Key words: Followers, Copy Trading Settings, How to Edit Copy Orders
Ⅰ. Copy Trading Types
There are 2 types of copy trading on Bingbon.
- Copy Trade by Amount
Users need to set the " Max. Margin of Single Trade". For example, when the user sets the "Max. Margin of Single Trade" as 10 USDT, she/ he will follow the order with a maximum margin limit of 10 USDT regardless of the margin amount of the trader's order. Considering factors such as market liquidity,and copy trading limits, the system will place the order at the optimal value (closest to the max. margin). For further details, please refer to the actual order.
- Copy Trade by Proportion
Users need to set the “ Unit Standard”. For example, if the user sets the “ Unit Standard” as 10 USDT/Unit, when a trader places an order of 1 unit, you follow the order with 10 USDT margin; when a trader places an order of 2 units, you follow the order with 20 USDT margin. The above is the ideal case, and the actual amount of copy orders is affected by market liquidity.
Note: The amount of the trader's Unit Standard is set by the trader herself/himself. For example, the trader can set 80 USDT/Unit or 100 USDT/Unit, which does not affect followers' copy trading.
Ⅱ. Risk Management Tools
There are 3 risk management tools on Bingbon Copy Trading system, which can help users to proactively control their copy order risk.
- Max. Daily Copy Trade Margin
For example, if you set the " Max. Daily Copy Trade Margin" as 50 USDT, but the margin amount of the first copy order is 20 USDT, or the margin amount of the second copy order is 30 USDT( 20+30=50 USDT), you cannot follow the trader to open a third order.
- Max. Opened Position Margin
For example, if you set the " Open Position Amount" as 50 USDT, the margin amount of the first copy order is 50 USDT and the position has not been closed yet, you cannot follow the trader to open a second order since the margin amount of your holding positions has reached the Max. Opened Position Margin you set- 50USDT.
- Trade Stop Loss Ratio
For example, by setting 70% for “ Trade Stop Loss Ratio”, each copy trade will be closed automatically when it loses 70% of the margin value.
Please note: Due to the rapid changes in market price and depth, when stop loss orders are triggered, the system cannot guarantee that the position will be closed at the set SL ratio. The SL ratio 70% is only the set trigger ratio, not the final P/L ratio.
III. Prohibited Items for Followers
The Bingbon Copy Trading system prohibits followers from plagiarizing the signals of traders' orders for manual orders of contract trading. ( In the event of plagiarism to manual ordering, users will bear the relevant risks.) Followers who are detected by the system for plagiarism, will be forbidden from using the Copy Trading feature for a period of 3 to 30 days, depending on the severity of the cases.
Special Note: Accounts detected by the risk control system for having the same equipment, IP address, or the same/similar trading behavior, associated asset transfer records（such as Internal Transfer) will be regarded as belonging to the same follower. The risk control team will enforce relevant restrictions on the accounts that have been involved accordingly.