Should I Try Copy Trading?
Should I Try Copy Trading?
Crypto can be a thrilling ride, but navigating the market waters can be tricky, especially for beginners. Who knew there was a way to learn from seasoned traders and potentially score some sweet returns at the same time?
Lately, I’ve been using a feature that lets me copy the trades of experienced investors. It’s been a game-changer! My portfolio’s looking good, and I’m gaining valuable insights into different trading strategies along the way. This has me curious – what are your thoughts on copy trading? Have you tried it? What’s been your experience?
I did tried copy trading but there are a few things to consider while you copy. The high ROI strategies gets our interest immediately but most of them are as a result of recent trend or trend reversal. You might have profited a lot with that strategy if you had gone with it a fe2 days ahead but now, it might have undesired trend reversal. This way you may lose. The risk is higher if you are going with leverage or futures trading.
I look for strategies that are doing well for over a month and don’t have very specific trend as it would be able to earn in both sideways and bullish market and I mostly avoid shorting.