Permission to copy! Bitten stands out in the ranking of the best centralized crypto platforms by constantly offering innovative services to its ever-growing number of users. The house token, BGB, has also surpassed bitcoin (BTC) in 2023 by a growth of more than 200% which took him to new heights. Among the exchange’s flagship products, Copy Trading has aroused customer enthusiasm and has been an undisputed success since its launch. On January 24, the service underwent a major development that allows users to better distribute their funds and simplify the copy trading process for beginners. We explain it all to you.
Le Journal du Coin offers you this promotional article in collaboration with Bitget.
What is copywriting?
THAT copy trade allows users of an exchange to copy automatically and in real time all of them positions taken by an expert trader. This process allows for profit (at best) in the financial markets without prior technical knowledge.
Subscribers can thus allocate part of their capital to the account of professional traders. From then on, every action of the latter, such as opening or closing a position, will be replicated on the means of the copiers.
In 2020, Bitget will be launched “One-click copy trading”. This will very quickly experience significant success with the exchange’s customers. As it evolves, the service will be available in two versions to work on spot market (spot) and on that off futures contracts. In addition strategies created by traders. They are available on the site Bot Copy Trading.
To access Copy Trading you must create an account on Bitget. The functionality is then available in the website menu. Before you get started, take a moment to read our guide to copy trading.
The “Smart copy” upgrade
The Bitget team is constantly looking to improve its services. In addition, it places great emphasis on user feedback. This synergy aims to provide the most user-friendly and user-friendly trading experience possible.
There Bitget copy trade upgrade covers multiple aspects of functionality and brings greater clarity and simplicity to subscribers.
They now have an account dedicated to “Copy Trading Futures”, separate from the simple “Trading Futures” account. In addition to providing a better visibility of assets and current tradesthis prevents any liquidation of a position in one of the Futures accounts also affecting the other.
Now users have two options: diversified follow-up and smart copy. They will thus be able to choose one or the other in relation to their risk tolerance profile and the management of their investments.
This development applies to both Spot and Futures copy trading.
Smart copy mode
This new mode offers possibility to automate the calculation of copy trading costs based on a certain proportion of expert traders’ funds. In other words, if the expert trader commits 10% of his capital to a trade, the system will reveal same share of the subscriber’s funds. In addition, the new smart copy system replicates the composition of the expert trader’s portfolio.
This mode is available in only two steps and does not require complex settings.
You can follow up to 50 expert traders by allocating part of your capital to an independent investment pool for each of them. You decide how much you want to allocate to each expert. This allows for smooth out risk by diversifying strategies.
In practice, you just need to select the retailer you want to follow and click the “Copy” button. Take the time to compare the statistics of each trader before choosing the one whose strategy you want to copy.
By default, the site will offer you the “Miscellaneous Follow” mode. To take advantage of the new smart copy mode, you must perform a manual upgrade. Click the arrow button (1) to display the modes, then “Upgrade” (2).
Once the upgrade is complete, set the amount you wish to allocate to the trader. Minimum investment is 50 USDT. You can transfer money from your Futures account or make a purchase.
After that, you can access advanced settings by clicking “More Settings”.
The available options are:
- Automatic observation: for copy automatically the new Futures trading pairs from the expert trader.
- Futures Trading Pairs: to change trading pairs.
- Risk management: The relationship between “stop loss“, “take profit” (optional), Maximum amount invested.
Finally, click “Copy” to start tracking the trader’s positions.
Note that in this mode you are using the expert trader’s margin mode by default. In addition, changes to the investment amount will only affect the settings of a single expert trader.
The original copy trade mode is now called “Diverse Follow”. Then you deliver a single pool of funds that will be distributed among all the traders you follow.
This upgrade reorganized the My Deals page, renamed Subscriber Center. You access it via your Assets (Portfolio) menu, then Copy Trading Futures.
The Overall Performance page has been added for view your overall metrics of copy trading, including total win rate, win rate and the total number of copied trades.
Copy trade transactions under different copy and smart copy modes are managed separately. You can query and view detailed data in both modes.
This development brings enormous comfort of use by automating the copying of various transactions and the allocation of funds from the traders you follow. It is not necessary to have all the assets anymore, the system manages the purchases itself. This also gives you access to certain parameters, such as the trader’s confidence level. Bitten offers an upgrade to copy trading that will really ease the user experience.