1.How to be a Principal Trader
1.1 Steps Of Application-web
(a) Visit Million.com official website, click "Derivatives"and choose "Copy Trading"
(b) Click "Becoming a Principal Trader" button
(c)Carefully read "Agreement of copy trading user" and then agree it if you're totally aware of it
(d) Fill out the form and submit.
(e) Wait for approval.
We will review and respond to your application within 3 working days.
Notice: Do not follow other traders when you are applying to become a trader
1.2 Steps Of Application-app
（a）Fill out the form and submit.
1.3 Important Notice
(a) The current account of applier has no copy trading positions.
(b) The applier is not following any other Principal Traders.
(c) According to traders' risk control standards, the number of daily trading transactions per account should be less than 150 times (each opening or closing position counts as 1 transaction), referring to the number of orders placed for opening or closing positions and executed, rather than the number of executed trades recorded.
High-frequency opening and closing of positions (regardless of limit or market price); market making, API trading, simultaneous long and short positions, and other volume manipulation behaviors will be considered invalid trades and not counted toward trading volume. Self-trading, batch ult accounts trading, and matched trading will be considered cheating and result in disqualification.
2.Assets Transference
There are currently two ways:
(a)"Trades" ——> "principal trader account" ——> " Transfer"
(b)Also, you can transfer asset on the "Copy Trading Settings" page.
3.Copy Trading Setting
Copy trading home page—click"initiate trade" — choose"copy trading " upon right —Set the trading parameters——click"initiate trade"
(a) Click "initiate trade" on the "User Center (Principal Trader)" or on User Center (Principal Trader) page
(b) Double Confirm the information in the popup window and click "OK"
(c) Check the detailed of your position under "Current Trades"
4.Positions and Orders
4.1 Copy Trading Data
(a) On the "User Center (Principal Trader)" page, you can view the historical records of all copy trading trades, as shown below.
4.2 Closing Positions
On "User Center (Principal Trader)" page, click "Current Trades" and then ''close''the position you don't want
(a) Principal Traders can only close a position in the market price.
(b) Principal Traders can close positions separately or close all of them by one click in the "close all".
4.3 Cancel Unfilled Orders
Click "Open Orders" in "User Center (Principal Trader)" to check for unfilled orders. Click "Cancel Order"then "OK" to complete the cancellation
5.Shared Profits of Principal Trader
5.1Rules
Principal Traders can share 10% of followers' profits.
https://support.million.com/hc/article_attachments/31860559381017
5.2 Profit Sharing
"User Center (Principal Trader)"——"Shared Profits". Check the "Profits Shared" with followers and pnl statement.
(a) Accrued Profit Shared, Actual Profit Shared: shows the shared profits from trading by each follower (copy trading user).
(b) Accrued unsettled profit is a dynamic value.
(c) Shared profits: The profit details are only displayed for users who contribute more than 0.
5.3 FAQ
(a)Profit Distribution Conditions
1.1 Profit - Opening fee - Closing fee = Net profit > 0;
1.2 If you have no open positions, settlement will occur at settlement time.
1.3 If there are open orders, settlement will occur after automatic cancellation of open orders.
The profit share of each follower will be settled independently to the trader.
Settlement time: 0:00 (UTC+8)
For example：
A is a principal trader , B/C/D are followers , what will happen when time reaches to 0:00 (UTC+8)
Scenario 1:
- Position statement：B still hold the positions, C closed all positons before 0:00 with profit, D partially closed their positions.
- Allocation :
At this time, C is settled and allocated at 0:00, while B and D are not settled.
Set C's profit to x，x >0；A will receive a profit share of 10%*x
Scenario 2:
- Position statement：B and C closed all positions before 0:00 with profit, D still hold their positions.
- Allocation :
At this time, B and C is settled and allocated at 0:00, while D are not settled.
Set B's profit to x,Set C's profit to y, x,y >0；A will receive a profit share of 10%(x+y).
(b) Scenarios why trader didn't receive profit:
- Net profit < 0
- Positions remained open at settlement time.
(c) Reasons why only a portion of the followers opened positions after the trader:
- Available number of followers is less than the minimum required.
- Available quota in the followers' accounts is insufficient to cover the opening fees
(d) Why the trader receives profit share from users rather than followers:
Followers' positions are established by following the trader. Even if a follower cancels their follow on the trader, if the net profit is positive at the time of closing, the trader can still receive a profit share.
(e)How to share pnl screenshot
- Click the 'Share' button under "Current Trades"or " Trade History" .
(f) Stop-loss/take-profit setting:
- "Current Trades" and set the "Stop-Loss/Take-Profit".
- "market price" / "mark price" / "index price" could be set to place orders when stop-loss/take-profit is triggered
6.Checking My Following Copy Traders
Enter the "Principal Trader Profile" and click "Following Users" to check all the current following users and copy trading orders history.
-"Current Follower Hide Setting":by enabling this option, the current follower's trading pair, position direction, opening time, and opening price will be hidden from users.
-"Historical Follower Hide Setting":by enabling this option, only profitable orders will be displayed to users in historical followers.
Million.com Team
2024-4-30
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