How to use copy trading？
Click here to use copy trading on Blofin: https://blofin.com/copy-trade and APP is also supported currently. Users don't need to apply for copy trading. If users want to use copy trading, transfer assets to copy trading first and choose the trader that you want to copy, then set the margin, trade amount, and leverage, your position will follow the trader successfully. After copy trading, users can transfer assets to their funding account. Copy trading-All master traders-Copy-Settings-Submit.
Currently, BloFin supports two copy modes: Fixed Amount and Fixed Ratio.
Fixed Amount: The amount you'll invest as a margin in each order you copy from this trader.
Fixed Ratio: Orders will be opened in proportion to the lead trader's position size
WEB
2. Click on [My Copy Trading] > [Transfer] to transfer your asset to the Copy Trading Account.
3. After transferring assets to Copy Trading, you can select the master trader to follow.
4. Fill in all the required fields to set up your copy-setting and click [Submit], then your copy-trading will be active.
Note: There are two modes for opening a copy trade: Fixed Amount Mode and Fixed Ratio Mode
Fixed Amount Mode:
Cost Per Order:
The amount you'll invest as margin in each order you copy from this trader.
Total Investment:
The total margin amount you'll invest for all orders with this master trader.
Margin Mode:
There are three options to select: Copy trader's margin mode, Cross margin, and Isolated margin.
TP/SL Setting:
BloFin Copy Trading supports copiers setting TP/SL in advance.
Leverage:
There are two options to select: Copy trader's leverage mode and fixed leverage.
Fixed Ratio Mode:
Total Investment:
The total margin amount you'll invest for all orders with this master trader.
Proportion:
Set the margin as a multiple of the trader's investment size. After setting the parameters, there will be an estimated margin per order and orders can follow for your reference.
Margin per order formula: Multiplier * master trader's order value / your fixed leverage.
Margin Mode:
There are three options to select: Copy trader's margin mode, Cross margin, and Isolated margin.
TP/SL Setting:
BloFin Copy Trading supports copiers setting TP/SL in advance.
Leverage:
There are two options to select: Copy trader's leverage mode and fixed leverage.
APP
1. Tap on [Copy Trading] on the homepage to enter the Copy Trading interface.
2. Tap [My Copy Trading] > [Transfer] to transfer your asset to the Copy Trading Account.
3. After transferring assets to Copy Trading, you can select one master trader and tap [Copy] to enter the Copy Trading Setting interface.
4. Fill out the fields required to set up your copy-setting and tap [Submit], and then your copy-trading will be active.
Fixed Amount Mode:
Cost Per Order:
The amount you'll invest as margin in each order you copy from this trader.
Total Investment:
The total margin amount you'll invest for all orders with this master trader.
Margin Mode:
There are three options to select: Copy trader's margin mode, Cross margin, and Isolated margin.
Leverage:
There are two options to select: Copy trader's leverage mode and fixed leverage.
Fixed Ratio Mode:
Total Investment:
The total margin amount you'll invest for all orders with this master trader.
Proportion:
Set the margin as a multiple of the trader's investment. After setting the parameters, there will be an estimated margin per order and orders can follow for your reference.
Margin per order formula: Multiplier * master trader's order value / your fixed leverage.
Margin Mode:
There are three options to select: Copy trader's margin mode, Cross margin, and Isolated margin.
TP/SL Setting:
BloFin Copy Trading supports copiers setting TP/SL in advance.
Leverage:
There are two options to select: Copy trader's leverage mode and fixed leverage.
1. Elite trader’s data viewable by copiers
An elite trader's history, current positions, and copiers are available to copiers.
History
- Position: Direction, leverage, and futures trading pair.
- Entry/close price: The entry/close prices are also displayed. The actual entry/close prices of followers' copied trades may be slightly different.
- ROI: Profit / Position opening cost *100%
Current Positions
- Position: Direction, leverage, futures trading pair, quantity, and unrealized P&L.
- Entry price: The actual entry prices of the elite traders are displayed.
