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

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.

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?

• 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.

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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.