How to earn dollars through copy trading

1. Create and Fund a Binance Account:

Sign Up: If you don’t already have an account, create one via the Binance website or app.

Deposit Funds: You need to deposit USDT (Tether) or any other supported stablecoins/cryptocurrencies to start copy trading. Most traders use USDT for futures trading.

2. Navigate to the Copy Trading Section:

Open Binance App: After logging in, go to the "Futures" tab.

Select Copy Trading: You should see the "Copy Trading" section under Futures. This allows you to copy successful traders automatically.

3. Choose a Successful Trader to Copy:

Trader Selection: You'll see a list of traders with performance metrics like ROI (Return on Investment), win rate, and the total amount of capital managed (AUM).

ROI: A higher ROI means better returns on trades.

Win Rate: A win rate above 70% is generally considered good.

AUM: Higher AUM means more people trust this trader.

Choose a trader with consistent, stable profits rather than just high one-time gains.

4. Set the Copy Trading Parameters:

Click "Copy": Once you find a trader you like, hit the "Copy" button.

Set Investment Amount: Enter the amount of USDT or crypto you want to invest. Binance will automatically copy the trades of that trader for you.

Risk Management: Adjust the settings for risk management. You can set stop losses and take profits, so your funds are protected if the market moves against the trader you're copying.

5. Monitor Your Trades:

Check Performance: Keep an eye on your portfolio regularly. While the trader you're copying does all the work, it's good practice to monitor performance.

Withdraw Profits: As your copied trades generate profits, you can withdraw your earnings or reinvest them.

6. Diversify:

Copy Multiple Traders: To increase your chances of making a profit, you can copy multiple traders with different strategies. This spreads the risk across various trades.

7. Adjust or Stop Copying:

If the trader you’re copying starts performing poorly, you can stop copying them and choose a different trader.