All posts in "Tutorials"

FTX Futures Trading – The 10 STEP Beginners Guide

By Krisha A / December 22, 2021

Note: This is not a sponsored post/series. Crypto on-boarding is important to us, so we only review exchnages we use. 

Upon doing a basic Google search on “FTX”, the first and most popular question asked is:

Q) “Is FTX legit?”
A) The short answer is, “YES, it is!". 

We've been using the FTX exchange for well over 2 years now. Primarly to trade the Spot & Futures markets. From our experience we've found that FTX's features and bugs are constantly being improved and fixed. Additionally, we've also witnessed an increase in trading volume. Which, for most traders, should be an important attribute they look for on any exchange they plan to actively trade on.

While the FTX exchange could use some UX imporovements, it doesn't fail to provide value in all other aspects. FTX has continued to improve on and deliver new features and products around the latest innovations and trends in the cryptocurrency market. 

FTX Futures Trading 10 STEP YouTube Tutorial Guide:

STEP 1: How to create your FTX Account + KYC Process?

In this video, we create an FTX acoount, and go through the FTX KYC process. While signing up for an account on FTX for an account is starightforward, it should be noted that level 1 KYC is required to use the FTX exchange to any extent.

The FTX exchange has 2 Levels of KYC:
Level 1:  Your Name, Country of Residence, DOB and Phone Number for verification
Level 2: Government Issued Photo ID (front & back), Selfie and proof of address

Completing ONLY level 1 of KYC will prevent you withdrawing more than $2000/day from the exchnage, and will also prevent you from trading on leverage. Hence, in order to unlock all features of the exchange, you MUST complete FTXs' level 2 KYC verifictaion.

STEP 2: How to Deposit and Withdraw margin into your FTX account?

STEP 3: How much do you pay in: FTX Spot Trading Fess, FTX Perpetual Futures Fees & Quarterly Futures Fees

STEP 4: What is the Difference Between FTX Perpetual Futures and FTX Quarterly Futures

(Timestamps  1:03-1:53)

STEP 5: How to margin LONG (buy) altcoins on FTX?

STEP 6: How to set a Stoploss on an FTX LONG Trade?

Premise of a LONG Trade: Taking a LONG trade on an FTX futures contract would imply that a trader has bought X amount of a cryptocurrency in anticipation for prices to go higher. So, logically, in order to:

1) "Take Profit" - a trader would SELL their position at a price GREATER THAN what they bought it for

AND to..

2)"Stop their Losses" - a trader would  SELL their position at a price LOWER THAN what they bought it for

In either case, the action being executed by the trader is a SELL action. Irrespective if the trade is executed at a profit or a loss. Hence, on a LONG futures Position, 
Your Stoploss AND Take-profit order needs to be executed on the Sell Side in the order box

Asssumption: "Limit Stoploss" orders can be used to express other trade intentions. However the explanation below is written with the assumption that a trader intends on exiting a losing trade.

FTX Setting a Stop-limit order on a LONG (Buy) Trade (Breakdown):

1) "Trigger Price" - Is the price point a trader says, "Enough is enough. I need to cut my losses". Hence, your "Trigger" Price has to be lower than your entry price. This trigger price is also known as the the "Stop price".

2) "Limit Price" - Is the price point your Sell Order gets executed at. 

3) "Amount" - The Amount is 'how much' of the asset you choose to sell

To put this into context lets use an Analogy of Archery:
The "Trigger Price" would be akin to the moment an archer releases tension from an exteded arrow, and the "Limit price" would be akin to the moment the Arrow hits the target.

The trigger price reflects your intention to Sell, the "Limit Price" is 'What price you sell at'. So when the price of an assets starts trading at (or below) your "Trigger Price", your "Limit order" will only then be placed on the orderbook.

Similar to an archer who cannot hit his/her target before they they release (trigger) their bow, your limit order will not get executed before your "Trigger price" is met.

STEP 7: How to SHORT (selling) on FTX?

Q) Not sure what Short Selling is?
Here's a beginners guide to
"What is a short sell?", and "What is a short squeeze?"

STEP 8: How to set Stop Loss on FTX SHORT SELL trade?

Asssumption: "Limit Stoploss" orders can be used to express other trade intentions. However the explanation below is written with the assumption that a trader intends on exiting a losing trade.

