anyone using copy trading?

[nattekut]

Hey guys, 

I was wondering if some people around here are using a copy trading service to let their trading accounts managed?

Everyone or at least 90% of the crypto community got scammed in a certain way in the past. Every day you see popping up new 'investment sites' that trade on your behalf and you receive a daily return. But 99% of this sites just are HYIP sites scamming money out of the pocket of innocent investors.

I learned it the hard way myself and think I almost lost 50,000$ in several such projects in the past. But since then I learned trading myself. 

 

Trading and making money is a long term process and this is something that needs to be fit in peoples mindset. Why join things that offer insane returns and loose your money instead of doing something that lets your capital grow 10-20% every month?

There are ways to do this and one of them is copy trading. Lots of people do not have the time to trade themselves or do not have the patience to do so. I think copy trading is the perfect way to make some passive money. 

Its very easy. Link your personal account to a traders master account with API keys. As soon as this is done trader just trades with his personal account and all trades get automatically copied in your account.  Easier and safer than this it can't get. You have someone managing your account without he can access your account or funds

[Snike]

He cant access your funds? You sure about that?... If you have 10k USD$ in your account and he opens a long for 10k USD$ you have no control about where his stop loss or what ever is set at. He has the full power over all your account. Its like giving someone money to trade for you. 

-1, would not recommend doing this. Despite the fact that some of these trader masters have huge amounts in their accounts, amounts you would have to scale down to use on your behalf.

[nattekut]

17 minutes ago, Snike said:

He cant access your funds? You sure about that?... If you have 10k USD$ in your account and he opens a long for 10k USD$ you have no control about where his stop loss or what ever is set at. He has the full power over all your account. Its like giving someone money to trade for you. 

-1, would not recommend doing this. Despite the fact that some of these trader masters have huge amounts in their accounts, amounts you would have to scale down to use on your behalf.

yeah of course. you shouldn't let your account handled by an idiot. People need to do their own research on past performance of the trader they want to link too. Myself I offer a copy trading service for binance and Bitmex for my offline contacts and investors. And I will never go Allin on a trade. that's just insane to do so. I sometimes place 10k orders long or short but thats just a fraction of my balance. And the trades gets copied to my linked investors accounts according to their own account. So if I take a trade of 10k with a 100k account then in a follower 10k account it will take a 1k trade.

But as you say. trader doesn't have access to the funds to withdraw but indeed is in control of the account. But thats why I said never to copy or follow a trader blind fully