This guide provides the essential steps to effectively set up and operate the advanced copy trading software designed for futures trading on a major exchange. By following these instructions, users can learn to manage both lead and copy trading accounts, configure settings, and monitor performance.
Getting Started: Purchase and Initial Setup
The software requires a purchase before access is granted. Upon completing the transaction, you will receive a web address, a username, and a password. Use these credentials to log in directly through a compatible web browser.
For the best experience, it is recommended to use the latest versions of Microsoft Edge, Google Chrome, or Mozilla Firefox.
Enhancing Account Security
Immediately after your first login, prioritize your account's security by changing the default password. Navigate to 'Account Settings,' then proceed to 'Security Settings,' where you will find the option to update your 'Account Password.'
Configuring Your Lead Trading Account
A lead account is the primary account whose trades will be copied by others. To set this up:
- Locate the 'Lead Management' section in the dashboard.
- Select 'Lead Account' and click the 'Bind Lead Account' button.
- A dialog box will appear. Here, you must enter a chosen name for the account and the required API credentials from your exchange account (API Key, API Secret, and Passphrase).
- Adding a brief remark can help for future identification.
- Confirm and save the details.
Please note that for lead trading, the API key only needs 'Read-Only' permissions. This is a crucial security measure.
Setting Up a Copy Trading Account
A copy account automatically replicates the trades from a designated lead account. To bind a copy account:
- Go to 'Copy Management' -> 'Copy Accounts'.
- Click on the 'Bind Copy Account' button.
In the new dialog box, fill in the following parameters:
- Account Name: An identifiable name for the copy account (e.g., a client's name).
- Lead Account: Select which lead account this copy account should follow.
- Copy Ratio: The multiplier for trade sizes. The default is 1.
- Calculation Method: Choose how trade sizes are calculated ('Direct Calculation' or 'Balance-Based Calculation').
- Exchange: Select the appropriate exchange and input the corresponding API keys.
- Enable Copy Trading: This must be toggled on for automatic copying to begin.
- Enable Capital Following: If enabled, fund transfers made in the lead account will be mirrored in the copy account.
- Reverse Copy: When activated, the copy account will take opposite positions to the lead account.
Understanding Copy Trade Volume Calculation
The size of each copied trade is determined by the Copy Ratio and the chosen Calculation Method.
- Direct Calculation:
Copy Volume = Lead Trade Volume * Copy Ratio - Balance-Based Calculation:
Copy Volume = Lead Trade Volume * Copy Ratio * (Copy Account USDT Balance / Lead Account USDT Balance)
Managing Copy Relationships in Bulk
The software allows for efficient management of multiple accounts. You can batch assign or unassign copy accounts to a specific lead trader from the 'Lead Management' section. Simply use the interface buttons to move accounts between 'followed' and 'not followed' lists, then confirm your changes.
Controlling Lead and Copy Functions
After binding accounts, you must manually activate them. You can start or stop a lead account from broadcasting its signals from the lead account list. Similarly, you can enable or disable individual copy accounts from the copy account list, with an option for bulk actions to manage several at once.
Monitoring Activity Through the Copy Log
The 'Copy Log' under the 'Copy Accounts' menu is a vital tool for tracking all copy trading activity. Regularly reviewing these logs is highly advised to quickly identify and resolve any potential issues that may arise during the automated copying process.
Analyzing Performance with the Live Dashboard
The live dashboard provides a comprehensive overview of trading performance. It aggregates key metrics such as total profit and loss (P&L), return on investment (ROI), win rate, and profit-to-loss ratio. Additionally, it features intuitive profit curves and a detailed ledger that clearly displays every action, including order openings, additions, reductions, and closings.
Reviewing Profit and Loss Details
For a granular breakdown of financial outcomes, navigate to 'Lead Management' -> 'Lead Earnings'. This section allows both lead traders and copy traders to examine detailed profit and loss statements for their respective activities.
Frequently Asked Questions
What are the minimum API permissions required for the lead account?
The lead account API key only requires 'Read-Only' permissions. This enhances security by ensuring the software cannot execute withdrawals or make trades on its own, it can only read trade data to be copied.
What is the difference between 'Direct' and 'Balance-Based' calculation?
Direct calculation copies trades using a fixed multiplier (the Copy Ratio). Balance-Based calculation dynamically adjusts the copy size based on the proportional difference in USDT balance between the copy and lead accounts, which helps manage risk relative to account size.
Why is my copy account not executing any trades?
First, ensure both the lead account and the copy account have their "Enable" toggles switched on. Second, verify that the API keys for the copy account have the necessary 'Trading' permissions enabled on the exchange. Finally, check the Copy Log for any specific error messages.
Is it possible for one lead account to be copied by multiple users?
Yes, the software is designed for this purpose. A single lead account can be connected to numerous copy accounts, allowing a strategy to be replicated across many followers. You can manage these relationships easily using the bulk setup tools.
Can I practice copy trading with a demo account?
This depends on whether your connected exchange offers demo or testnet environments that support API functionality. You would need to generate API keys from that demo environment and bind them to the software, just as you would with a live account. 👉 Explore more strategies for demo trading
What should I do if I see an error in the Copy Log?
The log typically provides a reason for the error. Common issues include insufficient balance in the copy account, incorrect API permissions, or a temporary connectivity problem with the exchange. Address the specific issue mentioned in the log message.