Premise of a SHORT Trade: Short Selling an FTX futures contract would imply that a trader has sold X amount of a cryptocurrency in anticipation for prices to go lower. So logically, in order to:

1) "Take Profit" on a Short Trade - a trader would BUY BACK their position at a price LOWER THAN what they sold it for

AND to..

2)"Stop their Losses" on a Short Trade - a trader would BUY BACK their position at a price GREATER THAN what they sold it for

In either case, the action being executed by the trader is a BUY action. Irrespective if the trade is executed at a profit or a loss. Hence, on a Short Sell Position, your Stoploss AND Take-profit order needs to be executed on the Buy Side in the order box

Asssumption: "Limit Stoploss" orders can be used to express other trade intentions. However the explanation below is written with the assumption that a trader intends on exiting a losing trade.

FTX Setting a Stop-limit order on a SHORT Sell Trade (Breakdown):

1) "Trigger Price" - Is the price point a trader says, "Enough is enough. I need to cut my losses". Hence, your "Trigger" Price will be GREATER than your entry price. 

2) "Limit Price" - Is the price point your Buy Order gets executed at.

3) "Amount" - The Amount is 'how much' of the asset you choose to Buy back.

The "Trigger Price" reflects your intention to Buy Back; the "Limit Price" is 'What price you buy at'. So when the price of an assets starts trading at (or above) your "Trigger Price", your "Limit order" will only then be placed on the orderbook.

Similar to an archer who cannot hit his/her target before they they release (trigger) their bow, your limit order will not get executed before your "Trigger price" is met.

STEP 9: Three ways to prevent Liquidation

STEP 10: How to Isolate Margin on FTX? 

Continue reading >
Share

Diving into Fibonacci Retracements – Part 3

By Olley / September 9, 2021

In this Part, I will show you how to set up your Fibonacci Retracement tool, how to customize and use it. I will then thoroughly explain some chart examples, what to look for, and how to apply other technical analysis concepts to retracements. This will help find areas of confluence that should give you an idea of how you can implement this into your own strategy to provide some extra edge.

Page 1:
-> Setting up & customizing your Fibonacci Retracement tool.

Page 2:
-> Example 1 is a simple bearish retracement & explanation.
-> Example 2 shows how you can look for a higher low after a break in a downtrend.
-> Example 3 shows how you can add an additional piece of confluence to your retracement.

Page 3:
-> Example 4, a thorough explanation on finding multiple parts of convergence with your retracements. By using additional indicators, and other time frames
-> Additional tips when placing a retracement.
-> Summary of Fibonacci retracements.


Setting up the Tool:

Firstly, to find the Fibonacci Retracement tool on TradingView, navigate to the drawing tools on the left side. Click on the third option down from the top.
Then select the ‘Fib Retracement’ tool.

Choose Fib Retracement

Next, you will want to set up your Retracement tool with the numbers I showed on the previous part, and any others you may want to add yourself.

To do this, you will need to place a retracement onto the chart anywhere, and then double click it once applied, or find it here by clicking on the Settings icon:

This toolbar gives you basic options such as changing the thickness of the lines, changing the colours, deleting it etc.

Customize your tool:

Here is what my Retracement tool’s menu looks like, feel free to use what I have or add/change the values and the colours on your own. I recommend using certain colours that you like to make your chart as personalised as possible, I find it makes charting easier when you are familiar with the style of your chart.

You can see I have some other Fibonacci numbers there, 0.886 & 0.236. Which I turn on and off depending on the scenario.
If you want all of your lines to be the same colour, then click on the “Use One Color” option to do so.

If you prefer you can also turn on a background colour to make your retracement tool stand out more.

Now, once you have finished setting your tool up, I highly recommend following this next step:

When you have entered all of your levels, colours etc, setting it up as a template is definitely a good idea in case you lose the edited version, or if it accidentally resets to the default. This way you can quickly turn on your pre-made Fibonacci retracement tool with no worries.

Click on your retracement, or find this option in the settings menu. Then select the “save drawing template as” option.

Then give it a name. This is an example of how you may want to set them up:

Add the Fib Retracement to your favourites, this will display it on a Favourites drawing toolbar. (See next image).
  1. Add to favourites, click or tap the star icon.
  2. Displays the favourite toolbar. You can toggle this on/off by selecting it.

This is what my Drawing Toolbar looks like. You can also add any other tools to this, completely up to you.

I like to have the tools on there that I always use for my technical analysis.

