Tuesday, November 03, 2020 /
11:00 AM / Sponsored Post / PrimeXBT Analysis / Header Image Credit: PrimeXBT
Fear, uncertainty, and doubt are the worst enemies of investors and traders. When these emotions begin to creep up due to economic, political, or market conditions, volatility kicks into overdrive, and things get messy.
Even knowing that a phase like this is approaching can be stressful. During a time when we're all facing so many challenges, COVID, and the indecisive feeling we all get around elections, the last thing anyone needs is more stress with markets, but nobody wants to pass up a good opportunity for profit - so what's the answer? With Covesting on PrimeXBT, investors and traders tired of markets or seeking a break from the stress can follow other skilled strategy managers on the copy trading module and let them handle the rollercoaster ride ahead for you.
Capping Off 2020: An Ongoing Pandemic With Political Nightmare
Any day now, a decision will finally be made between US President Donald Trump and former Vice President Joe Biden on who will become the president for the next four years. Trump, a polarizing force in the US, as the republican candidate would keep the corporate tax environment favorable for stocks, while a "blue wave" Biden win could cause a selloff. Biden being up in the polls currently could be what is prompting the selloff in major US stock indices like the Dow Jones, S&P 500, and Nasdaq currently.
The shakeup has also potentially put a pause on Bitcoin's advance for the time being, and until the air clears of election-related fear, uncertainty, and doubt, even the cryptocurrency, and gold - two top 2020 performers in the face of the pandemic - have pulled back considerably.
Because there is a 50/50 chance that either candidate wins, there are also two completely different outcomes for markets. The post-election stimulus is also a factor that could further make markets a rocky ride for the foreseeable future, but with the volatility comes opportunity. The only solution where you can still take advantage of the coming storm, but also keep stress to a minimum and instead focus on politics, the pandemic, and the coming holidays rather than spending all your time charting, only to risk all the time you could have spent something else on a loss.
Take Advantage Market Trublence Worry-Free With Covesting And PrimeXBT
Let others do it for you and take on that stress instead, with Covesting on PrimeXBT. PrimeXBT is an award-winning trading platform offering CFDs on stock index trading, forex, commodities, and crypto that this year debuted the Covesting copy trading module to the world.
The innovative peer-to-peer network of followers and skilled strategy managers combines the two different types of investors and traders for synergistic profits. Strategy managers do what they do best while earning a cut from follower equity. Followers get to sit back and destress a bit while not missing out on market movements during such a turbulent phase but don't actually have to swim in shark-filled waters themselves.
Covesting's fully transparent global leaderboard is full of strategy managers trading stock indices, Bitcoin, gold, oil, and more than 50 other assets on the PrimeXBT trading platform. Long and short positions let these strategy managers profit whichever way markets turn, and risk management tools and technical analysis software built-into PrimeXBT mean that the strategy managers ready to be followed have everything at their disposal they need to prepare, execute, and react to whatever comes ahead around what might be the most critical election of our time.
Covesting copy trading is available to anyone with a free PrimeXBT trading account. Open yours today to avoid the fear, uncertainty, doubt, indecision, and all the other stressors that come with an election and a pandemic.
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