Testnet

Following and copying trades

Follow public wallets, get told when they trade, and copy a trade only after you review it.

6 minLesson 1 of 42 questions at the end

Key ideas

  1. 1Follow up to 10 public Hyperliquid wallets. Your bot tells you when they open, add, reduce or close.
  2. 2Copying is never automatic: each copy is a prefilled order you review and confirm, with your own size and leverage.
  3. 3You choose how big copies are (a fixed size, or a share of your account as margin) and how far the price may have moved since their trade.
  4. 4A copy can only be sent while it is fresh: within 10 minutes of their trade, and while the price is still close to theirs.

Following a wallet

Every Hyperliquid account is public. In Wallets you can look up any address, see its positions and history, and follow up to 10. Your bot tells you when a wallet you follow opens, adds, reduces or closes: every trade, only opens, or nothing, as you choose per wallet.

Copying, with review

From their trade to yours
  1. 1
    They trade
    A wallet you follow opens or adds to a position.
  2. 2
    You hear about it
    Your bot sends the alert, with a Copy button where the trade can be copied.
  3. 3
    You review a prefilled order
    Sized by your own copy settings, at your own leverage, with how far the price has moved since their trade.
  4. 4
    You confirm, or don’t
    Nothing is sent until you confirm it, even with one-tap trading on.

Your copy settings

  • Size: a fixed position size, or a share of your account value as margin (1%, 2%, 5% or 10%), with the most leverage a copy may use.
  • Largest price gap: how far the price may have moved from their fill (0.5% to 5%, 1% to start). Past it, the copy can’t be sent.
  • Take profit and stop loss: your own presets, or none.
  • Fresh copies only: within 10 minutes of their trade. Only opening, adding and flipping can be copied.

Judging a wallet

Worth looking at
  • Months of history, not days
  • Losses kept small
  • Leverage you would use yourself
Warning signs
  • One huge win and little else
  • Very high leverage
  • No stops, losses left to run

Common mistakes

  • Copying a wallet because of one big week. A short record says little.
  • Copying at their leverage with your smaller account. Size copies for your own risk.
  • Copying late. If the price has run away from their entry, your trade is a different trade.
  • Assuming they set a stop. Check, and add your own.

Check yourself

Question 1 of 2

A wallet you follow opens a long. What does Lance do?

Try it in Lance

Look up any public wallet, see its positions and history, and follow it.

Find wallets to follow
Up nextLesson 2 of 4Price alertsA Telegram message when a market reaches your price, so you don’t have to watch the chart.Next lesson
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Lance Learn is education, not advice. Examples use made-up or rounded numbers and say so; nothing here tells you what to trade.

Trading perpetual futures with leverage is high risk. Prices can move fast and you can lose all the money you put in. Lance is software: it does not give investment advice, manage money or trade on anyone’s behalf. Trades are executed on Hyperliquid, a third-party exchange that is not affiliated with Lance. Lance is not available to persons in the United States, the United Kingdom and sanctioned countries.