Product news

Trader Selection Guide

The digital currency industry is booming, thanks to the rapid development of blockchain">blockchain technology. Spot and futures trading have attracted a large number of users from the traditional financial community to participate, but it can be difficult for beginners to get started. Fortunately, copy trading makes everything easier. Copy trading easily solves the problem of inexperience. Users only need to pick a professional and reliable elite trader to follow, and they can enjoy effortless profits. Undoubtedly, it's a wise choice for those new to crypto trading.

At Bitget, copy trading brings the most followers profit because all of our elite traders are expert strategists with expertise and rich experience. Their opening and closing actions are copied automatically once the user chooses to follow. This means users do not need to keep an eye on the market or study it before they can easily enjoy high returns. The result: a more flexible trading experience and significantly reduced investment risks. That leaves us with a final question: How do I decide on the elite trader to follow?

First of all, Bitget displays six different dimensions of elite traders on their profile page, namely, ROI, Maximum drawdown, Total followers, Total profit, Win rate, and AUM, which can be switched between "All-time" and "The last 3 weeks". In addition, there are some other data, such as Total assets, Total trades, Days joined, and Followers.

1. Selecting from the "Elite traders leaderboard"

a. Bitget ranks elite traders by Highest ROI, Highest profit, Highest follower profit, and New elite traders. Users can toggle between Last 24 hours, Last 7 days, Last 3 weeks, Last month, and Last 3 months to view data in different periods.

b. Glossary

  • ROI: The rate of return on an investment, generally expressed as an annualized percentage. ROI = PnL ÷ Principal × 100%
  • Total profit: The total profit of closed positions.
  • Follower profit: The total return of closed follower positions.

c. New elite traders have the opportunity to gain more exposure by entering the Emerging Elite Trader Rankings. Eligibility:

  • Hold at least 500 USDT in your futures account.
  • Reach an ROI of at least 10%.
  • Make at least 10 elite trades in 7 days.
  • Get at least 1 follower in 7 days.
  • Make at least 40 USDT in profit in 7 days.

2. Selecting based on tag or grade

a. Based on the trading history of each elite trader, Bitget assigns tags to them to show their trading preferences and styles, reflecting their characteristics objectively and accurately.

  • Top tags: High profit, High ROI, Secure, Consistent high performance, and Most popular
  • Style labels: High-frequency trading, Low-frequency trading, Aggressive, Conservative, Long-term, and Short-term
  • Newcomer Tags: Rising star and Newcomer
  • Crypto preference tags: Mainly BTC, Mainly ETH, and Multi-coin elite trader
  • Negative tag: Inactive

Label names and explanations: Automatic tags for elite traders

b. The elite trader tier system is an exclusive incentive program by Bitget for elite traders. It aims to help outperforming elite traders gain more exposure and get better perks and services.

We categorize elite traders into six different tiers (Bronze, Silver, Gold, Platinum, Extraordinary, Legend) based on five major criteria, with each tier corresponding to a unique set of perks for the elite traders who qualify. The higher the tier, the more stringent the requirements are. For example, Legend elite traders need to maintain: 1) a 30-day winning rate of at least 80%, 2) a 30-day copy order number of at least 300, 3) a 30-day copy trading volume of at least 50,000 USDT, 4) a 30-day total return of at least 2000 USDT, and 5) a 7-day total futures account assets of at least 10,000 USDT. Users can filter for elite traders with higher levels on the Copy page.

3. Selecting with the follow compare elite traders feature

You may use this feature to compare and analyze the performance of elite traders in various aspects, so that you can learn about the basic information of each trader and their ROI in different time periods in an intuitive way.

Comparable data:

a. Basic information

Total assets (USDT), Total trades, Days joined, Followers, Watchers

b. Trading data (all / last three weeks)

ROI, Maximum drawdown, Total followers, Total profit, Win rate, and AUM

c. Insights

Followers, Insights, and Posts.

Bitget provides authentic and transparent data for comparison and analysis so that users can find their most ideal elite traders to follow.

