Bitcoin Forum

The market’s been in one of those indecisive zones lately. $BTC is hovering in a tight range and $XRP is still bouncing between legal updates and speculation , not the best setup for aggressive trades.

Instead of forcing entries, I started copy trading just to stay in the market without over-managing things. Been using BingX for that lately.

While on the platform, I noticed a feature called Spin to Earn. It's not a token or some staking scheme;  just a kind of activity-based reward system. You copy trade, and depending on your volume, you get “draw entries” that let you spin for things like USDT vouchers.

A few quick notes:

- First copy trade gets you extra entries (volume ≥ $10)

- Higher trading volume gives more entries (up to 5x if you hit 100k)

- You need their latest app version (4.59.0+)

- It runs until June 20

- Rewards are mostly in vouchers (USDT, trial funds, etc.)

I’m not endorsing it , just thought I’d share in case others are passively trading or using similar features. It doesn’t interfere with trades and seems to just run in the background.

Anyone else using passive strategies or reward features during this market phase?

If you don't get any entry, just wait and continue to study the market and plot your entry until you get one. Those traders you are copying are also humans like you and they can make mistakes which can be resulting to losses during what you called a boring market. If you don't see any good chance to take trade, use the period to study the market and maybe you can also check out other pairs which you might be lucky to see a pair that gives you an entry.

For those long term aspirants, this kind of market is not a new thing hence the boredom is not a concern to overcome. Probably you are talking with respect to active traders and I never prefer to be actively trading any instrument and not just cryptocurrencies. I do see lots of altcoins are range bounded which means for active traders, this type of market conditions are highly preferable to make easy profits. Even bitcoin is also into sideways market which means you can easily predict where to book profits and where to re-enter.

Instead of looking for passive income stream, you may look for other definite opportunities because most passive things are slow earning and involving lots of hassles with your social handles and in long term not paying off for your energy and time.

Copy trading isn't passive and if the trader you are copying isn't doing good, you're also going to lose just as them. The best passive strategy is to DCA and hold while the markets are boring. You don't have to be so active on this when you know what's happening. But if copy trading works well for you and this is something that you've been doing and you're used to it, there is no need for you to listen to anybody that says that copy trading is quite risky just like me. And that is because you know what you're doing and that's what is important as of this moment.

It can be passive, there are tools and situations in which you can set it to automatically copy someone. So in that case it can be considered passive. DCA can also be considered to not be passive if the platform that you are using does not have an automated system, so you have to log in each time and make the buys yourself.

I can agree that the market is very boring now and has been for a while. I liked the excitement that was happening when Trump won the election.

If you think the market is boring because tight range.
Just try 200x leverage then you will see that the tight range isn't the reason the market feels boring, it's the way you trade.
Leverage exist to facilitate trade on a tight range market. So try that out, but be careful you could empty your wallet :D.

Honestly it’s draining trying to force transactions in this kind of chop. Copy trading sounds like a reasonable method to be involved without the emotional toll of managing every move yourself and  I haven’t used BingX much but that Spin to Earn bit sounds like a fun extra especially if you’re currently trading there anyway Actually right now I’ve just been DCA’ing modest sums and watching from the sidelines. Sometimes it’s preferable to let the market breathe instead of being caught in fakeouts, so that I think passive methods are underappreciated during these quiet periods. Curious to know if others are attempting something different too.

Sometimes in periods of low volatility & what one may define as boring market action, the best thing to do is nothing. If you actively try to day trade you can get chopped to pieces in a tight range. I advocate for HODLING & doing nothing in this type of markets condition.   

If you dare to call the cryptocurrency market boring, then you would literally die of boredom if you were completely into stocks, where there is less volatility and at best you can only make twenty percent of yield from your initial investment, assuming you only get blue chip stocks and do not get into anything crazy.  :P

Also, if I were you I would be careful when comes to copy trading, it is literally relying your capital to the trading choice of other person and such trader could be a literal degenerate of the future markets risking your money with leverage and gamble with whatever money you decided to trust him with, that is not what I would call a passive strategy, but an active one and certainly a risky one depending on the trader you choose to copy.

I insist, if you thing this market is in a boring phase or position, then download an application to follow stocks from Nasdaq and see the daily variations of the most important stocks on the market. You are going to fall asleep by staring at your phone.  ;)

While it can be passive, what I am trying to explain to you is that it's still also active. Because the one that you're copying should do good. But if that trader isn't doing good and you're all in losses, is that still passive? or passive losses? Forget about all of those automatic or automated systems. If they are profitable, all of us are already doing that and there is no need for one to be poor in life but that thing is just a hype, a buzz word used to attract more referrals and people to buy those signals or convince the copiers to copy these traders.

that's a nice catch there, so i can spin to win after trading some volume when doing the copy trading then i'd look at the traders history first before jumping on it

That’s the reason why most of the investments lose their money when they are invested. Why? Because by the time they see that the market is boring, they will be relaxed by going offline instead of being active so that they will know what the market is all about. The same thing with the traders is even worse than other things, since the investment, once you’ve invested the amount of money that you can afford to lose, the next thing is to just overlook the market and wait to see what can be done in the future. But trading is not about that; you must be active by watching the markets.