own opinion, copy trading will also make a new trader develop that liniency and unserious attitude towards Forecast since he has little or nothing to worry about. After all, he knows how he can always get analysis to trade which in a long run only makes him a Forex Zombie.

 

[jackcm]

This is what I read in Bloomberg:

Copying someone based on past performance can be dangerous, according to Raimund Saxinger, a fund manager at Frankfurt-Trust Investment GmbH, which oversees about $22 billion.

Profit doesn't show how professional traders because it depends on their strategies to win. Well everything always has both advantages and disadvantages, copy-cats don't need to analyze market but they must know who are great to copy.

 

[zef316]

Of course to copy about any strategy in fx trading business I do believe that which the traders need to chose a broker similar to etoro and other related broker which often only take such a trading style. Sometimes little pips accomplish very good and generate some good money.

 

[Decub]

This is what I read in Bloomberg:

Profit doesn't show how professional traders because it depends on their strategies to win. Well everything always has both advantages and disadvantages, copy-cats don't need to analyze market but they must know who are great to copy.

That's the point. A copy cat might only be good at making profits but the much I know is that they are never good in the business. Just as Saxinger stated, whenever that source becomes week, the trader will be an empty barrel parading himself as someone who is into Forex. This is always seen from the point of traders trying to make money and not trying to learn. They lay much emphasis on the profitability of the business and not the profession per se.

 

[haneefzain]

Copy trading is best option for those trader who have no time to learn and have no experience even no skills bout Forex..there is some brokers available in market offers this service and have a good success rate.But be careful every broker trade copy will not successful..

 

[Daisy]

Copy trading is best option for those trader who have no time to learn and have no experience even no skills bout Forex..there is some brokers available in market offers this service and have a good success rate.But be careful every broker trade copy will not successful..

I'm beginning to have less and less time so I'm thinking of copying traders on Etoro or Zulu. I do make good income and do know how to trade but I hit the bad market sometimes like lately with the US white house shut down some pairs are not performing so it has been hard lately. But I do not have a lot of time to trade and I miss the market opening so harder for me so I like to set up trades somehow.

 

[Pettyeve]

Copy trading for the newbie traders is good because it is able to help the newbie traders to earn money. When you have a good trader that you can copy from, it will make you to earn profit without having the trading knowledge. This thing encourage the newbie traders to trade in forex and make their own money.

 

[Decub]

Well, it's a good way to earn but not that much good way to learn for me. If my kind of person sees a very successful trader I can always copy, it automatically eludes me from learning how to analyze. I think getting anything out of Forex requires motivation.

 

[kasual]

Join social trading sites and conduct copy trading has been widely known. Newbies get easiness and able to make profit in trading without necessary to spend the time and effort into practice and learning. However, since we are work in forex trading for long period of time, better if we are start to develop trading skills and so, enabling us to conduct own analysis and make own trading decisions. I am sure such way sustainable more than traders just conduct copy trading.

 

[rexway]

Join social trading sites and conduct copy trading has been widely known. Newbies get easiness and able to make profit in trading without necessary to spend the time and effort into practice and learning. However, since we are work in forex trading for long period of time, better if we are start to develop trading skills and so, enabling us to conduct own analysis and make own trading decisions. I am sure such way sustainable more than traders just conduct copy trading.

yes not only through social trading but also through zulutrade its can be done that is true social trading will only bring us profit when knowledge is been exchange infact in social trading you still need to trade alone because what you need is nothing but experience but in zulutrade you need to try and just copy that is all

 

[Cutiekc]

yes not only through social trading but also through zulutrade its can be done that is true social trading will only bring us profit when knowledge is been exchange infact in social trading you still need to trade alone because what you need is nothing but experience but in zulutrade you need to try and just copy that is all

well, its quite not that easy even trading the copy trading thing. What matters is having the trading experience because even when you are trading the copy trade using a good traders signal. How do you know the trading plan. Therefore basical knowledge is needed first.

 

[kasual]

Easy indeed if traders just conduct copy trading. The largest social trading site is zulutrade and there, newbies can follow many of expert traders decision in trading. However, I am still stand on ideal fact that traders should take learning and gain knowledge in order to enabling them make own trading decisions. Conduct own trading will give satisfaction more than if traders just conduct copy trading.

 

[tray]

I did copy trading when I first joing forex trading newly but since I get advance I think I neglect copy trading and start earning from my own personal knowledge and skills which I learn and got from demo account

 

[kasual]

Copy trading surely easy and lead newbies to conduct live trading without necessary to spend the time and effort into learning. Well, basically that is newbies right and decisions. They can become skilled or keep being newbie for the rest of trading journey. In my point of view, better still if traders conduct learning and make themselves skilled as a trader.