Every day participants will answer three special open questions:
“Please submit your BUY/SHORT trade idea in this format: “currency pair”: “entry point”: “take profit”: “stop-loss”. e.g. "BTC/USDT:11700:12200:11000" (if you don’t follow this format you will receive 0 points for your idea. The list of currency pairs which you can suggest is located in the helpful links)”
Attention! The answer MUST follow this specific format, otherwise no points will be awarded for the trade idea.
Here is an example of a correctly entered answer for a long position idea:
BTC/USDT:11700:12200:11000 , where BTC/USDT is the trading pair, 11700 is the entry point, 12200 is the take profit, and 11000 is the stop-loss.
Here is an example of a correctly entered answer for a short position idea:
The take-profit price will determine the direction of the trade idea (short or long). If the take profit is higher than the entry point, the idea will be considered a long position. If the take profit is lower than entry point, the idea will be considered a short position.
Attention! For the entry point, take profit, and stop loss in your answers, you will need to use only the prices on Binance exchange. The results will be calculated according to Binance.
Trades with an entry price that is not immediately executed (“Limit-order”, e.g. BTC trades currently at USD 11’850, I would buy it at USD 11’500) are automatically closed 24h after the trade was entered if the entry price is not hit. If you still want to enter this trade again you can re-submit the same trade idea within 24 hours.
The trade idea will be considered active once the trading pair reaches your entry point.
The positive or negative return will be calculated depending on what price level is reached first: your take profit or stop loss.
Attention! You will need to post at least 20 trade ideas during the challenge (8 to 31 July) to be considered for a prize.