Why Mirror Trading Sucks

Mirror trading does not work for two reasons. The first reason and possibly the most important reason is that you learn nothing all you are doing is blindly following someone into a trade without knowing the reasons why they have entered the trade let alone why they have a stop loss at a given level and profit targets pre-determined. That is if you are even following someone who knows how to establish a trade plan.

Because you do not know what is truly going on with the trade plan you have no idea how to look for potentially early exit indicators that could save you a lot of money! You don’t know how to loot slowing volume, selling pressure, bearish engulfing candle patterns and more! That could indicate you to exit a trade early before it goes against you.

The second reason why mirror trading does not work is because by the time a trade alert is sent out especially if a stock has a very low float the price can move so fast that there is no way for you enter at or near the alert price. This now means if you chased it you are in much higher. Next comes the sell alert or the stopped-out alert this too will be an issue for you to sell at because of the delay between the alert price and the time you get it which could be a second or more and that makes a big difference in the world of day trading.

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