For Trader
To protect investors, traders are required to apply for "CoinW Lead Trader" position. After passing the audit, the trader will be given official recognition from CoinW and then receive the profit share.
Below are the operation process and precautions.
Step 1: Enter "Copy Trading" from the official website/APP home page
Step 2: Click "Be a trader" to enter the application page
Step 3: Fill out the information and submit, the application will be reviewed by our platform
Note:
- The applicant who has a current Copy Trading is not allowed to apply. Please close the copy trading first.
- The trader who has holding positions or uncompleted orders is not allowed to apply. Please close the positions and withdraw the orders first.
- During the audit stage, the trader is not allowed to follow other traders; if the audit is rejected, the trader can follow other traders
Step 4: After passing the audit, enter "My Order" - "Open Order"
Conditions of "Open Order"
- No holding positions or uncompleted orders;
- The available balance in the Futures account ≥ 500 USDT （Account balances must maintain a minimum of 200 USDT. Should they fall below it, the trader's information will no longer be featured in the copy trading's leaderboard.）
Step 5: After opening the order, you can enter the "My Orders" for "Order Settings"
- Trader can choose to display/not to display the principal of order (Default state: Display)
- The trader can select tokens they prefer and open orders, with a minimum of 1 token selected (Default state: All selected). The token without selection can be traded normally, the followers cannot see the relevant order information, and cannot follow the orders.
Step 6: Enter the page “Futures”, select trading pairs, then trade
Note:
- The trader must use the merge mode to open the order, with the option of Cross/Isolated mode
- The trader can open the order with market price only, no limit or trigger price allowed.
- The trader can set the position stop order after opening the order, or choose the market price to close the position. Trailing Stop and limit order are not supported.
- When closing the position, The trader needs to close all positions. Partial liquidation is not supported for now.
Step 7: The current order information can be viewed on the "My Orders", including the follower information and the expected profit share information. Also, the positions can be one-click liquidated.
Step 8: Choose the appropriate point for liquidation. If the followers have profit after that, will be shared with the trader based on the trader's current share percentage, as their Profit-sharing. The trader can view the profit sharing information on the order details page.
Note
- Today's expected profit share is the amount of the expected profit share, the actual profit share amount should be recalculated after liquidation.
- No profit sharing for losing orders.
- The actual daily Profit Sharing will be settled in the early morning of the next day
- The profit share will be paid to the trader only after the followers have liquidated all the positions. For example, if a follower follows one trader with 2 orders, order A profit of 200U, order B loss of 100U, then after both orders are liquidated, the total profit of 100U will be shared according to the trader's profit sharing ratio, and will be settled in the early morning of the next day.
Other notes.
1.Traders need to pay attention to their own trading data, these data will affect the trader's ranking information on the home page of copy trading
Among: ROI/ROI Amount/Win or Loss Trades/average holding time, only liquidated orders will be calculated
2. The maximum number of followers per trader is 100, you can choose to remove followers on the "My Followers" page
Note that
a. The user can not be removed when there is a current copy trading, need to be liquidated first and then remove
b. After removal, the user can still choose to follow if there are available positions in the trader's followers.
3.CoinW will review the trader's qualifications periodically and has the right to prohibit the unqualified traders from taking orders. The prohibition will not affect the current orders and profit sharing, but the newly opened orders will not support the user to follow; CoinW also has the right to cancel their trader roles, and the current orders will not be affected after the cancellation, but the profit sharing will not be settled after the position is liquidated.
4.traders can reduce risk at any time by increasing the margin: Cross mode only needs to transfer assets to the futures account; Isolated mode can also increase the position margin directly
FAQs for traders
Q: When will my dividend be distributed?
A: Profit sharing will be settled at 0:00(UTC+8) every day and will be completed before 1:00(UTC+8). The profit sharing will be automatically transferred to your futures account after the settlement. If you hold a position within the period of profit-sharing settlement, the profit-sharing distribution will be settled on the next trading day.
Q: How do I calculate my dividend?
A: Dividend =total profit of closing positions from followers (deducting service charges) * dividend ratio . If you have multiple orders copied by followers, some of which have losses, your dividends will be affected. The actual dividend is subject to the "My order to be copied" - "Estimated dividend today".
Q: How do I calculate my yield rate?
A: Yield rate=sum of realized profits and losses of closing order/sum of position deposit of closing order; If you have one order position deposit of 90U, the closing profit is 20U, and if you have another order position deposit of 10U, the closing profit is 5U, then your yield rate=(20+5)/(90+10)=25%.
Q: Why is my yield rate positive, but my yield negative?
A: The yield rate is based on the data of the last 7 days, and the yield on the data of the last 3 weeks and the cumulative yield.
Q: Why do some followers fail to copy my orders?
A: If users don’t have sufficient funds in the copy trading account; they don’t select the trading pairs ordered by the trader; the copy trading deposit exceeds the maximum copy trading amount set by the followers, they will fail to copy the trading.
Q: How to apply for trader status?
A: Click "Become a trader" on the home page of the copy trading, and the staff will review it within one working day after your submission.
Q: How do I change my nickname?
