Participating in the Crypto Cartel trading competition

AlexO
AlexO
Aug 31, 2018 · 2 min read

If you haven’t heard about the trading competition organized by the Crypto Cartel discord group, it’s a month-long competition in which the winner must have the highest ROE (Return on Equity %). Anybody can participate and the starting balance is split into multiple tiers to accommodate everyone: 0.01, 0.1 or 1 BTC. It’s starting on September 1st so you’d better hurry if you haven’t signed up already.

I’ll be putting my learning from the past couple of months to the test, I’m pretty excited about this, hopefully I’ll end up with a positive balance at the end. :D

Target: 100% ROE.

You’d say my target is small, but I think it will take a while to reach that number considering how little risk per trade I’m taking.

Risk management: a flat 3% risk per trade, up to 5–7% if I have a really good reason.

My risk amount is pretty small, I know, compared to the rampant degeneracy we see every day in the crypto space. I guess you know the story with the turtle and the rabbit, right? Anyway, I’ll re-evaluate after the first week to see what can I do better.

In the last comp a lot of traders got liquidated because they didn’t take their risk management and the competition seriously. If you participate, why not make the best of it?

During this competition I want to build good habits that will help me keep this up in the next few months or even years.

Setups: mostly S/R: engulfs, fresh retests and stuff like that I’ve learned from Cred, Mayne, TraderSZ, Trader Dante etc.

Timeframes: M15 and H1, but will check bias on H4 and D1.

Worst case scenario: I lose my entire starting balance and/or I get liquidated.

Best case scenario: I reach or surpass my goal of 100% ROE.

I’ll try posting some short updates about how I’m doing along the way and at the end of the competition I’ll post what I’ve learned, what I did wrong/good, what can I improve etc.

Good luck to everyone participating!

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