An introduction to copy trading l What it is and how to use it
BTCC Support2 months ago
1. What is copy trading?
Copy trading is an automated trading tool that allows users to replicate the trades of professional traders and other high-performing traders. With the click of a button, you can replicate the trades and trading strategies of these lead traders and immediately follow in their footsteps.
2. What are the benefits of copy trading?
- Learn trading strategies
Trading is a highly complex skill with a steep learning curve. By replicating and following the trading strategies of successful traders, beginners and intermediate traders can learn and develop their trading techniques and enjoy higher success rates right from the very beginning of their journey.
- Save time
Cryptocurrency trading operates 24/7, all year round and profit opportunities can arise on any time of the day. With copy trading, users can instantly replicate the trade signals of a lead trader and avoid being trapped in the constant search for trading opportunities, thus saving a tremendous amount of time.
- Ease of use
To start copy trading, all a user needs to do is to deposit funds and set their copy trading parameters. Once everything is in place, the system will start copy trading and handle the trades automatically.
- Investment opportunities
Copy trading offers investors a brand new way to utilize their idle funds and grow their assets efficiently. Instead of letting their funds sit and depreciate, investors can now take advantage of different market opportunities and start growing their assets by following the footsteps of experienced traders.
3. What are the benefits of becoming a lead trader?
- Amplifying profits and growing an audience
Lead traders can earn profit shares by letting others copy their trades. If they continue to perform well and attract more followers, their profit share will also increase and bring them higher returns.
- Exposure and personal branding
Lead traders can take part in BTCC’s various activities, media events, and collaborations to gain exposure and grow their personal brands.
4. Things to consider before copy trading
- Copy trading does not guarantee profits
Trading is not always profitable, even for lead traders. Hence, copying a lead trader’s strategy will not always guarantee profit and you should still manage your risks and be cautious about potential losses.
- Set your parameters appropriately
Before copy trading, it is crucial to set your parameters appropriately in order to manage your risks. Pay careful attention to settings such as margin ratio and maximum amount per trade to ensure that you are copy trading within your risk appetite.