> ## Documentation Index
> Fetch the complete documentation index at: https://docs.qubit.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Core Concepts

> Understand key terms and concepts in Qubit Alpha and Hyperliquid

## Account Types

Understanding the three types of copy trading accounts supported by Qubit Alpha is crucial for choosing the best option for you.

### 1. API Wallet (API Agent Wallet)

This is the advanced method recommended by Qubit Alpha.

* **Mechanism**: Uses Hyperliquid's Agent Wallet API for trading.
* **Nature**: **Non-custodial**. You have full control over your funds.
* **Features**: Each sub-account is essentially an independent Hyperliquid trading account managed via API authorization.
* **Pros**: No high trading volume requirement to create, suitable for most users.

### 2. Hyperliquid Sub-account

Directly imports existing sub-accounts using Hyperliquid's native sub-account feature.

* **Mechanism**: Links directly to your existing Hyperliquid sub-account.
* **Nature**: **Non-custodial**.
* **Pros**: Unified fund management.
* **Cons**: Hyperliquid requires the master account to have **100,000 USDC** trading volume to create sub-accounts.

### 3. QUBIT Managed

* **Mechanism**: Accounts created and managed for you by Qubit Alpha.
* **Nature**: **Custodial**.
* **Features**: Extremely simple operation, generated with just a few clicks.
* **Cons**: Users do not hold the private keys; security depends on the platform.
* **Recommendation**: We strongly recommend the first two non-custodial options to ensure absolute asset security.

### Comparison Table

| Feature           | API Wallet (Agent)          | Hyperliquid Sub-account    | QUBIT Managed             |
| ----------------- | --------------------------- | -------------------------- | ------------------------- |
| **Type**          | Non-custodial (Recommended) | Non-custodial              | Custodial                 |
| **Fund Control**  | User Full Control           | User Full Control          | Platform Managed          |
| **Prerequisites** | No volume req               | Hyperliquid Volume (>100k) | None                      |
| **Complexity**    | Medium                      | Medium                     | Low                       |
| **Best For**      | Most Users                  | Whales / Pro Traders       | Beginners / Small Amounts |

## Key Indicators

### ROI (Return on Investment)

`ROI = (Current Value - Initial Value) / Initial Value × 100%`

### Sharpe Ratio

* **> 1**: Good
* **> 2**: Excellent
* **> 3**: Exceptional

### Max Drawdown

The maximum observed loss from a peak to a trough. Lower drawdown indicates a more robust strategy.

### Win Rate

`Win Rate = Winning Trades / Total Trades`

### Volatility

Measures the degree of variation in returns. Lower volatility means a smoother equity curve.

## Copy Trading Logic

### Multi-Dimensional Ranking System

Qubit Alpha uses a multi-dimensional scoring system to find "Smart Money":

* **Profitability**: ROI, Absolute Profit
* **Risk Control**: Drawdown Control, Sharpe Ratio
* **Stability**: Trading Frequency, Capacity

### Portfolio SL/TP

* **Mechanism**: The system monitors the net equity of the entire sub-account.
* **Trigger**: When total equity reaches your set Take Profit or Stop Loss level, the system automatically closes all positions and stops copy trading.
* **Advantage**: Effectively prevents a single "black swan" event from wiping out the entire account.