Crypto Earning Contest $410 in Prizes - Sponsored by Walbi ​ 💰💰

[CristinaC]

Task 1: 482659

Task 4

Edited Saturday at 09:42 PM by CristinaC

[MrAdmin]

Members who completed task 4: @musketeer, @CristinaC, @BuggyMan

[⭐ musketeer]

On 6/27/2024 at 8:48 AM, Kunal said:

Task 4: [Jun 27-Jun 29] Make a deposit and share feedback about your experience (deposit methods, currency, overall process) here in the forums.

Uh-Oh!

Using $$ for margin is illegal here.

Sometimes it is safer, believe me 🙂

[⭐ Kunal]

9 hours ago, musketeer said:

Sometimes it is safer, believe me 🙂

The problem is that using local currency for margin is legal, but $$ is not.

[MrAdmin]

The winner of the task 4 is @BuggyMan! Congratulations!

Here is the lucky draw recording:

[⭐ musketeer]

18 hours ago, Kunal said:

The problem is that using local currency for margin is legal, but $$ is not.

I couldn't understand, can you explain?

[⭐ Kunal]

3 hours ago, musketeer said:

I couldn't understand, can you explain?

I can trade anything as long as I use local currency as margin.

FX brokers and others need $$ to be deposited for margin which the central bank here has made illegal.

To send $$ to the broker, I have to buy $$ from my local bank. The bank will allow me to buy $$ to be used to buy shares in the US, but NOT to be used for leverage.

It is a non-bailable, jailable offense.

Edited Monday at 09:18 AM by Kunal

[⭐ musketeer]

wow! it sounds terrible to me...

then, I suppose, if you may get crypto with local currency, all is good?

[⭐ Kunal]

Traders here have to live with it. I don't have a forex account cos the brokers accept only $$.

There are people here who trade forex/crypto but get the deposit made from a friend or relative. I can get $$/crypto paid to me via Paypal but cannot hold it.

According to govt rules it has to be converted into local currency within a few hrs and sent to my bank account whether I like it or not.

 

 

[MrAdmin]

Task 5/8 [Jul 1 - Jul 3] Open a trade with an AI signal and share the feedback with us.

[⭐ musketeer]

15 hours ago, MrAdmin said:

Task 5/8 [Jul 1 - Jul 3] Open a trade with an AI signal and share the feedback with us.

Do you mean to follow buddies advises, from Mommy, Carlos or MC Whale?

[⭐ musketeer]

Well, I've tried one signal from MC Whale, long BTC.

It is convenient that a deal can be concluded directly from the signal, and this happens immediately - click and you are in position. What is extremely inconvenient, however, is that this signal disappears, and if you haven't marked a target and a stop in advance, you already have to interpret - you can't follow them, because they aren't there.

There is no history of signals, even the last ones, let's say 5. Or at least on  that one (or more) where you have opened a position.

That's an initial impression, when I have more experience I will share here.

 

Edit:

Well, that was my bad: there are no recommendations about SL and TP in the signals. One must use a common sense about these. But still, I believe that a history of signals (includein g time stamp when they started) could help evaluating and assessment of.

Edited 23 hours ago by musketeer
update

[⭐ musketeer]

On 7/1/2024 at 4:16 PM, Kunal said:

Traders here have to live with it. I don't have a forex account cos the brokers accept only $$.

There are people here who trade forex/crypto but get the deposit made from a friend or relative. I can get $$/crypto paid to me via Paypal but cannot hold it.

According to govt rules it has to be converted into local currency within a few hrs and sent to my bank account whether I like it or not.

 

 

I am pretty sure that there are (regulated in some way) brokers that accept crypto like USDT. Probably that is a solution...

[⭐ Kunal]

7 hours ago, musketeer said:

I am pretty sure that there are (regulated in some way) brokers that accept crypto like USDT. Probably that is a solution...

There is one more problem. Legally, I'm allowed to only trade forex on the exchange here. Not on other exchanges.

Nothing stops me from trading an account of a relative in another country.

 

[MrAdmin]

Folks, this is the last day you can submit the solution for Task 5 of the contest. You should open a trade with the help of AI and share the feedback on PM with me or here in the forums!

People who send proof already are: @BuggyMan, @musketeer

[⭐ musketeer]

1 hour ago, Kunal said:

There is one more problem. Legally, I'm allowed to only trade forex on the exchange here. Not on other exchanges.

Nothing stops me from trading an account of a relative in another country.

 

yes, with the risk of account takeover by the legal owner... I see that is a tough situation

Edited 1 hour ago by musketeer
typo

[⭐ musketeer]

Well,

apart from what I said earlier that it is good to have a history of these signals, I would add that one has to understand quite well how to open a position (in the volume part of it).

Coming from margin forex trading, it is quite unclear to me and confusing, but this is of course not related to AI 🙂

In fact, if the AI at least gives targets (even without the stops) it would be nice, as a kind of estimate of how likely this signal is to make a profit.

Forgot to mention: made 4 trades based on AI signals (but just for the direction - no SL/TP given)

3 wins, 1 loss

Edited 1 hour ago by musketeer
trades part