I appreciate your efforts. It's indeed a tough project to manage even a few traders with all their habits and risk profiles. Regular numerical analysis of all the statistics is very important. I have one possible idea for the next steps. Now I am analyzing the output of my transactions that may be downloaded as an Excel file and compare these data with the web data in the History of orders. Unfortunately, the correspondence of these sets is far from ideal. Real downloaded Excel data from are far less good than the PnL in the dashboard page. An this is not only the effect of fees. I feel that we don't know exactly the real Close Position prices for each copy trade. Anyhow I feel that this issue should be examined.
Hey Igor, the mismatches in results can happen from time to time, especially with lower leverage settings. That is a simple rounding causality, for example in the case of Bitcoin, the decimals are limited. As such, it can happen that a $10 position represents only $8 in value. With larger leverage this difference becomes less evident. I'm OK with a few % difference in the actual result and P&L display, that is within the error margin. As I'm in for the long run, those differences become minor inconveniences. In any case, let me know if your analysis leads to some other explanation, I'd be curious to know if there is some other reason for this!
@@pigmoney I understand that issue, but in my case it was much MORE than a few percent and naturally I had to address my request for the clarification to the Bitget support. But at first some history: I had 4 monthes of copy-trade experience. I tried several master traders, but not more than one trader at a time. In this case, indeed, it was not more than a few percent difference. Last month I added two more traders and ... huge deviations for my PnL and traders PnL appeared. Some positions had deviations over 100% of PnL compared to Master Trader PnL. Yesterday I got the following explanation for this case from the support: "If multiple positions are opened in the same trading pair on futures trading, the positions will be merged, and the average position price will also change, resulting in different results." It may mean that their system does not make any difference between different simultaneously opened orders on the same pair!!?? Sounds bizarre and horrible to me. Anyhow, I will try the following: create subaccount for each master-trader and analyze the results then. BTW, in Bitget personal history of copy trade transctions DOES NOT include Open and Close prices for the positions!
Oooh, okay I understand what you mean. You are probably looking at positions in the Futures tab, where indeed, positions are aggregated. For following your copytrading performance, it is always best to refer to the copytrading tab. That's where you get the most accurate info. The Futures tab in this case is merely an overview, that is useful in some ways, but not for the purpose of measuring individual copytrade results. Maybe I'm still not getting the problem, feel free to pop me a mail to ( penzmalac @ gmal . com )
@@pigmoney Oh, thx a lot! I do analysis using copytrading tab as well. History of transactions includes all the fees and I compile monthly results using this history. If the results and copy trading tab correspond to each other within several % = OK. If not - I have to dig into. I do suspect that in my case big deviations were caused by those opened orders that master traders do not close for a bit of days waiting for a better price level. But those opened positions obviously change the average Open Price.
Yeah that's probably going to be the case. Regardless it is always good to have a full analysis of the different transactions just to see clearly. Good luck!
Any chance you could supply your excel sheets with the analysis data of the traders you look at each month, for a fee? Maybe even provide the list of traders you are copying each week with lot sizes and leverage etc. again for a fee
Hey there, all content relating to these videos will always be free, I will never charge anything for the tutorials or the materials presented. I will definitely consider providing a download link to my analysis file for the community. Also, I have some ideas which are more advanced, but can't talk about just now 😎
@@westmidscom1893 Monthly update is coming out tomorrow, with all the traders I copy and consider copying in the future, with the settings and configuration. I will share the download link to the Excel analysis of the traders I keep monitoring. Please note though that by watching the tutorial series on the channel you will get to know how to set up the configuration properly in order to keep your account safe and profitable. This will make you independent from my updates as you would learn all the principles that I apply myself when setting up the parameters.
Hello Muhammad, for the time being, I don't have a master trader account on Bitget that could be copied. However, I would suggest that you watch the tutorial videos on this channel that will explain everything that you need to know if you want to get into copytrading. I hope the content will be helpful for you, wishing you good luck and a lot of profits!
Oh boy... Sorry about that. If that makes you feel any better, in my early years I got liquidated more than once. However, that kept me motivated to research and analyse how the system works and how I can make it profitable and avoid losses. Now I'm at the point where I'm probably 18 months without liquidations. I know it feels terrible when the investment is gone... In these times it can help if you disconnect from trading, breathe some fresh air, and collect your thoughts. Come up with a plan, make the research, and get back if you feel confident about the execution. That has worked for me in the past. Hope this helps.
