How to copy trades on Binance ?
Easiest way to trade when you are new to trading is to copy pro traders.Binance provided complete process through BinanceAcdemy.
Here is a step-by-step guide to copy trading on Binance :
Step 1: Create a Binance account
- Visit the Binance website and click on the "Sign Up" button
- Complete the registration and verification process as guided.
Step 2: Deposit funds
- Navigate to the "Wallet" section and select "Deposit"
- Choose the cryptocurrency to deposit and follow instructions to transfer funds from an external wallet to a Binance account
Step 3: Access the Binance Copy Trading platform
- Navigate to the Trade menu at the top and click on the Copy Trading option
Step 4: Browse and select a Lead Trader
- On the Copy Trading platform, find a list of available traders to copy
- Each trader's profile includes important information such as trading performance, strategies, risk levels, and historical data
- Select a trader that aligns with investment goals and risk tolerance
Step 5: Allocate funds to copy trading
- Allocate funds to copy the selected trader's trades
- Note that the Binance Copy Trading account balance is separate from the regular Binance account
- Choose the method and specify the amount of capital to allocate using Fixed Amount or Fixed Ratio
Step 6: Monitor and adjust
- Monitor the account regularly and keep an eye on the performance of copied trades and overall market conditions
- Adjust copy trading settings or stop copying a trader if their performance does not meet expectations
‼️Risk Management ‼️
Very important thing is to manage your risk. Do not follow gamblers using high leverages, For example its been months still my trade on Binance copy trading is active and regardless of wild dumps, my account is safe so does my copiers too. Because i have planned my risk and followed margin and leverage accordingly.
Soon #BTC will show potential upward break through and this will lead us to book profitable trades, Always do your own research before copying anyone.
