Copy trading: follow traders automatically

What is copy trading?

Copy trading lets you follow another trader. When that trader opens a new trade, the same trade opens on your account automatically. It has the same asset, the same direction and the same expiration time. You decide the amount.

On Bitvyl, this feature is called Social Trading. It is useful if you are still learning Fixed Time Trading and want to see how other people trade. It is also useful if you do not have time to watch the charts all day. But copy trading does not remove risk. You are still trading, and you can still lose money.

For a full guide, read how copy trading works.

How to find a trader to copy

The Social Trading page shows a ranking of traders by profit. You can view the ranking for the last 24 hours, 7 days or 30 days. Only traders with at least 3 trades in the period appear. For each trader, you can see their number of trades and their win percentage.

A high place in the ranking can look attractive. Before you copy anyone, think about these questions:

• How many trades? A trader with 3 lucky trades is very different from a trader with 300 trades. A larger number of trades tells you more.
• Which period? A good 24-hour result can come from one lucky session. Compare the 24h, 7d and 30d views.
• What trade size do they use? A big profit can come from very large trades. Large trades can also produce big losses.
• Does their style fit you? Some traders open many short trades. Others trade less often. Choose a style you understand.

How to start copying, step by step

1. Open the Social Trading ranking.
2. Open a trader's profile and check their results.
3. Set a fixed amount per trade. This is the amount used for every copied trade, no matter how much the trader uses.
4. Choose demo or real.
5. Press Copy.

From now on, the trader's new trades open automatically on your account. You can pause or stop copying at any time. You can copy up to 20 traders at the same time.

Sometimes a copy cannot open. For example, your balance may be too low, or the trade may go beyond a limit. In this case, you receive a notification, so you know that the trade was not copied.

Start on demo first

We strongly suggest that you copy on the free demo account first. You have US$ 50,000 in virtual funds, so you can follow a trader for a week or two and see the real results without risking your own money.

A simple example

You copy a trader with a fixed amount of US$ 2 per trade. During one day, the trader opens 20 trades and wins 11 of them. Assume each trade has a 90% payout.

• 11 wins × US$ 1.80 profit = US$ 19.80
• 9 losses × US$ 2 = US$ 18.00
• Result for the day: US$ 1.80 profit

Now imagine the same trader wins 9 and loses 11. The result is 9 × US$ 1.80 = US$ 16.20, minus 11 × US$ 2 = US$ 22. That is a loss of US$ 5.80. A small change in the win rate can turn a profit into a loss. This is why you should watch a trader for many trades, not just a few. These numbers are only an illustration.

The honest risks of copy trading

Copy trading is a tool, not a promise. Please read these points carefully:

• Past results do not guarantee future results. A trader who did well last week can lose this week.
• You copy losses too. Every losing trade of the trader is also a losing trade for you.
• Many copied trades add up fast. If you copy several active traders, you may open many trades per hour. Keep your fixed amount small.
• Rankings change. A trader can move up or down quickly.
• You are responsible. The decision to copy, the amount and the moment to stop are your choices.

A good rule is to treat copy trading like your own trading. Risk only a small part of your balance on each trade. For example, with a US$ 100 balance, a fixed amount of US$ 1–2 per copied trade keeps your risk at 1–2%. Our guide on risk management and position sizing explains this in detail.

Learn while you copy

Copy trading works best when you also learn. Look at the trades you copy. Open the chart and ask why the trader chose Buy or Sell at that moment. Over time, you will understand more about price movement and expiration times. To learn the basics of the trade type itself, read binary options explained. When you are ready to fund a real account, see crypto deposits.