Thanks for the update. I follow Kendrick, One monkey and two others. They performed well the last months but the short squeeze at the beginning of the year lead to high losses with some traders. What stop loss do you recommend while using a 3x or 4x leverage? My copy trading account is at about 650 $ and my lot size at 10 $ each. Thanks in advance.
Hello Sebastian, indeed, the January pump was a bloodbath all across the board, I don't think any trader saw it coming. It was a classic market deviation from a trend, all that happening rather quickly, with no time for the price to consolidate (I'm still suspicious about the mechanics of that rise to be honest). As for the stop-loss, I don't have a pre-defined number that works for every trader. What I do is I check the monthly average profit they make, take 1 or 2 months value, average order count in loss, and calculate stop losses accordingly. Pretty much what I did for Luckingboy just recently. For others I haven't registered a SL, because I prefer full manual control once I see positions getting too deep in red. Also I am more forgiving with longs being open compared to shorts. For a budget of $650 and 4 traders, I would say 4x leverage with $10 lot size is the maximum, the rest is making sure you copy traders that don't go crazy with the position count. This can be analyzed with the method I described in my previous videos. I hope this answers you question, good luck with trading!
I learned too late that I shouldn't go with most traders' 50x wave (greedy amateur thinking), and I zeroed out my wallets several times. but I learned my lesson precisely by seeing the behavior of traders on bingx - there, they are more responsible.
Well on Bitget's copytrading everything is about proper analysis adjusting settings to your risk tolerance, this of course includes leverage and lot size too. This account has been up and running for 5 months, without a risk of liquidations, even though market conditions were quite rough. Haven't heard from the one you mentioned, I'll check it out to see what it's all about.
@@pigmoney but I noticed the same problem: there are few very good traders left. they seem to give up after a while. most are a month or two old. until I recently discovered one from binance: traderwagon. it seems that all the good traders are there. all with good monthly returns and apparently stable. I haven't ventured into that platform yet.
I appreciate your efforts. It's indeed a tough project to manage even a few traders with all their habits and risk profiles. Regular numerical analysis of all the statistics is very important. I have one possible idea for the next steps. Now I am analyzing the output of my transactions that may be downloaded as an Excel file and compare these data with the web data in the History of orders. Unfortunately, the correspondence of these sets is far from ideal. Real downloaded Excel data from are far less good than the PnL in the dashboard page. An this is not only the effect of fees. I feel that we don't know exactly the real Close Position prices for each copy trade. Anyhow I feel that this issue should be examined.
Hey Igor, the mismatches in results can happen from time to time, especially with lower leverage settings. That is a simple rounding causality, for example in the case of Bitcoin, the decimals are limited. As such, it can happen that a $10 position represents only $8 in value. With larger leverage this difference becomes less evident.
I'm OK with a few % difference in the actual result and P&L display, that is within the error margin. As I'm in for the long run, those differences become minor inconveniences.
In any case, let me know if your analysis leads to some other explanation, I'd be curious to know if there is some other reason for this!
@@pigmoney I understand that issue, but in my case it was much MORE than a few percent and naturally I had to address my request for the clarification to the Bitget support. But at first some history: I had 4 monthes of copy-trade experience. I tried several master traders, but not more than one trader at a time. In this case, indeed, it was not more than a few percent difference.
Last month I added two more traders and ... huge deviations for my PnL and traders PnL appeared. Some positions had deviations over 100% of PnL compared to Master Trader PnL. Yesterday I got the following explanation for this case from the support: "If multiple positions are opened in the same trading pair on futures trading, the positions will be merged, and the average position price will also change, resulting in different results." It may mean that their system does not make any difference between different simultaneously opened orders on the same pair!!?? Sounds bizarre and horrible to me. Anyhow, I will try the following: create subaccount for each master-trader and analyze the results then.
BTW, in Bitget personal history of copy trade transctions DOES NOT include Open and Close prices for the positions!
Oooh, okay I understand what you mean. You are probably looking at positions in the Futures tab, where indeed, positions are aggregated.
For following your copytrading performance, it is always best to refer to the copytrading tab. That's where you get the most accurate info. The Futures tab in this case is merely an overview, that is useful in some ways, but not for the purpose of measuring individual copytrade results.
