How do Bracket Order Competitions work?
The bracket order is a strong and sophisticated method for traders to manage risks. It also helps them reduce regular or even hour-to-hour monitoring pressure. In other words, a bracket order will at first submit a limit order. Once filled, it will automatically be submitted to OCO (One-Cancels-Other) order. This OCO order is set against a profit target and a loss stop offset against the initial order price.
CoinFLEX announced recently a hybrid manual / automatic scalping order. This order will be used for its trading app called bracket orders. Users may order bracket commands for different profit margins. This is between deals and on the orderbook of CoinFLEX.
The best platform to experience how bracket order competitions work at Coinflex. These competitions usually have a lot of prizes for those who become winners. This competition is mainly available for scalp traders.
How the competition is conducted
This bracket order competition works based on the CoinFLEX update of its manufacturer/taker FLEXMaker system. This system incorporates FLEX token into the low-priced DMM form of the exchange. It is increasingly becoming clear that there will be a preferred exchange. This will majorly be in the institutional interest and big traders’ aspirations. Nevertheless, several major players are currently pursuing connections with different exchanges. This will help them to keep up with the competitive and growing market for cryptoderivatives.
What is the prize for the competition?
A 100k USDT prize pool will be held for users at the Bracket Order Competition (BracketWars). This will help the users of CoinFLEX to learn the ropes of the new trading tool. The market involves two tiers of initial collateral to join the competition and the top 20 traders will be awarded from the pool.
In a critical sense, this bracket order competition works by preventing bots and algos from participation. This is because bracket orders require the trader’s manual selection. The scalp and the manual execution of the scalp are also a great deal of compromise for retail traders.
The world retail market for crypto is massive. Developing CoinFLEX bracket orders together with many other products is a great move to help retail traders. This especially works for those who are not willing to indulge in higher leverage swing trade. This higher leverage trade will mainly be experienced in crypto future contracts.
How to enroll in this competition
This competition doesn’t have a lot of requirements for you to participate. All you need to get into this contest is a starting deposit. This is essential in the case of two different competitive levels. This amount is required to start the contest on the future assets of XBT. Dec or USDT.Dec immediately at the beginning of the contest.
Why participate in bracket order competition?
Bracket orders allow you to create a schedule before or after a position. For predefined profit-and-loss rates, you can position equity and option orders. You can also easily add a bracket after placing the order. Bracket order competitions also give you a simple and direct way of managing risks.
How can you become a winner in the competition?
The “FLEX multiple” (FM) metric is the key calculation for getting a winner in this competition. Over a certain period, participants are rated using FLEX Multiple. And as many of the initial volumes are sold the better. This does not depend on the balance of customer account but the various volumes! Each client has a winning opportunity.
Can’t bots and algos automatically win since this competition is based on volume?
Not at all! This is because bracket orders have to be inserted manually via the trading interface. This process is essential for anyone to qualify for the competition. If any member is discovered using the automated bracket orders, then he or she will be disqualified. This is according to the fair play guidelines of the competition. Decision making is solely dependent on these terms.
CoinFlex uniqueness in the competition
The smooth interface for CoinFLEX is already popular with traders. It is based on a tool suite of traditional giant trading technologies. The low-cost model combined with FLEX token stake also appeals to market manufacturers and prop shops.
Major financial institutions and experienced scalpers are highly aware of Trading Technologies ‘ toolkit in traditional markets. The app from CoinFLEX is now compatible with bracket order, this makes it an amazing commodity.
These bracket order competitions work as highly attractive trading contests. CoinFLEX now plans to launch new trading challenges with more design improvements, trading tools, and reward updates. CoinFLEX offers several approaches to many of the competition for vanilla trading models. This is also offered by other exchanges amid several exchanges jostling for superiority in the budding cryptoderivatives market.
It is tough to be special in the crypto industry. This is mainly triggered by the situation whereby everybody wants to challenge mainstream finance. However, CoinFLEX has an eye for differentiation due to its great work and approach.