Hey folks,
hope you are doing well in bear markets. You might think there is another guy with another copy-trading story. But I promise you, this story will be different from other copy-trading articles. Hope it will help you survive the bear market. So let's start!
What is copy trading?
Copy trading enables individuals in the financial markets to automatically copy positions opened and managed by other selected individuals.
Source: https://tixee.com/what-is-copy-trading/
You might also hear the term social trading or mirror trading. Those are the products of the same niche. Unlike mirror trading, your position doesn’t need to have the same amount of trade. In copy trading, you could place an order on a ratio to the initial order.
What is BingX?
Founded in 2018, BingX is a global digital asset, spot, and derivatives trading platform that provides a user-centric and open ecosystem with intuitive social trading features.
Created to enrich the entire cryptocurrency industry, BingX is a safe, reliable, and user-friendly venue for users to trade their favorite assets.
What makes BingX unique?
I have tried other copy trading platforms where the minimum amount per trade was very high, so you need to risk a higher amount of money per trade. But in BingX you could start as little as $2.
On one platform, my trades were making money, but my principal was decreasing. To my surprise, I found out that, the trade issuer was charging me a fixed amount of fee per trade. On the contrary, on BingX you will always be charged a percentage of 0.045% ( for Closing Position Only)
Other benefits
- For new users only:
- Deposit & Trading Gifts: for everyone up to $125
Pro-tip: How to Copy Successful Traders?
Before you start copying any investors, first thing is to know that, you are giving full power of your money to the investor. BingX rates every trader on a scale of 1–6. Conservative traders of a rating 1–2. So if you are happy with low profit and low risk, first try copying only the conservative traders.
Don’t forget to also have a look also on their trade history. Which will help you know the trader's trading behavior and trading gains/loss.
If you don’t want to risk your money at all but want to know how the trading is doing, you start copying with provided VST.
If you appreciate my work and want to register on BingX, please do this with my referral link so that it will motivate me to write such an article. For you, it will not cost you anything but will help you get an extra 20% off on your trading fees.
https://bingx.com/partner/TheCryptoGambit
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