Hi Guys, I am curious if you guys can give me any idea about the copy trading if it’s really work or not and if it’s profitable for anyone please share your experience. I think it’s an marketing gimmick from the brokers nothing else most of the time you will lose money with copy trading.
What do you mean by “works”?
If what you copy isn’t profitable, then your copy of it isn’t profitable.
If what you copy is profitable and remains profitable, then your copy of it can in theory be profitable, depending on a few extra factors like how reliable your software is, whether you’re copying it on the same server as the source, whether the broker and prices and spread are identical, and so on.
What you need to ask yourself is why anything that’s profitable, that might actually stay profitable, would be available to you in the first place.
It definitely isn’t a substitute for learning to trade, or for self-responsibility, anyway.
Mostly, it’s just like signal services, just as deceptive and just as silly.
There are so many of these things about that naturally there are always some recently successful ones, but when you start to copy one of them, there’s absolutely no reason to expect it to stay profitable: it’s far more likely that some other one will be profitable instead. There’s no way of telling them apart, though, so that doesn’t help, does it?
Main point to understand: the currently successful ones are always the ones you’ll see promoted and displayed and discussed, but that’s about the (recent) past, not about the future, so it doesn’t really mean anything helpful at all.
If you’re not already a profitable trader to start with and wanting to use it between your own accounts, for some reason, then it’s really something to avoid, in my view.
I think that’s probably really your view, too, isn’t it?
What sort of copy trading, exactly, are you asking about, @saungary ?
If it’s something offered and/or supplied by a CFD broker, never lose sight of the fact that (even if they call themselves ‘STP’ or ‘ECN’) they are your counterparty. They win when you lose and lose when you win. Don’t assume that their “advice” or “services” are there to help you just because they’re good at making things look that way.
Asking this in trading forums is often kind of an invitation for people to send you private messages promoting some kind of service. Be careful!
I agree with you that it’s a marketing gimmick by brokers. I don’t think anyone’s profitable from it over the long term. Not much to add to the two helpful replies above, really.
Hey, I’ve messed around with copy trading before. Honestly, it’s kinda like gambling sometimes, you might hit a good run with a trader, but it can flip fast. I don’t trust it blindly; I still watch what’s going on and only follow people who seem consistent. It’s definitely not an easy win, and you gotta be ready to lose some too. For me, it’s more like a tool to learn than a way to make quick cash.