๐ฃ Copy Trading Guide for Beginners! | How to choose a good trader? ๐๐น
If you want to do copy trading on Binance, choosing the right trader is the most important decision. Wrong trader = Loss! โ
โ So, when selecting a trader, definitely check the following points:
๐น 1. Consistency of Profitability:
Is the trader making regular profits within 3-6 months?
๐ Just making more profit in one month won't be enough, consistency is needed.
๐น 2. Amount of Risk (Drawdown):
Drawdown between 10%-30% is safe.
๐ More Drawdown = Higher risk of loss.
๐น 3. Mix Your Trading Style:
Scalping, Swing, or Position tradingโwhat is suitable for you?
๐ Frequent trading incurs higher fees, so keep an eye on that.
๐น 4. Followers and AUM (Assets Under Management):
A trader with many followers and significant AUM is generally reliable.
๐น 5. Copierโs ROI:
The trader is making a profit, but what are the copy traders (followers) benefiting from? ๐ค
๐น 6. Fee Structure:
How much Performance Fee is being charged? If it's high, a large portion of the profit will be deducted.
๐ Advice:
Start copying with a small amount first, always keep the Stop Copy and Stop Loss options on!
๐ฅ If you want, I can suggest some good tradersโjust let me know which copy trading platform you are using (Binance, Bybit, MEXC, etc.).
๐ฌ How did you like this guide? Don't forget to let me know!
๐ Share with new traders!
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