A buddy of mine found this trading channel online and can't stop bugging me to check it out. Honestly, I'm not into copy trading at all. From what I've read here, it can lead to some nasty outcomes, like getting liquidated or making errors. So my question is, do you have to use the same amount as the person you're copying?
Is Copy Trading Worth It?
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The key to copy trading is getting the direction of the trader right. Once you do, your trades will mirror theirs. You can use any amount you like and choose your use too.
Risk management is key even with copy trading. Most of us won't have the same account size as the trader we're copying, and trying to match their lot size is just asking for trouble. Like if you copy someone using a 50 lot size with only $100 in your account, you're done for.
Why not just learn to trade yourself? I mean, give it a shot. If it doesn't work out, then you can consider copy trading.
And no, you don’t need to use the same amount as the trader you're copying, but reasonable amounts are good to make some profit and afford the subscription.
LuckyDeg3nFull Member
Posts: 227 · Reputation: 408
#5Sep 21, 2018, 04:11 PM
Honestly, copy trading seems pretty unhealthy. There’s a ton of manipulation, misleading stats, and potential pump-and-dump schemes. If someone’s really successful, they wouldn’t need a crowd of followers to make money.
quantumseedMember
Posts: 27 · Reputation: 186
#6Sep 21, 2018, 05:17 PM
Never been a fan of copy trading. It just seems way too risky. People overlook account size all the time. Trying to copy someone with a million-dollar account when you only have a hundred bucks? That’s a recipe for disaster.
Copy trading can be risky, but if you're careful, it won’t necessarily ruin you. Just know the risks and don’t blindly follow someone just because they’re making money.
Copying a pro trader's long-term strategy is great, not just their short-term gains.
I don’t use copy trading; I prefer my own setup. But for those who don't want to trade themselves, following a good trader is a decent option.
Copy trading isn’t as straightforward as it seems. Imagine someone has a PnL of 529% over days. If you copy them, but the market shifts, you could end up with a loss even when they’re still in profit.
Best bet is to learn how to trade.
Copy trading might not be super popular here, but let’s be real. It can help you learn from the pros and save time. Just be careful about your capital; you might risk more than you’re ready for.
I tried copy trading in forex, and it ended badly because I didn’t know how to pick good traders. Now I avoid copy trading. It feels better to trade based on my own analysis and improve my skills.
AtomicBridgeMember
Posts: 128 · Reputation: 201
#11Sep 24, 2018, 10:12 AM
You don’t have to match the trading amount of the person you’re copying. Just use what you can afford to lose. Trading with a small amount is smart since you never know if the trader knows what they're doing.
real_protoNewbie
Posts: 200 · Reputation: 14
#12Sep 24, 2018, 04:21 PM
Surprised nobody has answered your question yet.
You don’t need a 1:1 ratio in copy trading. Brokers have safety features, and some won’t let you copy like that.
Copy trading just isn’t for me. I’d rather take losses on my trades than risk my funds on someone else’s strategy. I can’t stand the thought of my account getting blown up because I followed someone else.
Copy trading has its perks, but it’s not a walk in the park. You gotta monitor and adjust strategies, so you can’t just set it and forget it. Some knowledge is still needed.
It’s kind of healthy? I mean, some people claim to profit from it. But I’ve seen accounts wiped out after someone copied a trader's live session. It can happen to anyone, so be cautious.
nick.orbitFull Member
Posts: 239 · Reputation: 446
#16Sep 29, 2018, 01:01 PM
Copy trading is like cheating in an exam. You might think you're getting an easy pass, but it can trap you psychologically and financially. If you know the basics, you realize copying others might not be the best route.
Ever wonder why copy trading isn’t super popular? Exchanges love those trading fees. But seriously, everyone has their strategy. Your friend should learn to trade first, maybe with a demo account.
It could work if you’re following a solid trader, but is it sustainable? Newbies might find it easy, but they should still find their own strategies to avoid relying too much on others.
quantumhashNewbie
Posts: 78 · Reputation: 29
#19Sep 29, 2018, 10:19 PM
Trusting your copy trader blindly is risky. If they mess up, so do you. I think learning to trade is better than just relying on someone else’s decisions.
From my last experience with copy trading, I tried 5 traders and only one was profitable. So nope, you don’t need the same amount as the trader. Most platforms have features like stop losses to manage risks.