Binance offers a Copy Trading feature that allows you to automatically replicate the trades of experienced traders, enabling you to benefit from their strategies without actively managing trades yourself. Here's how you can get started:
1. Access the Copy Trading Platform:
Log in to your Binance account.
Navigate to the [Trade] menu at the top of the page.
Click on the [Copy Trading] option to access the platform.
2. Select a Lead Trader:
On the Copy Trading platform, you'll find a list of lead traders along with their performance metrics.
Review their historical performance, risk levels, and strategies to choose a trader that aligns with your investment goals.
3. Set Up Copy Trading Preferences:
After selecting a lead trader, click [Copy] to start.
Customize your copy trading parameters:
Copy Amount: Specify the total amount you wish to invest.
Copy Method:
Fixed Ratio: Your trades will mirror the lead trader's trades proportionally.
Fixed Amount: Each trade will be executed with a fixed amount set by you.
Total Stop Loss: Set a maximum loss limit to manage risk.
Personal Pairs Preference: Choose specific cryptocurrency pairs to include or exclude from copy trading.
Review and accept the Profit Sharing % and User Service Agreement.
Click [Save] to apply your settings.
4. Manage Your Copy Trading Account:
Funds allocated for copy trading will be transferred from your Spot Wallet to your Spot Copy Trading Wallet.
Monitor the performance of your copied trades regularly.
You can add or remove assets from the running portfolio and review relevant transfers on the platform’s history page.
If needed, you can stop copying a trader at any time.
For a visual guide and more detailed instructions, you might find the following tutorial helpful. #Dutchmandonpedro
