What do I need to do on Bitmex?
You need to have a registered account on Bitmex to use Tradelize mirroring. 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 Mirroring.
You need to create API-keys from your exchange account and add them to your Tradelize profile. You need to to give permissions to create or execute orders for your API-keys. Tradelize's copytrading system can't send signals, trades, margin, and risk limits without this enabled.
Are there any fees that I have to pay as a trader who offers copy trading?
As of now, there are no fees associated with the mirroring service. A trader who offers cryptotrading services receives all the benefits of the Tradelize system for free.
How can I offer copy trading services?
In order to create an offer, you need to go into your account profile on the Tradelize portal. Nearby the "Mirroring" button, press "+" and then go through the remaining steps.
How can I make money using Tradelize's copy trading service?
When creating an offer for copy trading, you can choose the monthly fees (the cost to your Mirroring subscribers) that users of the portal will pay to use your services.
What is algorithmic auto-copying?
In a "Copy Now" subscription, there will be a full copying of all outstanding orders and open positions that the trader you're subscribed to has, all in proportion to your balance. The leverage risk limit for your outstanding balances will also be set at the same level of the trader you are following. During this process, the positions you establish may be significantly different from the prices of those positions when the trader originally entered the trade. All new open positions after full copying will be opened with the traders at the same price, and with 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 an 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).
With this algorithm, users will copy an entire portfolio regardless of the asset prices they enter the market at.
Each subscriber is able to choose the copytrading algorithm they want.
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.
With this algorithm, the user will copy the entry and liquidation prices identical to those of the trader.
What information can I see about users who copy me?
You can track every open order and position of your subscribers in real time in your account.
What happens on my exchange account once I offer copytrading?
The Tradelize system will take a snapshot of margin and overall balances, open orders, and open positions.
What operations does the service track and copy?
Tradelize's Mirroring (Copy trading) System Will:
-Track your current margin and overall balance
-Track deposits and withdrawals on the connected account
-Copy all types of orders with all the order parameters
-Copy leverage, type of margin, risk limit, and all changes to these options
-Track and copy the trade mode (Hedge or OneWay)
Are there any operations that the Tradelize auto-copying system will not copy?
If you change your margin collateral manually, then the system will not copy this action for your traders. Instead, any future disparities from this position in your subscribers' accounts will be automatically balanced out by the system.
If your balance is much larger than that of a subscriber, then occasionally the system will not be able to proportionally copy orders and positions to the subscriber's account. If this happens, the position may not be copied to the subscriber's account. 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.
Likewise, if your balance is much smaller than a subscriber's, as may happen with a high degree of leverage, the exchange may carry out an increase in a subscriber's position which is larger than the set risk limit. You as a trader with a low balance and maximal leverage may take a position that is not too high for the exchange's volume. However, the subscriber's account might not be able to execute the order completely, or may not execute it at all.
Can I deposit/withdraw funds from my exchange account while I'm subscribed to a trader?
Beginning the moment someone subscribes, the deposit and withdrawal of funds on an exchange account will change the sizes of positions for that subscriber. The size of active orders will not be changed instantly. To correct for this, the service will use the automatic position rebalancing system in such cases. In the end, the change in position will be correctly proportional to the trader's changes and the account will be properly balanced.
Can I change or update my API keys while I have mirroring running?
Once you offer Tradelize Mirroring, you cannot delete your API keys. If you delete your keys in the Tradelize system or on the exchange, the system will automatically record any total balance changes on subscribers' accounts (profit and loss from the moment of subscription). If the API keys are not replaced right away, then the result of this profit and loss will be considered final for the subscriber.
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.
What happens if I delete my 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 mirroring subscribers to that trader.
Can I unsubscribe a user who subscribed to mirroring that I don't want?
You do not have the ability to unsubscribe a subscriber. By offering Mirroring, you must accept any user as a subscriber, and likewise allow any user to unsubscribe.
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.