4. Selecting based on key metrics

For users that are new to crypto or those with little trading experience, it is important to pick a reliable elite trader. Generally, it's recommended to make decisions based on the following four metrics:

a. Track record

A trader's track record is an important indicator of his or her ability and competence, and it is necessary to understand their performance and risk control ability with different varieties. Trading frequency, ROI, win rate, drawdown rate, and total profit are among the most important statistics. You don't want to copy an elite trader with high ROI but low total profit.

b. Trading style

Learn about the trader's styles with the platform's new tagging system, such as Multi-coin elite trader, High-frequency trading, Long-term trading, and more. Choose the one that matches your preference.

c. Trading discipline

You'd better choose an elite trader that has a strong risk awareness and risk control ability. An ideal trader should be able to formulate reasonable investment plans and risk control strategies, and strictly implement them.

d. Trading cycle

Learn about the trading cycle and PnL of an elite trader through the "Position duration" chart on their profile page, see if the profile matches your investment cycle and risk tolerance. You can also read their insights to get to know more about their opinions.

e. Other useful metrics

  • ROI = PnL ÷ Principal × 100%
  • Total profit: The total profit of closed positions.
  • Number of profitable transactions: Number of transactions with positive returns (When trading fee is not deducted).
  • Number of losing transactions: Number of transactions with negative returns (When trading fee is not deducted).
  • Win rate: Number of orders with positive returns ÷ number of all orders × 100%
  • Followers: The number of users currently following the trader. You can see how many people are following this elite trader, because this also reflects their trading ability.
  • AUM: The total funds in the spot accounts of all current followers of the elite trader.
  • Total assets: Total futures assets of the trader (the trader has the option to choose whether to display)
  • Trading orders: Number of trades that have been completed through opening and closing positions.
  • Total followers: The number of people who have followed the elite trader. Note: The follower who re-follows after unfollowing will not be counted again.
  • Currency preferences:Based on trading pairs and number of orders. Elite traders don't know al l trading pairs, but typically only several of them. Currency preferences tells you if their investment are diversified to spread risks.
  • Holding time: Time of holding a coin and the PnL
  • Volume: Daily trading volume (USDT)

5. Other tips

The first and most important point is to avoid blind following.

Be well prepared before you make any investment. Choose the right copy trading mode (fixed amount / multiplier). With Bitget, you have the option to apply recommended parameters set by the elite traders. Refer to New copy trading feature: parameter recommendations for more details.

In addition, new traders need to choose the right kind of investment varieties. We recommend that you don't set your initial margin too high, and start with BTC and ETH, control your position, familiarize yourself with the trader's habits, and then gradually increase your investment.

The second point is not to make too big a copy trade order.

For beginners, when copying digital currency trading orders, they should fully consider their own needs, try to invest in a stable project with a solid team, and keep the order small. This way, they can enforce their investment knowledge and accumulate investment experience. It's important to be mindful and make reasonable choices based on your risk tolerance.

Third, have adequate funds.

Users should have sufficient assets for copy trading. If a user's balance is less than 1000 USDT, they can follow the above suggestions on how to best manage positions. With more assets, users should still manage positions carefully by getting familiar with elite traders and following traders in different time zones, so as to minimize the possibility of liquidation.

Forth, do not trade on small platforms.

Small platforms are often young, fast-growing, providing high profit, and have diverse modes of operation, but not recognized and protected by regulators. Those platforms, lacking underlying security, are questionable in terms of health and reliability. Investors should first make sure that a platform is secure and sound. Because you can only keep your funds safe by making investment on compliant platforms. Especially for beginners, it is crucial to trade on an established trading platform to avoid any unwanted surprises.

Fifth, keep abreast of market trends.

Keeping up with market trends and news is crucial. Most successful elite traders rely on fundamental and technical analysis to make trading decisions. As such, it is advised that you keep up to date with the latest market trends and news by browsing news sites, financial blogs, and social media platforms. Bitget Insights provides you with market analysis and news feeds that can help to make informed trading decisions.

Simply put, Bitget analyzes the track record of each elite trader and does not represent the future results of them.

Elite traders trade different trading varieties with their styles. Low risk doesn't always mean low potential profit, and vice versa. Use your own judgment to find the more suitable trader for you. Average investors can also consult the trading records of elite traders to get some insight into their understanding of the market trends. Although the track record of elite traders cannot represent their future achievements, we can still use this as a starting point to see if they are the right ones to follow.

Join Bitget, the World's Largest Crypto Copy Trading Platform