On the Binance web version, I found updates to the following order settings; it seems that the mobile version does not have these features yet.
This update mainly revolves around 'slippage'. Below are specific items and my understanding.
1. Regular Investment Plan
Regular investment is equivalent to treating the signal provider as a cryptocurrency for investment. The curve of the signal provider will have ups and downs and fluctuations, and regular investment can make the profit curve smoother.
However, regular investment is more of a strategy used in value investing. Although the reasons vary, the vast majority of signal providers end up being liquidated, and it is highly discouraged to enable this.
2. Preferred Contracts
This option has a lot of operational space, divided into two parts: cryptocurrency selection and removal of low liquidity contracts. If you are not familiar with following orders, it is recommended not to modify this option.
In terms of cryptocurrency selection, you can do the following:
A simpler small black room: check 'Select All' and 'Automatically select newly added contracts', choose USDCUSDT (select at least one contract). On the one hand, this avoids complicated settings for 'position stop loss, leverage, maximum order volume'; on the other hand, it can prevent some position leaks (originally could still open positions), making it more worry-free.
Lower the minimum investment amount: for example, BTC, ETH, AAVE, LTC, these cryptocurrencies have minimum opening amount limits, investing only 10u in following orders may open positions in full, resulting in incorrect ratios and ultimately leading to severe losses or liquidation.
You can adjust the time period to 180 days in the signal provider's 'Asset Preference' section to exclude those cryptocurrencies.
Tip: Minimum investment amount = Minimum opening amount / Signal provider opening amount * Signal provider margin balance
Example: 48ClubWuSi, not recommended Exclude some high-risk trades: Technical analysis is essentially the study of price behavior, summarizing the laws of price behavior, and is ineffective for cryptocurrencies with low transaction volume (no one trades, no commonality).
By only selecting the top 20 cryptocurrencies by 24-hour trading volume, you can avoid some trend traders playing around randomly.
However, note that some signal providers frequently trade cryptocurrencies with relatively low trading volume. If you set it this way, you are very likely to fail in following orders, and the profit curve will not improve. In this case, rather than setting it carefully, it is better not to follow the orders at all.
Computer version
In terms of removing low liquidity contracts, this option is mainly used to reduce slippage. For example, H, although it has liquidity, experiences significant price fluctuations and is still a dangerous cryptocurrency. If you want to avoid some high-risk trades, it is recommended to look at the above 'Exclude some high-risk trades'.
The image below is the official explanation from Binance:
3. Maximum Opening Slippage
Default parameters are shown in the image below:
In other words, this option can be lowered to rigidly limit slippage (which is more likely to cause follow-up failures), or raised to prevent the situation of 'not keeping up with orders' (such as TuYa ShenDui and 383BD).
Based on the signal provider's 'Asset Preference' (see above), in most cases, it is sufficient to keep the default settings, but if the signal provider often opens junk coins, it is recommended to increase the maximum opening slippage.
