If you have been around long enough, you may remember that I started a monthly report update based on the results that I got from Zignaly (report 1, 2, 3, 4, 5, and 6), where I tried to get a passive income system. I started this in January 2019 but stopped updating the updates around six months later. I plugged it because it wasn't really "passive," and I couldn't find something stable due to the time required.
During these months, we have been working hard to have something passive. We launched cryptocurrency copy trading, which was a considerable improvement. Still, we weren't 100% happy with it, so we kept working and came out with the profit sharing solution, which is excellent (however, we already have some ideas to improve and bring it to the next level).
With profit sharing, I, again, can start looking for my passive income system and share it with you guys. It has been just one month since we launched profit sharing, a crazy month, with Bitcoin doing a new high each day, reaching almost $30,000 by the end of the year, so we need to be careful, the services that we have are news, and we don't have enough data to make a proper decision. The good thing is that some of these services have a copy trading version that has been running for months, and they are just migrating the strategy to profit sharing, so we can take a look at these services to have an idea about what to expect here.
Monthly Income Statement: December 2020
I'll start with a quick summary of my investments, and then I'll detail each one of them.
I won't spend much time here because this is a testing service only.
Cryptopunk Futures - P Sharing
It hasn't worked so far, but it has controlled the risk very well. Almost the entire percentage of loss was due to a Zignaly problem in the last days of December. This has been my progression during December.
Trend Surfers - Trend Following V2
I have big hopes for this service. If you check the marketplace, the trader has been running services on Zignaly for more than a year. He doesn't aim for big profits in the short term, but for long and constant profitability. He's not afraid of closing positions with losses. His winning rate doesn't look good, around 30%. Still, as he explains in his communications, this is part of his strategy. If something doesn't go as he expected, he closes the position and looks for new opportunities. I think this is the perfect example of the famous quote for trading Cut your losses short and let your winners run. Another exciting thing, which is why I trust this service even when the results aren't so impressive, is the trader's communication. He keeps you updated about his strategy, how he manages it, his testing results, and many other things.
Trend Surfers - Breakout 2x
I won't spend much time here either, because the trader discontinued this service for now. But I want to remark on what I explained before (this service belongs to the same service as the previous one), which is how the winning rate means nothing. As you can see in the balance chart, my balance was going down during the entire month, I was close to stopping the service, but you can see how it worked the wait in the end.
Digicrypto Futures - Profit Sharing
Too soon to say, but it looks promising. I like this service because this group of traders is repeatedly watching the strategy and results, adapting and updating it to get the maximum return. They have pushed us hard to fix and implement some stuff in Zignaly, but I think the results show that it was worth it. I jumped into this service close to the middle of the month because of the progression. You can see not a stagger progression in the chart where you usually would find a vast positive return, followed by a huge negative one. In this case, the progression is constant, always going up. I increased my allocated balance after a couple of week of testing it.
Btc Futures - Profit Sharing
The results of this service are misleading. It shows a -3.05%, but and if you check current open positions, the thing changes. It has a currently open position with more than 100% of the return. I just put $40 for testing this, and the unrealized returns from that position are $43.58 so far, so it's impressive. My concerns here are two. First, if I understood correctly, it only operates in the BTC/USDT market. In situations like this, where there is a winning open position with expectations of keep going up, new investors' possibility to get in is zero.
Secondly, we are in a super bull market with BTC, so I would like to see how this service works in less favorable conditions. However, this trader had another service for copy trading since July of 2020 with a return of 111.64%.
Ullr Trading - Profit Sharing
These service results are excellent, I didn't get in from the beginning, but still I got a 60.07% of the return. I may increase the balance after seeing a few more weeks of results, but you have to consider that this service use leverage of 10-30x, which is very risky. Your balance one day could be +200% and the next one -50%. The good thing is that you don't need to wait so long, as from the Btc Futures - Profit Sharing service, to start seeing results.
We have more than 15 services for profit sharing in just a month, some of them with impressive results. There are some of them that I didn't have the opportunity to join yet, but I will do it during January. I'll be cautious because December results could be misleading (even I made some profits trading BTC/USDT manually).
I'm delighted with this new service of Zignaly. It's close to passive income. The only thing is that you still need to spend some time choosing what you think would offer the best results in the long term.
Have you given a try to Profit Sharing for cryptocurrencies? If so, how were your results?
Disclaimer: The information from this article and analysis is for informational purposes only. This report is not investment or financial advice. Seek a duly licensed professional for investment advice.