Automatically Copy Top BitMEX Traders on Aluna.Social
Copy-trading for BitMEX is now available on the Aluna.Social trading terminal.
Connect your BitMEX account to Aluna.Social, view the verified trading history of other traders, and choose to automagically copy the top crypto traders.
If you’re already an experienced trader, you can earn rewards for sharing your trades on Aluna.Social and climbing the leaderboard!
Aluna.Social is an open and transparent gamified social trading network trusted by over 30,000 crypto traders and investors.
Whether you’re an experienced trader, or a newbie to crypto trading, with Aluna.Social you have the potential to enhance your trading performance.
Aluna.Social is kind of like Crypto Twitter, but much more! Not only can you see traders put their money where their mouth is, but it’s a whole ecosystem where traders are also rewarded through different actions.
Here’s what you can do on Aluna:
- Manage your cryptocurrency portfolio across all your exchange accounts from one place
- See what other traders are saying and doing
- Find the best traders to automatically copy trades
- Earn rewards for being an active trader, referring friends, performing well and winning trading competitions
- Engage with and learn from the community to become better traders
Want to learn more? Take a tour through key platform features here.
How to connect your BitMEX account to Aluna.Social
Before you get started, you will need a BitMEX account, and must first complete your KYC with BitMEX.
Read our blog post for a guide on connecting your BitMEX API Key to Aluna.Social.
By connecting your BitMEX account, you start sharing your trades, automatically qualify for the Leaderboard, and can manage your portfolio alongside other exchanges.
You can connect 2 types of trading keys to make the most out of your trading experience on Aluna: a Read-only API KEY, or a Trading-enabled Api Key. The following table summarizes the different features each key enables on Aluna:
Learn more about the benefits of connecting your BitMEX API Key to Aluna.
How to copy a BitMEX trader on Aluna.Social
Copy-trading allows users to automatically copy trades when a selected user (called “Leader Trader”) opens a position.
Aluna also offers Counter-Copy Trading, which allows you to do the opposite trades of your Leader Trader (e.g. when he goes long, you short).
Step 1: Find a Trader to Copy
Click on their username or profile picture to navigate to their Profile page.
Step 2: Click on the “COPY” Button
On the top left of the trader’s Profile, click on the “COPY” or “COUNTER COPY” button.
If you want to open the same position for every position opened by this trader, click on “COPY”. If you want to do the opposite of what this trader does ( i.e. go SHORT when the Leader goes LONG ), click on “COUNTER COPY”.
Step 3: Enter the “Value per trade”
Select which exchange you want to copy/counter the trader on, then enter the “Value per trade” in USD.
Every time your leader trader opens a new position on BitMEX, you will automatically open the same position on your BitMEX account, using the fixed USD amount entered in “Value per trade”.
The minimum “Value per trade” for BitMEX is US$100, and the maximum is US$1,000. The maximum limit will be increased in the future.
Step 4: Click “Start Copying”
Click “Start Copying” or “Start Counter Copying”, and you’re good to go!
- You can copy an unlimited number of leader traders, with different “value per trade” for each individual leader and exchange.
- Only the first trade/order that opens a new position for the leader will be copied for you. When a leader scales (adds to or reduces) his position, those trades/orders will not be copied for you ( this will be addressed in future updates ).
- If you already have an open position on a market, new positions from your leader trader on the same market will not be copied.
- A maximum of 10 copy positions per leader can be opened per day. This is automatically enforced.
- If your leader trader’s API Key gets disconnected while you have active copy-trade positions, you will be notified that you need to manually close your copied-positions yourself.
- Copy-trading is in Beta. Keep track of your own copy positions at all times and report any issues if they happen. By using this feature, you acknowledge that you are fully responsible for any risk involving copying someone else’s trading strategy and also for any technical issues potentially happening during the beta stage.
I started copying. Now what?
Now all you have to do is wait for a leader trader to open a new position.
When any of your leaders open a new position on any BitMEX market, you automatically do the same (or the opposite for counter-copy trading) with a market order.
When your leader trader closes his position, you will close your position with a market order automatically.
You can get notifications on Telegram by connecting your Telegram account to Aluna.
Managing your Copied Positions
If you do not intervene with a trade that you copied from your leader, it will automatically close when your leader closes his trade. If you scale your copied position, it will still close completely when your leader closes his.
You can also choose to manage your copied position, such as by closing it early, adding or reducing your copied position’s size, or taking control of the position.
On the coin page (e.g. BTC), you can create orders and execute trades.
On your position page, you can Take Control and also Close your Position directly. This can also be done on your Positions tab.
If you Take Control of your position, it will remain open even after your leader has closed his position. You will then need to manage your position manually.
Finally, every position page has its own Position Insights section. Insights on this page also come with an additional “price-stamp” showing price at the time of the post.
Whenever a leader adds to or reduces his position, it will show up as a Position Insight on the Position page.
Users can also comment on the timeline, e.g. the leader could explain his rationale behind taking the trade, while any other user can also comment on the thread.
How to Stop Copy-Trading
To stop copying the leader trader, click on the “COPYING” button at the top the Profile, then click on “Stop Copying”.
Even after you stop copying, your currently open copied positions will still be closed when your leader closes their position.
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