Profitable Trading Strategies and 5000% ROI
April was a brutal month in global markets like stocks, crypto, and precious metals. The Federal Reserve’s hawkish tone, combined with an escalating international conflict, pandemic and impending recession, has crushed all assets remotely associated with risk.
Despite all of this, several of Covesting’s top strategy managers have been able to hold on to significant returns, with some even topping the charts with an ROI of over 5,000%.
Here’s a more in-depth look at the Covesting copy trading module’s global rankings and top five most profitable trading strategies for the month of April.
We will also consider whether these April showers could bring May flowers and new growth to the markets or whether this is a situation where investors are better off selling in May and walking away.
April 2022: Top 5 Most Profitable Covesting Traders
Looking at the top five, we see some familiar faces. Topping the list is Fractalz once again, which has held the top spot for several months of the year so far.
HelicaSys is another top trader who has spent a lot of time in the PrimeXBT spotlight via the Covesting leaderboards.
HelicaSys has amassed over 3,192% ROI in just over 90 days of trading on the platform, proving what PrimeXBT’s powerful tools can do for you.
Right behind the top two are the generals in third place, rising through the ranks in less than a month. The secret to their success was the powerful leverage provided by the margin trading platform and a timely short position in the crypto.
Covesting traders can access long and short positions even simultaneously using PrimeXBT’s professional trading tools.
Behind Generals is Bitenergy, with 793%. Despite the lower returns than other top 5 traders, Bitenergy is trading with serious follower size behind them.
They have also been on the Covesting charts for nearly a year, and their notoriety is well known and respected. It’s no surprise that they have a large following and an even larger amount of capital to trade with compared to the rest of the list.
Fractalz achieves a return on investment greater than 5,000%; new trader achieves five star status
Fractalz, once again, keeps repeating its dominance month after month. The top trader’s ROI reached a whopping 5,797% at the end of April 2022. The trader also landed another star, bringing him one step closer to Covesting’s coveted five-star rating.
Covet Strategy Managers see all aspects of their trading performance tracked by the Global Ranking System. Performance metrics are available to subscribers, but the platform itself makes finding a diamond in the rough even easier with its proprietary five-star rating system.
Only one trader in the leaderboards has currently reached five stars, and that trader is called BTCMartingale. Each of the five stars is awarded for having a proven track record of safety and success.
Coveting preview: what to expect from May?
These traders managed to remain profitable during the volatile month of April. The volatility was driven by fears of further rate hikes from the Fed, which could cripple the stock market and push the economy into a recession.
The situation in Ukraine, combined with increasing COVID-related lockdowns in China, is further driving inflation rates spiraling out of control.
Investors are often advised to sell in May and walk away, but after such a long sideways downtrend, is it really worth selling now at a loss? There is an equal risk that the Fed will adopt a more dovish tone and scale back rate hikes due to the damage it has already done to the stock market.
If that happens, April showers could bring new life as spring kicks into high gear. Will a new uptrend bloom? Or will the bears push prices even lower in the face of Fed fears? The entire market is split, and this could lead to an explosive move.
Summary: Weathering the Storm with PrimeXBT and Covesting
With PrimeXBT, the direction of the trend no longer matters. Coveted traders who rely on the advanced margin trading tools provided by the platform are always able to hold their profits regardless of the markets.
The award-winning margin trading platform offers access to over 100 different trading instruments under one roof. There are also several other ways to grow your money, such as yield accounts or by following these top strategy managers using the Covesting copy trading module.
If you don’t know what to do or how to weather the coming storm, consider signing up for PrimeXBT and the Covesting copy trading module.
All information contained on our website is published in good faith and for general information purposes only. Any action the reader takes on the information found on our website is strictly at their own risk.