How does Copy Trading work?
Copy Trading allows users to automatically copy positions when a selected user (called “Leader Trader”) opens a position.
Aluna also introduces a novel feature called Counter-Copy Trading, which allows you to do the opposite of what the “Leader Trader” is doing. For instance, if your Leader Trader opens a LONG on BTC USD you’ll open a SHORT, then when they close their LONG position your SHORT will be closed at the same time.
Step 1: Find a Trader to Copy
Browse through traders from the Leaderboard, or from the Insights on our homepage and find one whose trades and performance you like.
Click on their username or profile picture to navigate to their Profile page.
Step 2: Click on the “COPY” Button
On the top left of the trader’s Profile, click on the “COPY” or “COUNTER COPY” button.
If you want to open the same position for every position opened by this trader, click on “COPY”. If you want to do the opposite of what this trader does, click on “COUNTER COPY”.
Step 3: Enter the “Value per trade”
Select which exchange you want to copy/counter the trader on, and enter the “Value per trade” in USD. This will be the amount used to open a position on your account when your leader trader opens his position.
In case the Leader Trader opens a position in a different market where the quote symbol isn’t USD, e.g. ETH BTC, we will automatically calculate the amount of BTC traded in order to match the intended Position Size in USD value.
For now, the minimum Value per trade is US$20, and the maximum is US$250. The maximum limit will be increased in the future after this initial phase.
Step 4: Click “Start Copying”
Click “Start Copying” or “Start Counter Copying”, and you’re good to go!
Every time this trader opens a new position on the Bitfinex margin market, you automatically do the same (or the opposite for counter-copy trading) with a market order.
When the leader trader closes his position, you will close your position with a market order automatically.
How do I Stop Copy Trading?
To stop copying the leader trader, click on the “COPYING” button at the top the Profile, then click on “Stop Copying”.
- You will need a Bitfinex account and must first connect your Bitfinex API Key to use this feature.
- You can copy more than 1 trader concurrently by repeating the steps above.
- If you already have an open position on a market, new positions from your leader trader on the same market will not be copied.
- A maximum of 10 copy positions per leader can be opened per day.
- If your leader trader’s API Key gets disconnected while you have active copy-trade positions, you will be notified that you need to manually close your copy-positions yourself.
- Copy-trading is in Beta. Keep track of your own copy positions at all times and report any issues if they happen. By using this feature, you acknowledge that you are fully responsible for any risk involving copying someone else’s trading strategy and also for any technical issues potentially happening during the beta stage.