Is Copy Trading Profitable? Here's The Truth

[00:01] It's Feel here and in this video I'll be answering one of the most common questions I get from you guys and the question is, is copy trading profitable? Or maybe should you even try copy trading? Now I get these questions a lot

[00:15] from so many of you. So I've decided to make this video to tell you my honest opinion and teach you and educate you about copy trading. So, in case you're interested in going into copy trading, make sure you watch this video to the

[00:27] learning about copy trading in this video. And at the end of this video, you'll be able to understand whether copy trading is for you or not. And you trading is something that can be profitable for you. So, I'm going to

[00:40] start by explaining what copy trading is. So, what exactly is copy trading all about? Now, copy trading is a form of trading or maybe you can say strategy where you automatically copy or replicate the trades of experienced

[00:53] traders and platforms like Binance, buy Beats, Bing X, Bitsgate and so on. They offer features that allow you to copy the trades of other traders and make money for yourself. So, basically, you just go on any of these platforms I've

[01:07] trading account and you pick a trader you want to follow. Now if whether you will make money or lose money with copy trading, it depends on the trader you who is consistently making profit, you also make profit. And if you follow a

[01:22] trader who is consistently losing money, it means you also lose money. So I'm you can at least understand what copy trading is all about. Now to also go a things you need to take note of when it comes to copy trading on any platform.

[01:39] this means that once you set up your copy trading account on any platform, you don't have to do anything on your own side at all. All your trades are automated by copying any trade the master trader you are copying is taking.

[01:53] That is what automation in copy trading is all about. You just need to set it up thing. Now the second thing you need to take note of is proportional investment. Now this means that your trades are executed based on the proportion of your

[02:07] allocated funds. Now let me explain this. So let's say for example you put like $1,000 as the total amount of money you want to use to copy a trader. Now if that trader is using 10% of his total money to enter a trade, it means you

[02:20] also copy that trade with 10% of the money in your copy trading account. So that's 10% of your $1,000. So I hope you get it. So let's for example the trader you are copying has let's say $10,000 in his wallet. If that trader is using

[02:33] let's say 50% of his money, that's like $5,000 using to enter the trade. So that means that it is 50% of whatever you have in your copy trading account that will be used to copy that trade. So hope you get the logic. So that's the second

[02:45] third thing you need to take note of when it comes to copy trading is transparency. Now this means that you can view the performance history of any will really really help you to make sure that you are copying a trader who is

[02:59] making consistent profit. So if you go on any copy trading platform right now before you pick a trader to follow please check the performance history maybe in the last seven days in the last 30 days in the last 90 days even in the

[03:11] last one year you can check all of these details so that you know that you are consistent profit. Now the fourth thing you need to take note of when it comes to copy trading is profit share ratio. Now on some copy trading platforms when

[03:25] you copy a trader and you make a profit the trader gets a percentage of whatever profit you are making and that percentage can range from 5% to as high as 20%. But it depends on the platform that you are using. But most of the

[03:38] platforms that I've used have been 10% profit share for the trader I'm copying. So take note of that. So now that you know what copy trading is all about, the next thing is can you actually make money with copy trading? Now the simple

[03:51] answer to this is yes you can make money with copy trading but it is not guaranteed profit. Now let me explain. Now you see your profit in copy trading depends on the performance of the trader you are copying. And that was why I said

[04:04] earlier that if you follow a trader who is consistently making profit you also make profit. And if you follow a trader who is consistently losing money you also lose money. So, for those of you that watch my videos on copy trading or

[04:16] how to make money with copy trading on my channel, then you go ahead and do and then you come to me and be saying, "Oh, you lost money because of me. Please stop doing this." I've said it multiple times. If you lose money or

[04:30] make money with copy trading, it is not my fault. I'm not the trader you copied. So, if you make money or you lose money is from the trader you are copying. I make sure you take note of that. Whether you make profit or loss, it depends on

[04:43] the trader you are copying. Now the next thing I want to talk about is what are the risks involved in copy trading. Now you see one thing I always tell people is that copy trading can potentially make you a lot of money but you also

[04:55] need to understand the risk involved in copy trading. And I'll be mentioning some of the risk involved right now. Now the first risk involved is that profits are not guaranteed. See you need to know that you can't make profit every time

[05:07] Now, for example, I've tried copy trading on multiple crypto exchanges, and I even recorded everything. And I have multiple videos about copy trading of you watching this video, you must have seen them. And in case you haven't

[05:20] seen those videos, I'll put the link to the playlist in the description below. Now, in those videos, you saw that I made money from some and I lost money in I made money, some of you might start thinking that, oh, you go into copy

[05:33] trading now, you also make money because I made money. No, it's not like that. And moreover, making money from copy trading is not guaranteed. And also for those of you that only watch the videos where I lost money in copy trading,

