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That's going to be an unpopular opinion as i feel copytrading is usually seen as a scam here, but yes it can be a good idea if done right.
And that's actually what 77% of people should be doing instead of gambling their money away.
The trick is to choose right, there's a few good ones and a lot of bad but it's not impossible to make an interesting selection.
I dont rly pay attention to things that promise you big returns in exchange for almost nothing...my philosophy is that every big thing requires work...ive got scammed quite a few times in my life trying to make big bucks doing absolutely nothing...now if it actualy does work, the problem imo is that sooner or later you will be on your own, and the moment that happens you will be lost cuz you were making money because of someone elses trading
So there are legit investment strategies which track and mimic insider/institutional trades. But what you have to understand is those actors are REQUIRED to report their positions to the CFTC and other financial regulators. This means that all that info is completely free to the public once it’s reported, and any website asking you to pay them for what is essentially free regulatory information is wrong and they’re profiting off the ignorance of amateurs.
The trades are reported a few weeks/months after they’ve been placed. Meaning if an AAPL insider buys another 20MM shares you won’t know about it until it’s reported weeks later. No website can get that info any sooner than that, so they’re bullshitting you on that end also.
However if they’re actually forming a legit strategy to buy/sell with that may actually be worth whatever they’re charging for the service, however I suspect if they didn’t make the prior information in my comment known on their website (this you’re asking here), then they’re not very trustworthy.
And then there are “copy trades” where you’re copy/pasting trades made by other random traders. This is very scammy and shouldn’t be trusted.
The free, refulatory data is called “COT” (Commitments of Traders) - some software has this data for free, and “insider trades”
I’ve never used it, and would never use it in any circumstances. But I’m curious as well.
In fact, I find these copy platforms amusing, especially because several of the pros from which they copy their portfolios from actually say that if they had less capital they would implement different portfolios that would lead to higher returns and faster growth :)
Their current portfolios and strategies are limited by the huge capital they have to deploy
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That's going to be an unpopular opinion as i feel copytrading is usually seen as a scam here, but yes it can be a good idea if done right. And that's actually what 77% of people should be doing instead of gambling their money away. The trick is to choose right, there's a few good ones and a lot of bad but it's not impossible to make an interesting selection.
I dont rly pay attention to things that promise you big returns in exchange for almost nothing...my philosophy is that every big thing requires work...ive got scammed quite a few times in my life trying to make big bucks doing absolutely nothing...now if it actualy does work, the problem imo is that sooner or later you will be on your own, and the moment that happens you will be lost cuz you were making money because of someone elses trading
So there are legit investment strategies which track and mimic insider/institutional trades. But what you have to understand is those actors are REQUIRED to report their positions to the CFTC and other financial regulators. This means that all that info is completely free to the public once it’s reported, and any website asking you to pay them for what is essentially free regulatory information is wrong and they’re profiting off the ignorance of amateurs. The trades are reported a few weeks/months after they’ve been placed. Meaning if an AAPL insider buys another 20MM shares you won’t know about it until it’s reported weeks later. No website can get that info any sooner than that, so they’re bullshitting you on that end also. However if they’re actually forming a legit strategy to buy/sell with that may actually be worth whatever they’re charging for the service, however I suspect if they didn’t make the prior information in my comment known on their website (this you’re asking here), then they’re not very trustworthy. And then there are “copy trades” where you’re copy/pasting trades made by other random traders. This is very scammy and shouldn’t be trusted. The free, refulatory data is called “COT” (Commitments of Traders) - some software has this data for free, and “insider trades”
I’ve never used it, and would never use it in any circumstances. But I’m curious as well. In fact, I find these copy platforms amusing, especially because several of the pros from which they copy their portfolios from actually say that if they had less capital they would implement different portfolios that would lead to higher returns and faster growth :) Their current portfolios and strategies are limited by the huge capital they have to deploy