Bracket Order Competitions Guide
Welcome to CoinFLEX Competitions Rebel FLEXers!
With our gamified competitions mode, you can become an organiser by creating your own competition. Organisers can set their own parameters including start time, duration, scoring method, prize distribution, and more.
Competitions will run with leaderboard rankings based on the ratio of “Bracket Order Traded Volume ÷ Deposits” or “Bracket Order Traded Volume + PnL”.
Below is a full guide teaching you:
1) How to create your own competition
2) How to apply a competition
3) How to do Bracket Order trade
Light-saber’s at the ready, may the FLEX be with you!
Create your own competition
1. In Dashboard, click “COMPETITIONS”
2. On top right, click “Create Competition”
3. Here you can set the parameters for this battle room.
Name: Set a name for your battle room
Audience: Set the game to public or invitations only (right now only Public option available)
Qualifying Orders: Set the order type for this battle
Performance scoring: Set the criterion for ranking
Competition start: Set the starting time of the battle (UTC time)
Duration: Set how long the battle lasts, from 10min to 6hours
After that, click “Next”.
4. The next step is to set the Prize & Deposit details
Participant deposit: The minimum deposit required to join the competition
Participant contribution: Participation fee for each participant to join the competition. These fees will be put inside a prize pool for the winners
Organizer contribution: Will be put inside the prize pool. The higher the amount, the more attractive this battle room will be
Winning rank payouts: Set the number of winners and how much percent they can get from the prize pool
When all are set, click “Activate and Run Now”
5. Then you will see your battle room has been created on the competitions page, ready to FLEX!
6. If you want to edit the details of the competition or cancel it. Just click “My Competitions”
Join a competition
1. Find an attractive battle room and click “Join Competition”. And of course, you may join your own competition.
2. Create your own handle and Submit
3. Now you are already a participant in this battle!
4. You can see your rank in the Leaderboard of the battle you applied. When the competition starts, go to CoinFLEX EXECUTE and start trading!
Bracket Order Trade
In order to win the battle, you have to do as many Bracket Order trades or earn as much as you can, depending on the scoring method set in the battle room.
In case you do not know what is Bracket Order, please visit here: https://coinflex.com/blog/the-bracket-order-a-simple-way-to-manage-risk/
1. In TT ladder, select Bracket TT from Order Types
2. Set the Profit Target and Stop Loss for your Bracket Order and then click ”>”
Profit Increments: Profit target; The number of ticks away from the price of the initial order that corresponds to the profit-taking direction. For instance, the tick size of XBT is 0.5, meaning that 1 tick equals 0.5 USDT
Loss Trigger Increments: Trigger price for this Stop Limit order, also measured in ticks
On Trigger, Payup Increment: Sets the number of ticks away from the trigger price to submit a Limit order
3. Now all things are set, you are ready to trade! For you do not know how to trade or how does Bracket Order work, please visit here for a full guide: https://coinflex.com/blog/how-to-trade-with-the-bracket-order/
Lastly, when the competition has ended, come back to the Battle Room to see if you are the winner!