To help you along the way with copy trading, here are the tutorials on how to use Bitget's One-Click Copy Trade.
What is Bitget's One-Click Copy Trade?
Bitget’s One-Click Copy Trade is our flagship product. Copy trading refers to the trading that investors follow other investors (commonly known as professional traders/ experts) to have the same positions in the futures market as the experts they are copying. Designed to meet the needs of both professional traders and crypto enthusiasts, Bitget's One-Click Copy Trade provides a transparent and reliable trading environment, where ‘others win when you win’. To date, Bitget is the world’s largest crypto copy trading platform and Bitget’s One-Click Copy Trade has amassed over 80,000 professional traders, 380,000 followers and a total of 100 million trades completed on the platform.
Highlights of Bitget’s One-Click Copy Trade:
- Bitget is one of the first crypto exchanges that introduced social trading and integrated this concept into the products. Currently, we are the world’s largest crypto copy trading platform. Expert traders on Bitget have generated more than US$20 million in profit sharing - that is a whopping 20% profit for everyone who participated.
- Bitget’s Copy Trade markets are highly liquid; traders have never had any problems trading as Makers (Makers may be forced to pay the Taker fees - normally extremely high in less liquid markets).
- Currently, Bitget ranks in the top 5 best crypto exchanges in the world and we are proud to say that we are a trusted leader in terms of asset services, security and compliance.
- Bitget has a global presence - with a 800-strong workforce representing 40+ nationalities, we can support users from all over the world 24/7 and offer services in 12 languages.
How to Use Bitget's One-Click Copy Trade
Choose the trader(s) to follow
(1) Head to the Copy Trade homepage;
(2) Analyze the available Traders;
(3) Choose the one(s) you would like to follow.
Follow Trader(s)
(1) On the webpage, click Follow to enter the setting page; On the app page, click Copy;
At the setting page, select from different types of Contract, Follow Modes, Leverage, and Risk management
(2) Review and Click Confirm
The detailed instructions are as follows:
Copy contract: Select your desired trading pair to be copied. Click Transfer on the right and transfer your funds
Follow method: choose fixed count or fixed ratio. It means that every time a trader opens a position, it will follow at a fixed number or a fixed ratio. The default setting is fixed count.
– Fixed Rati 0.01～100
– Fixed Count: the fixed count of orders is consistent with the trader
Contract Count Limit
– Upper Limit of Single Contract: 3,000U (USDT)
– Upper Limit of Accumulated Contract: 50,000U (USDT)
Notes: When the follower follows a trader, the upper position limit for single trade copying can be selected from 10 to 3,000U (USDT) and the maximum accumulated position is 50,000U (USDT). These limits are the same when the follower follows multiple traders. (Accumulated is the maximum number of positions that the follower is holding when following the trader)
Leverage type: the leverage can be set uniformly or separately. Followers can choose from three types of leverage: futures setting, customized, and follow the traders.
Set Slot Reminder
In case the preferred trader is full of follower capacity, this feature allows followers to set a reminder to be notified when there is an available slot. When there is an available slot, you will be notified through email and the notification bar.
(1) Click on the avatar of the trader and enter the personal page of the trader
(2) Click Slot Reminder
Cancel to Follow Traders
(1) Go back to the main menu and find the Copy Trade section
(2) Click My Copy traders
(3) Click My trader
(4) Choose the trader that you want to unfollow and click Edit
(5) Click Unfollow at the upper right corner
Close Position
Followers can close positions through Follow Order on the contract page.
Notes:
– Each order that the user follows will be separately displayed in the Following order.
– You can close positions one by one in the Details of the Following Order contract will be merged into positions.
– You also can close multiple positions in the same direction of the contract in the Summary of the Initiated Copies.
– All positions in a single direction of contract will be merged into positions.
How to prevent position explosions?
We understand the risks that come with market volatility. Please remember that, upon placing a leveraged order, you'll need to make a deposit to your (margin) account balance. It is called initial margin. As the price of the underlying asset fluctuates, your account balance is subject to changes. When losses reach a certain level, your account balance will fall below the minimum equity requirement, also known as maintenance margin. In that case, you'll have to deposit more equity into the margin account or you'll be forced into liquidations. Forced liquidations mean reducing your exposure to the assets and avoiding losing more than you can afford.
Moreover, you'll always receive a notification from Bitget whenever your margin account balance falls below the risk margin.
Maintenance margin level will be lower than risk margin level, and risk margin level is lower than initial margin level. Bitget is one of the only crypto derivatives exchanges that utilize this sophisticated mechanism to help traders resist the risk of liquidation better.
One more useful feature of Bitget margin trading is you can switch your margin mode conveniently between Cross Margin and Isolated Margin. We recommend using the Isolated Margin mode for extremely volatile assets, as the maximum loss possible is restricted to the Isolated Margin balance only.
Kindly check your mailbox and adjust your exposure by changing your leverage level or reducing your positions manually to prevent position explosion. OR, you can choose to cancel following a trader.
