In the first half of 2023, the cryptocurrency industry experienced numerous significant events, reaffirming its position as a leading global risk asset. However, this journey was with a lot of challenges, as the market prices witnessed drastic fluctuations, testing the resilience of investors.
PEPE, once at the forefront of the memecoin craze, used pump-and-dump tactics to draw attention from the entire market and traders. As you can see from some representative MEME coins, these types of projects excel at quickly pulling back after the hype has peaked. In such a highly volatile market, where traders’ emotions ran high during a bull market, many investors turned to high-leverage contract trading to seek higher profits.
However, contract trading, though seemingly simple, could lead to liquidation or trading failures if traders lacked experience in market analysis, position forecasting, risk management, leverage control, stop-loss, and take-profit strategies.
Therefore, whether one is a contract trading novice or an experienced trader, rather than blindly diving into the market trend and speculating, it is better to choose copy trading.
What is Copy Trading?
Copy trading, simply, is to copy the trading strategy of other excellent traders, and then according to personal situation to make adjustments to trade. Excellent traders can always share their experience, and novices can learn and grow quickly.
How to Select a Right Copy Trading Trader?
When selecting traders to copy, it’s advisable to check if they have a track record of profitability for over six months. If they do, it indicates that the trader is experienced with a proven track record through various market cycles, displaying strong analytical and predictive abilities. Following such traders would reduce the probability of losses.
Today, there is a wide variety of copy trading platforms in the market. Novice contract traders should opt for platforms that are reputable, secure, have a large user base, fast withdrawal processes, consider liquidity, offer a diverse range of tradable assets, and provide an excellent user experience.
About Tapbit Copy Trading
Tapbit is a contract trading platform that specializes in copy trading. The Tapbit team constantly improves functionalities, explores new products, and strengthens operations to provide users with the most professional copy trading tools. Unlike other platforms with limited copy trading options, Tapbit allows users to customize their copy trading strategies etc..
Tapbit’s contract copy trading offers diverse gameplay and investment choices, including preset follow ratios, preset TP/SL (take-profit/stop-loss), and various choices for opening positions (waiting for the trader’s next position or opening at the current market price) to minimize copy trading risks while catering to users’ trading habits. Once users activate the automatic mode of copy trading, they can monitor their copy trading details, including positions and profits, and terminate positions or copy trading plans at any time, giving them more freedom and flexibility.
Through experience accumulation and innovative operational strategies, there are more than 300 traders on Tapbit, covering most of the world’s top traders, many well-known KOLs who already joined copy trading on Tapbit.
As an emerging cryptocurrency exchange, Tapbit aims to continue providing safe, smooth, and profitable contract trading experiences with robust technological support, dedicated product development, and user-centric services. So that users can use the contract to be more secure, more fluid, and more simple to make money.