Steemit Crypto Academy | Summary On Trading Competition [Team Reminane] | S6T4
Hello Steemians, this week marks the end of the crypto season 6. The season closed with a trading contest which ran from 00:00am UTC 27th March 2022 to 11:59 pm UTC 2nd April 2022. I wish to thank everyone who took part in the trading competition and also the lesson this season. I trust that the knowledge we have acquired will help us to make good investment decisions in the crypto market.
This week, 22 users joined team REMINANE in the trading competition. Only 17 members met the guidelines and requirements and as such are eligible to enter the competition. Meanwhile, 5 participants were disqualified from the competition for failing to adhere to the competition guidelines.
The table below shows the users who were disqualified from the competition and also the reason for their disqualification.
| Username | Remark |
|---|---|
| @lavanyalakshn | Wrong Data format |
| @malikusman1 | Wrong Data format |
| @aneukpineung78 | Wrong PNL Calculation |
| @allbert | Wrong Transaction Details |
| @ramsesuchiha | Wrong Transaction Details |
All the users posted their trades daily while answering the following questions on the Coin/token they traded.
- 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.
The majority of the participants carried out spot trading and futures trading on the Binance exchange. Users who carried out spot trading mainly performed buy positions which they later sell as price appreciated. Furthermore, few participants carried out CFD positions using brokerage firms. 57 trades were carried out by the 19 valid participants. Out of the 57 trades carried out, 48 trades turned out to be winning trades while 9 trades turned out to be losing trades. The summary of the trades carried out can be seen on the pie chart below.
Summary of the trades executed by each trader in the team and also the outcome is shown in the Screenshots below.
Total profit from the team = $33.20
Total no of trades = 57
Total no of winning trades = 48
Total no of losing trades = 9
Team Ratio = Total no of winning Trades / Total no of trades
= (48 ÷ 57) × 100 = 84.21%
Top 3 Participants
There were many entries in Team Reminane this second week. However, some participants were exceptional in their trading operations. This includes the total number of trades, the quality and technical analysis carried out, and also the profit realized by each user while following the proper guidelines for the competition. The following participants deserve an award for their performance.
| Username | Homework link | Net Profit |
|---|---|---|
| @santosbass2 | Homework post link | $13.63 |
| @nangel | Homework post link | $5.845 |
| @beckie96830 | Homework post link | $2.36 |
Recommendation / Feedback
- The participants made efforts in carrying out effective research on the cryptocurrency project traded. This includes a background of the project, technical information, project team information, etc.
- Majority of the participants are still struggling to carry out good technical analysis. I can assume they were in a hurry to perform the task and as such not executing their trades using proper trade management. I have always stressed that there's no point in chasing the market. To be profitable as a trader, you need to be patient for the right setup to unfold before you take a trade.
- Also, the trade management this week is poor. Most users were placing trades without any solid confirmation. The majority executed their trades with poor risk management. I don't see any reason for taking a position that doesn't give you at least a 1:1 risk-reward ratio. Like you are willing to lose more than you can earn from the trade. I just hope that the participants can always refer to the previous lesson to make better investment decisions.
- Finally, I feel bad for users whose posts were disqualified this week. This shows your inability to pay attention to the homework guidelines. The correct format to fill the form was clearly explained, yet some participants failed to follow this format. I tried my best to correct the entries that were easy for me. I urge you to pay attention to the guidelines before performing the tasks.
Conclusion
Special thanks to all the participants who joined team Reminane this week. I believe we can all apply all the lessons and trading strategies learned from the lessons in our trading style. Trading is simple if you follow the basic rules of the market. Most importantly, maintain proper risk management in any position. The crypto market is highly volatile and as such very risky to trade without a stoploss.
Thank you for participating in this trading competition.
Eligible Participants who met all the requirements for the competition.
