What do I need to do on Bitmex?
You need to have a registered account on Bitmex to use Tradelize copy trading. If you don't have one, please use this link
You will need to deposit into your registered account on Bitmex before you begin Tradelize copy trading. All of the funds on your registered Bitmex account will be used for copy trading.
You will need to create API-keys on your exchange account and add them to your Tradelize profile. For properly-connected API-keys, placing orders must be enabled. Otherwise, you will not be able to copy trades from other traders.
How do I choose who to copy?
You can use a trader's transparent trade statistics and payment terms in order to pick them. You can see this data in each trader's profile.
Can I subscribe to several traders at once?
At present, you can only subscribe to one trader per exchange account (one pair of API keys).
Are there any other extra expenses within the Tradleize system that I need for copytrading?
In order to use a paid monthly subscription, you need to fill our Tradelize wallet with a sum equal to or greater than one month of service. A monthly subscription fee is shown in a trader's profile.
Fees vary from trader to trader. You cannot subscribe to a trader if you do not have enough funds in your personal Tradelize wallet.
When do I pay for copy trading services?
After subscribing to Tradlieze copy trading, the subscription cost will be set aside immediately. Subscriptions always apply until the end of the current month.
For example, if you subscribe to copying in the middle of the calendar month, then the full monthly fee will be set aside, but only the remaining number of days in the month will actually be accounted for when payment occurs.
How can I limit my risk and avoid loses?
In order to protect unforeseeable loss in your account, you can regulate risk-parameters for copy trading. Auto-repeating ends when you balance drops below the level that you decide. When a risk limit is reached, copying will be shut off: all positions will be closed and all orders will be canceled. When a risk limit is triggered, you will not necessarily be unsubscribed from a trader. In order to continue, you will need to enable copy trading again in your profile.
For example: if you have $1000 in your balance when you start copy trading, and you set a limit to stop if your balance reached exactly 30%, then the system will automatically stop copying when your balance is 30%, which in this case is $300.
Once the risk limit is triggered you will not be unsubscribed from the trader you following. To continue, go to Settings-Purchases and set a new risk limit and continue to copy trades. If the trader increases the price for the Copy Trading subscription while your subscription is being stopped by the risk limit, you will need to change the risk limit and go through the rest of the subscription steps to see the new price set by the trader.
What is algorithm of copy trading?
In order to properly subscribe to copy trading, you need to choose which automatic copying algorithm you want. The process of balancing your positions (by way of orders) will be based on the algorithm that you choose.
In a "Copy Now" subscription, there will be a full copying of all outstanding orders and open positions that the trader has, all in proportion to the subscriber's balance. Leverage and margin will will be calculated as analogs to the trader's exposure. During this process, the positions the subscriber establishes may be significantly different from the prices the trader had when they originally entered the trade. All new open positions after the first copy is complete will be opened at the same price as the trader gets, and besides some small market disruptions, should be as close to the trader's as possible.
For example, if a trader has a balance of 10 BTC and has 10,000 open contracts of XBTUSD, with a leverage of 1, which is 10% of his balance, then if a subscriber has 1 BTC, then they will proportionately make a market order of 1000 contracts of XBTUSD, with leverage of 1, since his total balance (1 BTC) is 10 times smaller than the trader's balance (10 BTC).
A "Copy New" subscription will only copy new trades that a trader executes after the subscription begins. Copying positions that were already open when the trader subscribed will occur only after they are fully closed (the number of contracts of each position should be exactly 0).
For example, if a trader has a limit order to buy XBTUSD, but at the time of subscription he does not have any open positions for this contract, then the system will automatically complete the trade for the user (subscriber) if the trader's order is executed. However, if the trader has a buy/sell order for XBTUSD contracts and he already had open positions at the time of subscription, then the order will not be copied to the subscriber, and a BTCUSDT position will be opened only after currently open positions are closed.
What happens to my exchange account once I subscribe?
After connecting your account to a trader to automatically copy their trades:
-All your active order will be cancelled
-All of our positions will be closed
-Leverage, Margin Trading and Risk Limiting will be changed to match those of the trader you are subscribed to
A snapshot of your balances and funds will be taken to help calculate your income and balance any autocopying.
