The Beginner's Guide to Copy Trading (Copy Trading User)

What is Futures Copy Trading?

Note: The term "same strategy" here refers to trading futures with opening prices and closing prices that are almost identical to those of the trader's transaction. As the prices may be affected by factors such as market fluctuation, please be aware of the risks as the opening/closing price may not be exactly identical to those of the trader's transaction.

What are the benefits of Copy Trading?

• Trader: Through the system, traders can put their professional trading experience to good use and earn up to 15% profit share from their followers' trades.

• Follower: With just a few simple steps, the system will automatically copy the selected trader's trading strategy and place an order for the follower. Followers will never miss out on another trading opportunity even when they are busy.

How to start Copy Trading?

A mandatory field. The following amount is the funds invested in the current Copy Trading sub-account, which will be used as a margin to open a position when following a trader. The minimum investment is 5 USDT, where the maximum investment amount is based on the USDT balance of the main Spot account.

b. Select Copy Trading mode (Fixed amount mode or Multiplier mode)

•  If you select Fixed amount mode, you need to enter the investment amount for each time you copy a trade.

For example, when it is fixed at 100 USDT, it means that each time the trader opens a position, the system will place an order for you with a margin of 100 USDT.

• If you select Multiplier mode, you need to enter the ratio for each time you copy a trade (ratio of your copied trade position to the trader's position).

For example, you follow trader A and set the ratio to be 10x. When trader A leads a copy trade with the transaction of 10 USDT, the amount you need to invest in this order will be 10 * 10 = 100 USDT.

• Go to Copy Trading page, under My Copy Trades, and check and manage current copy trades (if exist).
• You can set up the take profit/stop loss ratio for a position.
• Click on [Close] to manually end copy trade and close the position, or you may also wait for your position to close automatically when the trader closes their position.
• Click [History], Copy Trade History, to view the PNL of your closed positions.

*Advanced Settings-a. Set leverage and slippage

You can set the leverage multiplier and slippage for individual trading pairs in advanced settings.

The leverage multiplier and slippage in the advanced settings are optional. You can set them when you need them.

Leverage:

1. Use the same leverage multiplier as the trader: The leverage multiplier for every order will be the same for the traders.

2. Customize leverage multiplier: Your customized leverage multiplier will be used for every order.

Slippage:

1. No customized slippage: By default, every order is placed at market price.
2. Customized slippage: Every order is placed based on the slippage you set and the trader's entry price.

For instance, let's set the slippage of BTC USDT to 1%.

• A trader [long] BTC USDT at the entry price of 20,000 USDT. The follower will then place a limit order at the order price: 20,000 * (1 + 1%) = 20200 USDT. The transaction price is less than or equal to 20200.
• A trader [short] BTC USDT at the entry price of 20,000USDT. The follower will then place a limit order at the order price: 20000 * (1-1%) = 19800 USDT. The transaction price is greater than or equal to 19800 USDT.

If the slippage is set, the orders of the followers may not be completely filled due to market influences.

 

*Advanced Settings-b. Auto margin addition mode

1. Followers can click [Follow], or go to [My Copy Trades - Following - Traders] to open the Copy Trade parameter settings page

2. Turn on the switch for auto margin addition. There will be a pop-up window to reconfirm your selection. Click [Enable] and auto margin addition will be enabled for all your trades.

• Auto margin addition will be enabled for all your current positions and new copy trades.

• The system will transfer the available balance in the Copy Trade funds to the Copy Trade margin when the positions are about to be liquidated or deleveraged.

• If the switch is turned off, it means the auto margin addition function is turned off for all Copy Trade positions.

Note: Enabling auto margin addition can reduce the risk of liquidation, but you may also lose all your Copy Trade funds. Please proceed with caution!

 

How to check my following traders?

How to check the traders on my watchlist?

How do you unfollow a trader?

1. Go to My Copy Trades

2. Click on [Following]

3. Select a trader you are following, and click on [Unfollow] in the action panel.

Note: Once you unfollow a trader, the funds in your Copy Trading sub-account will immediately be transferred to the spot account of your main account. You may go to Assets page, click on [Quantitative account], then click on [Transfer details] to view the transfer records

How to edit Copy Trading details?

1. Go to My Copy Trades

2. Click on [Following], select a trader you are following

3. Click on [Edit] in the action panel

4. Click [Submit] when you are done editing your Copy Trading details

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The MEXC Team

13 September 2022