Bybit, a virtual currency exchange, allows you to access the spot and futures markets and safely experience trading by copy trading. Copy trading is recommended for beginners, as it allows you to reproduce the trades of professional traders without any prior knowledge, making it relatively easy to make a profit. Copy traders’ trades in real time and make money.
- Main features and functions of Bybit
- What is copy trade
- How to start copy trading
- How to exit copy trading
- When you cannot trade with copy trading
- Copy trading leverage
- Copy trading cost
Main features and functions of Bybit
Bybit is a virtual currency exchange that is popular and has a good reputation among the latest global exchange market rankings. The maximum leverage is 100x, 200x, and it is very popular with users. The support center’s guidance and response are also very fast. Not only Bitcoin but many other coins can be easily traded. As soon as you register and verify your identity, you can start trading with your copy trading account. You can enter and increase even with a small amount of crypto assets and funds.
There are many coins available
Coins handled include different major altcoins such as BTC, ETH, XRP, and USDT. After purchasing, taking profits or cutting losses can be decided at the trader’s discretion. The margin is 0.10%, and the fees are low. Also, when you hold a position for a certain period of time, the funding rate will automatically occur and will be distributed according to each investment amount.
Full of security measures
Bybit has excellent security measures and supports two-step authentication, so the content is excellent. The terms of service are also solid, and cold wallets are used. You can also download your transaction history from the system history. For this reason, a variety of major security services and systems are applied and provided, so users can feel safe.
What is copy trade
Copy trading is a method of replicating the trades of experienced traders. Perform the same trades as experienced traders using your own account funds. This method is recommended for beginners as it is easy to make profits by imitating the trades of experienced traders. It will continue to be useful as the original amount will increase significantly in no time. However, it is not 100% possible to win, and you may incur some losses, so please agree before proceeding.
How copy trading works
Copy trading is the simultaneous coordination of the trades of the expert trader and followers (those who imitate the trades of the expert trader). When a follower chooses a master trader to copy and sets the copy order parameters, trades are placed as market orders according to the trades made by the master trader, and are automatically reflected in the follower’s account.
Master Trader Rank
There are usually different types and ranks of master traders. Master traders can gain new customers by promoting their trading strategies. You can then receive a fixed percentage of your net profits as compensation. It starts with the lowest rebates and ends with very high rewards. If you have time, check your level in advance.
|Profit sharing ratio
24-hour trading agency
Copy trading involves entrusting your trades to a master trader 24 hours a day, 365 days a year. During that time, you can work or go play. It is recommended for busy people because you can have a professional trade for you. You will also learn the important points of profit taking in a fluctuating market when trading derivatives.
study of trading
Master traders have a long trading history, and there are veteran classes with more than 10 years of experience. You can automatically copy the trades of master traders who are advanced traders and check the profit and loss in real time. Beginners can also learn by watching this.
How to start copy trading
To start copy trading, you will first need to open a Bybit account. Please refer to the article below for information on how to open one. You can also trade on the app. Campaigns are held from time to time, and there are many to choose from. Please note that there are no complete guarantees in investing, so consider drawdowns as a possibility. Also check the content policy and terms of the official website.
Copy trade page access
To participate, please first log in. Please access the copy trade page. After logging in, select “Copy Trade” from “Tools”. It’s also very refreshing because it has unique content that you won’t find in other companies. Even beginners can use these tools to make money by buying and selling.
You will be redirected to the copy trading page. Check the trading history, select your favorite master trader and click “Follow”. To make a selection, you need to make decisions based on data such as risk management, whether the investment is negative, the investment amount, and the profit rate. Basically, Bybit has high leverage, so it depends on the method, but there is a chance to earn a considerable amount of money with stocks even with a small amount.
Set the investment fund (how much to invest in total) and copy loss cut (the amount to stop when the cumulative loss reaches the setting). Copy guard is a setting that starts copying at the optimum price. In the detailed settings, you can set the position amount and the number of contracts. Then click “copy now” and you’re done.
Basically, the following two methods are available for copying trades, so please choose the one you like and set it up. Smart copy is recommended for beginners and leaves everything to the trader. If you want to set leverage, etc., please use the high-performance copy (for intermediate users).
|smart copy mode
|Copy asset ratios and conditions and trade
|High performance copy mode
|Adapt your own leverage etc.
Closing Positions and Stopping Trades
If you want to manually stop asset management, you can do it in the follower center. By going to the Orders tab, you can see the trade positions that are currently being traded. You can stop by pressing the “Payment” button. In addition to settlement, you can also set stop loss and take profit. To get to the Follower Center, select “Copy Trade Results” on the Master Trader screen.
Visit the Follower Center to see your current trading status, how profitable you are, and your margin balance.
How to become a master trader
You have to be a fairly skilled trader, but you can also become a master trader. To become a master trader, you only need to satisfy “7 or more transactions in the past 30 days”, “60% win rate and 30% ROI or more”. Those who meet this condition can apply. Apply from the link below to become a master trader.
How to exit copy trading
To end a copy trade, click “Copy Trade Results” on the top right of the copy trade screen, select “Master Trader”, and click “Details” from the item of the trader you want to unfollow.
You can unfollow the Master Trader and end the copy trade by clicking “Unfollow”.
When you cannot trade with copy trading
There are times when you cannot trade with copy trading. In most cases, one of the following cases applies to you, so please check.
full of followers
Master Traders have a follower limit. Especially popular skilled traders always have followers, so if the site is full, you will not be able to follow them again. In this case, you will have to wait until the slot is available.
If your balance is insufficient, you will not be able to copy trade. In order to copy trade, you will definitely need funds, so you must make a deposit.
bonuses and coupons
Bonuses and coupons can be used in normal trading, but bonuses and coupons cannot be used in copy trading.
Copy trading leverage
Leverage may be a concern when copy trading. Generally speaking, the higher the leverage, the higher the risk. If you don’t have the funds, it’s best to keep it at least double. If you set a high leverage from the beginning, you will be forced to take a loss cut.
Copy trading cost
The trading fee when copy trading is 10% of the profit. Don’t worry, there are no costs if you lose in copy trading.