Is copy trading a good strategy to adopt by new traders hoping to join the bullish market?

[Wakanda]

Over the last few weeks, the crypto market has shown a sign of what to expect in the next bullrun and there has been influx of money coming in especially from new investors and traders who took a bow during the harsh bear market in the last 30 months but currently seek to take advantage of the bullish market.

While this is a good time for 
 investors who have been steadily DCAing during the bear market, it could be a trap for short term traders looking to cash out on time 😂😂 hence the need to fine-tune the strategy been adopted at such a time like this. 

Is there a particular strategy you guys are using to trade futures ATM to minimize risk? Will like to hear from you.

[XTRAVAGANZA]

Aside from DCA, I also utilize the Bitget copy trading platform. I've found copy trading to be a highly advantageous strategy, especially for newcomers in the crypto space. The platform allows me to automatically replicate the trades of experienced and successful traders, leveraging their expertise to inform my own decisions. This not only reduces the learning curve for beginners but also provides a valuable opportunity to observe and understand market dynamics through the actions of seasoned professionals.

[Incarts]

10 minutes ago, XTRAVAGANZA said:

Aside from DCA, I also utilize the Bitget copy trading platform. I've found copy trading to be a highly advantageous strategy, especially for newcomers in the crypto space. The platform allows me to automatically replicate the trades of experienced and successful traders, leveraging their expertise to inform my own decisions. This not only reduces the learning curve for beginners but also provides a valuable opportunity to observe and understand market dynamics through the actions of seasoned professionals.

While it is important to highlight that the strategy that works for trader A might not necessarily work for trader B, I think the strategy you mentioned is effective to a large extent. Actually it is the main product that attracted me to the exchange being the largest Copy trading exchange in the industry. A highly recommendable tool that benefits both newbies and elite traders imo.

[Maxicreed01]

On 10/12/2023 at 12:15, Wakanda said:

Over the last few weeks, the crypto market has shown a sign of what to expect in the next bullrun and there has been influx of money coming in especially from new investors and traders who took a bow during the harsh bear market in the last 30 months but currently seek to take advantage of the bullish market.

While this is a good time for 
 investors who have been steadily DCAing during the bear market, it could be a trap for short term traders looking to cash out on time 😂😂 hence the need to fine-tune the strategy been adopted at such a time like this. 

Is there a particular strategy you guys are using to trade futures ATM to minimize risk? Will like to hear from you.

The simple answer would be copy trading or bot strategy trading cos virtually all elite trader are  good at trading and copying their open positions could be more rewarding. 

[Imam]

On 13/12/2023 at 03:48, Maxicreed01 said:

The simple answer would be copy trading or bot strategy trading cos virtually all elite trader are  good at trading and copying their open positions could be more rewarding. 

I'm sorry but all elit traders aren't good enough... You have to conduct research before following any of them otherwise washing out your PF wouldn't be that hard😑. It's true that Bitget has the best copy trading feature but we have to find the best elit trader on our own!

[Imam]

On 11/12/2023 at 22:44, Incarts said:

While it is important to highlight that the strategy that works for trader A might not necessarily work for trader B, I think the strategy you mentioned is effective to a large extent. Actually it is the main product that attracted me to the exchange being the largest Copy trading exchange in the industry. A highly recommendable tool that benefits both newbies and elite traders imo.

Comrade ... DCA is universal 🙊...

But yup, it's true that, your strategy won't work for me(most probably). Imagine you're master at gann fan but Elliot wave works for me! I prefer depending on our own decision for trades despite copy tradings... But for newbies, Bitget's copy trading feature is 🙏...

[Jaja24]

Most times I wonder why traders gotta argue about this lol , I am a hardcore copy trader . I’m married with kids , got other offline jobs aside crypto. Definitely can’t spend my whole day staring at some charts , I rather copy from other successful traders and its been really helpful to me. Mehn! There are quite some good traders on bitget one could copy from. 
 

just do what works for you .. 

[Maxicreed01]

10 hours ago, Jaja24 said:

Most times I wonder why traders gotta argue about this lol , I am a hardcore copy trader . I’m married with kids , got other offline jobs aside crypto. Definitely can’t spend my whole day staring at some charts , I rather copy from other successful traders and its been really helpful to me. Mehn! There are quite some good traders on bitget one could copy from. 
 

just do what works for you .. 

Yeah, copy trading may not be for only newbies but for some of us that have daily commitments that would affect our constant monitoring of trades but it's still pertinent to note that it doesn't always guarantee profit cos elite trader can occasionally make wrong trading decisions. 

 

[Imam]

On 24/12/2023 at 06:55, Maxicreed01 said:

Yeah, copy trading may not be for only newbies but for some of us that have daily commitments that would affect our constant monitoring of trades but it's still pertinent to note that it doesn't always guarantee profit cos elite trader can occasionally make wrong trading decisions. 

 

That's why we have to do proper research first on elit traders. Have to check their trading history, margin size, winning ratio etc ... If that individual trader ticks all boxes then yup,can do it.