How to cancel an order in copy trading mode?
How to manage Copy Trading transactions
Once you have subscribed to a preferred trader and set your limits, all your trader’s orders become available for viewing.
- If you haven’t selected a trader yet, please read here about how to choose the right trader.
- If you have picked a trader to follow but haven’t subscribed to him, feel free to check here how to do it.
- If you have selected your preferred trader and subscribed to him but don’t know how to activate and set up Copy Trading, check here.
Now, you can track all the trader’s orders. To do so, open the trader’s profile, and there, you can see the trader’s statistics: risk level, PnL, ROI, accuracy, maximum drawdown, Sharpe ratio, and Sortino ratio, among others.
To check your open orders, move to the Trading terminal, click on Spot trading, and find the Open orders tab. There, you can view your orders, including copied orders, and manage them. If you want to check Futures orders, instead of the Spot trading tab, click on the Futures trading tab. There, right below the graph, you can see the Open orders tab, where you can view and manage all your open Futures orders.
The status of each order in your account (the left column):
- If you see the warning Copy Trading is not connected, it means that the service is not connected or not set up.
- If the Missed status is displayed, it means one of the following:
- Insufficient balance on your account on the connected exchange;
- The set amount on the Take Profit/Stop Loss is lower than the balance permitted by the exchange. This error occurs when Take Profit and Stop Loss step targets are lower than the minimum permitted for a transaction on the connected exchange platform;
- You have reached the total order amount you have set.
- The Error status means that an error occurred when the order was being processed. To find out about the error details, hover the mouse over the status. If the reason for the error is not indicated, or if the error continues to occur, please get in touch with us by sending an email to support@bidsbee.com, or contact us via our Help Center.
- The In progress status means that the order was copied and is in the process of completion.
- The Completed status means that the order was copied and closed.
To stop copying orders, move to your Copy trading section, pick the trader whose orders you want to stop copying, and click the Stop Limit button. You can stop copying the orders of a selected trader at any time. However, this action will stop copying new orders only, while all orders copied earlier will be completed.
To cancel an active order, move to the Trading Terminal tab, click on Spot trading or Futures trading, depending on the order type you want to cancel, move to Open orders, pick the order you want to cancel, and proceed with the cancellation by clicking on the X button.
Note, please, that using the Copy Trading functionality doesn’t guarantee a constant flow of income. To maximize the income from your trading activities, it is important to select the right trader.