Next page 👇

Continue reading >
Share

Using Fibonacci in Technical Analysis – Part 2

First of all, I would like to point out in this series I will be covering Fibonacci retracements and extensions only for now. The reason being, I want to showcase the most simple and most mango way to implement Fibonacci into your own analysis.

Personally, I do not use these Fibonacci tools solely on their own, but in confluence with other indicators or methods of analysis which (I will touch on some briefly later in the series).

Fibonacci Retracements

Fibonacci retracements come from ratios used to distinguish possible reversal levels, or support and resistance zones (S&R* zones). These ratios are from the Fibonacci Sequence. 

A Fibonacci retracement is made up by taking a low and high point of a trend, then dividing the distance between them by Fibonacci ratios (23.6%, 38.2%, 61.8%). This plots out horizontal levels between the two anchor points.

A retracement can be seen as a pause in trend, or a higher time frame pull-back, which can be an edge for getting into larger trends at possibly better entries when used in a strategy with other indicators. A retracement is not a reversal, because, after a retrace, the price will usually continue in the same direction as the former trend.

Furthermore, retracements are a stationary tool so naturally, they give confluence with already priced in areas of support or resistance. But also price usually respects them more compared to other “reactive” or “lagging” indicators like Moving Averages because they are not reacting to price action and are fixed S&R*.

Each retracement level represents a Fibonacci percentage or ratio.
However, some traders may not strictly use numbers derived from Fibonacci, mainly as a personal preference. For example, I actually use 0.35, 0.5 & 0.65 as I have found these to add extra edge and confluence in my analysis’ which I will go over further in the series.

Simple Visuals for different Retracements:

Bullish Fibonacci retracement:
Price is trending up, and has a pause in the uptrend, essentially creating a higher low. Also seen as an opportunity in the market to enter longs at lower prices to position for another impulsive move upwards.

Also, any shorts may exit their positions around the same Fibonacci levels, as they anticipate a higher low. They want to get out before the price starts moving against them, especially if it’s a bullish trend.

Bearish Fibonacci retracement:

Price is trending down, and has a pause in the downtrend, essentially creating a lower high. Also seen as an opportunity in the market to enter shorts at higher prices for another impulsive move downwards.

Also, any longs may exit their positions around the same Fibonacci levels, as they anticipate a lower high.

The Most Common Retracements:

For now, I will provide examples of the most commonly found retracement levels (or ratios), and ones that I have found to be respected the most.  

  • 0.236 or a 23.6% retrace. 
  • 0.382 or a 38.2% retrace.
  • 0.618 or a 61.8% retrace. 
  • 0.786 or a 78.6% retrace. 

Additionally, you can implement a 0.5 or 50% retrace, although it is not a Fibonacci number, often traders will use it as a midline or median point between a swing high and low as it frequently gets well-respected as a level.

[ *Tip: I added two extra retracements to my tool, the 0.35 and the 0.65 values. The reason I do this is to simply mark out zones so I can more easily find confluence with other tools like analysing horizontal support/resistance from price action. ]

Fibonacci levels have been marked out on the chart below as a visual reference.

In this example you can see how after Bitcoin bottomed out in the $3-4k region, it manages to retrace and find resistance firstly at the 0.382 zones, then also rejects the 0.618 retracements (this was almost to the wick high perfectly). What previously is resistance is then used as support as it based right along the top of the yellow 0.382 zone before breaking below it and seeing a deeper correction.

I used this Bitcoin example as I know a lot of you reading this will be familiar with this particular chart, and for those who haven’t seen this Fibonacci retracement example before you may find it interesting, to say the least.

Calculating Fibonacci Retracement values:

23.6% – This is when you divide one number by another number three places to the right in the sequence. For example, if you do 13/55, or 21/89. These equal approximately 0.236 or 23.6%. 

38.2% – This is when you skip a sequence in the division. For example, if you do 21/55, or 55/144. Another way to get it is: 0.618². These equal approximately 0.382 or 38.2%. 

61.8% – This is when you divide the current number in the sequence with the next number (starting from 13). For example, if you do 34/55, or 55/89. These equal approximately 0.618 or 61.8%. 

78.6% – Simply put, is when you get the square root of 0.618. For example √0.618.

0% and 100% are not actually Fibonacci numbers but represent the start (first anchor point) and the end of the retracement (second anchor point). 50% is midline or the median between the two.

 

Fibonacci Extensions

Fibonacci extensions are ratios formed by the Fibonacci sequence, these ratios are applied to a high and low point that create extensions beyond the 100% retracement level (first anchor point).

