What's copy trading?
Overview
Target audience
Pre-requisites
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Connected to an exchange
Anny's marketplace, besides signal groups and strategies, offers a powerful feature known as Copy Trading, which allows you to replicate the trading activities of successful traders, known as Lead Traders. This innovative functionality enables one user, the Follower, to automatically copy all the trades executed by the Lead Trader to their own Anny's account.
By utilizing Copy Trading, you can gain insights from experienced traders, take advantage of proven strategies, and potentially boost your trading success. Remember, whenever the Lead Trader makes a trade, it is automatically replicated in the Follower's account, ensuring a seamless and efficient trading experience.
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Lead trader; author of success
The Lead Trader is a skilled and experienced trader who grants permission for their trades to be copied by other users. As a Lead Trader, you have the option to enable Copy Trading on your account by navigating to the "Dashboard" tab and selecting "Copy trading," where you can toggle the feature "on".Lead Traders have the flexibility to choose whether they offer this service for free or charge a performance fee based on successful trades or net monthly gains. Additionally, Lead Traders can engage in copy trading with other users, but their copied trades will not be replicated to their own followers. Only the trades that they personally execute will be available for copying.
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Followers
The Follower is the user who decides to follow a specific Lead Trader and replicate their trading actions. Each Follower can choose a different Lead Trader for each connected signal group, and they have the option to switch or disable copy trading for individual signals.By becoming a Follower, you will mirror all automation settings, including Auto Invest, Take Profit, Trailing Take Profit, and Auto Stop, as configured by the Lead Trader. However, the Follower cannot edit these settings while copy trading is active. To make changes, you must disable copy trading.
It's essential to note that the Follower has control over certain aspects, such as the exchange used, the investment allocation, and the entry method within Auto Invest.
Examples: if the lead trader doesn't enter a signal, the follower doesn't enter either; if the lead trader changes the automation settings, it will be changed to the follower too; if in the middle of the signal the lead trader makes a Take profit, it will be done for the follower as well.
Common issues
- I enabled Copy trading but my name does not appear on Anny's marketplace.
In order for it to appear on Anny's marketplace, once enabled, you must have created and entered your own positions and that they are archived.
Additional resources
- Click here to learn about the lead trader's dashboard.