PrimeXBT platform interface consists of 5 main sections:
Account - make deposits, withdrawals, change account settings and keep track of your account’s activity and statistics. Trade - also known as Trading Terminal, this section is used to monitor the market, place trades and control your orders and positions. Turbo - Short-term Bitcoin settled contracts Covesting - Strategy management and Following Analysis - charts by TradingView for technical analysis
Let's take a separate look at Covesting.
Covesting allows traders to set up and manage a Strategy - a pool of their own assets which is visible to the public and can be Followed by others. This provides an excellent opportunity for both experienced successful Traders and Followers to greatly boost each other’s profit potential.
The creator of a Strategy is known as a Strategy manager, while those who follow a Strategy are Followers. Upon creation, a Strategy becomes visible to the public and available for following: - Strategy Manager controls trading activity of the Strategy they are managing - Followers automatically replicate the trades of the Strategy they are following
Creating a Strategy allows Strategy managers to receive a percentage of all profits made by their Followers, while allowing Followers to make passive profit without having to personally trade on the market, thus maximizing profit potential for both parties. The Covesting module consists of 7 sub-sections: 1) Ratings 2) Portfolio 3) Create Strategy (Becomes ‘Manage Strategy’ sub-section after creating a Strategy) 4) Manage Strategy 5) Trade 6) Trading History 6) Strategy history Let’s take a look at these 6 sub-sections:
The ‘Rating’ page reflects the current ratings and core statistics of all Public Strategies. Clicking on a Strategy in the Rating list will bring up the main page of the selected Strategy, where detailed information regarding it can be found, including Profit/Equity charts, Strategy description, as well as conditions of distribution of profit (offer) and the option to Follow the chosen Strategy:
The 'Portfolio' section reflects information about your currently active Followings as well as your Following history.
The ‘Create Strategy' page allows a trader to create a Strategy and become a Strategy manager. To create a Strategy, all of the required fields must be filled and the Strategy starting capital must be selected.
After creating a Strategy, the 'Create Strategy' section will become the 'Manage Strategy' section, which allows you to view Strategy statistics and manage your Strategy.
The 'Manage Strategy' page allows a Strategy manager to view their Strategy's core stats, such as Total/Today's profit, changes in Strategy Equity, profit distribution conditions, Profit/Equity charts, as well as close their Strategy and invest more funds into their Strategy.
The 'Trade' tab of the Covesting module, is where Strategy managers perform their Strategy trading activity. Here Strategy managers can Place, modify or cancel orders, as well as Track, modify or close positions.
For a comprehensive guide on the Trade terminal interface, see our easy-to-understand tutorial: Understanding Trade interface.
The Trading History tab reflects your Strategy's last 30 trades and allows you to download an Account Statement. The ‘Account statement’ button allows you to generate an account statement with detailed logs of your Strategy's trading activity for the desired time period. For a comprehensive account statement guide see our comprehensive tutorial: Understanding Account Statement.
The 'Strategy history' reflects information about all of your previous and current Strategies.