Extensions are commonly used to establish projected areas of projected support and resistance that can form when assets are in price discovery (making new highs or lows), or where there is little/no price history for you to use obvious horizontal support and resistance lines (or other similar methods).

However, extensions can be used when a chart is not in price discovery as they can provide additional confluence to your levels using existing support and resistance zones or other indicators. (I will touch on some examples of this in another part of the series).

Simple Visuals for different Extensions:

Fibonacci extension – Uptrend:
Price is trending up (higher highs & higher lows) and has a pause in the uptrend, essentially creating a higher low. Once the higher low is confirmed, the price moves up past the previous high and beyond.

Extensions can become targets for longs to exit positions, or to take profits.

Fibonacci extension – Downtrend:
Price is trending down (lower lows & lower highs) and has a pause in the downtrend, essentially creating a lower high. Once the lower high is confirmed, the price moves down past the previous lows and beyond.

Extensions can become targets for shorts to exit positions, or to take profits.

The Most Common Fibonacci Extensions:

Here are some of the most common Fibonacci Extension ratios, I will point out the ones I would recommend as a start because you can always try new ones and implement them later. Ultimately you can decide which ones you would like to use, this is just a general guide to try to help narrow your focus.

  • 1.272 or a 127.2% ratio.
  • 1.414 or a 141.4% ratio.
  • 1.618 or a 161.8% ratio.
  • 2.36 or a 236% ratio.
  • 2.618 or a 261.8% ratio.
  • 4.236 or a 423.6% ratio.

As seen below, these are the Fibonacci extension levels I have decided to recommend for starting off.

This is a simple example of how to place an extension, you can see the values I have used here:
1.272, 1.618, 2.36, 2.618.

You can see how the price didn’t really respect the 1.272 level much, whereas with the other three extensions it respected them much more obviously (evident with the 2.618 around the top).

This is only a brief explanation of how you can use this tool in your technical analysis but I will give a deeper explanation & tutorial in the upcoming part of the series, ‘Diving into Fibonacci Extensions’.

Calculating some Fibonacci Extension values:

127.2% – Is the square root of 1.618: √1.618

161.8% – Divide the next number in the sequence with the current number (these are covered in Part 1 when explaining where the golden ratio comes from).

236% – This is from removing the decimal place from “23.6%” and making it “236%”.

261.8% – Divide a number by two places to the left in the sequence and it equals roughly 2.618.
Also calculated from 1.618².

423.6% – Divide a number by three places to the left and the ratio equals approximately 4.236.
Example: 377/89 = 4.23595.

Other extensions that show up are actually not derived from the Fibonacci sequence, but use existing Fibonacci numbers that are and add 100% or 200% etc to the number. For example, the 361.8% & 461.8% ratios are just using the base of the 161.8% golden ratio and replacing the first 1 with 3 and 4.

The reason these ratios still may work is that as an asset continues to go further into price discovery the higher the relevant extension ratios become. Often traders will use these more ‘uncommon’ extensions like 361.8% or 427.2% as they might be the only way to gauge potential points of support or resistance.

This should give you a decent starting point and overview of Fibonacci Retracements & Extensions, and hopefully, you have learnt something new.

Part 3 is the next in the series, and that is solely focused on Fibonacci retracements.

Our Mango Socials

If you enjoyed this article and want to stay up to date with more to come, please join the discussion in our Community through Discord.

If you’re a trader, technical or fundamental analyst wanting to learn trading the Mango way, please check out the Mango Seed Program and join the Seed fam. Make sure to also reach out to some Seedlings who are in the program to get another perspective on their experience. 

Tutorials

FTX Futures Trading – The 10 STEP Beginners Guide

Note: This is not a sponsored post/series. Crypto on-boarding is important to us, so we only review exchnages we use. This FTX Trading Guide highlights 10 Steps to help you get started with futures trading: 1) FTX Exchange



Read More

December 22, 2021

Note: This is not a sponsored post/series. Crypto on-boarding is important to us, so we only review exchnages we use. This ...



Read More

September 9, 2021

In this Part, I will show you how to set up your Fibonacci Retracement tool, how to customize and use ...



Read More

September 6, 2021

First of all, I would like to point out in this series I will be covering Fibonacci retracements and extensions ...



