First of all, How to Choose a CopyTrader?
It's up to you which trader to copy, but here are some suggestions to take into consideration:
- Which quote: A way to choose the quote is to decide; what is the coin you prefer to accumulate? If it's Bitcoin, you can filter to view traders who trade using Bitcoin pairs. Or if it is USDT select USDT as the quote.
- Which exchange: If you created an account with Zignaly Exchange, or connected your own Binance or KuCoin account, then you can filter to only list copytraders providing signals for the exchange you are using
- Who is the best one?: Once you set your desired filters like Quote and Exchange, you'll see the entire list of traders for this combination, we encourage you to set the time frame to at least 90 days. It's always a good idea to consider long term results. Who is able to get good results even with strong market movements?
To view more specific information of each copytrader click VIEW TRADER
Tips when choosing a copytrader:
- look at long term statistics, a trader that has shown continuous results
- how informative are they on their copytrader page, do they provide details of their strategy, why it succeeds, what drawdown is to be expected, do they offer an independent website for more information
- do they have an active community or way to be reached (discord, telegram)
- does this strategy fit with what you are looking for, some prefer more conservative strategies, and others are more open to high risk/reward strategy.
After you've chosen a copy trader, Here's how to start copying:
- Select the exchange account you would like to use for this copytrader
(top right corner of any Zignaly page)
- Select the Copy-traders button located on the left side menu, Choose a Copytrader
& click VIEW TRADER to see their details
- Select ‘Copy this Trader’
- Allocate your funds
Enter the amount you wish to allocate from your balance
What does this mean? Basically, this is the max balance the trader will use from your funds. If the trader uses 10% of his funds, it will replicate on your account using 10% of your funds proportionally.
Take into consideration that all the traders have a minimum amount to allocate, this is related to their strategy, and it's not possible to invest less than this amount.
Be sure that your selected exchange account has the funds needed to cover your allocated amount,
& that this is also in the quote the copytrader is using.
example: 100 USDT> you must have this amount of USDT, not the value in BTC or held in other coins.
- (unless it's free) Select pay using Coinpayment, once your payment goes through to the
Copytrader, it will list your expiry date, and you are now connected to this trader!
That's it! Just wait for the next operation, it will be replicated on your account automatically 😉
- Once a new signal is sent from your copytrader, you can view this on your dashboard under>positions >open