Taking spot copy trading as an example, how to correctly use OKX's powerful copy trading platform

Author: OKX

In the highly volatile cryptocurrency market, excellent traders who profit are certainly superior to the average person in one or more dimensions such as market insight, expertise, data analysis, and risk control ability. They can accumulate initial capital more quickly, widening the gap between themselves and novice or ordinary traders.

Those who attempt to find excellent traders through candlestick charts or on-chain data cannot fully reconstruct their trading methods from the sparse clues, nor can they accurately control their trading variables, making the possibility of following and profiting extremely slim. With the continuous evolution of the cryptocurrency market and the innovation of trading tools in crypto exchanges, products that can bridge the gap for users' following needs have begun to emerge—Copy Trading.

On November 10, the globally leading cryptocurrency exchange OKX announced the official launch of "Spot Copy Trading," adding a new piece to its powerful copy trading platform, making it the safest, most advanced, and most comprehensive copy trading platform on the market. Previously, OKX had already launched contract copy trading and strategy copy trading. Through OKX 's powerful copy trading platform, users with different needs can "automatically follow" the operations of leading quality traders, increasing their profit opportunities. Leading quality traders can also "share operations" strategies "anytime, anywhere," gaining more profits.

However, the current market's copy trading platforms vary in quality, and users are not well-informed. For example, why can following the same trader result in both profits and losses? This is because copy trading involves replicating the trading strategies of other excellent traders, but excellent traders are not 100% accurate. A more prudent approach is for users to adjust parameters based on their own situations after selecting a target to follow.

This article will take OKX Spot Copy Trading as an example, analyzing how to correctly use OKX 's powerful copy trading platform from multiple dimensions, including a detailed explanation of the copy trading product, how to select traders, and platform usage methods.

Understanding OKX Spot Copy Trading

The spot copy trading model is similar to contract copy trading and is a new type of social investment method.

OKX selects quality spot traders, allowing users to automatically copy the trading points of traders for following, enabling them to grasp trading opportunities easily without monitoring the market. Meanwhile, spot traders can earn up to 13% in commissions by sharing trading points and other operations. Users pay for trading opportunities, while traders charge for analyzing trading opportunities, thus meeting the needs of both parties.

Through OKX 's spot copy trading product, users can enjoy industry-leading market depth, multidimensional trader data, and guaranteed fund safety, making it easier to capture trading opportunities in the rapidly changing cryptocurrency market. OKX Spot Copy Trading is not only suitable for novice users; even experienced traders can establish their own trading strategies by comparing the trading points of different traders.

The usage method for OKX Spot Copy Trading is very simple. Copy trading users open the OKX App, click "Trade" or "Discover," select "Copy Trading" - "Spot," and choose or filter their preferred spot traders in the copy trading square. Then, click "Copy Trading" or the trader's avatar to view detailed information about the trader, such as performance and historical returns. Finally, click "Start Copy Trading" to complete the setup of spot copy trading, and after confirmation, patiently wait for the trader to open positions.

For quality traders, applications can be submitted through the copy trading banner.

Currently, OKX copy trading operates in an order copy trading mode, covering two types: fixed amount copy trading and proportional copy trading, allowing users to choose based on their needs. Fixed amount copy trading means that when the trader opens a position, the copy trading user invests a fixed amount to follow. For example, if a user sets a single investment of 10 USDT, when the trader opens a position, regardless of how much the trader invests, the user's copy trading amount will be 10 USDT.

Proportional copy trading means that when the trader opens a position, the copy trading user follows according to the trader's order value and the set fixed order multiplier. For example, if the trader has an order worth 1000 USDT and the user sets a single copy trading multiplier of 0.1, then the single copy trading order value will be 10000 USDT * 0.1 = 100 USDT.

It is important to note that copy trading does not guarantee 100% profit.

No trader can always make correct judgments over a long-term trading process. Additionally, sometimes the issue lies not with the trader but with the copy trading user, such as over-reliance on the trader, neglecting risk management, or expecting immediate profits. Copy trading is also a skill, mainly reflected in how to select and evaluate traders, as well as setting copy trading parameters. According to an OKX copy trading user, he selected 3 traders with a 100% win rate from over 4000 traders based on factors such as win rate and opening amount, and ranked TOP1 in returns on the copy trading leaderboard.

Different traders have varying styles, trading experiences, trading philosophies, and focus on different assets. If you prefer short-term small position speculation but follow a trader who prefers long-term trades, it is easy to experience psychological fluctuations, affecting operations and returns. Therefore, it is crucial to invest effort in comparing and selecting among thousands of traders to find the one that suits you best. Additionally, it is important to set reasonable copy trading amounts/positions and manage risks effectively.

