# Choose a Leader

> Keep the trader we suggest for your exposure level, or paste the Hyperliquid address of the trader you want to copy, and check their last 90 or 30 days before you commit.

Your **leader** is the Hyperliquid trader whose trades are copied onto your account. Start with one or two; you can add more later, up to 3 (or 5 on Advanced). On Risky, at least 2 are strongly recommended.

## The Suggested Trader

If you have no leader yet, **Leader address** is already filled in with a suggestion: the **most active of the #3 to #5 traders of our latest [Monthly Report](https://waketrades.com/docs/leaders/monthly-report.md)** for the exposure level you chose: the one who opened the most positions in the 30 days before the report (Advanced uses Risky's list). Never #1 or #2. A trader already suggested for a more prudent level is skipped, so each level suggests someone different. Above the field you see their win rate, profit factor, trades per month and median holding time, from the report (last 90 days).

If no Monthly Report is published yet, there is no suggestion: paste the address of the trader you want. The full Monthly Report, traders #1 to #5 for each level, comes with a plan. The report's figures stop at the end of last month: before you keep a suggestion, open the trader's page to see their positions now. Keep the suggestion, or paste another address: you can change your leader any time in your dashboard.

Positions a leader already holds when you start are never copied: only the trades they open afterwards.

## Paste the Address

1. Copy the trader's Hyperliquid address. It starts with `0x` and has 42 characters.
2. Paste it in **Leader address**, in place of the suggestion. Their last 90 days appear in a few seconds; click **30D** for the last 30 days.
3. Click **Continue**. **Back** returns to your exposure level.

![A leader's last 90 days, shown as soon as the address is pasted (demo data).](https://waketrades.com/docs/img/leader-stats.webp)

## Read the Statistics

| Figure | What it tells you |
| --- | --- |
| Account value · today | The trader's account value now, and their gain or loss on perps over the period (90 or 30 days). |
| WR / DD | Win rate and drawdown: the share of winning trades, and the largest drop of the account's returns over the period (deposits and withdrawals don't count). |
| Profit factor | Total gains divided by total losses. Above 1, the trader earned more than they lost. |
| Trades per month | How often you can expect a copy. |
| Holding time | How long a typical trade stays open (the median): minutes for a scalper, days for a swing trader. |
| Open at once | Average number of positions the leader holds at the same time. Fewer means more focused trades; more means a busier, more spread-out style. |

Below: the coins they trade most, their last trade, and the positions they hold right now. **Those open positions won't be copied**: copying starts with the trader's next new trade. Statistics are refreshed every 24 hours.

## Warnings You May See

- *“This leader hasn't opened a trade in the last 30 days.”* You can copy them, but nothing is copied until they trade.
- *“This leader's equity is down 30% or more since our last statistics.”* Check what happened before copying.
- *“This account trades a lot…”* Bots and market makers trade too often to be followed closely: many of their trades won't be copied, and your results can differ from theirs.
- *“This account exists on Hyperliquid, but we have no statistics for it yet.”* You can still copy it.
- *“We can't find a Hyperliquid account at this address.”* Check the address and try again.

## Add a Second Leader

Click **+ Add a second leader** to follow two traders from the start. If both open the same coin, the first to open takes the slot.

> [!TIP]
> You can change your leaders at any time, in Settings on the website or in the Telegram bot. See [Add, Change or Remove a Leader](https://waketrades.com/docs/leaders/manage-leaders.md).

Next step: [Sign the Trading Key](https://waketrades.com/docs/getting-started/sign-trading-key.md).