During copy trading, a traders order will be automatically copied. If a trader sends/cancels/changes an order, then that change will also occur in your account. Also, leverage, margin trading (cross and isolated) and Trade Mode (Hedge or OneWay) will be copied automatically. If some disparity occurs, then your positions may be corrected automatically by the system which equalizes your balance with the trader every 10 seconds.
All of your positions are automatically compared with the trader's positions. During the subscription, balances are revised so that they match proportionally. For example, if you have a balance 10 times lower than the trader, then when there is a difference in positions of more than ~1%, your account is automatically corrected (that is, a buy or sell) to maintain proportional accuracy. If your balance is 10 times less than the trader's balance, then the rebalance correction is triggered by a ~0.5% slip. Also, if a trader's order is not filled, but your order is filled, then the system will automatically close a portion of your positions such that the proportion of open positions will be maintained. Likewise, if an order is placed by the trader and is filled, but the exchange won't let you fill it because of an overload, then the investor's order will be placed again until it is executed or until the position equals a market order, if the price of the asset has slipped from the price it was for the trader.
All parameters that the trader uses when they open a position will be copied by the investor: risk limit, leverage, price, the side of the order or the type of order. The size of your position will be calculated proportionally in regards to your full balance. For example, if the trader has 10 BTC, and you have 1 BTC, and the trader placed an order of 40,000 XBTUSD contracts, then the copy of the order on your side will be 10% the volume of the trader's order (which in this case is 4,000 contracts). The volume of the trader's order is calculated from his account's full balance, but not only from the available balance. The same applies to the volume of your order when the computer copies it. For example, if a trader has 10 BTC in his wallet, but 8 of them are already set aside in open orders/positions and then a new user subscribes with a 1 BTC balance, then if the trader places an order for 20,000 XBTUSD contracts, the order on the user's account would be 2,000 XBTUSD contracts.
Are there any operations that the Tradelize copy trading system cannot perform?
If a trader manual changes margin, then that action will not be automatically imitated by the system. However, the system will automatically even out any future discrepancy with the Automatic Position Leveling System.
If your balance is much smaller than the balance of the trader, then in certain instances the system cannot proportionally copy an order or a position for certain contracts. If this happens, you can simply not copy the position. There are also situations where a trader trades contracts with large margin collateral, but small leverage. Positions that can significantly violate the proportionality of the users funds will not be copied. For example, if a trader has 0.02 BTC in their account, then opens a 1 contract positions, with 1 margin, and the margin collateral is 0.02 BTC, then you, with your balance of 0.01 BTC, cannot open such a position because the minimum amount of collateral for the contract would freeze up your entire balance, and thus violate the principles of balancing. Sometimes, a small balance will not let you take a proportional positions, since it will not meet an exchange's minimum.
Also, if your exchange balance is much larger than the trader's, then an exchange may miss an order when you are using high amounts of leverage, as this may break a given risk limit (see the exchange's rules about maximum positions when using certain degrees of leverage). In these cases a trader has a relatively small balance and is using maximum leverage and takes a position which does not break the exchange's limits, but on your account this operation cannot be fully filled, or cannot be executed at all. (See Binance's margin trading rules).
Can I deposit/withdraw funds from my exchange account while I'm subscribed to a trader?
From the moment of subscription, topping up or withdrawing funds to or from an exchange account will influence the balancing of positions. The size of active order will not be changed right away. In order to correct these positions to the right proportions, the automatic position balancing system will create orders. The size of positions will grow or shrink portionally so that the investor's positions correlate properly to the trader's.
Can I change or update my API keys while I am subscribed to copy trading?
After subscribing to Tradelize copy trading, it is not ideal to delete the API keys you have already added. If you delete keys in Tradelize or on the exchange, the system will automatically record changes to your balances (the profit/loss incurred from the moment of subscription). If keys are not added back, then that will be considered the final result of your trades at the moment of your subscription's expiration.