To this end, the OKX copy trading system has designed a diverse and valuable parameter system in these aspects. For example, OKX has established a strict review system for traders and publicly displays their real trading data, covering core data such as win rate, profitable days, position distribution, and maximum drawdown, ensuring transparency. This will not be elaborated further; users with copy trading needs can conduct in-depth research, which will increase the probability of profitable copy trading.

Overview of the OKX Copy Trading System

In addition to the aforementioned aspects of selecting traders and copy trading parameters, the stability and security of the platform's copy trading system are also very important. As a global leading cryptocurrency exchange, OKX provides industry-leading trading depth, security systems, etc., allowing timely copy trading even in high-frequency trading, and minimizing slippage in large-scale copy trading. OKX is committed to enhancing the transparency of its Proof of Reserves (POR) to traditional financial audit standards, continuously leading the industry in safety and transparency. It is one of the few mainstream cryptocurrency exchanges that publishes reserve proof monthly. The POR system has been upgraded using innovative technologies such as zk-STARK, allowing users to independently verify OKX's solvency at any time. Since OKX first launched the POR in late 2022, hundreds of thousands of users have accessed the POR page and completed self-verification.

The OKX copy trading system has found a balance between traders and copy traders. In addition to the aforementioned spot copy trading, OKX also offers powerful contract copy trading and strategy copy trading.

To some extent, OKX contract copy trading can be understood as leveraged spot copy trading. It is worth noting that OKX contract copy trading has launched a leaderboard for top traders, making it easier for users to intuitively view the historical data and current positions of high-yield traders and subscribe to receive real-time position change alerts for one-click copy trading.

Unlike spot and contract copy trading, OKX strategy copy trading is designed to meet the growing demand for advanced trading tools and strategies. The strategy copy trading system established in the strategy square allows users to one-click copy strategies from top strategy traders, automatically following triggers/stops, and easily grasping the best timing. On the strategy copy trading page, users can click on any trader's avatar to enter the trader's homepage and view comprehensive performance, current strategies, and historical strategies.

OKX strategy copy trading provides a wealth of high-quality strategies, enabling users to conduct ultra-low latency trading through professional intelligent signals, transforming emotion-driven decisions into data-driven decisions, gaining real-time market insights while accurately capturing trading opportunities. Additionally, based on different users' trading preferences and strategies, OKX's signal strategy platform allows users to freely customize their trading signals on the TradingView platform to meet specific needs, truly achieving a liberated trading experience.

OKX strategy copy trading marks the upgrade of the strategy square to the 2.0 era, building a user-friendly one-click strategy copy trading system, reducing user operating costs, capturing trading opportunities, and helping traders earn commissions. Users open the OKX App, click "Trade," select "Strategy," choose "Strategy Copy Trading" in the strategy square, then select their preferred trader's strategy, click "Copy Trading," understand the detailed parameters of the trader and strategy, and then click "Use Strategy," choose the leverage multiplier and investment amount, click "Confirm," and they can start following the strategy.

The OKX copy trading system, relying on advanced innovative technology, a powerful trading engine, and secure POR, has gradually grown into the safest, most transparent, most advanced, and most comprehensive copy trading platform on the market.

Learn to Harness the Power of Tools

OKX contract copy trading is a promising tool that lowers the trading threshold for cryptocurrency users while providing more opportunities. With the continuous development of the cryptocurrency market and the iteration of OKX copy trading products, it will continue to attract more investors and traders, forming a more active cryptocurrency ecosystem.

However, while the copy trading model alleviates the burden on investors, it should not be completely relied upon. It is still essential to understand how it works and to combine it with one's risk tolerance and return expectations, continuously improving one's investment system. Because copy trading is also a skill, even when following the same trader, there can be both profits and losses.

For both experienced traders and novice traders, only by learning to harness the power of cryptocurrency tools can one achieve greater efficiency. As a global leading cryptocurrency exchange, OKX provides industry-leading trading tools, becoming an important force in changing the future of finance and user participation, as well as a shaper of the digital financial era.

Cryptocurrency trading tools emphasize security and privacy, not only giving rise to numerous financial innovations such as DeFi, NFTs, and DAOs, establishing a robust decentralized financial market, bringing greater transparency and lower trading costs, but also continuously enhancing financial inclusivity. Especially for users without traditional financial accounts, they can access cryptocurrencies through smartphones and the internet, enjoying financial services equally. Furthermore, investors can promote the globalization of financial markets through emerging cryptocurrency markets and diversified asset classes. As cryptocurrency regulation and security issues gradually improve, in the future, cryptocurrency trading tools represented by OKX may become an indispensable part of the new financial landscape.

What users need to learn is—harness the power of tools.