Copy my Trades: How to Automatically Copy Bitcoin Trades from Master Traders for Free
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.
Your capital is in a separate site which is the exchange. The service or the trader cannot withdraw your funds, they can only trade it on the exchange. 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.
Which Master Trader to follow?
Now there are several winning traders in the copy trading service, you can actually browse their profiles after you sign up. My advice to you is to choose the trader with one of the lowest drawdown that’s real. What do I mean real? I’m talking about traders who don’t risk a large percentage of their recommended margin by holding already large losses in their active positions. Remember “Let your winners run and cut your losses early.” You can always check out a traders’ current unrealised Profit and Loss in the platform.
What about me?
I don’t regularly trade my portfolio and when I do, it is in a different platform from the copytrading one. I do however have a practice account trading history. You can see I have intermittent trading sessions. I also make it a point to fix wrong trade direction in my positions, so you can see there are hardly any losses.
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.