How to Earn Money by Copy Trading on Binance

[00:02] you need a lot of skills and a lot of knowledge, but there are also some ways where you can earn money by leveraging the knowledge and skills of others. One such method is copy trading. Within copy trading, you will

[00:15] find many leading traders who have years of experience in trading and have been continuously making profits. All you have to do is follow them, and their as they are making profits,

[00:29] you too can make profits in the same way. If you want to make money from trading, this video will be very useful for you. Here, I will explain the complete process of how to copy the trading of these top

[00:41] traders so that you can continuously make profits. And what are the mistakes that you should avoid. Otherwise, you can also lose money in copy trading. So, the video till the end. Watch and if you have not subscribed to the channel then

[00:55] subscribe friend, you keep getting many such videos here, so I am going to tell you the process of copy trading on Binance, I hope all of you have a Binance account, those who do not have a Binance account, the

[01:09] link is in the description, go there and sign up, if you sign up through my link then you will get a discount of 20% in trading fees, so without wasting much time, let to the mobile screen and show you how to do copy trading, so here guys

[01:23] I have come, on the home page of Binance, first of all you have to enable your future trading or derivative trading, here you get the option of futures, when you come here, you have to do some agreement etc., tick on it and agree,

[01:35] inside copy trading also, will copy, so you have to enable this, first of all now you have to click on this peacock button and go to the trade section

[01:48] where you will get the option of copy trading, this copy trading one Click on the button. this copy trading one Click on the button. find profiles of many lead traders, whose past performance will also be displayed.

[02:01] In the "Portfolios" button, you can see that a trader is ranked number one, with a 30-day return on investment of 3,626, which is quite high. If you look at his 30-day PNL,

[02:15] he has generated 166,000. It's not that a single trader can be followed by many people. There's a limit of 400 people, of which 99 are already following him. Similarly, you'll find many lead traders here whose returns vary.

[02:30] You can see that this trader's 30-day return is 30-day return is 139, and his 30-day PNL is 9,000. Similarly, you can see that this trader has a loss of $7.46. So,

[02:44] we've applied a 30-day filter here. You can see that the maximum time frame is 9,000. Take the 90-day filter because anyone can make profits in the short term. In the long term, anyone can make profits in the short term. In the long term,

[02:58] only he will make you money. We clicked on the 90-day filter. can also apply the filter of return on investment or PnL. For example, the trader at number two, his 90-day return on investment is

[03:11] 963, which is very high. You can click on it and know more details about it. Like when we clicked on it, here in the last 90 days, he has traded 68 days and there are a total of 1813 people following his trading. Currently, 400 people are

[03:26] following him, which is his full seat count. People copy trading here have seat count. People copy trading here have Talking about performance, here are all the performance charts of PnL. If we come down,

[03:39] you can see his open positions. purchased Dodge USDT, making a profit of $100. He has another trade in OI USDT, making a profit of $1,000. He is

[03:54] using 20x leverage, which is quite high leverage. I think he clicking on "Position History," you can see his entire trade history. See how much profit and loss he made in each trade, history. See how much profit and loss he made in each trade,

[04:08] Here, you can see a loss of $500, a loss of $50, a profit of $800, a loss of $11,000, a loss of $1,000. From here, you can see his entire past performance. Let's see another trader who has performed well.

[04:27] percentage ROI. You should look at his profit-making consistency. His losses should be small, his profits should be large, and the place 100 trades, then at least 90 to 85 of his trades should be profitable. If 10 to 15

[04:43] trades are in loss, then there is no big problem in that. Here you can see that there are many traders whose seats are already full, whom we cannot follow. You can add them to favorites from here so that

[04:56] whenever a seat becomes vacant after them, you can join them later. In this way, you have to take some time and find a good trader. Now let's move on to how to copy his trading. Suppose I want to follow this trader whose

[05:09] return on investment in the last 90 days is $41. He has made a profit of $57 in the last 90 days. His total seats currently stand at 300, of which 218 are People are following him. If

[05:21] you can see that he has a profit of $150 and a profit of $500. He has made almost all the profits. So far, I have n't seen any losses. I see a loss of $100, which is a significant loss, but he has also made good profits. So, let's say

[05:35] we are going to copy this trader's trading. To copy, all you have to do is click on the copy button. Now, you have to enter your amount here. Now, you have to enter your amount here.

[05:48] money do you want to invest? Your trader may be opening a position with $100 or $100,000, but you may not have that much money. So, how do you Here, you have two options: fixed amount and fixed ratio.

[06:03] Fixed amount means that you will decide that you will put this much money in each order. No matter how much money your trader is investing in a single order, you can place your orders. You can set a limit here to prevent me from placing more than $10 in a single order.

[06:16] You can set the cost here. Suppose I enter $10 here. What will happen now? Whenever my trader opens a position, my position will also open at the same price, but my order size will be 10 USDT.

[06:29] Now, you can enter the amount you want to deposit for this trade in the copy amount here. You have $1,000 in your spot wallet, but you you can enter that amount here so that the maximum trade will be for

[06:43] that amount only. Now, you also have a stop-loss option here. You can set a stop-loss as per your wish. It's possible that your lead trader trades without a stop- loss, but I would recommend that you set a stop-loss here.

[06:57] Now, you can change some things in the advanced settings, such as margin mode. If you want the margin mode to be used as the lead trader is using, then you can use the same margin mode. So you or you can also set the fixed mode here.

[07:13] Your trade will be copied. Whenever your trader takes a trade, you will automatically open the same position. Now, the second option here is the fixed ratio. You can also specify a fixed ratio. Suppose your lead trader has

[07:27] $11,000 and is opening a position with $100, meaning he is using 10% of his funds in a single trade. You can enter that amount here.

[07:40] Suppose he had $1,000 in his wallet and used $100. If he used 10% of his funds, you will use 10% of your funds. If you have $100 in your wallet, only 1% of your funds will be used, meaning your position will open with $10. So, whatever is the maximum amount you want to invest for trading.

[07:55] So, you've followed a lead trader and copied their trading here. Now, what happens after copying is that whenever that trader opens a position, your copy option will display all ongoing positions.

[08:08] You'll be able to monitor any profits and losses here. You can also close positions as per your convenience; it's close them. If you feel you should exit here, you can exit yourself. So, this was the

[08:20] exit yourself. So, this was the how you can earn money by copying the strategies of experienced traders or their same trading patterns without any special knowledge or skills.

[08:35] For now, I would recommend that you do n't rely on them; you learn on your own. You can also invest a small amount of your own, say 10 to 20, to see what kind of returns you get. Currently, all the traders here have performed

[08:48] quite well. Yes, if you follow them then definitely you can earn money sitting at home. In the beginning you should start with a minimum amount only, it is not that start with a very small amount and see what returns you get, after that you

[09:02] can also increase that amount, I hope you liked this video guys, if you new to the channel then subscribe, we will meet guys in the next video, till then goodbye in the next video, till then goodbye and take