A few copy trading updates for you this week.
First off, MEXC has increased their minimum investment (per lead trader you copy) to $50, from $30.
That’s annoying because it increases the cost of testing new traders, though the converse is that a wrong decision is less likely to wipe that trader out (see below).
On top of that, I recently discovered that lead traders can use something called “follower synch”. This forces all their followers to have the same Smart Ratio settings. As far as I can tell, anyway: I contacted support when I got smacked with it on the only trader I follow, but no one seems to have any real details of it. There’s no web page describing it, zero available information, and support only said “You cannot switch to Fixed Amount or other copy modes while this setting is active. However, you can still adjust certain parameters — such as the minimum copy amount, risk limit, and allocation — within the Smart Ratio mode.” They don’t seem to know any more about it than I learned from trying to click things.
I’m dubious about the whole setup. And it annoys me.
I was following my lead trader on Fixed Amount, which allowed me to set my risk levels: 0.1% per trade, 1%, whatever I wanted. Now he’s set “follower synch”, I’m forced to use Smart Ratio. That’s safer, of course, and it means I won’t go bankrupt unless he does (very unlikely!), but it takes away a level of control that I liked. I’m no longer copy trading, I’m subscribing to managed trades.
I’ll put up with it, of course, because he makes money. 🙂
I also discovered that the MEXC system remembers which positions you close manually. I’d been following my lead trader and occasionally taking a good profit before he closed it. I’d noticed he sometimes missed a nice peak, so I’d take it. Then I’d wait for a dip, unfollow the trader and re-follow them on Smart Ratio, marking the box to copy open positions, which put their current positions back in place at the new prices from when I re-followed. That doesn’t work any more: the closed position doesn’t get copied because the system considers my copy of it closed. Very annoying. I’d been making a nice little extra bit from all the sideways movement, but now have to wait for the lead to close. Another piece of control lost, another reason to see it as managed trades.
That also happens when only unfollowing the trader, which closes the positions automatically rather than doing a manual close. Or at least it seems to, though I get a “failed copy trade” email, which suggests the system cracked again (it does that a lot, especially if you follow a lot of traders like I do for testing).
As I mentioned on Sunday, a couple of the traders I’m testing right now screwed up with PEPE. Oddly enough, only one of them crashed and burned – not both, as I thought – because the same price change had a bigger effect on a smaller copy trading equity, despite using Smart Ratio for everything on both. I have no idea why: Smart Ratio should mean they both bombed. Perhaps it’s the Superman III thing, where all the tiny bits of pennies add up to make a difference? I don’t know, but it does mean one of those two traders (with $100 in testing, instead of $50, because they’d been doing well) managed to survive and continues testing.
The one who didn’t survive was Romb (5928679). As I say, they may have survived if there’d been more funds. I don’t know. They do have the “High stress tolerance” tag, which is one of the best additions MEXC has made to their copy trading setup recently… alongside the worst of adding AI everywhere.
I think that’s everything I noticed in the recent changes. For me, the only real impact is being forced onto Smart Ratio for my reliable trader, and I can live with that!
How’s your copy trading going? Making a nice profit? Tell me!