After deleting API keys, payment for your Tradelize Copy Trading subscription will be stopped. You can enable copy trading after adding valid API keys and Reactivate your subscription on your Tradelize account (go to Settings-Purchases). Warning! Removing API keys may prevent the Tradelize auto-copy system from closing all current positions and cancelling all orders. In this case, you will still have open positions and orders on your trading account!
Can I perform trades or send orders on an account that is being used for copy trading?
The automatic position rebalancing system will automatically close all open positions that are not related to the copy trading process. If you place an order manually, then you will change the available marginal balance and thus violate the rules of the proportional balancing system. Once the order is canceled or filled, the system will automatically rebalance your positions in relation to the new marginal balance. We recommend against creating independent trades, changing leverage, or changing margin in any way manually on any account you are using for copy trading.
What happens when my paid subscription period comes to an end?
The first of each calendar month at 00:00 the copy trading system will automatically compare your beginning balance with the current one in order to formulate your profitability over the last month of your subscription
If you have a large enough balance in your account, then the fees for copy trading will be automatically debited for the next calendar month.
If you have insufficient funds in your wallet, payment must be made within one day (one credit day). If payment is not received, the system will automatically block the possibility to use the Copy Trading service until the full payment is made. In such cases, the subscription card will require further Reactivation.
Your subscription will be stopped if you do not pay the subscription cost within the one-day credit period. You need to refill your Tradelize wallet with the required amount to continue copy trading. Then Reactivate your subscription on your Tradelize account ( go to Settings-Purchases).
What happens if my subscription ends early because risk parameters are reached?
If a risk parameter (which you set when you subscribed) is reached, then the system will automatically end order copying as well as copying any of the trader's positions. All orders will be canceled and all open positions will be closed.
Payment for copy trading subscriptions will be debited by the end of the period (the ender of the calendar month, usually), whether or not copying occurred for this entire period.
You can re-subscribe to a trader after the risk parameters have stopped copy trading by manually changing it in your account. When the subscription is reestablished, you will have to set your risk parameters again ( go to Settings- Purchases) . The remainder of the parameters from your early copy trading will be preserved.
What happens if I delete my API keys?
If an API key is deleted (or the API key is not valid for other reasons), whether it is part of the subscription service, on Tradelize, or the exchange account's settings, then the system will automatically do a snapshot of the account's balances. Overall profit or loss will be calculated from the time the subscription was established. Fees for the subscription service will be paid regardless of whether or not an API key was added or deleted, or even if it was not ever entered, through to the end of the calendar month.
Once the API keys are removed the Copy Trading subscription will be stopped. To enable copy trading, you need to add valid API keys. Then go to Settings-Purchases to Reactivate your Copy Trading subscription. Warning: Removing API keys may prevent the Tradelize copy trading system from closing all current positions and canceling all orders. In this case, you might still have open positions and orders in your trading account!
To enable copy trading, you need to add valid API keys. Then go to Settings-Purchases to Reactivate your Copy Trading subscription.
Warning: Removing API keys may prevent the Tradelize copy trading system from closing all current positions and canceling all orders.
What happens to my subscription if the trader deletes their API keys?
If a trader has open positions or orders, then at the time of the deletion/loss/change of the API key all orders will be canceled and all positions will be closed for copy trading subscribers to that trader.
It is possible to change API keys without subsequent difficulties if all orders and all positions are canceled and closed before the API keys are deleted.
If the trader you are copying deletes the API keys (or API key is not valid for other reasons), your subscription will be stopped. No subscription fee will be charged until your subscription is Reactivated. You can Reactivate subscription in Settings-Purchases.
What happens if I unsubscribe from a trader?
You can cancel your copytrading subscription at any time. You will pay the trader for the subscription for all the days you were subscribed. If you unsubscribe, then resubscribe to the same trader within a single paid period, then you will not be charged twice. You can use the trader's subscription service to the end of the paid period (usually the month).
Futures trading carries a substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movement. All trading strategies are used at your discretion and your own risk. Tradelize will not be liable to you for any loss that might arise from your use of Futures.