Covesting is a revolutionary new peer-to-peer copy trading platform that was recently launched on PrimeXBT after its expanded beta phase.
In both the official presentation and the beta period, traders used various methods to improve their strategy and reputation and presented their skills to the entire trading community through Covesting’s five-star rating system, which was completely transparent.
Some risk-taking traders quickly increased their ROI, while others took a slow and steady approach to safe and sound risk management. What the strategy manager ultimately decides to implement will be dynamically tested for all to see, thanks to the fully transparent Covesting rating system.
Metrics and five-star ratings provide potential followers with all the decision-making details they need to choose the right strategy for them. Here are some important tips on how to use the Covesting rating system and all the information provided to choose the ideal strategy to follow.
Watch and Learn: Study Statistics and Social Communities to Determine Winning Strategies
Those who are new to trading are usually eager to start and trade as soon as possible. Experienced traders tell novices to slow down and be patient to find the right method and choose the perfect entry point before taking positions.
Choosing a strategy right away without choosing the right weapon can quickly cost a new investor’s capital. Traders are not perfect, and even the most talented can sometimes accumulate losses. Tracking the trade from the side and seeing how traders not only react to the market, but also how they manage risk and react to losses can help identify winners.
You may also consider registering with the Covesting business community in Telegram. Here some of the platform traders discuss strategies and their thoughts on these strategies that can provide comfort and confidence before pursuing any strategy.
Prime XBTY Find Strategies With Enough Tracking and Trading Careers
Not all metrics are as straightforward as “Return on Investment” (ROI) or earnings: loss ratio for overall success. For example, strategies that involve larger follow-up and more time trading on the Covesting platform are generally more reliable and show strategy followers the way to successfully bring profits. Otherwise, followers abandon the strategy for another, more profitable manager and move their capital accordingly.