A: Click the setting in the upper right corner of APP - Copy trading - My order to be copied to modify the nickname, and the staff will review it within one working day after your submission. Please do not include any word related to "CoinW" in your nickname.
Q: How to cancel the trader status?
A: Contact the online customer service to apply, and the staff will cancel it for you within one working day.
For copiers:
Step 1: Enter the "copy trading" page from the official website/APP home page
Step 2: Select a trader
- Search the trader ID that you want to follow directly
- Select the trader by their relevant information on the trader page
- Click the trader information to enter the trader details page
Step 3: Select the ideal trader - click copy trading - enter the setting page of copy trading
- Copied futures: Here shows the trading pairs that the trader is allowed to follow, you can choose the trading pairs to follow, and the unselected one will not be followed automatically
- Position type: copy trading only supports merge mode, with the option of Cross/Isolated mode
- Leverage: you can choose the leverage of all orders (default 5✖️leverage), the leverage cannot be higher than the maximum leverage of all trading pairs( for example, if choosing BTC and DOT, then the maximum leverage can be 50 times); also can choose to follow the leverage of each order from the trader
- Single amount: the margin amount for every position opening. Can be chosen as a fixed amount, within the range of 10-1000 USDT; can also be chosen to open a position with a fixed multiple of the trader's position value, within the range of 0.1-10 times
- The deposit of copy trading: all the deposits that are used to follow the trader, no limit, will automatically transfer the corresponding amount from the futures account to the trader’s sub account of copy trading after the confirmation
- TP/SL ratio: After each copy trading reaches the corresponding TP/SL ratio, the position will be liquidated automatically (no TP/SL opened by default)
- Maximum deposit: the total deposit of the copy trading exceeds the maximum, after that, copiers will not follow to open the position (default no limit)
Step 4: After the settings are completed, the current following trader can be viewed on the "My Orders" page, and the information of copy trading can also be re-edited
- The Edited/modified information, is only effective for the new copy trading after modification
- Additional deposit of copy trading: the deposit can be increased, reduction is not supported for now
- Transfer: in the assets - copiers account, every transfer of assets in the copiers' account is supported
Step 5: Start copy trading, enjoy the benefits
Note
- if the trader has a current position, you will not automatically follow, only the new positions opened after the following will be followed automatically
- Follow the trader to liquidate automatically, all will be executed at market prices
- After following the trader to open a position, the users can liquidate the position by themselves
- Reaching the preset TP/SL ratio, the position will TP/SL automatically; users can also set the TP/SL on their own
- If the copier has insufficient funds or the deposit of holding position exceeds the maximum value, the copier will be unable to follow the trader in the follow-up trades.
- if the amount is insufficient to open one position, you will not be able to follow and open the position ( for example, each futures cont value of ETH is 0.01 ETH, based on the price of 2000 USDT, 20 USDT is required to open a position with 1 time leverage margin )
- if Forced Liquidation happened on the order of the lead trader, the copiers' orders will also be liquidated automatically
Step 6: Liquidation and pay the profit
- The current and historical order details can be viewed on the "My Orders" page
- If the copy trading generates revenue, the profit will be automatically distributed to the trader based on the profit sharing ratio after liquidating the position. The profit sharing ratio for each trader can be viewed on the trader information page
- In order to protect the trader, the profit sharing will be settled only after all orders from one trader have been liquidated. For example, if a copier follows a trader with two orders, and after the liquidation, order A makes 200U profit and order B makes 100U loss, then the total profit of 100U will be shared according to the trader's profit sharing ratio after both orders are liquidated.
Other notes:
- While following the trader, you can also do your own futures trading; the relevant orders are not affected by following orders
- Users can choose to follow multiple traders at the same time, there is no upper limit. Each trader has their own account and deposit funds, the copy trading from different traders do not affect each other
- You can cancel the following at any time. The cancellation will liquidate the position automatically if you have copy trading. How to cancel: My orders - My trader - Edit page
- When there are no orders, the trader has the right to remove their followers. The follower will not follow the new order after the removal.
- Whether you cancel actively or passively, the funds in the follower's account will be transferred to the futures account automatically.
- Followers can apply to become a trader at any time, with profit sharing. For the relevant content please refer to the section of the trader
FAQs of copy trading followers
Q: Why can’t I copy the trading?
A: If users don’t have sufficient funds in the copy trading account; they don’t select the trading pairs ordered by the trader; the copy trading deposit exceeds the maximum copy trading amount set by the followers, they will fail to copy the trading.
Q: Why am I losing money when traders gain?
A: There are several reasons for that:
- As the synchronization of tradinginformation takes time, when the market fluctuates greatly, traders might have different the opening and closing prices fromcopy trading followers;
- If the trader increasespositions, the copy trading followersmay fail to do so for the same reason the causes the failure to copy the trading;
- If the trader increases positionsby different amountfor every round, but the copy trading followers set a fixed deposit, their average opening price will be inconsistent with that of the trader.
Q: How to calculate and distribute the dividend to traders?
A: The total profit of the orders followed from the traders on that day (after deducting the handling fees) * the profit ratio will be used as the traders' profit, which will be automatically deducted when each order is closed. The actual profit is subject to the "trader’s profit sharing" on the "My orders copied by followers".