What is Copy Trading?

[Sincerem]

Copy trading is a deliberate arrangement that is being made by someone who is willing to trade to copy the signal of an experience trader to trade for the main purpose of generating profit. This is most done after a deliberate arrangement between both parties.

 

[Agbalagbaa]

Copy trading is for beginners that don't have experience on how to trade,you can copy the trade's of a professional that's how you can earn money, but I don't think that's a good idea.

 

[Smiles20]

This is a platform where by you are going to be copying the trades that somebody who you have presumed to be an expert is making . The system has made it in such a way that it is automatic.

 

[Planbizzle]

Copy trading is not a new method, as it has been used in forex trading since 2000, and now many traders are implementing copy trading in cryptocurrency trading.
Copy trading is a service that allows traders to automatically copy trading positions made by expert traders by linking their accounts. Every position taken by an expert trader is automatically copied to the copy trader's account. The amount invested in copy trading depends on two things: the amount bet by a copy trader, and the permissible percentage of the amount that can be invested in one trading activity, as determined in the platform's policies.
Profits of expert traders will get commission from novice traders, the risk of crypto trading is smaller than trading themselves, novice traders will learn how to trade and crypto trading strategies, but I don't really understand the disadvantages of using copy trading, maybe you can explain the disadvantages using copy trading.

In cryptocurrency trading, copy trading refers to the process through which traders systematically mimic the trades of other dealers, frequently with the aid of specialized software. By doing this, individuals can gain from the expertise and knowledge of great traders while also having the opportunity to profit from any possible gains.

 

[Mayorla]

Copy trading enable traders to automatically copy opened positions by other traders.

It links your account to the account of the trader you are copying.

Copy trading would allow more novice traders to be able to earn money while still learning the scope of trading. It's a great feature and I believe most novice traders would really enjoy it.