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Covesting Copy Trading On PrimeXBT: Others Work, You Earn

Wed, 05/18/2022 - 17:58
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Kim Chua
Novel copy-trading module by Covesting is set to advance trading experience of PrimeXBT users
Covesting Copy Trading On PrimeXBT: Others Work, You Earn
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The last year or more across global markets has taught some hard lessons to newcomers that it isn’t easy to invest or trade without a proper plan or strategy. Buying or going long when assets are trending is a great way to get stuck holding at a loss if you don’t know where or when to hit the sell button. And the most profitable strategy yet is not only to profit from the way up but be ready to short the reversal back down.

The exact timeframe also taught us that even the best-prepared traders and investors can still have a tough time surviving sideways consolidation. It takes arduous work, skill, dedication, and years of experience to excel and stay profitable during volatility like we’ve witnessed recently. 

The Covesting copy trading module on PrimeXBT provides transparent data regarding the strategy managers within the community on its leaderboards. Even with the total collapse in the stock market, precious metals, and cryptocurrencies in recent days, these strategy managers have maintained as much as 5,700% ROI. 

Using the tool, you can put these strategy managers to work for you while you sit back and earn. Here is how.

Once In A Lifetime Environment For Unprecedented Volatility 

Markets are notoriously unforgiving, designed to take capital from the weak, impatient, and emotional and give it to those with diamond hands and razor-sharp mental focus. There is a reason those most successful at investing and trading are often considered whales or sharks – they are the most dominant during a feeding frenzy in a sea of wealth.

Newcomers who began investing or trading during the pandemic and even hardened vets with decades of experience have been chopped to bits in recent months. The Fed threatening to stifle markets with rate hikes, war breaking out across the globe, record inflation, and other events have made for the most volatile environment in some time.

When risk is this high, so is the opportunity for reward. Volatility is necessary for the price swings that traders and investors take advantage of. A select few traders are able to do so during such unprecedented times and market turbulence. Those traders have found a home within the Covesting copy trading module on PrimeXBT. Even better, there is proof of their success and a way to follow their lead to make money from global markets.

Copy Trading Lets Experts Do The Hard Work While You Earn

The Covesting copy trading module is a peer-to-peer copy trading community at PrimeXBT. The community is centered around a leaderboard system that automatically tracks the performance of all strategy managers and their individual trades. Strategy managers are ranked by ROI for all to see. Clicking on any individual strategy brings up additional performance data, including a look at margin usage, profitability, days using the platform, and more.

Followers use this data to formulate a decision and choose which strategies to follow. Much like investors or traders would spread risk around several assets, followers can lower risk and increase the chances for profits by building a portfolio of various strategies. Followers also get stop-loss and take profit tools, and can close out a following at any time to free up capital for other opportunities.

Covesting strategy managers gain access to the same margin trading tools and wide range of trading instruments offered by PrimeXBT. Using these tools, strategy managers have achieved up to 90,000% ROI and made a fortune for their followers. Followers were able to sit back, let others do the work, yet still earn from this once-in-a-lifetime volatility in markets.

What Else To Expect At PrimeXBT?

The Covesting copy trading module is available exclusively at the award-winning margin trading platform PrimeXBT. The rapidly growing platform offers access to stock indices, crypto, commodities, and forex currencies, all under one roof using a single trading account. The same account can be used to set up a strategy manager or follower account within the Covesting ecosystem. The Covesting ecosystem on PrimeXBT also includes APY-generating yield accounts that connect to top DeFi platforms and COV utility token memberships.

PrimeXBT provides all the necessary tools that traders need to become successful. And when you can’t do it yourself, there is always Covesting. Long and short positions let traders profit from both directions that volatility sends prices, and stop-loss protection keeps losses to a minimum when they ultimately occur. Built-in technical analysis tools help to minimize risk further and maximize profitability. Traders can even jumpstart their trading careers using the PrimeXBT Trading Academy educational website. 

Beyond the full suite of tools discussed above, there is still plenty left under the hood at PrimeXBT you have to experience for yourself. Whether it is passive investing and trading through yield accounts or copy trading or actively taking the lead in margin trading yourself, there is something for all types of traders. Join now!

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About the author

Kim Chua is an institutional trading specialist with a track record of success that extends across leading banks including Deutsche Bank, China Merchants Bank, and more. Chua later launched a hedge fund that consistently achieved triple-digit returns for seven years. Chua is also an educator at heart who developed her own proprietary trading curriculum to pass her knowledge down to a new generation of analysts. Kim Chua actively follows both traditional and cryptocurrency markets closely and is eager to find future investment and trading opportunities as the two vastly different asset classes begin to converge.