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My friends and I are all trying to find a passive income model.
After all, my main job is busy enough, monitoring the market is time-consuming and labor-intensive, and I went to try one-click copy trading, watching a top trader with a 90% win rate, but after a few months, the trader is still there, while my account was wiped out to zero.
Because the copy trading expert might have a principal of 10 million USD, accustomed to wide stop-losses, and sometimes in extreme market conditions, they choose not to set a stop-loss and just hold on.
But if you only have 1,000 USD and add leverage, a 10% drawdown could be a catastrophe for you.
Munger always emphasized a common sense: if I know where I will die, I will never go to that place.
Bitget Exchange has finally started to realize this pain point and has made changes.
I looked at the newly launched copy trading risk control parameters upgrade on Bitget CFD, and now the system has added independent take-profit and stop-loss settings.
You can set an absolute loss limit for yourself, for example, no matter how the top trader operates, as soon as the loss reaches 50 USDT, the system immediately disconnects and automatically closes the position at market price.
The top trader is willing to hold on no matter what—that's their business. You not only preserve your principal but also get to sit back and watch the show with a cup of tea.
In this market, no one is responsible for your principal except yourself.
Always remember, strategies can be copied, but risk control must be completely independent.
Living, and living comfortably, is the most important thing in this trading business!