Today I want to share a personal experience I had with copy trading on Binance Futures. Surely many of you will identify with what I am going to tell you.
When I discovered copy trading, I was filled with tremendous excitement. Seeing those incredible PnL (Profits and Losses) from the top-ranked traders makes you dream of getting rich overnight. 🤑 I confess, I even did my own calculations of how much money I would make in X days if I achieved such a percentage of daily profit! I thought about getting rich quickly, who hasn't? 🤷♀️
I started by trying several traders, following their "instructions" to the letter: "no stop loss", "trust my strategy", etc. At first, I simulated it for a couple of days, sometimes even a week, with minimal amounts of $200. Then, I dared to put in real money. And yes! A couple of times I had significant gains, even up to 70% in one operation! 🎉 The euphoria was immense, I felt like I had found the trick to making easy money.
But, as in every good "almost" story, the ending was not as expected. Eventually, all those traders ended up losing my money. 💸 My gains vanished, and with them, my excitement.
I tried to change my strategy, placing stop losses of 15% to 20%. I thought that would control the risk. But still, I would wake up in the morning and find the message: "operation canceled". 🤦♀️ My money kept disappearing.
In the end, I realized something very important: copy trading is essentially a kind of casino. You can win once, twice, or even three times, but if you leave your investment in someone else's hands, the day will always come when you lose it all. And that's why, after my experience, I do not recommend copy trading.
If you are going to trade in futures, my suggestion is that you do your own analysis, thorough and detailed. Don't blindly trust what others do. The responsibility for your money should be yours.
Maybe it was just my bad luck, who knows? 🤔 I would love to hear your experiences. Do you recommend it? Have you had success with copy trading or have you experienced something similar? Tell me in the comments!
