How about trading like a PRO crypto currency trader?

[Covesting]

Dear BTT community,

Imagine a venue where you could follow top crypto currency traders from around the world and profit together with them. You would be able to see previous performance of each separate trader, evaluate risk ratios and read reviews. Everything would be transparent and intuitive. Instead of analyzing the markets, you would have an easy job of analyzing the performance of real asset managers, and "hire" the one matching your risk appetite and profit goals.
You would literally have a place with combined wisdom and experience of hundreds of professional crypto currency traders at your disposal.
Hows' that sound? Would you be interested in becoming a part of such community?

[1714946454]

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[BrewMaster]

there are two huge issues with this type of things.
1. following others like a sheep and not understanding where they are going which you also follow, is not a good idea ever in anything not just in trading. you have to understand what you are doing, what they are doing so you can just see, take notes and bend their strategy to your own understanding and follow your own path.
tradingview is already a good platform that many share their views.

2. in my experience nobody really shares anything that is really valuable. and whenever "follow other traders" is involved you see their goals for sharing is to pump something so they can dump it on you.

[mk4]

If I was a "pro" trader I honestly would keep all my trade information to myself. There's only one reason to publicize your trades, and that's to pump a certain coin. I personally wouldn't want that unless I'm planning to pump and dump, since if I were to pump a coin I'd expect people to just sell after that certain coin reaches a certain pricepoint. I'd prefer a coin to sort of "naturally" increase in price, without using any hype whatsoever.

[DaMut]

that sounds like a dream mate,absolutely like a dream.
it's like you know how to multiple your Bitcoin and you're very good at it and then will you tell them how it works ?
and will you do that for other people ?
absolutely not right ? you can do it for yourself and gain a lot of money from it,why would you share it to them ?
other than that even if you are really do that in the future,what will other people think about your offer ?

that's an analogy for it,
and lets talk about 'PRO' in my dictionary,
as far as i know,an expert will talk less and do more.they will never tell you how to do it and how can they read the market.
it's very risky to follow their trading style because everybody have their own capacity from financial,time and else.
your target and their target are different and i am sure you will get nothing from it.
i want become a part of trader community but a part of that kind of 'pro',i do not want.

[HeRetiK]

Maybe for BTC and possibly ETH, but for most other alt coins the volume is too lacking for meaningful social trading. If you mix crypto-currencies with copy-trading, you're ending up with pump-and-dump schemes more often than not. Also compared to traditional financial markets the entry barrier for active trading is much lower, so asset managers are not as important as in the traditional financial markets.

Now I'm not saying that you won't find people that are interested in such a project. I'm sure there are. But in my opinion the market is not yet mature enough.

[rroyk]

Thats acutally sounds like the same platform as 1broker type and in my opinion people always ends up loosing following these pro traders like sheep.
what they do is make an announcement which make a sudden increase in the coins price and they buy at low sell at high people who  follows ends up getting loss some get at the right movement at get some profit but not efficient profit that the one announcing the coin makes.

[crptotrader007]

Dear BTT community,

Imagine a venue where you could follow top crypto currency traders from around the world and profit together with them. You would be able to see previous performance of each separate trader, evaluate risk ratios and read reviews. Everything would be transparent and intuitive. Instead of analyzing the markets, you would have an easy job of analyzing the performance of real asset managers, and "hire" the one matching your risk appetite and profit goals.
You would literally have a place with combined wisdom and experience of hundreds of professional crypto currency traders at your disposal.
Hows' that sound? Would you be interested in becoming a part of such community?

The comments people gave above are quite true and there should be counter measures for that.
Apart from that I really like the idea because not all people are the same. Some would want others to get profit too and some would want their strategy to be a secret for themselves.

[Covesting]

Maybe for BTC and possibly ETH, but for most other alt coins the volume is too lacking for meaningful social trading. If you mix crypto-currencies with copy-trading, you're ending up with pump-and-dump schemes more often than not. Also compared to traditional financial markets the entry barrier for active trading is much lower, so asset managers are not as important as in the traditional financial markets.

