Copy trading V Self trading

[Kingstone]

The only sole purpose of trading is to make profits. Forex trading provides many ways of making money even for a novice trader. That is why Forex is regarded as one of the most lucrative ways to make money online but it comes with a cost. It is very risky. You have no control over the market moves and they can be very volatile at times. However, among the different ways, you can profit from are copy trading and self-trading (regular method).

It is not an understatement to say the Forex market is easy. You need to move from a novice to a professional and be able to read and understand the charts couple with some indicators to place your trades. People take their time to learn Forex snd they become a self trader. They bear their profits and losses by themselves. This is not an easy thing but most people prefer to trade by themselves than the second option; Copy Trading.

Copy trading implies that you make deposits into your account and comment with an expert trader to execute the trades. Each time the trader makes profits, you are also making profits and vice verse. To join copy trading, you will be provided either the trader's details about losses or profits. This will help you to make the right choice. This is an escape route for novice traders.


Which do you prefer?

 

[Victorial]

I am not a lazy trader and there is no harm in knowing how the market moves. Both methods are good but one is long-term and it can be very lucrative if you know it yourself. You can even make money from understanding price actions by teaching others how to trade forex or you can give signals out. Copy trading is for lazy traders who want to buy their way out. Hopefully, they won't get burned. It is relatively safe but not completely out of risk.

There are some brokers companies that do not allow copy trading and that is why it is preferable to learn forex trading. These expert traders make mistakes and they did not become an expert in a single day. It takes time. If they can do it, I can do it also and I believe with strong conviction

 

[Godson1]

There are lots to learn when it's come to trading. I think determination can make someone to be expert trader

 

[eldavis]

I don't know about others but personally speaking, I would prefer I do the trading myself and not rely on someone else, let's take away the trust factor, I want to have the skills myself so I can trade on my own and not having to rely on anyone, what happens when they refuse to trade? I would be stranded. Then there is the issue of you being cheated, I know of someone who paid a so called expert to help him trade, he keeps on complaining about how most of the times the person does not bring back returns with claims that Notting came out.

 

[moonchild]

Well, I see no problem in buying signals or copy trading when you're just starting our because with that you'll be able to make money for yourself and take care of your needs, some people have very busy schedules, they don't have time to sit by their charts and make decisions continuously, but you see when you're copy trading or buying signals, the other party will do everything for you, they'll make the decisions, sit by their charts and they'll send you a trade alerts, with SL, TP all you need to do is to enter take your profits and get our and if it's a losing trade you have your SL in place, and most of this signal services are cheap.

I mean that's what is meant by leverage, you leverage the knowledge of experts that are already in the game and make profits together, this things runs deep, without going through the emotional trauma that comes with trading lol, I really thought about this sometime ago and I couldn't see the reason why self trading is better than copy trading, because the end goal is to make money.

But hey, I might be wrong.

 

[Kingstone]

Well, I see no problem in buying signals or copy trading when you're just starting our because with that you'll be able to make money for yourself and take care of your needs, some people have very busy schedules, they don't have time to sit by their charts and make decisions continuously, but you see when you're copy trading or buying signals, the other party will do everything for you, they'll make the decisions, sit by their charts and they'll send you a trade alerts, with SL, TP all you need to do is to enter take your profits and get our and if it's a losing trade you have your SL in place, and most of this signal services are cheap.

I mean that's what is meant by leverage, you leverage the knowledge of experts that are already in the game and make profits together, this things runs deep, without going through the emotional trauma that comes with trading lol, I really thought about this sometime ago and I couldn't see the reason why self trading is better than copy trading, because the end goal is to make money.

But hey, I might be wrong.

Yeah, you are absolutely correct. There is no harm in buying signals or subscribing for copy trading. The ultimate goal is to make profits. People are quite busy with their schedules and the best way out is to buy signals or copy trading. I did not fully trust copy trading like buying signals. Buying signals are the best because I can opt to take any trade I want to and I can even take my profits before it reaches the profit target. I can even minimize the losses that I can make. But with copy trading, you have no option. You bear the risks and the profits.

Although I am learning how to trade and I a getting better at it, getting signals will boost my morale also.

