The PrimeXBT margin trading platform has released its monthly trader’s report, where it shares the most recent performance of top traders across key categories like monthly and all-time profits, and more unique metrics like win ratios.
The month of August lived up to its summer reputation and led to some of the hottest trading performances, even during a crypto winter. PrimeXBT traders can access traditional assets in addition to Bitcoin and altcoins to stay profitable even when risk assets are trading sideways.
Here is a closer look at how top Covesting traders on PrimeXBT performed in August 2022.
What Is Covesting Copy Trading At PrimeXBT?
Covesting is a peer-to-peer copy trading community hosted exclusively at PrimeXBT. Covesting strategy managers get access to advanced PrimeXBT trading tools and more than 100 different trading instruments under one roof across forex currencies, stock indices, commodities, and crypto.
Much like taking a position in a particular asset, followers can also take a position by copying the highly-ranked strategy managers within the Covesting leaderboards. Once following, all trades will automatically be copied, profiting when these skilled traders do and earning without all the heavy lifting. Strategy managers make a profit share from their follower’s successful trades.
Copy trading is just one piece of the Covesting ecosystem which includes yield accounts and the native COV token, which can be used to unlock COV token memberships. Premium, Advanced, and Elite COV token memberships can improve the profit share for followers and lower trading fees for strategy managers, and much more.
Summary: PrimeXBT August 2022 Monthly Traders Report
August was another exciting month in the Covesting leaderboards, where competition is always the theme. The month includes the return of some familiar names, while several newcomers have made impressive returns and show promise for followers to consider.
The PrimeXBT monthly traders report looks at the following metrics:
- All-time profits
- Monthly profits
- Monthly profits among newcomers (new registration during the same month)
- The highest win ratio
In terms of all-time profits, trader Citadel Two tops the list with a shocking 4,028%. Blitzkrieg Fund and Waz each have more than 1000% ROI, while Bitenergy and Time M are right below the 1,000% mark with 946% and 888%, respectively. Both Citadel Two and Blitzkrieg Fund managed to earn five stars while maintaining such a massive ROI.
Monthly profits during a month where markets moved mostly sideways are impressive in their own right. However, the top trader for August was able to pull in a staggering 109% ROI. The second-ranked all-time profitable trader is also in second place in monthly profits – Blitzkrieg Fund – with 90% ROI. IntraDayStrat posted 76% ROI for the month, while the all-time most profitable trader – Citadel Two – was right behind, adding 71% for the month of August. Last but not least, RKCapital had more than 62% ROI in August.
For newcomers, the returns were even more impressive than the veterans. But only time will tell if they have the staying power necessary to remain in the top ranks. The top-ranked newcomer for August was SeniorQuantX, with 965% ROI in only 19 days active. Grander posted 458% returns for the month, while Dalio had 368%. Rounding out the list for August are Scalp N01 and OG Profit, who each had above 200% ROI with 237% and 228%, respectively.
A whopping five traders had a 100% win ratio, one of which maintained such a rate across 43 closed orders. The top trader, Al Algorithm, had 42% in monthly profit for August. DIPBUYER brought in 33% ROI. Carnage, OMG Yeahhhh, and ac btc and eth each kept the 100% win rate for August by playing it safe while struggling with overall ROI. But remember, the most successful traders focus on risk management, not huge wins.
Copy Top Traders Today With PrimeXBT And Covesting
The best part about Covesting is that anyone at any time can become a follower and start copying the trades of any traders listed above. While the crypto market is crumbling and stocks are tumbling, traders can still rely on the performance of skilled traders who rank highly in the Covesting leaderboards.
Covesting traders are armed with professional PrimeXBT trading tools and a massive list of the hottest global markets, including oil, natural gas, gold, the S&P 500, and a wide range of cryptocurrencies. Traders can also manage their portfolios and Covesting positions while on the go using the PrimeXBT mobile app. Download today, or visit the official PrimeXBT margin trading platform to check out the Covesting copy trading module.