@abell24
@ahmadchemist737
@aldrich10
@beckie96830
@cinnymartins
@focusnow
@genesisaguilera
@josantos
@justiceanietie
@nangel
@ngongha
@omsingh11
@sadiqxylo
@santosbass2
@sir-charles-jude
@xkool24
@zekea
Cc: @steemcurator02
Hello @steemcurator02, these users are eligible to receive upvotes but are not qualified for the competition due to wrong data entry.
@allbert
@malikusman1
@lavanyalakshn
Thank you professor. But plz mention the curator with correct spellings. You write steemcutaor02 but right is steemcurator02.
Dear @steemcurator02 me and @allbert were are also eligible for upvotes but you skipped us.
@kouba01
@reminiscence01
Hello again Professor @reminiscence01, sorry for the inconvenience. But I thought I understood that I and @malikusman1 / @lavanyalakshn would have the option to receive votes for our posts of the week.
It is true what my colleague says, so far we have been bypassed.
Thanks professor for your valuable time..
Buen resumen, espero que todos hayan disfrutado de la temporada 6, fue un gusto participar al comienzo de la temporada
Dear professors is this data format is wrong. Please help me dear professors.
AVAX/USDT , Buy = 71.91$ , sell = 72.09$ , Profit/loss = + 0.13$
Cc:
@kouba01
@abdu.navi03
@shemul21
@fredquantum
@pelon53
The above example you gave is not the correct format. Kindly revisit refer to the competition guidelines https://steemit.com/hive-108451/@reminiscence01/crypto-academy-trading-competition-s6t4-or-team-reminane
Correct Data format. Now you can compare this with the example you gave above.
Professor can i know my mistake.
Data formate wring means what.
I give my entry ,exit prices along with my profit /loss details.
Then whats wrong with me.
I give my screen record too.
Need clarification on my mistake ...
Cc :-
@reminiscence01
This is your format.
Correct format from the guidelines.
Kindly refer to the guidelines https://steemit.com/hive-108451/@reminiscence01/crypto-academy-trading-competition-s6t4-or-team-reminane and compare the format you entered. You should pay attention to guidelines. I clearly explained this format due to the problems that occurred in the previous competition.
In my formate i give my entry ,exit and profit and loss ..
Its readable correctly. Then whats wrong with it..
Can I know ,its really not understanding..
Like the above format.I give my data.
If not readable I accept my mistake..
Good day Prof @reminiscence01 please you omitted this post
I don't understand what the problem here. Can you explain further?
Sorry, this is the correct link
Weldone Prof and also thanks for your patience in clarifying all concerns.
Hey dear professor can you tell me my mistakes in the the data format page. I always fill my data format in this way as i fill your data form but no professor disqualify me.
AVAX/USDT , Buy= 91.71 , sell = 92.09 , profit/loss = + 0.13 $ .
Whats wrong with this format dear professor. Please dont waste our hardwork. Please do mercy on us.
Cc:
@kouba01
@reminiscence01
Thank you for your hard work, i appreciate your effort
Let me add that in your indications about the video you only placed this "quote verbatim":
Nothing else, there are no special or additional indications about the video.
Precisely my video contains all 4 transactions with all the details, as I have been doing in the last 4 weeks.
For this reason, I ask you again... specifically what is the reason for my disqualification?
Ok, trying to find a proof of your executed orders from the video you uploaded, instead of showing the transaction details/reciepts of the executed trades, you were demonstrating the same buy limit on the publications. The video is meant to show the transactions details of the executed position.
What we expect from the video is the order history of your positions which shows the transaction reciepts of the trades.
I insist teacher. My video contains that information. You may need to watch the video at a slower speed and see the details better.
I admit that for the video not to be tedious I should have increased the speed. Maybe that could have confused You.
Once again I invite you to review it, I insist that I have done it this way with other teachers and I have never had problems like this one.
Please check again. Maybe the problem was the speed of the video.
Please check every corner as the exchange generates confirmation boxes for transactions that may go by very quickly.
I'm sorry for getting into this conversation, but my case is similar, I don't understand what the receipts are.
are this?