 

[Deleted member 28127]

For beginners and intermediate trading, they can start by copy trading and follow expert trading to get a simple idea about how it is working or how are subsequences of making this choice or how this investment will stay bringing profits or suddenly reverse operation. Being an expert, copy trading will not be the ideal solution because you have acquired the required knowledge then you have one choice is self-trading. A beginner when doing self trading can commit many errors but an intermediate can do it whitout having problems.

 

[Chlamys]

I have heard many traders giving reasons like they don’t believe in a set of programs and can’t take risks with it and so, prefer manual trading. They are right to some extent but since the market is moving rapidly because of high volatility, making quick trading decisions has become a necessity. Sometimes, you have to make several decisions in a minute and this is not easy for everyone.
What is best for each one of us is to start as manual traders until we gain enough knowledge and experience of trading in the live market. After that, there is no harm in using an EA. The good thing is that we can customize our EAs in accordance with our trading requirements, which eliminates another reason why people don’t prefer using them. They say that one EA cannot fit every trader’s requirements. Yes, it can’t but when it can be customized to your needs, I don’t see an issue in using it.

 

[Zonked]

Copy trading can be a wonderful way to learn but one should know how to make use of it. If you leave your trades to be copied and are only concerned about the profits part then you are just wasting your time. However, if you try to be as involved as you’ll be when you are trading on your own, you can learn a lot of this. Do proper analysis and think what you can do if you were at this place and then see what professional trader has done on your part. Try to understand his moves and you can learn so much from that.

 

[Wharf]

I have never understood the reason why people choose copy trading. Your account is connected with the account of another trader, and whatever profits they make become yours, and similarly their losses become yours as well. Moreover, you can’t choose to open trades, since the process is automated in most platforms with an exception of a few. Copy trading in simple terms means that you are copying someone else’s trade. Whereas, self trading allows you to trade as per your rules, thus giving a sense of freedom. Those who love forex trading will most likely choose self trading.

 

[Deleted member 28127]

People think that the following expert transactions are most of the time winner and so do not think that this expert is a human-like us how could make false decisions at any time of the period of trading. I think etoro has such an option but you cannot stay hole life copy trading.

 

[JoeSeki]

I would always choose trading on my own instead of copying trades from others. It is possible to earn profits by copytrading but if you plan to stay in the market and make profits for a long term, learning the trading skills yourself is the best way. Moreover, even if you lose because of your mistakes you can at least learn a lesson but when you rely on a professional trader, you don’t want them to go wrong, which can make you really attached to the profits.

 

[Critomancy]

I can never be comfortable with copy trading unless I’m confident about the trader I’m copying from, which isn’t really possible because when we choose a trader, it is generally on the basis of little information they give us. They can provide a short biography about themselves or tell us a little bit about their trading style but no one gives you details about their strategy. Unless you haven’t tried and tested a strategy by yourself, how can you trust it?

 

[rextee]

As per me, copy trading is a good idea to learn how expert traders trade. When you have collected enough information about trading, start trading alone! I mean for how long will you keep paying someone a part of your profits. You have to decide when you want to take all the profit home.

 

[Torsade]

Is anyone actually copy trading? How’s your experience and which platform are you using for it? Please advise!

 

[Ponmo]

Beginners and intermediate traders can begin by copying and following professional trading to gain a basic understanding of how it works, the consequences of making this decision, and how this investment will continue to generate profits or suddenly reverse operation.

 

[Gastrolatry]

Is anyone actually copy trading? How’s your experience and which platform are you using for it? Please advise!

I have been copy trading for a while now. The experience has been good but it took me some time to get a hang of it. It’s not as easy as copying any trader with a profitable track record and seeing money roll in in your trading account. You gotta understand how it works. I personally use zulutrade, though there are many platforms you can try out.

 

[Peninsula]

Self-trading is a good way to learn and understand the market, but it is extremely dangerous. While copy trading is a simpler way to make money that can get you ahead in a shorter period of time.

 

[Asahi]

The better techniques you follow to survive in Forex, the better it will helpful for you. So, make sure your careful trading.

 

[Ivo Zetticci]

The higher the volatility is, the riskier the market is. Staying abstain from trading is the best option to survive while market volatility is ongoing.