I assume you already had bitcoins for quite some time now and by holding you hope that your BTC will make you rich someday. Unless you’re already rich, hodling bitcoin won’t make you wealthy the way you want to be - hookers and blow, lambos and all. This article explains why you should be margin trading your stack of bitcoins.
Anyway, you came here to find out “how to copy bitcoin trades from master traders for free”. Just like you I hate those paid signal groups which often dupe people into buying worthless lifetime subscription or copy trading service that either charge you subscription fees yet the master trader sucks. Or maybe you experience a low-fee subscription mirror trading service but you have to deposit large funds (smells like a future exit scam in the making).
Well, the copy trading service I’m about to share to you, has no catch at all.
The way it works is that the Bitcoin margin trading exchange where your trading funds are to be deposited is the one paying the third-party copy trading service and the copied trader. Each time a follower or a copier’s portfolio executes a trade, the exchange pays these service providers. I’m guessing it comes from the trading fees the exchange charges. The thing is you pay the same amount of trading fees whether you’re copying or doing the trade yourself.
Basically the copy trading platform is just a bridge for master traders and their followers. The master trader opens a long or short position in the exchange and it broadcasts an API to the platform. The platform then opens a position in the follower’s trading account through API. The same goes for closing a position.
So, there is no way the copy trading service will be able to scam you. The API you set in the exchange doesn’t allow for withdrawals.
Ready to make passive income on your Bitcoin portfolio? Follow these steps:
- Sign up to this well-known Bitcoin margin exchange.
- Sign up to the third-party copy trading platform.
- You will need to set up API keys from the exchange to the platform so that the platform will automatically make trades for you coming from the master trader’s trades.
Inside the platform, there is a PDF file where you can follow instructions in order to start the copy trading.
Word about our master trader
Our master trader is currently the number one trader in the rankings. He uses his own bots with some manual oversight. He states he has ten years of trading experience. You don’t have to believe his word. The following is his trading history in the copy trading platform.
I believe I understand how his bot works. I think it does dollar-cost-averaging when micro-market trends go against the initial position. Thereby adjusting to a higher or lower position and then closing into profit. I successfully did an experiment with this in Bitmex (see pic below).
It is indeed profitable but because profits come in small amounts, it is not possible to sustain trading the strategy manually. You have to automate it for sustained profits. Thus, copy trading our master trader’s bot is perfect.
Now there are other winning traders in the copy trading service, you can actually browse their profiles after you sign up. I chose this trader because he’s great at scalping trades and currently has the lowest drawdown. If I plan to do riskier trades, I’ll probably do it myself. However, I also want passive income. Who doesn’t, right?
Why am I not sharing my own trades?
I actually plan to share my own trades but since I’m relatively new to this service, I have no trade history to brag about except my Twitter calls. In fact, if you do some browsing at the platform’s trader ranking, I’m there. I have yet to build up a trade history so expect it later.
Now is the time to make your bitcoins work for you. Copy trading winning traders is the best because it frees up time for you to do other things.