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RE: Crypto Academy Trading Competition | S6T2| - Team Reminane

in SteemitCryptoAcademy • 3 years ago

Yes, you can. When u buy an asset in the spot market, the point you sold it back is either your stoploss or your take profit. But identify these points on your chart during technical analysis.

3 years ago in SteemitCryptoAcademy by
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     3 years ago 

    Okay, thank you very much, Prof.

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     3 years ago 

    For a sell order in the spot market, is the entry same as take profit?
    Because after selling, the trader no longer holds the asset to make future profit or loss.

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     3 years ago 

    When you predict the price of an asset to decline, you can sell the asset and buy it back when it falls.

    For example, if you sell 10 STEEM/USDT @ $0.33, you will have more STEEM When buy back at @ $0.25. Then you can calculate how many Steem you have made and multiply it with the current price. If this is confusing, you can consider only buying positionin the spot market or you trade using the futures market.

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     3 years ago 

    Okay, thank you, I have the clarity now.