#FollowTheLeadTrader In the context of copy trading, a "lead trader" is an experienced trader whose trades are replicated by other users, known as "copy traders," with the potential for the lead trader to earn a share of the copy traders' profits.
Here's a more detailed breakdown:
Role: Lead traders are responsible for making trading decisions, including selecting assets, setting entry and exit points, and managing risk.
Copy Trading: Copy traders follow the lead trader's trades automatically, replicating their actions in their own accounts.
Profit Sharing: Lead traders can earn a share of the profits generated by their copy traders.
Examples of platforms that use lead traders: Binance, KuCoin, OKX
Requirements to become a lead trader: Completed KYC verification, account assets, opened and closed positions, and profits
Benefits for lead traders: Showcase trading skills, enhance reputation, earn rewards and commissions