Hi It's Unicorn

 

“Copy Trade” is a special feature of Bitget, which is quite easy for novices to start trading. You can copy excellent traders’ cryptocurrency investment strategies. Here I will tell you how to use copy trade on Bitget.

 

Step 1. Transfer coins to contract account

 

Using copy trade makes you can invest in cryptocurrency easily, but you need to manage all risks by yourself. In this process, you may earn profits or lost funds in investment. Nobody can guarantee you 100% profit. Therefore, you have to measure the risk and control it by yourself! If you follow a good trader, you can earn profits. On the contrary, if you follow the wrong strategy, your funds will lost.

 

Copy trade is one of the contract trade, so you need to transfer funds to the contract account before you start to use copy trade. According to the coin which invested by the trader you like to follow; meanwhile, you can decide how much coins you want to transfer to the corresponding currency contract account.  

 

➢  Log in to Bitget account and click assets. 

Here we will use USDT as an example and transfer USDT from Spot account to the BTC wallet of the contract account.

➢  Click “Transfer" of USDT

 

 

➢ Select the currency you like to transfer to and enter the amount. The transfer between spot account and contract account is completed after you confirm it.

Step 2. How to use “Copy Trade” on Bitget. 

 

➢ Enter to Bitget homepage and click “Copy Trade” on the upper side. You can see overall transaction data of each trader, including the P/L ratio, win ratio, and so on.

 

➢  You can also sort the traders through the performance according to the filtering conditions.

 

➢ Click to trader’s page , and there are more detailed transaction record, such as historical positions, open price, close price, yield, current order information, contract currencies... etc.

 

Through this historical information, we can know what the trader’s strategy is, such as what currency the trader usually trade, how much leverage the trader use. We can use these information to help us make choices.

 

Step 3. Set copy trade information

 

➢ Once the trader is selected, you click “follow”  button on the trader page to enter the copy details setting as following.

There are five function that you can set on the platform.

 

1. Contract

2. Follow Mode

3. Leverage mode

4. Copy trade amount

5. Advanced setting

 

(1) Contract 

 

It refers to the contract which is trading by the trader currently. You can see above picture what the trader are currently trading is ETH/USDT. We can choose to copy all the currency contracts, or just follow few of them.

 

(2) Follow Mode

 

You can select to set the transaction settings uniformly or respectively for the copy contract. The transaction settings include the leverage mode, copy trade amount, and advanced setting. If you are not familiar with these functions, unified setting is good for you.

 

✓ Unified Setting: All copy contracts must follow the same transaction settings.

✓ Respective Setting: You can individually set the transaction settings of the copy contract. 

 

(3) Leverage mode

 

There are three types of leverage modes: Contract setting, Follow the trader, and Customized.

 

Contract setting: Open a position completely according to your own position leverage, which has no connection with the trader's leverage. For instance, the leverage of your contract is 10x; even if the trader's leverage is 50x, the contract you follow will still be 10x. The current leverage of one's own position can be known from "View Current Leverage Information”. If you want to change your position, you can go to "USDT Contract" to make adjustments to each currency.

 

Follow the trader: Fully follow the leverage opened by the trader. The trader opens a ETH contract transaction with a leverage of 50x, you will also open a contract transaction with a leverage of 50x according to the setting. Unless the balance is insufficient, or all setting will be the same.

 

Customized: You can set the leverage of long and short positions by yourself. It will fully refer to the leverage you set first when the trader opens a position.

 

(4) Copy trade amount

 

There are two types of copy trade amount: Fixed cont and Fixed Ratio.

 

Fixed count: No matter how many contracts the trader you follow opens, you will be opened according to the number of contracts set by yourself. Unless the balance is insufficient, the system will open contracts according to the maximum number you are available to open. If you set the amount to 1, only one will be open; no matter how many contracts the trader open. 

 

The value corresponding to different currency contracts is also different. For instance, 1 BTC = 0.001 BTC, 1 ETH = 0.1ETH

 

Fixed Ratio: According to the ratio you set to open the contract. For instance, the trader opens 100 count. The ratio you set to 5 times, and the amount will be 500 count; likewise, the ratio you set to 0.5, and the amount will be 50 count. 

 

(5) Advanced setting

 

You can set the stop loss ratio, take profit ratio and the maximum amount of positions here according to personal needs.

 

Everyone can apply to be the trader on Bitget. If you are confident in your trading strategy, you can apply for it; and, you may get 10% of the follower's profit as a profit share. This 10% profit is from the profit of the copy trade, which means that if you make your follower earn USDT100, the system will automatically transfer USDT10 to the trader as profit. For the follower, you need to pay 10%of the profit as a service fee when you use the trader’s strategy to earn profit. On the contrary, if you lose fund in the copy trade, you don't need to pay any extra fees.

 

✓Historical profit does not mean that you can earn the profit in the future, so we must be cautious about managing risks.