Opening and following a transaction on the futures side requires serious time and strong psychology. While we deal with our other tasks and experience stress in daily life, especially loss-making transactions tire us out. This is where Copy Trade comes into play. To summarize in general: automatically tracking the transactions made by a particular Trader. There are centralized and decentralized exchanges that allow us to do this. At the same time, two types of transactions can be copied: forward and spot.
Copy Trade tools are usually included in the exchanges' own application. However, it can work independently and integratedly under another application name, as Binance does. For example, we can connect our Binance account directly to the TraderWagon platform and use our Binance wallet very easily. When using decentralized Copy Trade platforms, you must use the balance in your decentralized wallet. When we get into these tools, you can easily register to the Trader's portfolio, whose transactions you will copy. In this way, you can clone exactly every transaction opened by the person whose portfolio you registered after registration. This balance is usually automatically debited directly from the balance in your spot wallet. Additionally, when registering to a portfolio; How much balance you will trade with, max. You can make your own adjustments using options such as your leverage ratio and isolated/cross margin. There will definitely be some feature differences between Copy Trade platforms.
Before you start Copy Trade, be sure to research who the leading Trader you will register with is. Apart from this, when you enter someone's portfolio, you will see a lot of historical data. You can get a general idea by looking at them. Remember that you risk losing all your money, especially if you are going to copy futures! If the person whose transaction you will copy does this in a professional manner, it may reduce your risk. However, even though you are copying a reliable person, it is important to remember that everyone makes mistakes.
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