Trade Like the Pros With Copy Trading
2024-08-16
When trading on the crypto markets, it can be very tough to identify which coins have the potential for profitability. While we at Bitrue fully encourage all our users to do their own research on their investments, the reality is that the sheer number of coins and the depth of their complexity means that determining which ones are worth the investment is a full time job, and most people simply don't have the time.
But some people do have the time, and you can use their experience to make money for you on Bitrue.
Bitrue's Copy Trading feature allows users to imitate the trading strategy of a chosen Professional Trader using the user's own funds. That means that if the professional chooses to invest 10% of their portfolio into BTC futures, the copier does the same thing, and both will receive the returns on their respective investments.
Professionals also benefit from this arrangement, as part of the trading fee from their follower's trades will be returned back to them as profit.
On Bitrue you can find hundreds of professionals who trade daily and copy their exact trading patterns, letting you take advantage of many people’s expertise while also diversifying your portfolio amongst a wide range of trading strategies. Why not follow a day trader and a long term holder at the same time in order to leverage both strategies?
Here's how to get started with copy trading on Bitrue:
- Head to this link, or look for the Copy Trading entrance in the footer of any page on Bitrue.
- Once you’re in, you can see all the currently active Professional Traders and their current performance. You’ll want to find a trader that’s performing well, so use the filters at the top to organize these Professionals according to various different criteria.
- When you’ve found the leader you trust, click on the yellow Copy Trading button to get into the specifics of how you’re going to imitate their trades.
- From this next screen you can select whether you want to use Fixed Multiplier or Fixed Amount modes. Fixed multiplier means that the positions you open will match the Professionals by a certain multiple. For example, if the Professional opens a position of 100 USDT, and you have a multiplier of 5x, then you will open a position of 500 USDT. Decimal values are supported here, if you wish to trade relatively smaller amounts.
Conversely, Fixed Amount allows you to limit the positions that you open to certain amounts, ensuring that trades are always within values that you are comfortable with.
In both cases, you can also select a Maximum Amount, to limit your risk as appropriate.
6. There are also several Advanced Options available to use. Take Profit and Stop Loss work just the same as regular trading, they allow you to further manage your risk according to your own trading preferences by closing a position in advance when a certain metric is met. Custom Leverages allow you to follow the Professional’s trading picks while setting up your own leverage. Always remember, a high leverage has the potential for high profits but can also lead to liquidations very easily. Be very careful when specifying high leverages as your entire position could be wiped out in seconds.
7. When you’re done, all you need to do is check the box to agree to the Terms and Conditions, then click on Submit. After that, you’ll be matching the professional’s trades and earning profit just like them!
If you yourself are a professional trader, you can earn extra income on Bitrue by providing your services as a trading leader. You’ll be able to engage in profit sharing based on the trading fees generated by your followers. If you think you have what it takes to lead a pack of traders and help everyone make winning trades, you can apply here. Please note that when you apply, you should not currently have any existing open positions, outstanding orders, and you should not currently be following any other traders using Bitrue’s copy trading features.
Applicants will be notified of their results within one working day. Good luck!
Disclaimer: The content of this article does not constitute financial or investment advice.
