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Polymarket copy trading FAQ
Can you copy trade on Polymarket, and how?
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Yes, but Polymarket has no built-in copy trading, so a third-party tool has to watch a wallet's fills and place proportional orders. Wakeloom's first phase is paper trading only: pick a wallet, set a ratio and caps, and each time it fills we simulate a fill at the live order book and record the price gap.
How can I tell whether a Polymarket trader has steady long-term results?
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Look at a long enough window and enough resolved markets, not one big win. We use 90 days of data and check win rate, ROI, max drawdown and whether results come from a single event; wallets with too few markets or one oversized bet are left out.
Is the #1 trader on a Polymarket leaderboard worth copying?
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Not necessarily. The top spot by dollars is often one large bet that paid off, or volume inflated by wash trades and market-making hedges, which you can't replicate. Our leaderboard removes those wallets first and then ranks by long-term results, but a ranking doesn't predict the future.
Will latency and slippage make copy trading on Polymarket lose money?
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They can. By the time we see a fill and place our own order the price may have moved, and thin books give worse prices. We log the price gap on every trade, skip trades that deviate past a threshold, and measure net results after costs in paper trading first.
Does Wakeloom hold my private key?
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Phase one is paper trading only. Wakeloom never receives or custodied your private key. Wallet login only signs the nonce text returned by the API (e.g. Sign in to Wakeloom.); that signature cannot transfer funds or approve trades.
Which matters more, win rate or ROI?
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Neither alone; read them with entry price and drawdown. A high win rate bought at 90¢ can be wiped out by one loss, while a lower win rate bought cheaply can still come out ahead, so we show win rate, ROI, max drawdown and average entry price together.
What happens when the trader I follow closes a position?
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We close too. When the followed wallet reduces or exits, we reduce or exit by the same proportion, and a global stop pauses all copying at once.
Where does the data come from, and how often is it updated?
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From Polygon on-chain fills and Polymarket's public APIs; the website pages are rebuilt daily. Missing data is shown as "No data", never filled with 0, and every page states its data time in Beijing time.
Is copy trading risky? Can I lose money?
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Yes, it is risky and you can lose money. Past results don't predict future ones, traders change style or make mistakes, and latency and fees eat into results. That's why phase one is paper trading only; see the risk notice.
How is Wakeloom related to Polymarket?
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It isn't affiliated. Wakeloom is an independent analytics tool for Polymarket that only reads public on-chain and API data.