copyCAT allows traders to follow other people's trades with zero effort, or earn from others following your trades.
When you follow a copyCAT, you make all the trades that the copyCAT leader does.
Trades will be made on your account, but it's important to note that the leader has no remote control over your funds - they cannot withdraw from your account. This permission to make trades on your account is revoked as soon as you stop following the copyCAT.
How to follow a copyCAT
Navigate to the BYBITCOPYCATS tab in the main tab bar.
To follow a copyCAT, click in the Following column.
You will be shown all copyCATs that are available for following. These can be sorted by any of the showing fields:
If you are searching for a specific leader, you can use the drop-down box to find them
You can identify copyCATs based on the leverage they generally use
Coinpair being traded
Choose between BTC/USD, ETH/USD, EOS/USD and XRP/USD
Last 10 results of trades
See the most recent results of the copyCAT. This can be expanded to their entire trading history by clicking on the copyCAT, opening the window below, then navigating to the Trading History tab:
Viewable over the last 1 day, 7days, 1 month and all-time
copyCAT trading direction - whether the copyCAT takes longs, shorts, or both.
copyCAT market conditions - whether the copyCAT works in a trending market, a ranging market, or a breakout market
Whether the copyCAT is fully automated by the leader (i.e. entires and exits are both automated), semi-automated, or completely manual
Average trades per day
Calculated over the duration of the copyCAT
Most recent trade taken
Current number of individuals following the copyCAT and total value of assets that are following
copyCATs with little trading history and a high leverage can be considered high risk. We recommend that you have your own risk limits in place if you select one of these.
How to become a copyCAT leader
CopyCAT leaders receive commissions based on the amount of equity that is following them and taking successful trades.
Navigate to Dashboard, then Your copyCATs
You have the option to create a copyCAT in any of the 4 coinpairs available on ByBit.
For your copyCAT to be etsbalished on the leaderboard, you need to provide some information on it. Fill in the form with as much detail as possible, so as potential followers know what kind of trades you will be taking.
Click Submit and your copyCAT will be live, available to others to see and follow.
As a copyCAT leader, any trades that you take on your connected account will then be taken by any followers. It is expected that you trade in line with your copyCAT listing information and do not take unnecessary risks.
CAT.trade retains the right to withhold commissions from individuals it believes are not acting properly.