Wisdom of the Steemians: Ether Classic, Buy Trade Open
Let the Steemian Wisdom Prevail!
So 24 hours after the original post, we have executed the trade. We didn't quite hit the 25 vote mark but we were close, so we wanted to kick things off and hopefully see some results! For the original post check here, but the results at the end of the period were.
- 10 votes for buying
- 6 votes for selling
Trade Details:
- Placed in the buy (up) direction; (ETC price of $16.32).
- Trade size; $25.
- Leverage; x1.
- Stop loss set at $0; (ETC price $0.43).
- Take profit set at $50; (ETC price $48).
These parameters are purposely set at a distance from the current price, in order for the trade to last 7 days from time of opening.
Opening the Trade
First of all, we want this process to be as transparent as possible. So if we have missed anything or you want to know anything, just leave us a comment. The trades can be seen here. Please ignore the large ethereum trades, these are long term hodl trades which we still feel have potential.
Profit or Loss
If the trade goes against our prediction, the stop loss will be activated at $0 to prevent any losses above what we have invested. This results in a loss of the original investment, resulting in no payouts.
If the trade is closed in profit (above the $25), we propose that 50% of the profit be shared among the users who correctly predict the trade direction. If you want to copy the trades automatically, sign up to Etoro and copy @CammyW, there is a $20 bonus! Otherwise feel free to copy on another platform.
The other 50% profit will be saved to build a buffer, safeguarding us for a run of trades that go against us. This will (for the time being) be set at the value of five trades. If/when this is reached, 75% of profit will be shared with the users and 25% will be used to increase the trade value.
These figures are subject to change as the project progresses and we find our feet. A spreadsheet will be published every month with the result of previous weeks to ensure complete transparency. Hopefully, this project will progress into a well oiled machine, whereby using the steemians collective knowlege of cryptocurrency, we add to the steemit platform and maybe even make some money along the way.
Until Next Time
Well guys, thank you again for getting involved. If you missed it, you can get involved with the next one in a day or two, just follow @cameron-walker and keep an eye out. We will keep you updated on the progress of the trade but feel free to check yourselves.
