copying successful traders

[Anonymous No.16609453]

My intuition tells me this probably is a bad idea.

This probably doesn't work, but...
...you know on Bitmex, eToro, popular exchanges...many of them offers a "top trader list" which you can pretty much follow.

So you see historical successful trades of these traders...why not just copy them?

I know this is a bad idea I just can't explain WHY?

If one would say "hurr that is just luck"...really though? There are some people who are consistent. The luck would mean people cycle through each time, it would not bee as stable.

[Anonymous No.16609472]

>>16609453
because they usually own multiple accounts for hedging
for example Alameda Research owns more than 10 Bitmex accounts

[Anonymous No.16609495]

never confuse a good trader with a bull market.

[Anonymous No.16609513]

A rising tide lifts all boats.

Also

Hindsight bias
Lookback bias
Monkeys on a typewriter analogy
And historical performance do not guarantee future profit.


Now have a look at JamaiCoin please

[Anonymous No.16609552]

>>16609472
ah yes, that was the argument I thought in mind, but did not write down.


But how does this works exactly?

>>16609513
>Monkeys on a typewriter analogy

Yeah, this doesn't work out. Those site don't have trillions of monkeys. If it was pure random then they would exchange all the time, but there are some certain leaders which just do well on a long time for long enough it to not be "random luck".

[Anonymous No.16609571]

>>16609513
>JamaiCoin
Baron Samedi approves

[Anonymous No.16609577]

>>16609453
>So you see historical successful trades of these traders...why not just copy them?
Because this isn't the stock market. This is the backalley craps game, where you don't know if those accounts are legit, belong to the exchange and are part of the wash trading they do, or an account of a eastern european drug cartel member who's using Bitmex to launder coins.
When you get it through your head that crypto is a manipulated, corrupted mess, you'll understand that applying anything from the real market traders is utterly pointless and naive.
When a company bringing a crypto ETF to market (well, trying and failing), and tells the FTC that "95% of all crypto transactions aren't legitimate, but we'll only deal with the legit 5%, pinky swear!", you know it's incredibly dumb to think of crypto as anything more than the world's biggest scam. You can't take what someone like Warren Buffet does, and apply it to bitcoin. At all. Buffet invested in companies with proven tangible assets and products. You're "investing" in a line on a graph going up, or down, with no fucking clue why it's moving.
Stop being dumb. You're not a trader. You never will be, if you keep fucking around with crypto.

[Anonymous No.16609591]

>>16609552
professional traders don't just gamble on a single direction
instead they place multiple positions based on probability and re-balance each day

[Anonymous No.16609592]

>>16609577
>Because this isn't the stock market. This is the backalley craps game, where you don't know if those accounts are legit, belong to the exchange and are part of the wash trading they do, or an account of a eastern european drug cartel member who's using Bitmex to launder coins.

But you can literally see their historical successful trades...

[Anonymous No.16609688]

>>16609592
I'm not going to repeat what I already posted, dummy. Stop being dumb.

[Anonymous No.16609713]

Just do this

[Anonymous No.16609983]

>>16609688
>>16609577
your doesn't hold water, because same feature is offered by eToro for legit stock trading. And you think it is only on crypto exchanges. Nope

Even tradingview has that feature

[Anonymous No.16610027]

>>16609453
How about you look at shitty traders and do the opposite of their trades?

[Anonymous No.16610073]

So can anyone legit tell me why this won't work?

[Anonymous No.16610151]

>>16609513
>speaking exclusively in aphorisms
the absolute state of boomers

[Anonymous No.16610204]

>>16609453
Coinmetro will literally add this feature next week where you can not just copy but do the exact same thing they do.

[Anonymous No.16610598]

>>16609713
fukin kek