BITWHALE's Copy Trader feature allows you to replicate the trades of successful whales on Hyperliquid with just one button. This tutorial will introduce the Copy Trader, explain how to use the “Hot Positions” section shown in the screenshot, and guide you through setting up automatic trade replication to improve your ROI.
Introduction to the Copy Trader Feature and How It Works
- What It Does: Copy Trader lets you mirror the trades of top-performing whales on Hyperliquid. You can copy their open positions directly from the “Copy Hot Positions” tab on both the Hyperliquid or Bybit Exchange depending on your selection.
- How It Works: BITWHALE identifies high-performing trades and lets you replicate them with a single click. Depending on your plan, you can copy trades for specific pairs (BTC and ETH on the Free Plan, more pairs on Premium/Professional plans).
- Benefits: Save time, leverage the expertise of successful traders, and potentially boost your returns.
How to Find and Follow Top-Performing Traders on BITWHALE
- Access the Copy Hot Positions Tab
- From the BITWHALE dashboard, navigate to the “Copy Hot Positions” section (as shown in the first screenshot).
- This tab lists current open trades by whales, including key details.
Interpret the Hot Positions Data
- Coin: The asset being traded (e.g., SOL, BTC, HYPE).
- Side: Whether the position is Long (betting on price increase) or Short (betting on price decrease).
- Size: The size of the position (e.g., 15,000 SOL, 100 BTC).
- Entry Price: The price at which the position was opened (e.g., $102.1507 for SOL).
- Current Price: The current market price (e.g., $102.2150 for SOL).
- Difference: The percentage change between entry and current price (e.g., 0.06% for SOL).
- Position Value: The total value of the position (e.g., $1.53M for SOL).
- Unrealized PnL: The profit/loss on the position (e.g., +$1,188.77 for SOL).
- Time Open: How long the position has been open (e.g., 9 minutes).
- Actions: A “Copy” button to replicate the trade (Premium users see additional options).
- Observation: The SOL Long position (15,000 SOL) has a small 0.06% gain but a significant $1,188.77 profit, indicating a large, potentially promising trade.
- Identify Trades to Copy
- Look for positions with positive PnL and reasonable time open (e.g., the SOL Long with +$1,188.77 or HYPE Long with +$551.36).
- On the Free Plan, you’re limited to BTC and ETH pairs
Step-by-Step Guide to Setting Up Automatic Trade Replication- Select a Trade to Copy
- In the Hot Positions tab, find a trade you want to replicate. For example, the HYPE Long position (105152.09 HYPE, +$551.36 PnL) looks promising.
- Click the “Copy” button next to the trade. (Note: On the Free Plan, you can only copy BTC or ETH trades, so you’d need to upgrade to copy HYPE or SOL.)
- Configure Copy Settings
- BITWHALE may prompt you to set parameters:
- Position Size: Adjust the size to match your account balance (e.g., scale down to 10% of the whale’s position).
- Leverage: Match the whale’s leverage or set a safer level (e.g., 5x instead of 10x) - settings.
- Stop-Loss/Take-Profit: Optionally set these to manage risk.
- Confirm your settings and click “Copy Trade.”
Monitor Copied Trades- Once copied, the trade will appear in your “Copy Trader” section under “CopyTrades.”
- By clicking the "x" you can close the trade any time with one button.
- Check the trade’s progress, including your own PnL, in real-time (and also on Bybit or Hyperliquid).
Examples of How Copy Trader Can Improve Your ROI
- Example 1: You copy the HYPE Long position (105152.09 HYPE, +$551.36 PnL). If the price continues to rise, you could see proportional gains based on your copied position size.
- Example 2: On the Free Plan, you copy a BTC Short position (30 BTC, +$2,000.03 PnL). By mirroring this trade, you capitalize on the downward movement, earning a profit as the price drops.
Tips for Success
- Start Small: Copy trades with a smaller position size to test the feature and manage risk.
- Upgrade for More Pairs: The Free Plan limits you to BTC and ETH. Upgrade to Premium to copy trades like SOL or HYPE, which may offer more opportunities.
- Monitor Market Sentiment: The screenshot shows a -25% bearish sentiment, so Short positions (like the BTC Short with +$2,000.03) might be safer to copy in this market.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article