CoinTiger has hosted the 3rd AMA session together with Dickson Magic, the professional Contract trader, trend analyzer and a partner at CoinTiger on the 12 March. CoinTiger recaps the AMA session in case you have missed out on the AMA contents.
Session1: QA with the Project representative
Q1: The first question is simple, what do you do?
Dickson: Let me introduce myself in details, I am Dickson Magic, a professional trader, Contract Trading specialist and partner at CoinTigerEx. I will be giving professional Perpetual contract guidance in this group, join us if you are interested. My guidance on orders are mostly accurate, so do join me and refer to my guide it’s helpful most of the time. In case you do not know what is a perpetual contract, it is a margin-based spot market and hence trade close to the underlying reference Index Price.
Q2: Do you have any past records for a success guide on orders?
Dickson: Yes, I have 6 years of trend analysis or order guidance for other exchanges’ users, not going to mention any names here as I might get a ban me for advertising XD. Let’s go back to the main subject, I also provide a guide for CoinTiger in the Chinese community and the results are pretty overwhelming, most of the followers had earn rather than loss overall. Please take a look at the picture about those are my order records for the Chinese community of CoinTiger:
Q3: As we could see, there are two different Contracts they are Perpetual and Delivery/periodic Contracts existed in different exchanges. What are the differences or similarities between them?
Dickson: The basic and fundamental difference between the two is: perpetual contract does not have an expiry date, while periodic contracts require settlement on a specified date in the future. Aside from this distinctive difference, there are also other varying aspects between the two. At CoinTiger, they provide the perpetual contract trading services, which I personally more preferred perpetual contracts as there is no expiry date for asset settlement.
Q4: Is Futures Contract profit-able in your opinion?
Dickson: Yes and no, this is a 50 to 50 question, investments contain risk and it might need the luck to win which is similar to gambling. However, in Contract trading, we could control our loss with a stop loss mechanism when luck is absent. My job here is to do my best to provide the most accurate guide as possible for your profit.
Q5: What is the strategy used for analyzing the trend and giving prediction orders?
Dickson: There is a certain calculation formula I use for trend analyzing which might include a lot of different kinds of algebra ratio, graph interpretations or even geographic, temporal, and intuitive perspectives.
Session 2: Open Questions by the Community
Q1. Any tips you would suggest for beginners?
Dickson: I would like to point out some rules for beginners to know before operating.
1. Only invest the amount you can afford to lose in especially in contract trading;
2. Always remember to set a stop loss and don’t put all eggs in one basket. Here’s a tip: if you had 2000 in your trading account, transfer only a few hundred or half of your asset into contact account then open orders with only 5–20 percent with lesser leverage to maintain a healthy margin rate and prevent liquidation. Only start to send the other half of your asset if you needed to add a margin.
3. Don’t be greedy. Greed is good, but not too much. Even if target profits are set to 40% or 50%, you should at least pull out some of the profit on the way up in case your position(s) doesn’t reach the target profit.
4. Don’t FOMO. Just relax and wait for guide orders. Be patient even your newly open position starts to fell.
5. Always learn from your mistakes. Mistakes are the most critical parts to lose money, learn from them and stand up from where you fell.Q2: How much money do I need to start?
Dickson: It really depends on you, if you think you are ready to smash it then you may want to join the group and start referring to my guide orders. For those who are less prepared, you could start with 10USDT or even 5 USDT could work too. There is even simulation for it, why not try it? CoinTiger is very kind in this aspect :)
Q3: Does this group come with fees?
Dickson: It’s free all the time, everyone is welcome. But there’s a minimum requirement, you need to bind your CoinTiger UID to @TigerRobot in order for me to identify whether you are a real user.
Q4: How to start trading contracts?
Dickson: First, you need an account. Second, follow my orders or try it your own. Here’s the tutorial mentioned earlier: https://cointiger.zendesk.com/hc/en-us/articles/360036531673. Feel free to ask me questions related to Perpetual Contract in PM or in the group. I am more than happy to help :)
Q5: What are the Currency standard and USDT standard means?
Currency standard means you are using a specific currency for trading the same currency. For example, if you’re using BTC to open positions, only BTC positions can be used for BTC. USDT standard means you could use USDT to open positions of the other currencies such as BTC or ETH.
Session 3: Multiple-Choice-Questions
The correct answers will be bolded
Q1: Which area is Dickson Specialised in?
A: Spot trading
B: Arbitrage trading
C: Hacking
D: Contract Trading
Q2: Which of the following statement is not correct?
A: Transfer all your trading assets into contract account to open positions
B: Only invest what you can afford
C: Do not FOMO
D: Always set stop losses
Q3: What is a Perpetual Contract?
A: Same as spot trading but with only leverages
B: Forex trading
C: A margin-based spot market and hence trade close to the underlying reference Index Price
D: A gambling product
Q4: What are the currency standard orders available on CoinTiger’s Perpetual Contract?
A: USDT only
B: USDT, BTC only
C: USDT, BTC, and ETH
D: EOS, BTC and ETH
Q5: Which of the following are the leverages exist respectively on CoinTiger’s Perpetual Contract?
A: 5x 10x 20x 50x
B: 1x 5x 10x 50x
C: 10x 20x 50x 100x
D: 10x 20x 50x 120x
In conclusion, Dickson Magic talked about the general knowledge about Perpetual Contract and the basic investment tips for the beginners.
AMA Past Recaps:
#1. Mogu ($MOGX)
#2. Everipedia ($IQ)
About CoinTiger
CoinTiger(www.cointiger.com) is the first crypto exchange to introduce an equity mechanism with its native TigerCash (TCH) token. CoinTiger has listed 133+ tokens and worldwide users stood at 3 million across 150 countries with a ratio of 34% Chinese and 66% international users.
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