Copy Trading is a trading method that allows young/new inexperienced traders to automatically or manually copy positions opened and managed by more experienced professional traders. It permits the replication of a more trusted trader’s positions on social platforms and automated apps such as the Royal Q trading bot. The portfolio of the experienced trader is always displayed for the intending copier to make an informed decision. Copy trading allows the copier to connect to the experienced trader’s portfolio such that the copying process starts automatically. In this post, you will learn how to use the Royal Q bot to set up copy trading.
What is Copy Trading?
Copy trading is a system that allows junior or inexperienced traders to copy from experienced traders who trade the same products at the same time. The broker may allow the copying only of positions created by experienced traders. The junior trader can copy only one of the experienced trader’s positions at a time. It allows the junior trader to understand the optimal strategy and to trade successfully within the same system and timeline as the experienced trader. Why is Copy Trading useful? In the market trading world, the major traders follow the positions opened and managed by other traders on social media.
How to Choose the Right Copy Trader
It is essential to choose a copy trader that matches your trading goals and the style of trading strategy you would like to execute. It is important to look at a trading platform that has both in-built trading strategies and automated trading. Experienced traders looking for copy trading platforms that offer a market forecast and real-time trading functionality that allow them to get the best prices, buy and sell, get a good dose of news and industry insights. For newer traders, copy trading platforms provide a well-rounded selection of customized and published trading strategies that have been pre-optimized with no human bias.
How to Start Copy Trading in Royal Q’s Circle Synchronization
The first and most obvious step for aspiring copy traders to take is to set up a trading bot called Royal Q. You can use the Royal Q auto crypto trading bot to make your first trade without any hassle. Note that the bot trade 100% on its own. It is not controlled by anyone other than the owner of the bot. The next step is to create a trading account with Binance. You can do this easily and use the Royal Q bot to execute the trades. Remember to always copy traders with over $1,000 in profits or higher than the average transaction rates to avoid trading complaints from other traders. Assess the risk profile of the trader, based on the number of trades and their average daily trading volume. You should know if the trader is new or experienced. If the trader is an experienced trader, then you should not copy their trades. Follow the steps below to set up your copy trade in Royal Q.
1. Open the Royal Q app, click the Bottom function bar “circle”, and choose the best circle known as “FastProfit” and click “View” to enter the circle page
2. Click on the bottom “Apply to join”
3. Click on the “Circle Lord” strategy to enter the strategy page
4. Select the exchange of the exchange (Huobi or Binance) that you need to synchronize the policy, click the “sync strategy”
5. Synchronous policy pages set “first buy-in amount” and “number of strategy”, and choose whether to turn on “Synchronous Open Double Double”, click the bottom “Sync Policy” to start synchronization after setting complete.
6. Click “Cancel Sync” to terminate the synchronization policy (Note: Click “one-shot” before canceling synchronization, you will no longer loop after it is, or you can choose “liquidation”).
Copy trading is a quick and easy way for inexperienced and unsupervised investors to enhance their trading experience. It permits the replication of similar trade positions which were opened and managed by more experienced professionals. This way, the inexperienced investor can successfully learn from the experienced trader’s portfolio and gradually start to copy his/her trades to expand his trading activities.