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How to Use Copy Trading on Binance Futures?
2023-08-22 04:13
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1. Log in to your Binance account and go to [Trade] - [Copy Trading].
2. Select [Futures] on the top tab, choose a portfolio, and click [Copy]. You can sort and filter portfolios by:
Timeframes: 7, 30, 90 days’ performance
Lead trader performance metrics: ROI, PNL, MDD, AUM, Copy Traders, Copy Trader PNL, Sharpe Ratio
Advanced filters:
Lead Trader Tags
Custom Lead Trader Performance Metrics: PNL, ROI, MDD, # Days Trading
[Lead Trader’s Margin Mode]: You can follow the lead trader's margin mode or set a fixed margin mode.
[Fixed Margin Mode]: Select either the Cross or Isolated Margin mode.
Leverage
[Follow the Lead Trader]: Follow the lead trader's leverage.
[Fixed Leverage]: Select from 1x to 10x leverage.
Note: When editing leverage settings during copying, the leverage might fail to adjust if there are open positions.
Take Profit and Stop Loss
After successfully copying a position, the system will automatically place a TP/SL order for that position.
Tips:
Editing TP/SL in the portfolio settings will apply to new positions only.
Canceling the TP/SL in the settings during copying will not cancel existing open TP/SL orders.
Enabling the TP/SL after starting copying will not create TP/SL orders for existing open positions.
Once the TP/SL order is placed, it won’t be updated or canceled by the system if a position is added or partially closed.
Copy traders can edit open TP/SL orders via the open position page.
Maximum Cost Per Order
When the contract order cost reaches the maximum ratio, the system will place an order using the maximum order cost.
Portfolio Stop Loss
When the overall portfolio margin reaches the portfolio's stop loss point, all active positions will be closed at market price. Subsequently, the portfolio will be closed, and the remaining funds will be automatically transferred back to the user’s Spot Wallet.
The stop loss amount will be updated based on the percentage of the margin balance when a transfer or edit portfolio action is conducted.
Example:
User A copied a portfolio with 100 USDT and set 60% as the portfolio stop loss rate. In that case, the stop loss amount would be 100 * (1 - 60%)= 40 USDT. When the margin balance falls below 40 USDT, the stop loss will be triggered.
Please note that the stop loss amount (40 USDT) is only a trigger amount. The final amount of USDT to be received is subject to market conditions. It is possible that the user’s total margin would be lost in extreme market situations.
For example, if User A transfers out 50 USDT and the margin balance remaining in the copy portfolio is 160 USDT, the stop loss amount will be adjusted to 160 * (1 - 60%) = 64 USDT.
4. Read and agree to the service agreement, then click [Copy] to start copying trades. The investment amount will be transferred from your Spot Wallet to your Copy Trading account.
5. Any lead trader’s open positions prior to clicking [Copy] will be copied via market orders if the market price is more favorable than the lead trader's entry price. If the market price is not better than the lead trader’s entry price, the position won’t be copied.
Please note:
During copying, the lead trader may add margin to their positions, which could expose your positions to higher risks. Therefore, it is essential to monitor your portfolio and positions closely.
If the lead trader holds multiple positions or opens positions frequently while you’re using the [Fixed Amount] mode, your portfolio may not have enough margin to follow their trades. Please monitor your portfolio closely and adjust the copy amount or cost per order amount to prevent copy failure.
Additionally, if the lead trader sets a lock-up period for their portfolio, a note will appear. Please confirm that you’ve read and understood it before copying the portfolio. Once confirmed, you won’t be able to stop copying, adjust portfolio stop loss, or transfer out during the lock-up period unless an unlock option is available.
1. How to manage my portfolio?
1. Click [Copy Trader] - [Copy Overview].
2. Here you can view your current and closed copy portfolios.
Ongoing copy portfolios:
[Adjust Balance]: Add or withdraw copy trading funds. The maximum copy trading amount is 200,000 USDT, and the maximum transferable amount is the available balance of the portfolio minus the minimum copy trading amount and the profit share amount. Please note that you cannot transfer funds out if there are open positions in the portfolio.
[Settings]:
Adjust Cost per Order: Set the cost per order between 10 USDT and 1,000 USDT). This amount cannot exceed the total copy trading amount.
Switch Copy Modes: Select the desired Copy Mode (Fixed Amount or Fixed Ratio) by clicking on the corresponding tab. Please note that all positions must be closed, and meet the minimum margin indicated by the lead trader before switching. Additionally, the lock-up period will reset and restart.
[Stop Copying]: Close the copy portfolio. If there are open positions, the system will immediately close them at market price, settle the profit, and transfer the remaining assets back to your Spot Wallet. If the [Stop Copying] button is grayed out, it means the portfolio has a lock-up period. To stop copying the portfolio, hover over the [Stop Copying] button and click [Unlock Now].
Note: Each user has one unlock option by default to unlock one portfolio. After using this option, you will need to wait 30 days to receive a new unlock option.
3. Click [Expand Details] to:
Close a position in full or partially by clicking [Close Position]. Enter the desired amount or slide to adjust the position percentage.
Set or adjust TP/SL (Take Profit/Stop Loss).
Click [+] to add margin to an isolated position.
Close all positions.
Modify advanced settings.
Alternatively, you can also view your copy traders’ portfolio details and performance from yourFutures Wallet. Simply navigate to [Futures] - [Copy Trading] tab.
2. How to understand the portfolio data in the dashboard?
1. Net Copy Amount (USDT): Initial Copy Amount - Transfer Out Amount - Profit Shared Amount
2. Margin Balance (USDT): Wallet Balance + Total Unrealized PNL
3. Realized PNL (Portfolio Level): Total Realized PNL for Positions - Total Fees (including funding fee, trading fee, and insurance clear fee)
4. Unrealized PNL (USDT): Total Unrealized PNL for open positions.
5. Profit Shared (USDT): Profit amount already paid to the lead trader.
6. Net Profit: Total Realized PNL (Portfolio Level) - Profit Shared Amount
7. Profit Sharing: The profit share rate for the copy portfolio.
