Bitget Funding Fee
April 27, 2023Bitget Token
April 27, 2023Are you too busy to keep up with the fast-paced crypto market?
For those of you who are, Bitget offers an innovative technology called copy trading.
In this article, we’ll take a look at copy trading on Bitget.
What is Bitget Copy Trading?
Copy trading is a form of social trading that allows users to copy the trades of professional traders.
When a user selects a professional trader, they can allocate a portion of their funds to copy their trades in real-time.
This means that every time the professional trader opens or closes a trade, the same trade will be executed in the user’s account in proportion to the amount of funds allocated.
How to use Bitget Copy Trading
- Sign up for a Bitget account and complete the verification process.
- Fund your Bitget account.
- Hover your mouse over “CopyTrading” at the top of the main page
- Select “Futures Copy Trading” or “Spot Copy Trading” from the drop-down menu and click on it.
- Select a professional trader based on your investment appetite, performance, etc. and click the Follow button.
- Set the amount of funds you want to allocate to the professional trader, advanced settings, and click Authorize.
Copy Trading Benefits
- Users can learn from professional traders and potentially improve their own trading performance.
- When an expert trader is selected, their trades are automatically copied, freeing up time for other activities.
Copy Trading Risks
- It involves the same risks as any other trading strategy, and you may lose money even if you follow a professional trader.
- You may end up relying on professional traders rather than developing your own trading skills and strategies.
Cautions
- Users should carefully select a professional trader based on their investment appetite and rate of return.
- Users should regularly monitor their trades to ensure that they are consistent with their financial goals and risk tolerance.
- Users should consider following multiple professional traders with different trading strategies to reduce risk.
- Copy trading should not be a user’s only trading strategy. It is also important to develop and implement your own trading strategy.
Conclusion
In this article, we learned about copy trading on Bitget,
Copy trading is an innovative technique that can potentially improve your trading performance and free up time for other activities.
However, copy trading should not be your only trading strategy. It is also important to develop and implement your own trading strategy.