- Unrealized P&L: The profit and loss of the current position held by the user. Unrealized Profit and Loss is changing with the change of the latest transaction price.
Copiers
- Days of Copying: The days that copiers follow the trader.
- Amount: The total principal of all closed orders that the follower has copied from the elite trader+Realized P&L+Unrealized P&L.
- Total Return: The total profit of all closed orders that the follower has copied from the elite trader.
2. Copier's margin
Margin
- The leverage of futures transactions is represented by a margin, meaning that you do not need to pay 100% of the asset when conducting transactions. You only need to invest a smaller amount of funds at a certain rate according to the leverage of futures transactions as represented by a margin. This fund is called the margin.
Copier's margin settings
- Fixed amount: It represents the margin cost per copy trade. (From 10-1000).
- Total amount for copy trading: Largest trade volume for copy trading. (From 10-50000).
- Margin Token: USDT
3. Margin modes for copiers
- There are three options to select: Copy trader's margin mode, Cross margin, and Isolated margin.
4. Copiers uncopy elite traders
- There are two ways to stop copying elite traders
A: Copy trading-My copy trading-Uncopy
B: Copy trading-All master traders-Copying-Uncopy
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What happens after I uncopy a trader?
a. After a trader is uncopied, your copied orders will not be affected. You can still copy the trader's closing position or choose to close the position manually.
b. The edited copy trading parameters only apply to new copy trading orders. Existing copied orders will not be affected.
5. Copier viewing "My copy trading"
Overview:
- Total assets: All assets in your copy trading account.
- Available: Assets that can be used to copy trade.
- Total Realized P&L: Total realized profit and loss during your copy trading
- Pending Profit Sharing: Deducted profit sharing and waiting to be distributed to the trader.
Copy trades
- Assets for Copying: The total principal of all closed orders that the follower has copied from the elite trader+Realized P&L+Unrealized P&L.
- Current Position Margin: The margin required for the position will vary with the change of the latest transaction price after the users open a position successfully.
- Trades: Trading frequency
Trade history
- Copied orders that have been closed.(Position: direction, leverage, futures trading pair, entry/close time, and closing profit)
Trader's Information
- The elite traders that you are currently copying. When they open a position, the system will open the same position for you. Users can also check open positions here. (Direction, leverage, trading pairs, entry price, open time, unrealized P&L, and so on).
6. Position closing for copiers
Upon following elite traders to open positions, there are three position closing scenarios.
A. Elite trader closes a position
When the elite trader closes a position, the system will also close the position for the follower.
B. Copier decides to close a position
B. Copier decides to close a position
Copiers can close the positions in their copy trades. (Go to My copy trading page to close any position.)
C. The loss of current copy trades is greater than available futures assets (liquidation)
A copy trade position will be closed by the system when the current unrealized loss of the position is greater than the available assets in the copy trading account.
7. How to Set Leverage
- Now, BloFin supports two types of leverage settings: Copy trader's leverage and Fixed
- When users choose a trader, they need to adjust their leverage to finish the copy. Leverage is From 1-20x.
- Attention: Please be in accordance with the actual leverage of different trade pairs. Users can adjust parameters on my copy trading page, but adjusting leverage is not permitted if users have open positions, and subsequent adjustments to leverage will be effective from the next copy trading.
8. Available Trading Pairs for Copiers
- Traders can select 50 trading pairs and copiers can check supported trading pairs on the traders' information page by clicking Copy Trading > All Master Traders > Copy > Statistical Data.
9. Copier’s Copy Order Limit
- The cost per order is 10-1000, and the total amount for copying is 10-50000. Users' copy orders must satisfy both requirements at the same time, or copy orders will fail. For example, the XRP price is 0.5 USDT, the leverage is 5, and the cost is 10. The contract size is 100 XRP. Position opening cost = Contract size * Quantity (cont) * Open price / Leverage. 10=100*quantity*0.5/5=1, so the minimum order amount is 100 XRP.
10. Copier's History (Funding fee, Transfer record, and Profit sharing)
- Click [Copy Trading]> [My Copy Trading]> [History] in the upper right corner