Headway Copytrade for Experts: How to Turn Your Skills into Profits
Headway Copytrade offers a treasure trove of opportunities for all kinds of users. In this article, you will learn how to profit from copytrading as a trader, create a copytrading strategy, and boost your earning potential.
How Copytrade works for traders
Copytrade is a platform that helps less experienced traders follow someone with a better understanding of the financial market. They invest in a trader’s strategy and copy opened positions, earning money from profitable trades.
In return, the trader charges a commission. It is fully customizable, so traders can set up the amount on their own. This way, traders gain a new avenue of passive income: They can trade as they usually do while earning money from copytrading commissions at the same time. Note that Headway charges a 15% fee from your Copytrade earnings every month.
How to create a copytrading strategy
To become a trader in Copytrade, you need to create a copytrading strategy. In essence, a strategy is a real trading account that you connect to Copytrade. To do this, go to the Trader Area. This is the main working area of a strategy owner. Here, you can manage your existing strategies and create new ones. Click Create strategy to set up your first strategy account.
You will then be prompted to customize your strategy. Here is what you need to do:
- Select an existing account. The account must have a balance of at least $100. If none of the options satisfy this criterion, you will be asked to create a new trading account.
- Set your commission. The minimum amount you can enter is $1.
- Name your strategy. Don’t forget to give your strategy a title. Give it a unique name, so that potential investors can be able to recognize it amongst the others. You may also write a short description, briefly explaining your trading strategy and what instruments you plan to trade.
- Add a cover image. You can upload a unique illustration as your strategy cover. You can skip this step; then, your strategy cover will be one of the five default pictures uploaded into our system.
Once you fill out all the fields, click Create strategy.
How to manage your strategies
After creating a strategy, you will unlock new options in the Trader Area:
- Preview. If you want to browse the statistics of one strategy, click the Preview button next to its name.
- Share. To share your strategy link, click the Share button next to the strategy name in the Trader Area. Even non-registered users will be able to view your strategy, which can help you attract even more potential investors. If you are a member of our IB program, you will also receive a commission from all clients who sign up to Headway using your strategy link.
- Edit. This option allows you to make changes to the following strategy settings: commission, strategy name, description, and cover. You cannot change the trading account connected to your strategy.
- Unpublish. Click this icon to remove your strategy entirely. Note that to unpublish your strategy, you must close all active trades.
You can also browse the financial history and statistics of your strategies. After you publish the strategy, its trading statistics become available to the public. It is important to start trading as soon as possible to make your strategy more appealing to investors.
The number of investors following your strategy also becomes public. If an investor finds your strategy helpful, they can leave a Like. These are important parameters as other investors tend to trust traders with active followers more.
How does the copytrading commission work?
The copytrading commission is the main source of income for a strategy owner. It is charged from your investors every month. If the commission is charged at the beginning of the month, you will receive it on the first day of the following one.
The commission is a customizable setting, meaning that you are free to set up any commission you want. However, there are some rules that traders need to be aware of before they make any adjustments to their commission:
- if an investor starts following your strategy in the middle of the month, they are charged only a portion of the commission that covers the remaining days;
- if you change your commission, investors who joined before the change will continue paying the previously agreed amount;
- if investors stop following your strategy, you will still receive the full monthly commission. However, if you unpublish your strategy on your own accord, the money for the remaining days of the paid period will be refunded to your followers.
To change your commission, go to your Trader Area and click on the pencil (✏️) icon. You can enter any amount you want, provided it is more than $1. But remember: the higher your commission, the less likely investors will follow your strategy. So a $5 commission will be far more popular than a $50 one.
How much can you make as a strategy owner?
Copytrade traders make their money from a monthly commission. So, if your commission is set to $10 and you have 20 followers, your monthly earnings will be $10 * 20 – 15% = $170.
If you decide to change your commission to $15, your existing investors will continue paying $10. But if you get, say, ten new followers after that, your Copytrade will amount to $10 * 20 + $15 * 10 – 15% = $297.5.
However, if you unpublish your strategy in the middle of the month, the remaining days will be deducted from your final earnings: $297.5 / 2 = $148.75.
Start your copytrading journey now!
With Copytrade, you can earn additional income by allowing others to copy your trades. So go ahead and create your own copytrading strategy. Start now →
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