Spot Copy Trading Guide for Elite Traders
What is Spot Copy Trading?
Spot copy trading is a unique feature offered by Bitget that allows elite traders to share their trading strategies with a larger audience. As an elite trader, once you are listed, copiers can follow and automatically replicate your trades in real time. You serve as the signal provider, and the Bitget system manages the execution of trades for your copiers.
Benefits of Spot Copy Trading for Elite Traders
- Earn Passive Income: Elite traders gain from profit-sharing mechanisms, allowing a steady stream of income based on their performance.
- Increase Visibility: As a signal provider, you enhance your reputation within the Bitget community.
- Long-Term Income Streams: Consistently profitable strategies can turn into substantial income streams over time.
Asset Management in Spot Copy Trading
To maintain a clear separation between the capital of traders and followers:
- Each copier has a dedicated copy trading account.
- Copy trading accounts are distinctly separate from the main accounts.
- Minimum copy amount starts at 50 USDT.
Asset Handling Mechanics
- When you initiate a trade, the system reflects that action in each follower’s account.
- Only transactions involving supported spot pairs are considered for copying.
- All trades must meet the minimum order value stipulated for each pair.
- Profits from these copies adhere to the High Water Mark model, assuring fair distribution.
Important Note: If a trade’s value is below the minimum threshold or goes beyond slippage limits, it may not be copied.
Steps to Become an Elite Trader on Bitget
To achieve elite trader status:
- Open the Bitget App and navigate to Trade > Tools > Copy Trading.
- Click on Apply as Elite Trader.
- Provide necessary information, including your trading history and prior performance details.
Once your application is approved:
- Your profile will be visible in the elite trader list.
- Copiers will be enabled to start replicating your trades.
- You can access the Elite Trader Center for strategic management of your activities.
Conducting Spot Copy Trading as an Elite Trader
Once your elite status is confirmed, you have access to a dedicated Spot Copy Trading Zone where only trades placed will be mirrored by your followers.
Steps to Conduct Spot Copy Trading
Step 1: Access Your Trading Zone
- Open the Bitget App and select Trade in the navigation menu.
- Transition to the Copy Trading tab to initiate your trading activities.
Step 2: Place Trades
- Use the typical trading interface similar to what you employ in your personal spot account.
- Both market orders and limit orders are available for use.
Step 3: Manage and Monitor
- All your orders executed within the Spot Copy Trading Zone will automatically reflect in your copiers’ accounts.
- Personal trades outside this zone will not be affected or copied.
Monitoring Your Assets and Performance
Inside the Held Assets panel, you can track real-time position data, including:
- Unrealized Profit and Loss (PnL): This shows the potential profit or loss based on the market price relative to your breakeven price.
- Realized PnL: This indicates the cumulative profit or loss from closed trades.
- Breakeven Price and Equity: Definitions of these terms also clarify your financial standing in the market.
Performance Metrics in the Elite Trader Center
Within the Elite Trader Center, you will have access to:
- Follower Overview: View total number of copiers, assets copied, and retention rates.
- Performance Dashboard: An insight into total watcher profit, estimated net profit, and invested capital.
- Profit Sharing Reports: Details on total PnL and calculations on profit share visibility for up to 180 days.
- Trading Data: Access real-time order history, revenue rankings, and weekly income analytics.
Settlement Cycle and Conditions
Regular Settlement Cycle:
- Timing: Settlements occur every Monday at 8:00 AM (UTC+8).
- Eligibility: Your copy trading account must have sold all tokens for the settlement to apply.
- Unsettled tokens will postpone your account’s eligibility for that cycle but will resume in the next cycle.
Manual Settlement Triggers
Profit-sharing can also be manually settled under conditions such as:
- If you decide to stop copying a trader.
- If you are removed from a trader’s portfolio.
- If a trader closes their entire copy project.
Important Note: New trades triggered by an elite trader before settling all previous activities may lead to failures for some copiers, but your final payouts will remain consistent.
Common Reasons for Copy Trading Failures
Several factors can lead to failed copy trades:
- Copy Limits Exceeded: Traders have limits on the maximum value that can be copied for a token.
- Frequent Trading Restrictions: There’s a cap of 1 opening trade every 3 seconds to protect copiers.
- Partially Filled Orders: Only completely filled orders trigger copy trades.
- Insufficient Balances: Copiers need to have a balance that meets the minimum size to proceed.
- Slippage Exceedance: Default slippage limits apply (0.3% for BTC/ETH, 0.5% for others);
If exceeded, trade copying will not proceed.
Frequently Asked Questions (FAQs)
- How can I become an elite trader on Bitget? Complete KYC verification and submit your application via the Copy Trading section.
- Can I trade in my personal account while being an elite trader? Yes. Your personal account is separate, only the Spot Copy Trading Zone is copied.
- How are profits shared? They follow the High Water Mark model, ensuring you only profit from new generational gains.
- When is profit sharing settled? Every Monday at 8:00 AM (UTC+8) or earlier if manually triggered.
- What data can I access in the Elite Trader Center? Information on total copier profits, PnL, profit share amounts, and performance metrics are available.
- Can I close my elite trader project anytime? Yes, you can close your project if no active positions remain.
- Are there trading limits to consider? Yes, there are frequency caps and slippage thresholds along with a token copy cap.
- Can I remove copiers? Yes, copiers with balances below 50 USDT can be removed.
- What happens to residual assets? They will be returned to your account upon project termination.
Conclusion
Bitget’s Spot Copy Trading feature empowers elite traders to monetize their skills while guiding followers in their trading journeys. By understanding the mechanics, managing assets diligently, and accommodating performance assessment, elite traders can capitalize on emerging opportunities while fostering community engagement.