Read More

Continue reading >
Share

Binance Margin Trading – The 10 STEP Beginners Guide

By Krisha A / December 9, 2019

In this Binance Margin Trading 10 Step Guide, Krisha goes over the following:
Binance Margin Account Setup; Deposits & Withdrawals; Margin Level & Liquidations; Binance Long Trade; How to Short on Binance & OCO Order Setup

Binance Margin Trading has opened a new window of opportunity to traders everywhere. Much of the allure of trading cryptocurrency stems from its price volatility. However, until recently, the average crypto trader could leverage trade only the top tier Cryptocurrencies (BTC, ETH, XRP etc). 

Binance Margin Trading is a game changer as it now allows leverage trading on a series of other high volatility Altcoins besides the status quo top 5 Cryptocurrencies in the market. Traders can now Margin Short Altcoins in downtrends, and Margin Long Altcoins in Uptrends. 

Binance Margin Trading 10 STEP YouTube Tutorial Guide:

STEP 1: How to set-up your Binance Margin Trading Account?

STEP 2: How to Deposit and Withdraw margin into your Binance account?

STEP 3: What is the max leverage on Binance margin exchange? 

**UPDATE: Binance recently increased their MAX Leverage to 5X on their margin trading pairs**

STEP 4: How much do you pay in: Binance Margin Trading Fess, Binance Margin Interest & Liquidation fees?

STEP 5: What is the Binance Margin Level? and how to read it?

STEP 6: How to margin LONG (buy) altcoins on Binance?

STEP 7: How to SHORT (selling) on Binance?

Not sure what Short Selling is?
 
Here's a beginners guide to
"What is a short sell?", and "What is a short squeeze?"

STEP 8: What are Binance OCO Orders?

Setting tradestops and take profit on your Binance margin trade is not the most intuitive process. Unlike other margin exchanges, traders can only "reserve" their tokens/coins for any one given order on the binance exchange. Example: If you have a LONG trade on for 10 BTC (quantity), you can either only 'reserve' your 10 BTC on a Take Profit order, OR 'reserve' it on a Stop Loss order. You cannot have both on at once. However, Binance has managed to solve this issue with OCO Orders.

OCO is an abbreviation for "One Cancels the Other". When broken down simply, an OCO order acts as a Stop loss AND a Take profit order. Wherein, if one gets triggered, the other gets canceled - It is the Binance equivalent of setting a stoploss, and a take profit on any one particular margin trade. That way you're taking profits if the trade goes in your favour, and stopping your losses if it doesn't. 

Note there is only one position size field in the OCO order. Hence, the size remains the same for the take profit, and stoploss. 

STEP 9: How to set Binance Margin LONG Stoploss & Take Profit (Using OCO)

Taking a Margin LONG Position would imply that a trader has bought X amount of a cryptocurrency in anticipation for prices to go higher. Applying the logic of, "Buy low, Sell High".  

So it implies that he/she would set a Take Profit order at a price GREATER THAN what he/she bought it for. And would set a Stop Loss order at a price LOWER THAN what he/she bought it for. 

Either way, the action being executed by the trader is a SELL action. Irrespective if the trade is executed at a profit or a loss.

Hence on a Margin LONG Position, your OCO order needs to be executed on the Sell Side in the order box

The first field on the order block is "LIMIT" Price : This is the price that you want to "Take Profit" at. Hence, the "LIMIT Price" has to be higher than your entry price.

The second field on the order block is your "Stop-Limit": This is the price that you want to "Stop Your Loss" at. 
 
1) A "Stop" price in expression is the price point a trader says, "enough is enough. I need to cut my losses". Hence, your STOP Price has to be lower than your entry price. This stop price is also known as the the "trigger price" - It is only when THIS price gets "triggered" does you "Limit" Price (below) get onto the order book. 

2) But now the question is "Where do you cut your losses? at what price do you sell?" - This price is going to be your
"Limit" Price. Your "Limit" Price also has to be lower than your entry price.

3) The "Amount" is how much you choose to set the order for. However NOTE that your take profit and your stop loss will be executed for THIS same amount.

**Binance OCO YouTube Video Tutorial Coming Soon**

STEP 10: How to set Binance SHORT SELL Stop Loss & Take Profit (Using OCO)

Taking a Margin SHORT Sell Position would imply that a trader has sold X amount of a cryptocurrency in anticipation for prices to go lower. So it implies that he/she would set a Take Profit order at a price LOWER THAN what he/she sold it for. And would set a Stop Loss order at a price GREATER THAN what he/she sold it for. 

