The 5 Best Covid Copy Trading Strategies: Ranked by ROI, Security, and More
The Coversing copy trading module on PrimeXBT puts a variety of experienced traders under one roof with subscribers looking to learn, copy and profit from others who have a better skill set, more expertise and a higher chance of success.
Everyone’s needs, risk appetite and profit goals are different and unique. Deciding who to follow is best suited for those specific traits requires a bit of tinkering, which is possible thanks to the Covesting ratings filtering system.
Here’s a closer look at the different ways you can filter down a top 5 traders list based on a number of valuable factors.
Take advantage of the ranking filters of the Covesting module
The Covesting copy trading module puts experienced traders dubbed strategy managers in the same arena with followers who can put capital behind each strategy and copy their trades. The synergistic formula creates alternative revenue streams for skilled traders who open strategy manager accounts while allowing less experienced traders to copy and learn from others.
New traders usually lose capital when they start. Covet the copy trade can eliminate this phase by putting money behind the right traders. At the center of the experience are the Covesting Leaderboards, where all strategists are ranked by ROI and performance metrics are contained.
Subscribers can click on each individual strategy to learn more before following. There is also a favorites list where traders can basically bookmark the best strategies they want to watch. Additionally, there is an advanced filtering system allowing subscribers to focus on specific needs or goals, such as a safer or more profitable strategy.
Coveted traders ranked by ROI (default setting)
By default, covesting policy makers are ranked by ROI. The image above is a recent snapshot of the Covesting Leaderboards Competitiveness. Today’s top trader has an ROI of over 5,700%, even during the recent market downturn and volatility. This alone shows that there is a natural talent in these rankings, able to navigate any type of market environment with finesse and skill.
Covesting leaderboards allow subscribers to examine margin allocation, win/loss ratios, active days and more. There are tools included to allow followers to look at certain time periods to gauge performance under specific conditions like a bear market. The data is made extremely clear and the development teams are continuously improving the visualization of the graphs.
Security-Rated Traders (Five-Star System)
By configuring the Covesting ranking filter to rank traders based on the number of stars they have obtained, the system goes from a KING ranking tool to one that places more importance on security. Slow and steady often wins the race in the end. Five-star traders may have less ROI to show, but clearly have excellent skills.
To earn five stars, certain feats must be completed to show the strategist has chops. Specific levels of margin allocation must be maintained or certain turnover thresholds must be met, for example. These traders need to be on the winning side of the trade much more often, allowing for nothing less than a 60/40 win/loss ratio. The five-star system also eliminates traders who simply got lucky with a big bet.
Who has the most followers? (Most Popular Trader)
You can also tell a lot about a strategy director based on their popularity. If a marketer has a large following, there might be more. The next big traders are often social media influencers, hedge fund managers, or other elite traders behind the screen names. Because these elites have a built-in audience, they can continually grow their follower count beyond the rest.
The bigger the follow-up, the more lucrative it is for the strategy manager. The more profitable it is for a strategy manager, the more engaged they will be with their strategy, positions and followers. It’s a win-win situation for everyone involved. The most popular traders are also often the best, so consider filtering by total number of followers to find smart money types with a large following and a lot of capital.
Ranking of traders by currency type (portfolio diversification)
Subscribers are always encouraged to diversify their trading portfolios. Subscribers can do this by following several strategies using a variety of filters. Performance, popularity or even star filters also include the ability to search for strategies denominated in different cryptocurrencies.
PrimeXBT offers margin accounts in BTC, ETH, USDT, USDC, and COV. The platform also allows you buy crypto if you don’t have it. Since the trading platform relies on these types of currencies for account margin, this is also what is used for Strategy Manager margin accounts. Different types of traders rely on different cryptocurrencies for unique reasons. For example, USDT or USDC denominated strategies don’t have to deal with the downside or volatility associated with account collateral and might be something subscribers want to consider.
Choose from the best traders today with PrimeXBT
The flexibility and depth of the Covesting copy trading filter system allows traders to extract all the value they can from the module. With strategy managers earning up to 90,000% in the past, finding the right trader early can be like finding a diamond in the rough.
Anyone can sign up and become a strategy manager. This all-inclusive system weeds out underperforming traders because the leaderboards and filters, when used correctly, will leave them behind to focus on the winners. Subscribers have a long list of successful traders to choose from, so check out Covet on PrimeXBT today to make your choice.
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