Bitcoin Forum

Is anyone familiar with bingx copytrading?

I started following a trader (I think the one with most followers in bingx)

I added 11 dollars to follow his trades

And the margin of the first position was only 0.11

As a copytrader Can I increase the margin of every position of this trader? or the margin is decided by the trader?

It depends on the type of copy trading. There are about 3 types of copy trading offered by bingx
1. Copy by position which does not allow copiers to perform autonomous trading
2. Copy by a fixed margin  allows copiers to perform autonomous trading.
3. Copy by spot grid which allows copiers to cancel the spot grid trading strategy if they want

I think it's better to understand how copytrading works in that platform and this article covers some details - BingX Tutorial | How to Get Started With Copy Trading  (https://support.bingx.com/hc/en-001/articles/9555363447577-BingX-Tutorial-How-to-Get-Started-With-Copy-Trading)

I think it is a stupid idea to copy-trade others, most of these guys promoting copy-trading are doing it to farm refers, and make money off you, I also notice you have a small bankroll, why do you trade at all, play narratives, look for the next big narrative, analysis the tokens in the category and pick 2 or more tokens wait and let it play out, be disciplined and take profit, don't be greedy. Take your profit and compound it into another trade, this is better than copy trading because the trader you are copying will continue to trade and generate trading fee commission from you, so he is the major winner

I don't do or use that method of copy trading dude, it's different because I trade myself so I can learn the natural way here in crypto.

Because for me, it's a lazy job, to be honest. No offense to what I said. I am just stating the fact. With such a concept of copy trading, you will not learn to do proper trading here in the crypto space.

As long as it's a copy trading activity, I don't use it, because it's not profitable for me either. Because if that is profitable, no one will trade every day because copy trading is effective. What if what you copy is wrong, you will not have any income right away.

      It seems like there is no difference in school when you copy from your classmate your teacher will scold you, here it seems that copying has become legal because you can make money, that's what copy trading wants to convey. Organic or natural trading is different from crypto