Copy trading is all about… sure you guessed it—copying.
Unlike college where copying from high performers is strongly discouraged, in the cryptocurrency markets you are allowed to copy from expert traders.
In fact, it’s encouraged.
And structures have been built around the same idea. These automated trading robots enable professional traders to make a commission from amateurs copying their trades.
And what’s in it for the amateur?
Well, the newbie can gain from automated trading following tried and tested methods. In other words, you ought to commence with zero knowledge of crypto trading today, synchronize your account with a seasoned trader’s and learn, beginning with the fundamentals of cryptocurrency trading. How far you go depends on your zeal to learn.
If you’re considering becoming a cryptocurrency trader but are scared of losing your hard-earned money to the unpredictable markets, then read on to see how you can get started trading the crypto markets with minimal loss.
You Need a Crypto Bot to Effectively do Copy Trading
The cryptocurrency market is volatile. Even more risky than the forex market. So closing in on manual trades is a real struggle.
This is why crypto trading bots have become so common. They open and close trades much faster than you can make a single click on your phone.
Royal Q is one such system.
Within Royal Q, professional traders have formed communities of followers with whom they share precious information of the crypto markets and trading strategies.
JDWINNER, QQ Circle, and AUTOSULTAN are some of the common traders that beginner traders can synchronize their trades with.
Now, let’s uncover the benefits of copy trading in the crypto market—in detail.
1.Copy Trading is a Time Saver
Traders who are determined to win and make income in the enterprise spend a lot of time in front of pc monitors, watching the graphs of crypto chart patterns. And analyzing the overall performance of various coins.
They additionally study books and watch movies to learn about the cryptocurrency market in depth. As if that’s not enough, what follows is their trading from demo accounts, before they can venture into the real market to use real money.
The art of copy trading on the other hand entails skipping all these stages and going straight to follow how these well-trained traders do it.
Isn’t it then fair that as a amateur copying trades, you’re required to pay a commission to the leaders?
So yes, there is a price to pay for copy trading. But, as the next factor reveals, the price is pretty fair.
2.You Pay a Reasonable Price to Copy Trade
There are both direct and indirect fees associated with copy trading via Royal Q. The following are the initial upfront costs:
An annual subscription rate of 100USD.
Fuel charge of 20USD.
Please notice that the fuel charge isn’t a one-time payment. It caters to the continuous buying and selling of different coins as your trades take place.
Simply put, you pay $100 to get right of entry to the robot for a complete year. And then pay the gas fee to gain from the automated day by day trading.
As for the indirect costs, a 1% fee is taken from all your earnings as fee to the professional trader that you copy.
All these are reasonable expenses to pay for the convenience of trading cryptocurrencies on autopilot.
3.Copy Trading Gives You a Headstart into the Cryptocurrency Markets
Getting started out as a crypto trader can be an overwhelming experience.
First of all, up to date, there are more than 4000 distinctive cryptocurrencies in the digital market. Of course, the number of popularly traded ones is a whole lot lower. But for a beginner making an attempt to determine which altcoins to study and trade, this can be intimidating.
Copy trading offers you a start-up advantage via selecting the coins probable to perform well and trade these for you, at every given moment.
If you’re fascinated in opening some trades manually for your self as well, Royal Q presents you with a list of coins to choose from. These are highlighted in gold within the app.
And the listing is continuously being upgraded in accordance to the real-time performance of each of the coins.
In essence, copy trading ensures that you are not caught trying to figure your way into the market. But offers you up to date data on how best to trade.
4.Copy Trading Enables you to Learn on the Job
You have two alternatives when you begin out as a copy trader:
To simply copy the strategy of a good trader.
To develop into a good trader yourself.
If you’re fascinated in the latter then you can consider the first few months of copy trading as on-the-job training.
And I must say just how much easier it is to gain interest in a system that only makes earnings for you.
Before you know it, terms like call margin, profit call back, and margin call drop cease to be gibberish. They soon turn out to be your language as you watch trades opening and closing in profit and research how all that takes place.
You can additionally take courses such as this one, to strengthen your knowledge of cryptocurrencies.
5.Copy Trading has Low Initial Costs
Using Royal Q, you need a minimal of 220 USDT in your Binance or Huobi wallet to commence trading.
This covers all the Royal Q preliminary costs, leaving you with an initial trading balance of 100USDT, give or take.
You don’t need any specialized machinery to get into this business either. You can do everything from signing up, to tracing your profits, and additionally withdraw your funds straight from your phone.
Why don’t you take advantage of this system and step into the world of digital cryptocurrency trading with poise?
Register for Huobi Pro or Binance, to deposit your starting balance. These two are main global digital asset exchange platforms. So far, they’re the only two platforms that can be bound to Royal Q for automatic trading.
Sign up for Royal Q, and perform API binding between the robotic and Huobi or Binance to get started.