Cryptocurrency

June 11, 2020

Updated:

November 27, 2024

Cryptocurrency Copy Trading Guide | How Copy Trading Strategies Work on BitMex

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Copy Trading is a method of financial investment that consists of accessing setups created by other traders (preferably professionals) and applying them to our own trades, thus ensuring a greater probability of success. This strategy is more likely to be taken by novice traders who cannot afford to lose their funds while learning to analyze the market, thus relying on expert conclusions.

Copy trading allows investors to automatically replicate all trades executed by another trader, in order to replicate their performance on their own personal account.

With a copy trading service, the investor does not directly place his funds in the hands of the fund manager, that is, the other trader (as is the case with common investment methods). In this case, the investor simply opens a personal trading account, of which he retains ownership, and then, through the copy-trading platform, connects his account with that of the chosen trader.

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BitMEX Copy trading with Altsignals

Altsignals is recognized as one of the first BitMEX signal groups for Telegram and has been supporting their members with huge profit rates, so many users have decided to start copy trading with these signals to ensure their trades.

The Altsignals service provides multiple signals for Bitcoin derivatives on BitMEX, which carry out more than 80% of accuracy in target achievements. Many skilled members use their signals to complete a market analysis and place their orders, although not affiliates have the same trading experience. In this case, users can manually copy Altsignals trades or sign up for a Telegram signals bot that can automatically set this orders.

How to copy trade BitMEX signals?

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  • Manual copy trading: BitMEX copy trading with Altsignals can be done by placing orders for yourself using the complete setup in the Telegram group (Target price, take profit, stop loss and leverage). The trade will follow its course and members will be updated with price movements.
  • Automatic copy trading: There are multiple crypto signal bots that are programmed to set and place the orders by themselves. This can be very convenient considering many trades users usually miss, as the bot will automatically recognize the signal and trade in your place. 

Multiple Telegram signal bots such as CryptoHopper and Cornix offer their services to signal group members so they can have a profitable trading experience and being able to save time.

Both trading bots are VIP so they will charge you with a membership that can be trialed and payed on a montly/yearly basis. The thing about these particular bots is that they not only place orders for their users, but they also give multiple indicators and trading education, as many members try to learn while watching how signals respond to market movements.

It should be noted that users will have to manually configure the bot so it can start working for itself and placing orders in BitMEX. In any case, Altsignals members can decide what suits them better after having a successful manual trading experience in Telegram.

AltSignals Team

Proficient authors guiding you with transparency, integrity and education through the finance international markets

The AltSignals writing team consists of experts dedicated to the world of finance and technology, with a particular focus on cryptocurrencies and forex. Our writers bring a broad range of knowledge and experience, cultivated through years of arduous and direct involvement in financial markets, as well as intense technological collaboration.

Editorial approach

At AltSignals, we believe that transparency and education are the key to empowering our readers. Therefore, our content is meticulously researched to ensure its accuracy and thoroughness. Each of our articles is created with the aim of providing educational insights and in-depth analysis, helping both beginners and experienced traders.

Commitment to quality

Integrity is certainly the foundation of our editorial process. The team follows rigorous journalistic standards with careful review, all to ensure that each publication is meticulously researched and exceeds our readers’ expectations.

Our mission is to provide analysis that informs as well as guides users and enthusiasts through the complexities of the cryptocurrency and forex markets. In line with our motto of “quality over quantity”, we guarantee that only the highest quality trading signals are published.

In addition to our commitment, which extends beyond the simple transmission of useful information, our in-depth analysis focuses on profitability and effectiveness squarely, avoiding the common industry habit of prioritizing profit over accuracy. Our traders are strategic experts who offer personalized help to those seeking worthwhile portfolio management tactics.

Diverse knowledge

Our authors are proficient in a variety of topics across the financial spectrum, from emerging trends in blockchain to the nuances of forex trading. This diverse range of knowledge allows the team to cover several topics, ensuring our content is always comprehensive and deeply specialized.

Interactivity and support

We understand that the world of trading can be complex for many. Therefore, alongside producing informative articles, our team is also committed to interacting with the community. Through comment sections, forums and direct support, we encourage our readers to seek clarification and sharpen their understanding, promoting an environment of continuous learning.

Future vision

Looking to the future, the AltSignals writing team is imbued with a vision that transcends regular publishing, and continues to dedicate itself to discovering and reporting on the latest innovations and trends available in the market. We are constantly seeking to improve our skills and expand our knowledge, with the ultimate goal of being a reliable and respected source in digital financial journalism.

There is great commitment to discovering and reporting not only the latest news and trends in the market, but also to equipping our readers with the tools they need to navigate volatile markets with confidence. We firmly believe that, with the support of an appropriate platform coupled with accurate guidance, our readers and traders can turn market volatility into a competitive advantage.

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Follow AltSignals to stay up to date with the latest developments in the world of finance and technology, and explore how our insights can help improve your trading strategies. The AltSignals team is here to guide you through the exciting, dynamic and challenging world of financial markets.

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