Covesting is a copy trading platform that allows newcomers to learn from the experience of successful strategy managers via a completely transparent global leaderboard system. Covesting, a Europe-based, DLT-licensed, and regulated software company built the module, which was distributed on the award-winning PrimeXBT as part of an ongoing B2B cooperation.
Covesting is a peer-to-peer copy trading module created by the same-named DLT-licensed developer, who has teamed with PrimeXBT, an award-winning margin trading community, where the tool is now exclusively available.
The copy trading community connects followers with strategy managers, who are ranked using risk and success criteria, as well as total earnings, in a transparent manner. This information must be used by followers to locate any diamonds in the rough. Because of their greater visibility, strategy managers with the best metrics ascend in the ranks and gain more followers.
It’s the consistency that counts, with a win-to-loss ratio of more than 80%. This trader isn’t simply placing one massive trade and walking away. Instead, there is evidence of a busy trader who has a few red days now and again, but the green days more than compensate. Any risk management method that entails two steps is ineffective.
Learn how to make the strategies: Strategy managers frequently start strong, climb up the ranks, and then crash and burn. Chanel, on the other hand, is a completely different breed. This trader manages their margins carefully, virtually always keeping their account above 70 to 80 percent margin allocation. The trader only used his margin to safeguard positions for a little period, and the outcomes were ultimately beneficial, as their earnings continued to rise.
The trader’s maximum drawdown, according to Covesting’s fully public measures, was slightly over 70%. However, the last seven days of profitability almost cover that loss, and the prior month’s total profitability left plenty of profit for booking.
Monopolize Profits: The Covesting module allows strategy managers who can consistently generate winning methods in the cryptocurrency market to swiftly and simply secure investment and maximize the profitability of their trading techniques.
This is especially beneficial to bitcoin traders who can consistently build winning strategies but do not currently have the wealth to monopolize them, as covering can connect strategy managers directly to a variety of investors.
Hand freeway: Covesting is also suitable for a wide range of traders who want to be able to share the same ROIs as the best-performing traders but without the stress of constantly monitoring the charts and placing trades, as well as those who want to access the cryptocurrency market without having to use their hands.
Using mirror trading: Mirror trading is a strategy in which one trader copies another trader’s trading approach and mirrors the trades into their account.
You’re copying an expert rather than working with someone else, but it’s still a great approach for new traders and the person they’re learning from to learn and progress. Mirror trading is commonly employed by novice and inexperienced traders, as well as those who do not have the time to monitor the markets.
Covesting on PrimeXBT is a new and unique technique for traders to lower their risk while dealing with the cryptocurrency market while also gaining access to expert traders’ experience and market knowledge to maximize possible profit.
While coinvesting has grown in popularity since its inception in 2017, the recent partnership between Covesting.io and PrimeXBT to develop the platform’s Covesting module has seen the leading crypto margin trading community, which manages $2 billion worth of global trade every day, enter the world of crypto social trading as well.
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