In this article, you’ll learn what Copy-Bots are, what their advantages are and how to get started with them. We’ve divided the manual up into 5 distinct sections:
- What is Copy-trading
- Who is Copy-trading for?
- How much can you earn?
- How to choose a Copy-Bot
- How to get started with a Copy-Bot
What is Copy-trading?
Copy trading refers to the ability to automatically copy the strategy and trades of a Top-Trader bot. A Top-Trader is an experienced trader who has created a bot on our platform and has shown excellent profitability and security results.
Leave all analytics and trading to a more experienced trader. By copying, you can save your time by repeating the Top-Bot’s transactions. This bot carefully controls all associated processes.
Who is Copy-trading for?
Quite simply, for everyone. Copy-trading is an opportunity to acquire passive income, regardless of whether you’re a beginner or an experienced trader. If you have no experience in trading and no technical analysis skills, then copy trading is a great opportunity to let your money work for you, with little or no involvement.
If you have experience, then using a Copy-Bot managed by another trader can be your “vacation” from the endless analysis of charts, emotional shakes and hours spent staring at a computer screen.
How much can I earn?
If we rely on the history of the bot profitability already known to us, then the numbers are as follows:
Spot bots can bring from 5 to 20 percent in monthly profit. Taking into account compound interest, one can expect 179 to 891 percent returns over the period of a year.
Futures bots can bring from 10-45 percent in monthly profit. You can expect a compound annual profit of between 313 and 8,639%.
A key point involved is the state of the market. The trader is focused on making the maximum number of transactions possible using the scalping strategy (scalping is intraday speculative operations, the peculiarity of which is to close the transaction when a small profit of a few points is reached) combined with effective risk management and loss avoidance.
How to choose a Copy-Bot
In order to select the right Copy-Bot for you, you can use the information provided for you in the bot card. Consider the following options:
- Desired APY. Annual percentage yield (APY) is a measure of potential profit, taking into account compound interest;
- Spot or futures;
- Traded Pairs;
- The set level of aggressiveness. The higher the level of aggressiveness, the greater the potential profit and risks;
- The minimum required balance.
Based on these parameters, you’ll be able to choose a Copy-bot that suits you. Just carefully analyze the information provided in our Top-Bots Marketplace and choose the one that meets your expectations. When copying trades, you won’t be able to make changes to the settings by which your bot repeats trades of the Top-Trader; this function is simply not available. This is done for security reasons and to make sure that an inexperienced trader doesn’t make mistakes.
By the way, our Copy-bot is now absolutely free! You can connect as many as your membership and balance allow.
How can you get started with our Copy-Bot?
After you have chosen your bot, you need to prepare it for work.
To do this, replenish your balance on the exchange that you will connect to the future bot.
Please note that for futures bots, you must have USDT available. But if we’re talking about a Spot bot, then you must have a minimum balance of the coin that is indicated on the bot card and the amount must be greater than or equal to the specified minimum required balance on the bot card. On your balance, you ought to have both coins of the pair, even in a small amount, so that the exchange can take a commission at the time of opening and closing transactions.
After that you need to:
1) Click the "Copy" button and add the bot to your account;
2) Go to the menu tab (Step 2. Bots);
3) Go to the drop-down menu, select Exchange, and then the desired connection;
4) Click the Create Bot button and then click Launch Bot.
All set! Your bot is already waiting for its next command from the Top-Trader to start trading.
If you followed all the above steps correctly, but the bot didn't start trading immediately after activation, don't worry. The fact is that the Top-Bot, whose strategy you are copying, may be in an open trade at the moment. As soon as this deal is completed, your Copy-Bot will join the next one.
You can also contact our support team to get your questions answered.
Why doesn't the Copy-Bot use all of my balance, and instead only a small part?
A Top-Trader cares not only about the income for his followers, but also about saving their funds. To do this, the strategy uses safety orders that help avoid liquidation and average the initial entry price.
Therefore, your entire balance is considered not only for the starting order, but also for a certain number of safety orders, for risk management purposes. This will be required in cases where the price starts to move against the bot strategy chosen by the Top-Trader.