Copy trading by Cryptorobotics is a financial service that enables users to automatically replicate the trades of a master trader in real-time and in equal proportions relative to their total trading balance. This means that if a master trader places an order that utilizes 10% of their balance, the user following them will also place an order using 10% of their own balance.
Currently, copy trading services are available on major exchanges – Binance and Binance Futures, allowing traders to take advantage of professional strategies without manual intervention.
How Does Copy Trading Work?
To access copy trading, users need to navigate through the Algotrading tab on the trading platform. Within this section, they will find multiple trading channels, each offering key information such as:
.The number of subscribers.
.The total number of trades executed.
.The average monthly profit.
.The subscription fee per month.
For more detailed insights, users can click the “View Statistics” button, which leads to an overview of a selected channel’s performance. This includes details like the minimum balance required for accurate trade replication and a profit chart for tracking historical returns.This prevents potential conflicts or errors in order execution.
Key Considerations for Effective Copy Trading
To ensure smooth trade replication, it is crucial to connect a separate trading account that does not contain other active trades or algorithmic trading tools. This prevents potential conflicts or errors in order execution.
This means that if a master trader places an order that utilizes 10% of their balance, the user following them will also place an order using 10% of their own balance. This prevents potential conflicts or errors in order execution. Additionally, users can review past trades with a one-day delay to analyze trading strategies. If they have already subscribed to a channel, they can monitor their own trade history, including open and closed transactions.
Each trade displays important details such as:
.The trading pair used.
.The number of coins traded.
.The trade volume in USDT.
.The average purchase price and profit.
Since the copy trading service follows a position-based system, one or multiple orders may be placed to buy or sell an asset. The closing of positions can occur either partially or fully, depending on the market conditions and the master trader’s strategy.This prevents potential conflicts or errors in order execution
Subscription and Minimum Balance Requirements
To activate copy trading, users must:
Subscribe to a preferred trading channel or connect it via the Profit Sharing system.
Maintain the minimum required balance in their exchange account to ensure correct trade replication. For instance, a channel might require a minimum balance of $670.
Settings and Control Features
Users can pause or stop the tool at any time. If they choose to stop trading entirely, they also have the option to sell any currently held assets.
Conclusion
Copy Trading is an innovative solution for traders looking to leverage professional trading strategies without actively managing trades themselves. By carefully selecting a reliable master trader, ensuring proper account setup, and monitoring performance, users can optimize their copy trading experience and potentially achieve consistent market gains.