[05:45] might start thinking that oh, if you go into copy trading, you also lose money. No, again is not like that. All you need to understand is that whether you make money or lose money, it all depends on the trader you are coping. Now, before I

[05:59] for a very good crypto exchange to make money as a beginner with crypto, then you should definitely check out the FX app. Now on the FEX app, there are crypto. Can make money with crypto via futures trading, sport trading, trading

[06:14] board, copy trading, crypto savings, launchpool, and so many ways. Now, I've been using this app for some time now, and it's really simple and easy to use, that you check the link in the description below to create an account

[06:27] on FX and start trading and making money with crypto. Now, let's get back into the video. Now, the second risk involved in copy trading is the blind trust. Now, when it comes to copy trading, it's all about copying a trader that you most

[06:40] likely don't know anything about or maybe a trader you have never seen in your life. So, it's all about trusting the trader to take good trades and to make you money. Now, the next risk involved in copy trading is the platform

[06:52] reliability. Now, you see, one thing I've noticed about the different crypto that not all of these exchanges are trustworthy and I will never post videos YouTube channel. You'll never see it. And that is why when people ask me for

[07:06] the best apps to use for copy trading, I just say go ahead and use the ones I those are the ones I can see they are legit and they are trustworthy. So trading playlist in the description below. So check it out and see the

[07:20] try out. So these are just some of the risk involved in copy trading. Now the next thing I want to share with you are the tips for successful copy trading. money with copy trading there are some things that you really need to do which

[07:35] I'll be explaining right now. Now the first thing is to research your traders. Now before you copy any trader at all on any platform go ahead and do your research on the different traders on that platform. You can check their

[07:47] history, how much they are making, how much they are losing and maybe you can they are taking and you can even check out the leverage they've been using for you check out everything that can tell you whether a trader is doing good or

[08:02] not. So make sure you do your research on every trader you see on any platform before you go ahead and copy. Now the second tip I'm going to give you is to don't put all your money into one trader. You can decide to distribute

[08:15] your money across different traders so as to mitigate the risk. So maybe you three traders and maybe you are following each trader with $500. Please make sure you do this. Don't try to say you want to put all your $1,500 into one

[08:28] trader. You can decide to distribute $500 into each trader and then you can from that. That will actually make you more money than putting all your money understand. And the third tip I'm going to give you want to make money with copy

[08:44] trading is to always set your own stop-loss and take profit. Now, I'm most of you already understand what I'm talking about. There was one of my videos where I didn't set take profit or stop loss in copy trading and I lost so

[08:57] trader. So please, if you are trying to do copy trading, always set your own takeprofit and stop loss. Don't say you want to rely on the take profit or stop loss of a particular trader. Even if that trader is a profitable trader, set

[09:10] your own takeprofit and stop loss. Very very important. And number four is to start small. Now what I mean by this is you can begin with a small amount of money to test the waters before you put in so much money into copying a trader.

[09:23] So in case this is the first time you want to try to copy a trader, please put in just little amount of money. Just start small and when you see how it is good you can now decide to put more money into it. And the fifth tip I'm

[09:36] going to give you is to regularly review your copy trading account. You can monitor the performance and make adjustments as needed. maybe once in a day or maybe twice in a day and decide to check your copy trading account to

[09:48] see if the trader you are following is making you money or is making you to lose money. Please always do that because there was a time I copied a trader and I literally forgot I was copying a trader and I did check it

[10:00] until after 5 days. So please make sure that you are always reviewing your copy trading account at least once a day. So these are just some of the tips I will give you that you can apply if you want to make money with copy trading. Now to

[10:12] the main question of this video. Is copy trading profitable? Now you see copy trading can be profitable but success in copy trading is not guaranteed. That's know. A lot of people think that if you do copy trading you must make money. No,

[10:27] with copy trading and you can become successful in copy trading but it is not in case you want to increase your chances of making consistent profit with

[10:39] copy trading, please just apply all the tips I've mentioned in this video. The traders carefully so that you don't pick a wrong trader to follow. The second thing I said don't put all your funds into one trader. And number three,

[10:53] always set your own take profit and stop loss. And number four, start small. And for number five, I said regularly review your copy trading account every day to that does it for this video. Making money with copy trading is all about

[11:07] being careful and making smart decisions. And in case you want me to I talk about trading bots, let me know in the comment section below. If I get enough comments, I'll decide to make a video and educate you guys about trading

[11:20] bots on different exchanges. So if you found this video helpful, please like YouTube channel. Again, we are trying to hit 200,000 subscribers. So, please share this video with your friends who are trying to get into copy trading. And

[11:35] trading like a business, click on the video showing right here. And in case trading rules you must follow if you want to become a profitable crypto trader, then click on the video showing right here. Thank you for watching. I'll

[11:49] right here. Thank you for watching. I'll see you guys in the next one. Bye.