has anyone had lots of success with copy trading? using vantage etc

[AlphaLonChan]

Looking through the numbers offered via copy traders on Vantage etc looks to good to be true? Does anyone have any experience?

 

[ThaddeusFinch]

When you see copy traders promising fantastic results on platforms like Vantage, it's a good idea to be cautious. Before jumping in, take your time to research, understand the risks, and maybe even ask for advice from experienced traders or read reviews from others who have used the platform. Remember, trading always has risks, so it's important to make informed choices.

 

[T_D_P]

hello, one way is to check the track record, at least >1 year of consistent results (better if profitable)

 

[T_D_P]

and yes, another way is to go small; diversify across top 10 signals, and focus on the growing ones (regardless of risk)

 

[AlphaLonChan]

Thanks I have gone ahead with your idea of putting a bunch of pots in place and seeing how it goes

 

[T_D_P]

You’re sincerely welcome.

Do note that it’s a shorter term trading signal service providers (and not FX or other asset classes)

 

[ThaddeusFinch]

I think that copy trading will not make you a real trader. Such trading teaches absolutely nothing, you just repeat someone else's actions, and mindlessly. When you receive signals to buy or sell, you will not know according to what strategy they were formed and according to what rules and conditions. In other words, you did not know how to analyze the market, and you will not be able to do it. And such a person can hardly be called a true trader who does not depend on anyone in his earnings and can earn money with his mind and experience.

I agree with you to some extent. In my opinion, it's only dangerous if you don't know what you are dealing with. There is a higher possibility that you will get scammed. But if you know what that code is, how it is working(to some extent at least) then I think it's way better than just simply trading.
Imagine being a trader and having the tools to use automation and AI and run your strategy 24/7 on a VPS. Pretty dope huh? But I strongly disagree with mindless following of people who try to sell you EAs that might or might not work.

 

[ThaddeusFinch]

The problem is that this coolness is often heard only from the lips of sellers of such systems, but in reality it can show completely different results. And if you think about it, who would sell a super-profitable system if it was so cool and in 24/7 mode really earned money for its owner? Have you seen anyone selling their super-profitable business? What's the point?))

super-profitable? Well, I never said that. I think you are misunderstanding what I'm saying here. Let me rephrase.
Alright so, what I'm trying to say is that EAs or Automations are basically trading strategies that a trader developed and a programmer wrote. You will be as much profitable as your trading strategy is valid and profitable.

I never trust high-return promises, because it would rise my suspicious by a lot. And yes, there could be a lot of people out there looking to find vulnerable people to manipulate, and their victims are the ones with least knowledge. That is exactly why I haven't done it myself, because I lack the knowledge to understand its system. If I can't understand it, I wouldn't know if I'm being scammed or not. But that doesn't mean it's all a hoax! That's like saying cryptocurrency is a hoax. If you believe that, than I'm sorry I have to break it to you this harshly, but you are an idiot.

Also, regarding why people would share it. Umm, I never said that, because if you are good at something never do it for free, and people will not do it for free. Anything that comes free in this world would end up bad for you. So, people who code these EAs, tend to sell them for a price. It could be monthly or annual, or even life-time.(Don't trust the life-times because no trading strategy could work for a life time and EAs as I said are trading strategies written in computer language.) Also, some of them might partner up with broker, like an affiliate program where they invite traders and get a commission. So, they are both selling it for a price and also receiving an extra commission on their trades as well.

 

[Zerologic]

I once tried subscribing to copy trading, but ended up draining out the funds in the trading account, now I mostly trade manually, relying on my analysis, with all the profits and losses that occur, handling my account is more comfortable to manage risk.