Bitget One-Click Copy Trade Tutorial: Useful Tips For Followers
We will walk you through the what, why and how of Bitget One-Click Copy Trade and provide useful tips to help you maximise your earnings.
The ABCs of Bitget One-Click Copy Trade
2020 was one memorable year for the crypto industry. Bitcoin broke its previous record high in December, Ethereum kickstarted their transitioning process to PoS with the Beacon Chain, institutions (Paul Tudor Jones, Michael Saylor, Grayscale, Citibank, PayPal) entered the space, the OG DeFi summer took place, and Bitget launched the first-ever crypto copy trading product.
As the name suggests, your crypto journey begins with just one click. No fuss, no muss; you don’t have to be an avid trading guide reader or an expert in technical analysis to be successful. The concept of copy trading involves the automatic copy of positions opened and managed by verified traders, hence the success can be passed along hassle-free.
Bitget One-Click Copy Trade has been persistently boosting the crypto fever for the last two years with our network of 100,000+ professional traders and 410,000+ followers who have generated at least US$350 million in profits.
Why Choose Bitget And Bitget One-Click Copy Trade
Bitget is widely recognised as a leader in the crypto derivatives market in terms of liquidity and global open interest. We are proud to be able to serve more than 8 million users from 100+ countries and regions.
In terms of compliance, Bitget's compliance team is made up of experienced law practitioners who are intimately familiar with the local regulatory landscape, and maintains regular contact with authorities worldwide for constant compliance updates. Our KYC process is consequently compulsory, but already simplified to improve your registration experience.
Regarding security problems, Bitget implements a holistic risk control process with hot and cold wallet segregation, which is supported by big names in security tech: Suntwin Technology, Qingsong Cloud Security, HEAP, Armors, just to name a few. Our focus on the security aspect helps us secure our place in the top 10 Exchanges by Cybersecurity Rating from Crypto Exchange Ranks (CER), and receive 12 A+ Ratings from SSL Labs. We introduced our US$200 million Bitget Protection Fund back in July 2022, whose value has been increased to US$300 million since, to safeguard our users' funds against the slightest possibility of a hack or theft.
Bitget Proof-Of-Reserve was first published in December 2022 and is updated on a monthly basis. The total reserve ratio has consistently remained above 200%, meaning the total asset value held in the exchange wallets is twice the aggregate value of all users' assets.
The maximum level of leverage on Bitget stands at 125X, meaning investors can open e.g. a position of 125,000 USDT from 1,000 USDT in equity. Understanding that high leverage comes with higher risks, Bitget comes up with a special risk indicator called the Risk Margin. The maximum level of risk margin is equivalent to the actual delivery obligations, therefore it's lower than the initial margin but higher than the maintenance margin. Whenever your futures account balance falls below the risk margin, a notification will be automatically sent to users so that they can make timely adjustments to their portfolio. We are proud to say that Bitget is one of the only crypto derivatives exchanges that utilises this sophisticated mechanism to better resist the risk of liquidation.
In addition, traders are exposed to more than 100 futures trading pairs with multiple margin options: USDT, USDC, BTC, ETH and EOS. We have also integrated TradingView and IntoTheBlock (analytics) to bring about the best user experience possible. Thanks to our sophisticated conditional ordering system, users can refine their trades with Market Order, Limit Order and Trigger Order, Take Profit, Stop Loss, GTC (Good ’Til Cancelled), IOC (Immediate or Cancelled), Post Only or FOK (Fill or Kill).
All professional traders on Bitget One-Click Copy Trade have to go through an extremely strict reviewing process before they become members of our traders' pool. Data measuring the performance of every trader and their copiers is available for the public.
I'm New. How Can I Join Bitget One-Click Copy Trade?
The simplified answer would be: Create a new Bitget account (if you don't have one yet) - choose the trader to follow - click on Follow and confirm it.
However, there are a few tips that could help make the process even easier for beginners. Let's get right into them.
Registering as a new Bitget user
With the new Bitget Rewards Center, new users can get up to 5,027 USDT for free! On top of that, we offer additional bonus when you log in to your account daily and exclusive events such as the Beginner CandyBomb Promotion.
Our advice: Complete all the given tasks in the Bitget Rewards Center, check in and check your notifications daily to not miss any earning opportunities!
Selecting the best trader(s)
When you see one fitting trader, click on their profile to further review their success metrics like this:
Data includes all the numbers you've seen on the homepage (ROI, Maximum drawdown, Total copy traders, Total profit, Win rate, AUM), whereas Copy trade order shows all the futures contracts enabled for copy trading by this trader. Aggressive is how they describe their own trading style.
Now moving on to the Chart. Key metrics are visualised to provide a digestible summary of a trader's activities in 24 hours, 7 days, 3 weeks or one month. If the Data is more of a general overview, Chart illustrates changes over time and gives insights into the trader's strategy.
Source: Bitget Copy Trade - Futures Trader Profile
Under Orders you can find the list of one trader's historical trades and copy trades, and a summary of first 50 followers is provided in the Followers tab.
If the follower capacity of the trader you wish to follow is already full, you can set slot reminders. The system will notify you as soon as someone unfollows this particular trader.
Setting your preferences
When you click on to the Follow button next to a trader's profile, it'll show a message box as below:
Source: Bitget Copy Trade
(1) Futures: By default, a follower is exposed to all the futures contract (in case of Futures Copy Trading) or all the trading pairs (in case of Spot Copy Trading) the trader has enabled. If you wish to trade a set of preferred contracts only, click on Edit and unselect those that don't fit.
(2) Follow mode: Click on the dropdown menu and choose the most suitable follow mode.
With Fixed amount, you allocate a pre-set amount of equity, for example 500 USDT for each trade undependable of the trader's position value. In many cases, it's better to choose Multiplier because it creates a synchronisation between a trader and the follower(s), which helps avoid any mismatch during the implementation of the trader's strategy and unwanted risks.
Let's take an example: Assume the trader Wolf Capital has 3,000 USDT in equity and they decide to split it equally into 10 trades, meaning each trade has 300 USDT as initial margin. A follower of them has 2,000 USDT in their Futures account, selects the Fixed amount mode and allocates 500 USDT for every trade. If Wolf Capital uses Cross Margin for all of their trades, a losing one can be covered by the remaining equity which makes up to 2,700 USDT. Meanwhile, the follower has only 1,500 USDT ready to compensate for the same position and takes a higher risk of liquidation.
Should this follower select the Multiplier mode to allocate an amount of equity proportionally to Wolf Capital, they need to enter 0.67 (2,000 / 3,000 = 0.67) as the ratio between your equity and that of Wolf Capital. Then the same position would require an initial margin of only 200 USDT, so there's 1,800 USDT available for compensation. If they have 6,000 USDT in their Futures account, the recommended multiplier is 6,000 / 3,000 = 2.
Our advice: It's best to take advantage of the data and charts available in each trader's profile to understand their trading strategy before filling in your follower's settings.
Managing your trades
Source: Bitget Copy Trade
Once you get the list of all your trades and positions like this, you can manually close one position by clicking Close under Operation. All positions of the same direction of a futures contract are added together into one unit under Position of Summary, so if you close one position under the Summary tab, you are closing all open positions (of the same direction) on that particular contract.
Source: Bitget Copy Trade
Note: Wolf Capital has released a 500-piece NFT collection that serves as the key to multiple earning schemes, including copy trading. Bitget is proud to offer Wolf Capital NFT holders the best copy trading experience with our Bitget One-Click Copy Trade. Should you need more information about Wolf Capital NFT and/or wish to learn more about their copy trading strategies, please reach out to the Wolf Capital community on Discord.
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