Crypto Academy Trading Competition | S6T2| - Team Reminane

in SteemitCryptoAcademy9 months ago


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Image edited in Canva

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Hello Steemians, I welcome you all to the 2nd week of season 6 in the Crypto Academy trading competition. The team has initiated this program to enable students to test the knowledge they have acquired so far in the academy. Aside from that, the trading competition will also give students confidence and expose them to the skill of trading in the crypto market.

So many trading strategies have been taught in the academy over the past weeks and we believe putting them to work will help us gain confidence in making better trading decisions in the crypto market.

In this post, I will be guiding my team " Team Reminane" this week in the trading contest. I assisted professor @nane15 in leading the team last week and the rules and regulations of the team were discussed. I will be giving more details on the guidelines and also the required techniques needed to make good trades in the market.

You are all welcome to team "Reminane" once again in this trading competition. I assure you of great trading experience if you can adhere to the rules I will detail in this post and also the trading advice I will give you for good trading success. The unique hashtag for the team is #reminanes6t2 which you will include among the first 5 tags in your trading post.

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What should be included in your Post

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In this trading contest, users are can trade any coin/token (excluding **Hive and Blurt) in the following market:

  • Spot market.
  • Futures market.
  • Margin trading etc.

A user is required to make a post on each successful trade daily and post it in the crypto academy community. You can trade as many times as you want in a day but you are required to make only one publication in a day and not more than 5 posts in a week. The content of the post can be:

  • The name and introduction of the project token, which exchanges it can be traded on, project / technical information of the coin/ team background, etc.
  • Why you are optimistic about this token today, and how long do you u wish it can rise.
  • How to analyze the token? (This can technical analysis and trading strategies learned from professor's courses) - This section is very important.
  • Your plan to hold it for a long time or when to sell.
  • Do you recommend everyone to buy this token? Give reasons for your answer.
  • Any other thing you might want to share about this coin/token.

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How to fill out the Google form

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The google form is meant to be filled out and submitted on Saturday. Here a user will include 5 trades carried out each day during the week with the format explained below. A user is required to upload a short video of the 5 transactions shown clearly in other to be eligible for the competition.

Steps:

  • Enter your username as shown below.


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Source : Google form

  • Fill out your transaction details using the format below.


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Source : Google form

  • Upload a short video of the 5 transactions you carried out and click on submit.


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Source : Google form

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Trading Guidelines for Team Reminane

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This is a little guideline I feel will help you make a good trading decision in the market. Trading cryptocurrency is not easy but having the right trading plan will enable you to make good decisions in the market.

  • Have a plan: This requires you have a trading setup you look out for in the market. This can be chart patterns, support, resistance, candlestick patterns, or indicator signals to make your trading decision.
  • Entry and Exit Criteria: Before executing a trade, you should be able to have a clear entry criterion. For example, a bullish engulfing candlestick pattern formed at a support level is a good signal to go execute a buy position. Also, exit criteria which can be a stoploss or take profit should be placed at strategic positions. The best positions to place your stoploss should be above or below previous highs/lows or above or below support and resistance levels. This can help give your trade room for price fluctuations.
  • Risk Management: I have mentioned in my lesson, if a trade can't give you at least a 1:1 risk-reward ratio then the trade doesn't worth risking your money on it. You can wait for another setup with better R:R to take advantage of the market. This is the only way you can be profitable in the market.

Finally, I urge everyone to be patient with the market. Do not force a trade or open a position without having a clear signal or reason to execute a trade. Also, you can have confluence from other technical analysis tools to strengthen your trading signals.

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Guidelines

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Please this trading competition is focused only on cryptocurrency pairs. The use of forex, indices, or stock will be disqualified. Kindly take note of this.

  • Your entry must be posted in the Steemit Crypto Academy community. Your entry title format should be " [Crypto Asset Traded] - Crypto Academy / S6T2- Team Trading Contest Post for Reminane".
  • Plagiarism is a great offense in Steemit Crypto Academy and it won’t be tolerated. Ensure you refrain from any form of plagiarism.
  • Your post should not contain less than 400 words.
  • All images, graphs, and screenshots from external sources should be fully referenced, and ensure to use watermark with your username on your screenshots.
  • Use the tag #reminanes6t2, #cryptoacademy, #club5050, #club75, #club100 if eligible and your country tag among the first five tags. Also include other relevant tags like, #trading #cryptocurrency.
  • Only users who meet the requirements for #club5050 are eligible to participate in this competition.
  • The competition runs from Sunday 00:00 February 27th, 2022 to Saturday 11:59 pm March 5th, 2022 UTC Time.
  • Only users with a minimum of 250 SP and having a minimum reputation of 60 are eligible to participate in this competition. Also, note that you must not be powering down.
  • Users who have used upvote tools to gain SP or build their reputation are not eligible to participate in this competition.

Note: You can only drop your post link in the comment section if not reviewed after 48 hours.

