Could copy trading be the right option for new crypto traders?

[⭐ Raymond Blue]

With the alarming inflation rate globally coupled with the continuous downsizing of workers from various organizations which have significantly led to increase in unemployment rate, several individuals have now consider crypto trading as a viable option to met up their daily needs.

While crypto trading is a great way to kickstart one's journey towards financial freedom, it is important to note that it's not all bed of roses because statistics shows that 85% of people that venture into cryptocurrency trading without adequate knowledge always end up on the losing side hence the reason it is crucial to get the requisite knowledge before venturing into it.

Just like any other industry, crypto trading requires skills, commitment and dedication to achieve a resounding success but unfortunately, we are in a world where most people are always in a rush to achieve nothing. 

To succeed in crypto trading, one must necessarily have to master some skills like Technical Analysis, risk management, record keeping, control emotion, stay informed about market trend among others. All this are obviously too much to swallow for someone looking to make profits or earn a living from crypto trading hence the reason copy trading looks the perfect way for new crypto investors/trader to explore. This product offer newbies a 2 in 1 package where they earn and learn at the same time. It has proved to be efficient hence the reason many exchanges have now adopt it and make it an integral part of their platforms. 

Have anyone you tried it out? your contribution might be helpful for people looking to opt for the product.

[megamind]

In the year 2021, it was a great moment for me during the bullrun and I made a lot of profits. But I didn't know how to grow my funds when everything went down, I later lost everything I made and I'm trying to get back on my feet doing some research, so if anyone has any suggestion on better way to grow I've heard about people making profits from this copy trading of a thing but I'm yet to try it out, and I wouldn't mind getting into it as long as I know the drill, thanks, I'll be waiting in the comment section.

[Ryah Ojay]

14 minutes ago, megamind said:

In the year 2021, it was a great moment for me during the bullrun and I made a lot of profits. But I didn't know how to grow my funds when everything went down, I later lost everything I made and I'm trying to get back on my feet doing some research, so if anyone has any suggestion on better way to grow I've heard about people making profits from this copy trading of a thing but I'm yet to try it out, and I wouldn't mind getting into it as long as I know the drill, thanks, I'll be waiting in the comment section.

Copy trading is okay, but there are rules to it. I recommend exploring Bitget's copy trading feature as they provide the best experience, in my opinion. Familiarize yourself with it before getting involved.

[maxicreed]

11 hours ago, Ryah Ojay said:

Copy trading is okay, but there are rules to it. I recommend exploring Bitget's copy trading feature as they provide the best experience, in my opinion. Familiarize yourself with it before getting involved.

Yeah, but while the platform is good for copy trading, it's also good to to take into cognizance the following factors cos those elite traders are also human and could make some wrong move. 
1. AUM: this means asset under management. The larger the amount the better the elite trader

2. Winning rate: the trade successive winning rate is another factor cos that determines you chances of winning.

3.ROI: return of investment is used to measure the profit from a traders investment and should also be considered before copying trades from any elite traders