Contract Copy Trading is an investment strategy that allows investors to achieve similar trading operations by copying the trading orders of other traders (also known as signal providers).
In contract tracking, investors can choose to follow and automatically copy the trading behavior of signal providers. When the signal provider executes a transaction, the tracking account will automatically copy the same transaction, including transaction type, buying and selling direction, transaction quantity, etc. In this way, the tracker does not need to conduct market analysis and trading decisions separately, but relies on the trading strategies and operations of the signal provider
The development of a contract tracking system involves the following steps and details:
- Determine requirements: Clarify the functional requirements of the contract tracking system, including tracking methods, signal provider selection, transaction types, handling fees, etc.
- Technology selection: Select a technology stack suitable for the development of contract tracking systems, such as programming languages, backend frameworks, databases, etc.
- Design System Architecture: Design the overall architecture of the contract tracking system, including the organization and interaction of front-end interfaces, back-end services, data storage, and other modules.
- User registration and authentication: Develop functions such as user registration, login, and account authentication to ensure the security and traceability of user identities.
- Signal provider management: Implement the registration, authentication, and performance recording of signal providers, ensuring the reliability of effective signal sources and signal providers.
- Tracking configuration and transaction parameter settings: Develop a tracking configuration page that allows trackers to select signal providers, set tracking ratios, risk control parameters, etc.
- Tracking algorithm and transaction replication logic: Implement tracking algorithm to ensure accurate replication of signal provider transactions, including transaction variety, number of hands, stop loss/stop gain, etc.
- Position synchronization and transaction execution: Ensure that the position of the tracker is synchronized with the position of the signal provider, and automatically execute the corresponding tracking transaction when the signal provider executes the transaction.
- Tracking History and Performance Statistics: Record and display the historical tracking records of the tracker, and calculate and display performance indicators such as yield, victory rate, etc.
- Real time data transmission and message notification: Establish a real-time data transmission mechanism to ensure timely transmission of signals and real-time transaction execution by traders, while providing message notifications of transaction status and risk warnings.
- Risk management and stop loss function: Develop a risk management module, including tracking stop loss mechanisms, risk control warnings, etc., to protect traders from potential risks.
- System security and data protection: Strengthen the security of the system, including data transmission encryption, user identity authentication and authorization, and business data privacy protection.
- Unit testing and system testing: Write and execute unit tests to ensure the normal functioning of each module in the system, and conduct system level functional and performance testing.
- Deployment and Release: Deploy the contract tracking system to the production environment, configure appropriate servers and network facilities, and ensure system availability and stability.
- Monitoring and Maintenance: Implement system monitoring and operation maintenance, regularly conduct system performance analysis and maintenance, and promptly address potential issues.
- User Support and Feedback Collection: Provide user support channels, receive user feedback, and update and improve the system according to needs.
The main advantage of contract tracking is that it allows followers to fully utilize the trading strategies and skills of more experienced or successful traders, reducing the risk of their own trading decisions. At the same time, tracking also has convenience, as the tracker does not need to delve into the market, but can directly follow the trading behavior of the signal provider, saving time and energy.
