What is Copy Trading
- Thread starter sevenstarfx
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I think copy trading can be a good thing for beginners, only if followed cautiously. The market is constantly changing and what worked for them might not work for you or fit your risk tolerance. Personally, I would consider it as a complimentary thing while focusing on my strategy and investing my time to learn.
I completely I agree - copy trading is nice starting point. How do you balance learning your own strategy while following someone else brakes?
I think it's all about finding the right balance. I don’t blindly follow the copy-trading strategies. While following the trades, I keep a check on my analysis to see what is aligning and what is not. Helps me build my confidence and also learn from their approach.
Copy trading allows less experienced traders to replicate the trades of more experienced or successful traders. By mirroring their actions, either automatically or manually, followers can leverage the expertise of these providers to potentially achieve similar investment outcomes.
the same term, copy trading, can have a slightly different point..... one involving you and your accounts alone......
the goal in this case is to copy your own trades across your own accounts with different brokers using different platforms.....
tradovate, topstepx and other major platforms have completely free onboard trade copiers..... those are quite convenient.....
if the difficulty managing a single accounts trades could be considered x, managing two accounts would be far more than 2x..... with more and more the difficulty is almost parabolic.....
apex allows 20 accounts max, topstepx allows 5..... i truly doubt anyone could day trade 25 accounts individually..... especially when different platforms are involved..... if you could hold trades for weeks or months, maybe it could be done...... but many futures accounts are day trade only.....
platform included trade copiers help in this case..... they have limitations you must be aware of..... they are not set and forget..... be sure to verify all trades have closed and no pending orders are left at the end of the day....
of course many will wonder why have 25 accounts in the first place..... that's a good question......
there is a good reason..... which is why tradovate, topstepx amd others have free onboard trade copiers......
again, be sure to verify all trades have closed and no pending orders are left at the end of the day....
they are not set and forget.....h
the goal in this case is to copy your own trades across your own accounts with different brokers using different platforms.....
tradovate, topstepx and other major platforms have completely free onboard trade copiers..... those are quite convenient.....
if the difficulty managing a single accounts trades could be considered x, managing two accounts would be far more than 2x..... with more and more the difficulty is almost parabolic.....
apex allows 20 accounts max, topstepx allows 5..... i truly doubt anyone could day trade 25 accounts individually..... especially when different platforms are involved..... if you could hold trades for weeks or months, maybe it could be done...... but many futures accounts are day trade only.....
platform included trade copiers help in this case..... they have limitations you must be aware of..... they are not set and forget..... be sure to verify all trades have closed and no pending orders are left at the end of the day....
of course many will wonder why have 25 accounts in the first place..... that's a good question......
there is a good reason..... which is why tradovate, topstepx amd others have free onboard trade copiers......
again, be sure to verify all trades have closed and no pending orders are left at the end of the day....
they are not set and forget.....h
I agree with you entirely in this regard! How can copy trading be a smart move? While I am following others, it means I don’t have the ability to trade myself and I should know that smart people are self-dependent.
Let's suppose copy trading is the easiest way to trade, but we need to check an experienced trader's stats to see how they performed in the past year or month. So, my question is: How can someone replicate their strategy if they don't know anything about trading?
Copy trading lets you automatically replicate trades of experienced investors. It’s great for beginners or those short on time. Choose reliable traders, set limits, and monitor performance to maximize success.
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