Creating a Trade Configuration

Estimated reading: 5 minutes

Before we can enable Copy Trading we need to create a Trade Configuration. Trade Configurations can be used to change how the trades are opened on your account and limit the risks. For example some traders use 6 figures in a single trade, using the Trade Configurations we can limit the trades to the amounts we prefer.

On the Settings page you can create multiple configurations which can be attached to a trader as show in this guide.

Add Trade Configuration

Lets explain every field

Name Your Configuration

This is the name of the configuration. When you want to choose between configurations when assigning a config to a Trader you need to select by this name to differentiate between the configs.

Ratio To Apply

This is a ratio that will be applied when the Trader opens a position. This can be used to limit or to increase the $ value of the trades.
For example if the Trader opens a $1000 position and you have set a ratio of 0.25 then your position will be $250. If you have set a ratio of 1.5 then it will open a $1500 position.
You can also use the USD Limit settings below to make sure it won’t open too large positions.

Limit Initial Positions $

You can set a amount (in USD) to limit any new position that is opened.
For example if the Trader opens a $500,000 position and your limit is set to $750 then your position will be opened for $750.
The other way around if your Trader opens a $100 position and your limit is set to $5000 then it will also open a $100 position.
You can use the ‘Ratio’ option listed above to apply a ratio to the trader its positions. Try to set a ratio to make their positions fall inside your limits, so you can also benefit from potential position increases when the trader adds to their open position. Besides the ‘Ratio’ option it is advised to also set the ‘USD Limit Positions’ configuration option listed below to a slightly greater than this ‘USD Limit Initial Positions’. That way you can also benefit if the trader adds to his position.

Limit Positions $

This is an optional configuration to set a $ limit on your position when a trader increases his position.
For example if you have an initial position worth $750 and you configured this ‘USD Limit Positions’ option at $1000 then in case the trader increases his position there is also room to increase your position to a max position size of $1000. It will increase your position with the same ratio as your initial position compared to the trader its initial position.
Make sure you enter a higher value than the ‘USD Limit Initial Positions’ option listed above. In case you leave this configuration empty it will use the ‘USD Limit Initial Positions’ option as your limit.

Stop Loss %

You can set a Stop/Loss percentage that will be applied to your positions. If your stop/loss triggers then the position automatically closes at a loss.
If you want to limit the risks you can set a lower % than the default of 8%, if you want to follow the trader then you can set a higher %. You can also leave it empty or set it to 0% to disable the Stop/Loss altogether.
For example if you set a 8% Stop/Loss and a long position was opened for BTC/USD at $30,000 then your stop/loss triggers when the BTC/USD price goes below $27,600 (8% below $30,000).
Do note that in the case you are using a high leverage that your liquidation price might trigger before your stop loss is hit.

Take Profit %

You can set a Take/Profit percentage that will be applied to your positions. If your take/profit triggers then the position automatically closes at a profit.
To disable the Take/Profit feature you can leave the field empty or set it to 0%.
For example if you set a 2% Take/Profit and a long position was opened for ETH/USD at $1,500 then your take/profit triggers when the ETH/USD price goes above $1,530 (2% above $1,500).
Note: This is a feature only available on the PRO plan.

Limit %

Set a limit percentage to only open positions if the market is still within this range from the entry of the Trader you follow.
This will be used to skip a copy trade in case the market went up (for a long position) or down (for a short position) too much and you wouldn’t get a profitable entry otherwise.
For example if you set a 1.5% limit and a Trader opens a long position at $5 then your position will only be opened in case the market didn’t move above $5.075 ($5 + 1.5%)

Preferred Leverage

With this setting it is possible to override the Preferred Leverage that was configured while adding the Bybit Exchange or the Kraken Exchange to our platform.
If you leave this field empty then it will use the Exchange its configured leverage.
In case you set the Preferred Leverage to 0 then it will use the same leverage that was used by the trader you are copy trading.
Always remember the higher your leverage the more risk you take.

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Creating a Trade Configuration

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