in tradeio •  2 months ago

In my last article, I shared that Trade.io is hosting a 10-day Trading Contest.

The prizes are quite large with the top 50 traders getting a piece of 5 Bitcoin.

This article is to explain how to get high rankings in the contest.

Your ranking in the Trade.io contest depends on two factors, Trade profit and Trade volume.

Traders will be ranked by these two factors and their coefficients multiplied. The lowest number wins.

Lets look at this example

Let's say we have 200 traders. We then decide to focus on 4 Traders - John, Alice, Fred, and Gustav.

John starts with $100 worth of Ethereum and by the end of the contests, his portfolio is worth $400.

Alice starts with $2000 worth of Ripple and by the end of the contest, her portfolio is worth $350.

Fred starts with $300 worth of Bitcoin and ends the contest with $450 worth of coins.

Gustav trades with $250 worth of USDT and ends up with $300 worth of coins

Let's use this information to decide the winner of the contest.

Ranking Based on Trade Profit

John - (400 - 100)/100 x100% = 300% profit

Alice - (350 - 2000)/2000 x100%= -82.5% profit or 82.5% loss

Fred - (450-300)/300 x100% = 50% profit.

Gustav - (300-250)/250 x100% = 20% profit

Let's assume they ranked as follows

#2 - John

#5 - Fred

#13 - Gustav

#89 - Alice

Ranking Based On Trade Volume.

Let's assume they ranked as follows

#1 - Alice

#7 - Fred

#17 - Gustav

#101 - John

To decide the overall ranking we multiply the positions each trader had in each criteria

John - (2 x 101) - 202

Alice - (89 x 1) = 89

Fred - 5 x 7 = 35

Gustav - 13 x 17 = 221

From this, we can see that Fred performed best in the Contest. Alice had the biggest volume and John had a great profit rate. The key is balance.

So you can go ahead and sign up on Trade.io and get to trading. Competition lasts till February 28th, 2019.

Check the Leaderboard at the bottom of this page for daily updated rankings


For more updates follow Trade.io on any of their social media channels

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The information contained within this post is not to be taken as financial advice. I am not a financial advisor and none of your investment decisions should be carried out based on any information presented here. Please do your own research before investing in cryptocurrencies or any digital asset. You can lose all of your money by investing wrongly. The information presented in this article is for educational and entertainment purposes only.

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