How to Select Traders
One of the most frequently asked questions we got from our users is ‘How can I choose the right traders to follow?’ Well, first, let us suggest some hints to spot a good trader. A good trader is who
- Able to maintain a relatively stable profit in long-term;
- Trade with a stable strategy that knowing where to Stop Loss or Take Profit;
- Consider the interests of followers and never mislead them.
If that sounds too vague, don’t worry, Bitget provides useful information about a trader's performance. You can make better decisions by considering the following indicators.
Proven track record
Scanning the general indicators such as Ranking, Followers, ROI, Total P&L, Copiers P&L and AUM to examine how much their followers trust them is the quickest way to spot a great social trader.
To get signs from the trader, look at how many other individuals have invested with them using real money. You should also think about the gains that followers are making from following that signal provider. This data is available on their profile page.
Analyze a trader's performance over the last 12 or more months. It is preferable if they have been trading for a longer period of time so you can observe how they perform in either a bullish or bearish market. At Bitget copy trading platform you can see the trader's track record by visiting their profile page.
Returns
The ideal trader to emulate must produce steady results as opposed to erratic ones. Positive returns are desirable.
Also, really large returns could sound alluring, but exercise caution because they are uncommon and most usually the result of excessive risk or chance. Observe the monthly returns as well to determine whether the performance is attributable to a certain month or months. Look at the historical performance graph below to quickly spot this.
(*) Total Income: The larger the total return, the stronger the trader's profitability. It is the most intuitive understanding of a trader's profitability.
If it's gradually increasing, then you could be looking at your future signal provider. If there are any odd spikes, look at someone else. Verify the profit charts of the traders. You want to work with a person whose profit has been increasing steadily over time. Profits should increase smoothly and steadily, which should be a sign of this. Anyone with a skewed graphical depiction is most likely playing the odds, which would account for the alternating periods of significant gains and losses. In essence, you would like to emulate a trader who generates 3% monthly gains as opposed to one who has winning months for the first six months and losing one's for the following six.
Confidence
Consider following a signal provider who uses a real account and stakes their own money when trading. If this is the case, they're probably going to be less careless with their transactions. Additionally, it shows that they are self-assured enough to accept the dangers in exchange for the rewards of cryptocurrency trading. You can see the following traders' profits below.
Additionally, you want to confirm that their performance chart's negative month is a deliberate choice and not an error.
Number of followers
Similar to social media, having a large number of followers can suggest a trader is someone you should copy. They might even be compared to an influencer. If they are losing trades, why would others copy them? A share of those earnings might go to you as well.
You also benefit from this in terms of social trading. You can solicit the opinions and trading techniques of those followers, as well as trading advice from them. This trader below can be considered a reliable trader at Bitget because he has the maximum number of followers.
Number of Trades
The quantity of trades the signal provider makes is another aspect to consider when selecting the finest social trader to follow. A big number of closed trades, such as 100 or more, is a reliable sign. A high value can indicate that a trader is knowledgeable and that their success is not the result of chance. Obviously, the trader's plan will also influence this. A reduced number of trades can be justified because long-term traders tend to hold their positions for longer periods of time.
You can view Trader’s detailed trading history in the ‘Orders’ section:
Historical drawdown
When the equity balance is less than the account balance in cryptocurrency trading, the difference between the account and equity balance is referred to as a drawdown. You must determine how much of a trader's account has been in the red over time because it measures the highest loss to an account. The likelihood of the same decline occurring again is high, especially if the same approach is employed. The maximum drawdown is displayed in a trader's portfolio deion on their Bitget profile page. This will make it easier for you to tell one trader from another.
Consistency
In addition to the quantity of completed trades, you should focus on consistency. An ideal trader is someone who has a string of lucrative months (let's say 12 months) with little losses in between. Don't forget to check to see how long your trader has been trading. Again, at least a year of experience on trading platforms is recommended. Don't imitate newbies whose success may be due to a lucky break.
(*) Trading volume: The traders’ trading volume can be seen from the trading sizes. It can be combined with the holding time of the trader to see whether his/her trading style is stable or not.
Average Open Duration
A more even distribution of position holding time indicates that the trading style is relatively stable. Some traders may have adopted a certain trading strategy to manage the risk.
Examine their open trades as well; the information should be accessible in the trader's profile on Bitget copy-trading page. Open transactions have a significant impact on your available equity, just like experimenting with stop levels.
Professional traders are aware of when to tolerate losses and when to use leverage stop levels to reduce losses before they become intolerable. You will discover that a trader with fewer open transactions and a winning ratio of 60–80% is more likely to succeed in the long run than a signal provider with more than 10 open deals and a winning ratio of 100%.
Make sure to look at their available positions; if there are a lot of "reds" from recent weeks or months, this might not be a good sign.
In conclusion, the following notes are important for finding a good trader:
- High yield, high return, and high total follower return are the most important data indicators.
- By checking the trader's check-in time, number of transactions, and the profit and loss ratio, we can see whether the trader is able to maintain profit in the long term.
- Through checking the positions and trading volume, it can be seen whether the trader's trading has a certain strategy.
- By looking at AUM, you can understand his popularity and other people's recognition of his trading ability.
Related articles
Copy Trade: Things You Need to Know as a Follower
Copy Trade: Things You Need to Know as a Trader
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