Now I'm not saying that you won't find people that are interested in such a project. I'm sure there are. But in my opinion the market is not yet mature enough.

I think that currently we are the early stages of crypto currency trading, however transactions value grows rapidly, so does the interest from traders previously involved in FX, CFD etc trading. Its obvious that blockchain has huge potential and digital economy will become understandable for all. It wont be a niche market anymore. It will become a necessity for everyone. Its another topic to discuss, but transparency that blockchain offers has almost infinite potential.
We believe that in 1-2 years time, as soon as markets firmly establish themselves, there will be plenty of hedge funds popping up on the crypto market same way as they did when online-trading became a reality. I was working in one of the pioneering online-trading banks - Saxo Bank. The story repeats itself.

To allow others copy your trades is not much different from managing third party assets. You help investors to make profit on the market, because you are more knowledgeable. However asset management has its own risks. We are all familiar with "Bernie" Madoff case.. Copy-trading platforms are built to bypass security issues, while leaving same opportunities for talented traders to earn success fees.

[HeRetiK]

Maybe for BTC and possibly ETH, but for most other alt coins the volume is too lacking for meaningful social trading. If you mix crypto-currencies with copy-trading, you're ending up with pump-and-dump schemes more often than not. Also compared to traditional financial markets the entry barrier for active trading is much lower, so asset managers are not as important as in the traditional financial markets.

Now I'm not saying that you won't find people that are interested in such a project. I'm sure there are. But in my opinion the market is not yet mature enough.

I think that currently we are the early stages of crypto currency trading, however transactions value grows rapidly, so does the interest from traders previously involved in FX, CFD etc trading. Its obvious that blockchain has huge potential and digital economy will become understandable for all. It wont be a niche market anymore. It will become a necessity for everyone. Its another topic to discuss, but transparency that blockchain offers has almost infinite potential.
We believe that in 1-2 years time, as soon as markets firmly establish themselves, there will be plenty of hedge funds popping up on the crypto market same way as they did when online-trading became a reality. I was working in one of the pioneering online-trading banks - Saxo Bank. The story repeats itself.

I see, so you're trying to get an edge by entering the market early and becoming an established player before the mainstream comes into play. Makes sense.

To allow others copy your trades is not much different from managing third party assets. You help investors to make profit on the market, because you are more knowledgeable. However asset management has its own risks. We are all familiar with "Bernie" Madoff case.. Copy-trading platforms are built to bypass security issues, while leaving same opportunities for talented traders to earn success fees.

Copy-trading has the problem that you're by definition always a move behind the leading trader (as opposed to having your assets directly managed). Especially in a highly volatily, fast moving market such as crypto this can be very critical. Nonetheless this challenge may become less problematic with a maturing market.

I think as it is right now, most people that trade in crypto prefer getting their hands dirty themselves, based on their own techniques. But that may indeed change in the future with crypto-currencies potentially becoming a staple of a well-balanced portfolio. Or maybe even just with more people entering the market, looking for guidance. Either way, all the best for your project!

[Kemarit]

Dear BTT community,

Imagine a venue where you could follow top crypto currency traders from around the world and profit together with them. You would be able to see previous performance of each separate trader, evaluate risk ratios and read reviews. Everything would be transparent and intuitive. Instead of analyzing the markets, you would have an easy job of analyzing the performance of real asset managers, and "hire" the one matching your risk appetite and profit goals.
You would literally have a place with combined wisdom and experience of hundreds of professional crypto currency traders at your disposal.
Hows' that sound? Would you be interested in becoming a part of such community?

I like the idea of following top crypto traders and see how they trade. But to copy them? I don't think so. And do you think that they would share their knowledge to the world? They have they own trading secrets an no matter what, they will not share it to others. They may show a few, but they still have something up their sleeves. And i don't like the "easy job" thingy here. For me, its better you work hard for it and at least even when you lose in trading, you have something to learn and I'm sure that you are going to keep it for yourselves so that you won't make the same mistakes again.

