Trade Like a Pro With Copy Trading on LYOTRADE

The new Copy Trading feature is aimed at helping users navigate the challenges of digital asset trading and achieve consistent success.

Navigating the volatile and dynamic world of digital asset trading often presents a constant challenge: achieving consistent success and returns from well-executed trades. From seasoned traders exploring new horizons to new entrants eager for guidance, enjoying a perfect track record in asset trading is a near-impossible feat. 

In line with this, LYOTRADE has introduced a groundbreaking feature, Copy Trading, designed to empower crypto enthusiasts and open up exciting new opportunities.

Understanding the Core of Copy Trading

At the core of the Copy Trading feature are two key roles: the Copier and the Signal Provider (or Key Opinion Leader - KOL). The Copier is the user who allocates assets for copy trading, while the Signal Provider is an experienced trader whose trading strategies and actions are mirrored by the Copier.

Getting Started with Copy Trading on LYOTRADE

The process of initiating Copy Trading on LYOTRADE is straightforward and user-friendly. Here's how it works:

  • Step 1 - Select Copy Trading

To embark on the Copy Trading journey, users need to head to the "Services" menu on the LYOTRADE platform and select the Copy Trading option.

  • Step 2 - Browse Signal Providers

Upon selecting Copy Trading, users are presented with a list of Signal Providers or KOLs. This list includes real-time statistics of their trading performance and historical profits, offering key metrics like Return on Investment (ROI), total Profit & Loss (P&L), and winning percentage. These statistics are essential in helping users make informed decisions.

  • Step 3 - Choose Your Signal Provider

After evaluating the statistics, users can choose a Signal Provider that aligns with their preferences and risk tolerance. Users can select how much of their assets they want to allocate for copy trading, whether in a fixed amount or as a proportion of their total assets.

  • Step 4 - Mirror the Signal Provider's Trades

Once the user selects a Signal Provider and specifies the amount or proportion they want to allocate, LYOTRADE's system automatically mirrors the Signal Provider's opening and closing positions according to the user's settings. This process continues until the user decides to end the copy trading activity.

  • Step 5 - Review Copy Trading History

Users can keep track of their copy trading activities through the "Copy Trading History" section on the platform. This overview displays essential information, such as the total copied amount, income generated, ongoing trade orders, closed trade orders, and the orders currently being followed.

Cancelling Copy Trading

Cancelling the copy trading relationship is also a straightforward process. If a user wishes to discontinue the copy trading relationship with a particular Signal Provider, they can follow these steps:

  • Access Ongoing Orders

Visit the "Ongoing" option within the "Copy Trading History" section and select the Signal Provider you want to stop copying.

  • Initiate Closure

Once you've selected the Signal Provider for closure, the existing orders copied will eventually close when the Signal Provider decides to close their orders.

  • Closure Options

Users can choose between closing the entire copy trading relationship with the Signal Provider or closing specific individual orders.

Key Considerations

It's important to note that users can end the follow activity (copy trading) at any time, giving them complete control over their assets and trading decisions. Additionally, LYOTRADE enforces a maximum leverage of 10x for reliability and risk management.

Another crucial point to remember is that users are not charged for the Copy Trading service. Instead, profits earned are shared between the Copier and the Signal Provider, aligning the interests of both parties.

Empower Your Trading Journey with Copy Trading on LYOTRADE

Copy Trading on LYOTRADE is a potent feature that empowers users to leverage the expertise of experienced traders, thereby enhancing their trading outcomes. It benefits both Copiers and Signal Providers, as it allows the former to learn about trading strategies and grow their holdings, while the latter can earn passively while executing trades daily. 

So, whether you're a seasoned trader looking to diversify your income or a newcomer in need of guidance, Copy Trading can be the catalyst that elevates your LYOTRADE experience to new heights.

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