Copy trading denotes the automated replication of successful traders’ transactions and strategies by other users. This system enables investors, especially those new to cryptocurrency investment or lacking time to continually monitor the markets, to benefit from the expertise of more successful or experienced investors.&nbsp; 
To engage in copy trading, users select one or more successful traders to follow based on performance, trading strategies, risk profiles, and other relevant factors. This information is generally available through rankings, past performance data, and user profiles on social trading platforms. Users allocate a portion of their capital for this process, which could be a fixed amount or a percentage of the user’s total portfolio.&nbsp; 
The social investment platform applies the chosen investor’s transactions in real-time in the user’s account by automatically copying them. This includes the opening or closing of trades, setting stop-loss or take-profit orders, and other trading actions. These processes are fully automated.&nbsp; 
Users can monitor the performance of their copy trading portfolio and make necessary adjustments. This could include halting the copying process, increasing or decreasing the allocated capital, or adding new successful traders to follow.&nbsp; 
<h2 style="text-align: justify" id="span-data-contrast-auto-copy-trade-example-span">Copy Trade Example</h2> 
Suppose you join a social trading platform and decide to allocate $1000 for copy trading. After examining the profiles and performances of various investors on the platform, let’s say you choose to follow Trader A and agree to copy Trader A’s transactions.&nbsp; 
On the social trading platform, a pool forms for Trader A’s transactions with your $1000 balance and the participation of other users. Trader A typically uses these funds for short-term trading.&nbsp; 
The profit obtained from the transactions is automatically transferred to the accounts of the participants.&nbsp; 
<h2 style="text-align: justify" id="span-data-contrast-auto-social-trading-platforms-span">Social Trading Platforms</h2> 
TraderWagon is a social trading platform that fills the gap between experienced and novice investors. If you’re new to crypto trading or don’t have the time to monitor the markets, TraderWagon allows you to explore, follow, and copy transactions made by the best investors worldwide. If you join TraderWagon via <a href="https://www.traderwagon.com/en/register?ref=zoh6lha" target="_blank" rel="noopener nofollow noreferrer" data-wpel-link="external">this link</a>, you can benefit from a lifetime discount.&nbsp; 
TraderWagon also allows you to perform <a href="https://en.coin-turk.com/what-is-social-trading-3/" data-wpel-link="internal">Social Trading</a>. The idea of Social Trading is simple: it automatically copies real-time crypto transactions of experienced and profitable investors. As can be seen in the screenshot below, the return on investment (ROI) and profit and loss status (PNL) can be observed for the last 30 days. For instance, below you can see that user Tsin9 has made a profit of 354% from trading transactions in the last 30 days. TraderWagon, supported by <a href="https://en.coin-turk.com/binance-us-faces-hardship-amid-sec-lawsuit-major-shift-to-cryptocurrency-only-exchange-looms/" data-wpel-link="internal">Binance</a>, shows investors’ trading results based on evidence through transaction data with Binance support.&nbsp; 
<img decoding="async" loading="lazy" class="aligncenter wp-image-86500 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/trader.png" alt="" width="1394" height="436" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/trader.png 1394w, https://en.coin-turk.com/wp-content/uploads/2023/06/trader-300x94.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/06/trader-768x240.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/trader-1200x375.png 1200w" sizes="(max-width: 1394px) 100vw, 1394px"> 
There are two types of users on <a href="https://www.traderwagon.com/en/register?ref=zoh6lha" target="_blank" rel="noopener nofollow noreferrer" data-wpel-link="external">TraderWagon:</a> Leader Investors and Copy Investors. Leader Investors manage portfolios and allow other investors to follow and copy their portfolio. Copy Investors are investors who follow and copy the transactions of Leader Investors. It’s possible to earn profit on TraderWagon by copying the trading strategies of successful investors.&nbsp; 
The post <a rel="nofollow" href="https://en.coin-turk.com/what-is-copy-trade/" data-wpel-link="internal">What is Copy Trade?</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

What is Copy Trade?

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