Maybe I'm still not getting the problem, feel free to pop me a mail to ( penzmalac @ gmal . com )
@@pigmoney Oh, thx a lot! I do analysis using copytrading tab as well. History of transactions includes all the fees and I compile monthly results using this history. If the results and copy trading tab correspond to each other within several % = OK. If not - I have to dig into. I do suspect that in my case big deviations were caused by those opened orders that master traders do not close for a bit of days waiting for a better price level. But those opened positions obviously change the average Open Price.
Yeah that's probably going to be the case.
Regardless it is always good to have a full analysis of the different transactions just to see clearly.
Good luck!
Any chance you could supply your excel sheets with the analysis data of the traders you look at each month, for a fee?
Maybe even provide the list of traders you are copying each week with lot sizes and leverage etc. again for a fee
Hey there, all content relating to these videos will always be free, I will never charge anything for the tutorials or the materials presented. I will definitely consider providing a download link to my analysis file for the community.
Also, I have some ideas which are more advanced, but can't talk about just now 😎
@@pigmoney sounds good.
Any chance of an update of which traders your copying at the moment?
@@westmidscom1893 Monthly update is coming out tomorrow, with all the traders I copy and consider copying in the future, with the settings and configuration.
I will share the download link to the Excel analysis of the traders I keep monitoring.
Please note though that by watching the tutorial series on the channel you will get to know how to set up the configuration properly in order to keep your account safe and profitable. This will make you independent from my updates as you would learn all the principles that I apply myself when setting up the parameters.
how much minimum required dollar to copy you in bitget?
Hello Muhammad, for the time being, I don't have a master trader account on Bitget that could be copied.
However, I would suggest that you watch the tutorial videos on this channel that will explain everything that you need to know if you want to get into copytrading.
I hope the content will be helpful for you, wishing you good luck and a lot of profits!
I think I came across your channel very late. Today my 500$ got liquidated as btc dumped. Thats all I had😢
Oh boy... Sorry about that. If that makes you feel any better, in my early years I got liquidated more than once. However, that kept me motivated to research and analyse how the system works and how I can make it profitable and avoid losses.
Now I'm at the point where I'm probably 18 months without liquidations.
I know it feels terrible when the investment is gone... In these times it can help if you disconnect from trading, breathe some fresh air, and collect your thoughts. Come up with a plan, make the research, and get back if you feel confident about the execution. That has worked for me in the past.
Hope this helps.
@@pigmoney thanks 👍
Thanks for the update. I follow Kendrick, One monkey and two others. They performed well the last months but the short squeeze at the beginning of the year lead to high losses with some traders. What stop loss do you recommend while using a 3x or 4x leverage? My copy trading account is at about 650 $ and my lot size at 10 $ each. Thanks in advance.
Hello Sebastian, indeed, the January pump was a bloodbath all across the board, I don't think any trader saw it coming. It was a classic market deviation from a trend, all that happening rather quickly, with no time for the price to consolidate (I'm still suspicious about the mechanics of that rise to be honest).
As for the stop-loss, I don't have a pre-defined number that works for every trader. What I do is I check the monthly average profit they make, take 1 or 2 months value, average order count in loss, and calculate stop losses accordingly. Pretty much what I did for Luckingboy just recently.
For others I haven't registered a SL, because I prefer full manual control once I see positions getting too deep in red. Also I am more forgiving with longs being open compared to shorts.
For a budget of $650 and 4 traders, I would say 4x leverage with $10 lot size is the maximum, the rest is making sure you copy traders that don't go crazy with the position count. This can be analyzed with the method I described in my previous videos.
I hope this answers you question, good luck with trading!
I learned too late that I shouldn't go with most traders' 50x wave (greedy amateur thinking), and I zeroed out my wallets several times. but I learned my lesson precisely by seeing the behavior of traders on bingx - there, they are more responsible.
Well on Bitget's copytrading everything is about proper analysis adjusting settings to your risk tolerance, this of course includes leverage and lot size too.
This account has been up and running for 5 months, without a risk of liquidations, even though market conditions were quite rough.
Haven't heard from the one you mentioned, I'll check it out to see what it's all about.
@@pigmoney but I noticed the same problem: there are few very good traders left. they seem to give up after a while. most are a month or two old. until I recently discovered one from binance: traderwagon. it seems that all the good traders are there. all with good monthly returns and apparently stable. I haven't ventured into that platform yet.
@@drma-tech Alright, thanks for bringing that to my attention, I will definitely check that out too!