The comment section is freely opened for suggestions and feedback on the competition.

Cc: @steemitblog

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Saludos, Una consulta.. Si yo hago operaciones por ejemplo el dia de hoy y mañana, puedo incluir esas operaciones para los articulos de esta siguiente semana? o deben ser operaciones hechas a partir de este lunes?

It is better you start to submit from tomorrow.

 9 months ago 

Great professor, I love the way the trading competition is moving. I have already learn a lot all thanks to the knowledge I acquired from you people

 9 months ago 

Can we use a broker account with mt5 to trade ? @reminiscence01

 9 months ago 

Since Spot Market lacks stop-loss and take-profit feature, can we create them manually?

Yes, you can. When u buy an asset in the spot market, the point you sold it back is either your stoploss or your take profit. But identify these points on your chart during technical analysis.

 9 months ago 

Okay, thank you very much, Prof.

 9 months ago 

For a sell order in the spot market, is the entry same as take profit?
Because after selling, the trader no longer holds the asset to make future profit or loss.

When you predict the price of an asset to decline, you can sell the asset and buy it back when it falls.

For example, if you sell 10 STEEM/USDT @ $0.33, you will have more STEEM When buy back at @ $0.25. Then you can calculate how many Steem you have made and multiply it with the current price. If this is confusing, you can consider only buying positionin the spot market or you trade using the futures market.

 9 months ago 

Okay, thank you, I have the clarity now.

Dear prof, If it’s a spot trade, how to enter profit details if I’m not going to close it before Saturday? Because the coin I invested can be below the expected profit level.

Check the current price of the coin and calculate the profit. Also take a screen record of the opened position.

Dear prof, I already uploaded the video and filled the google form. In previous week prof reddileep mentioned if it’s a spot trade, we only have to enter the buy price. That’s why I only included the buy price. Do i need to fill the google form again with current price and profit?

Did you add the profit from the trade?

No. Only the buy value. Last week professor mentioned he will calculate according to the market value. Do i need to resubmit the google form?

Alright. I will calculate with the market value of the asset.

Dear prof @reminiscence01, why did you disqualified me? I did 5 spot trades and I have asked you about the data entry and you said you will calculate the profit. Otherwise i would have enter those.

Okay prof. Thank you.

Hola profesor @reminiscence01, tuve un pequeño error en el formulario que envíe, me di cuenta y lo corregí antes de que finalice el tiempo, sin embargo, creo que se enviaron dos, disculpe el inconveniente y mi error

 9 months ago 

Greetings professor. Can I participate?

 9 months ago 

Good day professor @reminiscence01, pls kindly review this post below, it's been over 48hrs, thanks sir.

https://steemit.com/hive-108451/@feyol55/etc-usdt-buy-or-crypto-academy-or-s6t2-or-team-trading-contest-for-reminane

 9 months ago 

Hello professors @reminiscence01 and @nane15

Here is my homework post

 9 months ago (edited)

Hi, Prof. @reminiscence01. Well-done! And thank you for your efforts toward delivering quality contents and lectures.

I want to call your attention to something. Last week I joined your team, reminane. Curator has never voted none of my post. In fact, I have made three reposts already. Please kindly help on this. Thank you

CC : @reminiscence01
@nane15

You had an issue with my partner that led to that last week. I thought you both have resolved the problem?

 9 months ago 

Not only me. Others people posts have not been voted, too. There's no issue with prof. @nane15. I just wanted to know why he said I made several operations which he hasn't explained very well because I have not still got his explanation concerning that.

If you check the tag for last week, you will notice there are still many people whose posts have not been voted.

Thanks Prof. @reminiscence01.

I think the problem is from the data your submitted in the form and the result from your post which do not correspond. Please ensure that the trades you carried out corresponds with the data you submit on Saturday. Maybe he has more explanation on this.

Your repost have been submitted for curation. Remain calm.

 9 months ago (edited)

Thank you so much Prof. @reminiscence01.

Curator has voted some. There is still one which he hasn't voted. I guess he didn't see that.

Here is the link:

https://steemit.com/hive-108451/@msquaretk/repost-ada-usdt-buy-or-s6w1-or-team-trading-contest-post-for-reminane

Thank you so much.

CC: @reminiscence01
@nane15

 9 months ago 

Professor, I used a broker account to carry out my trade and I have many other stocks pair history. So how do I upload the video? can I make five different videos of each transaction or screenshots of the five transactions or I should record all my history along with the other stocks?

You can take a screenshot of the five trades and make a video using the screenshots. Make sure the date and time in the screenshots are clearly visible. Please ensure that the date and time on the screenshots corresponds to the ones you have carried out in your posts. Any slight difference in both will disqualify your entry.

 9 months ago 

Greetings Professor, can one repeat last week's token but in another position or do this week's pairs have to be different from last week. Thank you.

You can trade the any crypto pair. But your analysis and discussion must be different.

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