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#跟单日记 Can you make money by copying trades in the crypto market?
Nowadays, every exchange has a copy-trading feature. Open an exchange’s copy-trading page and you’ll see “profit of 500% - 1000% per month” all over the place from trading experts. Newcomers can’t help but feel itchy—this feels like you’ve found a wealth code. You don’t need to learn trading skills; just click a button and you can lie back and earn money.
The truth is, you think you’re just doing homework, but you might end up copying a trap that someone else dug for you.
Copy-trading is basically futures trading. When you see so many “celebrity traders” on the ranking lists, it’s hard not to feel the urge to copy.
For top exchanges it might be okay, but for those unknown exchanges it’s different. Their data is designed to make you see what they want—and to gain your trust.
There are two income sources for “copy-trading teachers.”
1. Trading fees (fanyong). If it’s normal trading, it’s fine. But some people will frequently lead others to trade from below—because every time a trade happens they can earn commission, and they don’t care whether the people below can make money.
2. Taking the customer’s loss (eating losses). This only exists in unknown small exchanges. They’ll agree with the exchange in advance on a partnership, then split the profits. That’s also why when copying with small capital you tend to make money; once your capital size grows, losses become the main reason—so you end up hearing all the time about some small exchange “running away with the money.”
There are also some copy-trading teachers who operate with two accounts at the same time: one account goes short, the other goes long. That way, no matter which direction the market moves, they won’t have losses—but they do earn the trading fee commission. Then whichever trade is “right,” they’ll post that order on their social circle. That’s why every time you see copy trades they’re profitable ones—using this method to attract more total beginners to copy-trade.
Copy-trading also has a major downside: timing issues. For example: if Bitcoin goes long at 80,000, the leader enters first. People who copy later will enter after the price has been pushed up, so the later you enter, the higher your cost price. If it uses 100x leverage, then when the price rises by one point, it gives a 100% return. When closing the position it’s the same: the leader closes first, and the later closers get a lower price. This causes the later closers’ profit to shrink, and in some cases they may even lose money.
So copy-trading must be done cautiously. Playing around with small capital is fine, but the larger your capital, the greater the risk. The chance of making money by copying trades is just like gambling in a casino.
The analysis above only represents personal views and does not constitute any investment advice.
Now, most exchanges have a copy-trading function. When you open the exchange’s copy-trading page, the whole screen is filled with “monthly profits of 500%-1000%” from so-called trading experts. Newcomers can’t help feeling itchy—like they’ve found a wealth password. You don’t need to learn trading skills; just press a button and you can lie down and make money.
The truth is that you think you’re copying homework, but you might end up copying into a trap set by someone else for you.
Copy-trading is basically futures trading. When you see those “celebrity trader” ranking lists, it’s hard not to feel impulsive to copy them!
However, the top exchanges are at least somewhat different. For those unknown exchanges, it’s not the same—they design the data to make you see it and earn your trust.
The “mentors” who lead trades have two income sources.
1. Trading fees fanyong. If it’s normal trading, it’s fine, but some people frequently lead others to trade. Every time they trade, they earn a commission markup. They don’t care whether the people below can make money.
2. Taking customer losses. This only exists in small, untrusted exchanges. They agree on cooperation with the exchange in advance, then they split the profits. That’s also why copy trading with small capital will often make money; once the capital size increases, the main reason they start losing is that. So that’s why you often hear that some small exchange “runs away” or stops operations.
There are also some trading mentors who use two accounts—one places a short, the other places a long. That way, no matter which direction the market goes, they won’t lose. But they still earn the trading-fee commission markup. Then they’ll only show off in their朋友圈 whichever trade is correct. That’s why you usually only see the profitable trades, and this is how they attract more newbies to copy-trade.
Copy-trading also has a major drawback: timing issues. For example: if Bitcoin hits 80,000 and someone goes long first, then when copy traders enter afterward, they push the price higher. The later people enter, the higher their entry cost becomes. If it’s 100x leverage, then when the price moves up by just 1 point, they earn 100% profit. When closing positions, it’s the same—whoever closes first is the one who gets out at the higher price, and the later people close at a lower price. This causes the profits of later closers to shrink, and it can even lead to losses.
So copy trading must also be cautious. It’s fine to play with small capital, but the bigger the capital, the higher the risk. The probability of making money by copy-trading is basically the same as going to a casino.
The above analysis only represents personal views and does not constitute any investment advice.