Here are some key things to know before investing in copy trading:

• Understand the strategy – Check the details of the trader’s strategy and make sure you’re comfortable with the assets being traded, risk approach, etc.
• Review trader’s track record – Look at their overall history of returns and losses over different time periods. More data is better.
• Analyze risk metrics – Look at metrics like the drawdown percentage and risk-reward ratio. Higher returns often mean higher risks taken.
• Check number of copiers – More copiers might indicate a popular strategy, but too many copiers can also dilute potential returns.
• Know the fees – Platforms and traders charge fees that will reduce your net profits from any gains.
• Be ready to act fast – Adjustments need to be made quickly in volatile markets to cut losses. Turn off auto-trading if uncomfortable.
• Diversify – Don’t allocate more than 5-10% of capital to copy trading and use multiple traders.
• Monitor regularly – Actively check your account and trader’s current positions. Withdraw if losses mount.

Do thorough due diligence as you are essentially handing control to someone else. Start small to test copy trading waters.