In this article, we explain what copy trading is and the different types of copy trading on Cryptohopper.
Copy trading involves mimicking the trades of experts on our platform. Our platform offers several options for copying traders, such as the copy bot, signalers, templates, and strategies.
The Copy Bot is the easiest way to copy an expert. Check out the Marketplace, select a trader you want to copy, click on subscribe, and enter your API Keys. This bot type requires only a few settings you must configure and is the most hands-off approach to copy trading.
In the regular trading bot, you can subscribe to trading signals. Check which Signaler you like to subscribe to, and determine which sell settings you want to apply to your trades. It's possible to use the sell settings of Signalers, or you can configure these yourself. Signalers will explain what settings you could use to get started.
Templates are preconfigured bots that have the settings already set up for you. With Cryptohopper, there are a lot of different features, which can be overwhelming. With a template, all the features are set up for you. Marketplace Sellers often recommend you use complementing strategies or trading signals, so ensure reading the template description.
Another option in the regular trading bot is strategies. Strategies consist of a set of Technical Indicators that determine when your bot should buy or sell. Use the Strategy Backtester in the Marketplace and determine which strategy you want to use in your trading bot.