Hi,
Like most newbies, I started by following public traders and using their signals. The experience was mixed - sometimes profitable, sometimes scammy. Some traders with tens of thousands of followers (on Telegram or X) and paid subscriptions turned out to be scammers. Meanwhile, guys with just a few thousand followers and free access had grate win rates.
To protect myself from scammers, at that time i didn't find a better solution than to start writing down forecasts and comparing them with results in my trading diary. That's how I learned their real win rates and discovered how some of them deceive followers.
So here is my first question: **How do you choose traders (or signals) you can trust?**
After 3 months of closely watching the market, I reduced my deposit for signals-copy-trading (kept only a couple of the most profitable ones) and began trying to make my own trading decisions. It's also sometimes profitable, sometimes not (and sometimes very not. In these cases I wanted to cry 😅).
While analyzing my November trading results, I started thinking: do i really need to continue verifying the results of traders I follow? And why am I still subscribed to those whose signals I no longer use?
This is my second question: **How many public traders do you follow and why? What do you get from them?**
My answer to myself was: I just want to know their decisions to understand market sentiment. I'm still learning how to use and correlate this data with price charts, but I feel this is valuable information. The more data i collect, the more valuable it becomes.
So, what do you think?
It would be great if you write your trading experience (years/months) in your answer, so i can understand my position compared to yours.
Have peace and profits, guys!