[Covesting]

The key to success for every trader who wishes to become a professional one is to be public and show his track record to attract more investors if he or she is really good at trading. After that, a trader can create a fund (for instance a hedge fund) or become a professional trader at such fund or IB.

[kidsuzudn]

The problem with altcoins is long term trends are absolutely unpredictable, whereas these days pretty much everyone who would buy cryptocurrency agrees that bitcoin is probably the safest bet in holding value over the long term. Virtually every other cryptocurrency has crashed to zero. So nobody wants to be caught holding an alt for very long, but many people feel much safer holding BTC after they've swapped back and fort and made their profits. It's quicker than trying to take your profits back into fiat with its massive delays, huge risk of accounts being frozen and funds inaccessible, and of course paying taxes on your gains.

[sologub]

The problem with altcoins is long term trends are absolutely unpredictable, whereas these days pretty much everyone who would buy cryptocurrency agrees that bitcoin is probably the safest bet in holding value over the long term. Virtually every other cryptocurrency has crashed to zero. So nobody wants to be caught holding an alt for very long, but many people feel much safer holding BTC after they've swapped back and fort and made their profits. It's quicker than trying to take your profits back into fiat with its massive delays, huge risk of accounts being frozen and funds inaccessible, and of course paying taxes on your gains.

We are preparing a platform with a wide range of different trading strategies, including short-term and scalping strategies. As you know altcoins are very volatile, so a trader can make a profit by day-trading. Moreover, we will not restrict only to long strategies but shorting also be available.

[Potato Chips]

if you continue to trade, knowledge will naturally occur to you as you experience and overcome trading challenges so i think veteran traders who's been watching markets for so

long tends to have a high accuracy on predicting things therefore they are the ones closest to pro traders. thats why it will be great to have those people make guides and tips

although most people who claimed they are one tends to just create fuds and hypes moreover some people just follows them without understanding the context which is a rotten

part on this community, some are even asking me who to follow like its a mandatory thing.

[sologub]

if you continue to trade, knowledge will naturally occur to you as you experience and overcome trading challenges so i think veteran traders who's been watching markets for so

long tends to have a high accuracy on predicting things therefore they are the ones closest to pro traders. thats why it will be great to have those people make guides and tips

although most people who claimed they are one tends to just create fuds and hypes moreover some people just follows them without understanding the context which is a rotten

part on this community, some are even asking me who to follow like its a mandatory thing.

But actually, we will integrate the track record system, so trader won't be good on words, they will be ranked by their historical and statistical data. So for the investor that's gonna be much easier to choose whom to follow with accordingly risk and rewards.

[sinfazat22ron]

Looks like Covesting trying to launch something like that

[Getcoinsite]

there are two huge issues with this type of things.
1. following others like a sheep and not understanding where they are going which you also follow, is not a good idea ever in anything not just in trading. you have to understand what you are doing, what they are doing so you can just see, take notes and bend their strategy to your own understanding and follow your own path.
tradingview is already a good platform that many share their views.

2. in my experience nobody really shares anything that is really valuable. and whenever "follow other traders" is involved you see their goals for sharing is to pump something so they can dump it on you.

youve got that right,expert traders got that far because of their dedication and long time experience in trading.analyzation and focussing in every single details that might be valuable in their studies about how to progress in their respective targets.and this guy just asking if their expertice could be easily exposed unto newbies and or to those just got started?no way.thats too far from reality

[app2endad]

What's Covesting?

[ber68dclass]

What's Covesting?

It's the first copy-trading platform with mutual benefit for traders and investors.

[Beerwizzard]

I remember that CoinDash were trying to make smething like that not so long ago. Their tokens pumped a bit and now  everything is quiet. Anyway there was no breakthrough.
Copy trading in altcoins seems like an easy way to scam people: you are buying a shitcoin, people see it and repeat the deal and then when the shitcoin is dumped you drop it on them. Maybe someone will be lucky enough to get some profit.