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Getting Started - Lead Trader

Shuya
  • Updated on

Social Trading on WOO X is an innovative feature that enables users to copy the real-time trades of experienced traders, also known as Lead Traders.


Lead Traders are highly experienced traders who share their trading strategies with the community, earning additional income through profit-sharing schemes.

 

Additionally, Social Trading allows Lead Traders to showcase their trading skills and decision-making expertise under a broad range of market conditions. The exposure on the platform enhances their professional reputation and credibility while enabling them to unlock extra rewards from ongoing campaigns and earn a share of profits from users who copy their trades.

 

How does Social Trading work?

WOO X aims to create a fair, transparent, and healthy profit-sharing community.

 

A Lead Trader who is already profitable from their regular trading can now earn even more by openly sharing their strategy with the community, benefiting from an industry-leading profit share ratio as high as 50%, and up to 1,000 copy seats per Lead Trader strategy.

 

Lead Traders can customize their profile description, link their social media accounts, and modify their profile sharing settings to attract more Copiers.

 

Who can be a Lead Trader?

At WOO X, Lead Traders are specially curated and verified by our dedicated team. If you are interested in becoming a Lead Trader, please find more information available on our Lead Trader page, or contact our Customer Support. 

 

※ Note: Users cannot be both Lead Traders and Copiers at the same time.

 

How to manage the Lead Trader strategy profile?

Profile description

After successfully applying to become a Lead Trader, you will be able to access the Social Trading dashboard from the home page of the WOO X mobile app.

 

Click on the pencil icon to submit an edit request. After you’ve made your edits and submitted, your edit request will be sent for manual review. Please allow 1-2 working days for the review to be completed.

 

How does profit sharing work?

Profit sharing on WOO X Social Trading is designed to be mutually beneficial. This means Lead Traders earn more when their Copiers successfully earn profits based on the Lead Trader’s strategy.

All profits from the Copiers are counted towards profit sharing, whether the Copier is copying or countering your strategies.

 

High watermark mechanism

WOO X Social Trading employs a high-water mark mechanism in determining the amount of profit that is shared.

 

The “High-water mark” refers to the highest total profits* gained within the Copier’s Social Trading portfolio at each time of settlement. After the profits from the Copier have been shared with the Lead Traders, WOO X continues to record the portfolio’s highest total profits gained as the high-water mark. During the next settlement period, Copiers will only share profits** with the Lead Trader if their total profit has exceeded the previous high-water marks.

 

*Total profits = Portfolio value + withdrawals - deposits + previous profit share amount
**Profit share amount = (Current total profit - previous high-water mark) * profit share ratio



Example:
A Copier starts with a 100 USDT investment in a Lead Trader strategy, and the Lead Trader’s profit share ratio for that strategy is set at 10%.

 

During the first profit sharing settlement period, the Copier’s balance in the strategy has increased to 300 USDT, recording the high-water mark as 200 USDT. As it is the first settlement, the previous high-water mark will be 0 USDT. The Lead Trader will gain a profit share of 10% from the current total profit: (200 - 0) * 10% = 20 USDT, and the copy balance will then become 280 USDT after the settlement has been completed.

 

During the second settlement, the Copier’s balance drops to 100 USDT, recording the total profits as 20 USDT. Since the current total profit is lower than the previous recorded high-water mark, no further profits will be shared with the Lead Trader.

 

During the third settlement, the Copier’s balance has increased to 180 USDT, recording the current total profit as 100 USDT. Since 100 USDT is still lower than the previous high-water mark of 200 USDT recorded in the first settlement, no further profits will be shared with the Lead Trader.

 

During the fourth settlement, the Copier’s current balance has increased to 380 USDT, recording the current total profit as 300 USDT. The Lead Trader will gain additional profit sharing, since the high-water mark of 300 USDT is now higher than the previously recorded high-water mark of 200 USDT.The formula to calculate the amount of profits shared will be:

  • (current total profit - previous high-water mark) * profit share ratio = (300 - 200) * 10% = 10 USDT

After the settlement, the high-water mark will be updated to 300 USDT, and the Copier’s balance will become 370 USDT.

 

When does the profit sharing settlement occur?

Regular profit sharing settlement occurs daily at 00:00 UTC, or when Copiers stop copying.

 

What can Copiers see on the Lead Trader profile?

The Copiers are able to see various information from the Lead Trader profile, such as:

  • Profile description
  • ROI
  • PnL
  • Win rate
  • Max drawdown
  • Balance: The total amount you have per strategy
  • Copier assets: Indicates the sum invested amount of all Copiers copying this strategy.
  • Copiers: Current Copier count and total available copy seats.
  • Profit share ratio
  • Days on the platform
  • WOO Score
  • Current Copiers: each Copiers’ balance, PnL, and ROI
  • Order history
  • Sharpe ratio
  • Avg. holding
  • No. of trades
  • Trading volume


For a detailed calculation of the above metrics, please visit Related Calculations.

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