When you are new to the crypto market? Are you confused about transactions because you are afraid of losses? Do you need someone to mentor, guide, and impart trading experience? Do you want to maximize your profits as much as possible? Copy Trading will help you answer the above questions.
WHAT IS COPY TRADING?
Copy Trading on Binance is an automated trading system. This system allows users to join as a Lead Trader (LT) – someone whose portfolio other traders can copy, or join as a Copy Trader (CT) to copy Copy investment portfolios of Lead Traders.
Copy Trading is currently available on Spot and Futures trading.
HOW IT WORKS
LT creates and manages portfolios for CT to copy. CT will choose portfolios to copy based on their preferences. Through copying the trades of skilled and successful traders, CT can learn new strategies and potentially make profits.
Currently, Binance Copy Trading has more than 200 copy trading pairs and advanced features such as many order types: Take Profit / Stop Loss and hedging mode.
HOW TO BECOME A LEAD TRADER?
Binance Lead Trader enjoys several benefits including exceptional liquidity and a powerful order matching engine with minimal latency.
LT earns a commission from each copied trade consisting of 10% of CT's profits and their trading fees. Currently, Binance is having a promotional program for LT. LT enjoys up to 30% profits + 10% transaction fees from CT.
How to participate as a Lead Trader (LT) in Futures trading:
Step 1: At Binance Copy Trading Home Page, select [Apply now].
Step 2:
Enter your portfolio details including name and self description.
Choose a portfolio type.
Fill in the amount (USDT) you want to add for trading.
Note: The minimum required amount of USDT for Lead Portfolio is $1,000 USDT. The maximum amount of USDT participating is $500,000 USDT.
Confirm the information you have filled in and agree to the terms -> [Confirm].
Note: The created portfolio cannot be changed, so you need to read the recorded information carefully.
Step 3: To trade, select [Trade].
As a Binance Lead Trader, you will have access to an advanced set of Futures tools and functionality.
You can find detailed information about previous and current positions, position history,…
Positions: Current position information
Position History: Previous position information
Trade History: Position trading history
Transfer History: Currency conversion history
Copy Traders: You can find people who are copying your trades
You can also transfer funds and close your portfolio on this page.
When you close your portfolio, the system will automatically pay out profits and return all funds to your respective Spot wallet.
HOW TO BECOME A COPY TRADER?
You can start copying LT's trades with just one click. Note that 10% of your profits will go to LT.
How to participate as a Copy Trader (CT) in Futures trading:
Step 1: At the Binance Copy Trading homepage, scroll down to see the trading performance of all LT portfolios including metrics such as ROI and PNL.
You can also filter the homepage based on metrics like ROI and PNL on different time frames.
To get started just click [Copy] in the portfolio that suits your investing style.
Step 2: Select the type of transaction you want to copy and fill in the parameters.
There are 2 types of copying Binance trades:
Fixed Amount: Fixed Amount allows you to control the amount invested in each copied trade with prices as low as 10 USDT per trade.
Enter the total copy amount at [Copy Amount]
Enter the cost amount for each order at [Cost per Order]
Enter the total stop loss at [Total Stop Loss]
When your total portfolio margin triggers your stop loss, filling in this parameter will help you close the position at market price and automatically close your current portfolio for you.
Note: Moving funds while copy trade is running will change the stop loss amount.
Confirm information and agree to terms
In the advanced settings, you can also adjust margin mode, leverage mode, and access other features such as TP/SL position levels.
Fixed rate: Unlike the “Fixed amount” copying type, “Fixed rate” copies orders in proportion to LT's position size, just enter the total amount you want to invest Invest in [Copy Amount]. The copying process will stop when the total copy amount is exhausted. Don't forget to enter the total stop loss at [Total Stop Loss].
Suppose the LT you are copying invests $10,000 USDT and places an order of $1,000 USDT. If you invest a total of $1,000 USDT, the system will place an order of $100 USDT accordingly.
To find and manage copy portfolios you have created, visit [My copy trading page].
SOME FREQUENTLY ASKED QUESTIONS IN COPY TRADING FUTURES
Copy trading in cryptocurrencies can help beginners follow experienced trading experts in the crypto world, maximizing profits. However, it is essential to choose the right platform and reputable trader, understand the risks and diversify your investments. Wishing you successful trading!
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