The Best Trading Success: Strategies and Insights for Optimal Results

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I haven't really give trading much of a thought, but I just recently noticed that many traders, perhaps those who have had some lucky trades, are going around claiming to be trading pros. It's no longer about selling their signals; they're now relying on "copy trading platforms" to establish themselves.

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My recent interest in this discussion occurred when my cousin approached me yesterday, expressing his intent to send money to these so-called elite traders to trade on his behalf. While I'm more familiar with the space than he is, I decided to do some research before giving him advice.

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I understand how challenging and time-consuming learning to trade can be, often leading to people quitting due to the difficulty or financial losses.

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According to Lendingtree Statistics:

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From the statistics, we can see that only 6 percent of traders do not have fear in the crypto market. The rest either don't understand or have fear of going bankrupt on exchanges. However, that's not the focus of this discussion for now.

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https://preview.redd.it/68bbleknz9mb1.png?800&format=png&auto=webp&s=537bf5bd4e419397fa08606f37348e6c168fdf8f

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Another statistic has shown that only 28 percent have made money with sales, yet there are multitudes of people out there claiming they are better at trading than investing. We all know how easy investing could be, just a "buy low and sell high" strategy, yet people still lose money.

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Given these statistics, I have my reservations about traders on social media flaunting their profits and asking their followers or those who don't know how to trade to subscribe to their trades without showing their losses or making excuses when their trades go wrong. Some might suggest teaching my cousin to trade, but I'm an investor, not a trader.

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So, I'm curious to hear your thoughts. Do you really think copying from other traders is worth it? I'm not entirely convinced about it.