Either way, the action being executed by the trader is a BUY action. Irrespective if the trade is executed at a profit or a loss.

Hence on a Margin SHORT Positions, your OCO order needs to be executed on the Buy Side in the order box

The first field on the order block is "LIMIT " : This is the price that you want to "Take Profit" at. The LIMIT Price has to be LOWER than your entry price (you'll be buying back your crypto at a lower price than what you sold it for. cha-ching!)

The second field on the order block is your "STOP-LIMIT": This is the price that you want to "Stop Your Loss" at. 
 
1) The "Stop" price in expression is the price point a trader says, "enough is enough. I need to cut my losses". The Stop Price has to be GREATER than your entry price. This stop price is also known as the the "trigger price" - It is only when THIS price gets "triggered" does you "Limit" Price (below) get onto the order book. 

2) But now the question is "Where do you cut your losses? at what price do you Buy Back at?" - This price is going to be your
"Limit" Price. The "Limit" Price also has to be GREATER than your entry price.

3) The "Amount" is how much you choose to set the order for. However NOTE that your take profit and your stop loss will be executed for THIS same amount. 

**Binance OCO YouTube Video Tutorial Coming Soon**

Continue reading >
Share

How To Stake Your WINGS Tokens

By Krisha A / January 18, 2018

Mango Research will be looking into various coins/tokens that allows its holders to earn dividends/rewards by simply staking their coins, or participating on platform events. One such token is the WINGS Token

Wings is a blockchain based, ICO crowdfunding platform. It allows individuals and organization to submit new proposals to the WINGS community (Wings token holders) to forecast on. Both, proposal submitters, and the WINGS community can earn rewards for the creation and forecasting on new proposals. Proposals could vary from a projects ability to raise funds, or meet certain milestones. The more accurate your forecast, the more rewards you stand to gain.

This incentive-based model was designed to encourage participation in filtering out unworthy blockchain projects from high potential/quality blockchain projects.

The WINGS Staking Process

Do not perform these tasks on public/shared computers

Step 1: Sign-up for an account on WINGS.ai

  • Forecasting on a project on the WINGS platform will require you have an account
  • To sign-up for an account, click the "Login" button on the top right hand corner of the WINGS home page, and navigate to the "Create new account" tab
  • This account will generate a wings token address, to which you send your wings tokens. Your WINGS token address can be found under your profile info (top right-hand corner of the WINGS home page)
  • The WINGS tokens in this wallet are the tokens that will be locked in during each forecast (Number of tokens locked in will be the number that you specify during the forecast)

WINGS Token address generated upon account creation

WINGS Token address found under user profile tab

Step 2: Identify & research projects on the WINGS platform

  • Navigate to the WINGS home page to discover live forecasting projects. The forecasting status of the project can be found on the upper right corner of the project thumbnail
  • Since the WINGS reward distribution depends on the accuracy of your forecast, it is beneficial to research the project to make an educated forecast
  • To lead your research efforts, click the project thumbnail to find additional information on the project, the forecast reward, and the forecast start and end dates

Research Tip
Don’t lose sight of the project proposal you’re forecasting on (Ex: If the objective is to forecast the amount of funds that will be raised by a project, check to see if there’s a hard-cap)

Step 3: Sending Funds & Checking Balances

  • In addition to WINGS token, users will be required to have ETH on their account to forecast - 0.01 ETH should be more than enough
  • Since Ethereum smart contracts are executed during forecasting, you will need some Ethereum on your account for transaction costs - aka GAS Costs
  • Users can check their token/crypto balances under the send tab on the user profile. Use the drop down menu to select the token/crypto you want the balance of

This WINGS address can be used for both,  ETH and WINGS

Use the drop-down menu to select token/crypto

Step 4: Forecast Away!  

After completing your due-diligence (whether it is following the herd, or digging into the project), you can start forecasting by clicking the “Start review & valuation” under the project thumbnail

Navigate to the “Valuation & Feedback” tab, and scroll down to enter your forecast values:

  1. Depending on the "Forecast Question", your project valuation will be in terms of Ethereum (ETH) or USD
  2. Explain how you came up with the forecast in the opinion/feedback box 
  3. Specify the number of wings tokens you would like to lock-in for the forecast (Reminder: it will be locked-in until the forecast period has ended)

Recommended: Go with the pre-defined Gas limit & Gas price

Forecasting WINGS - A bet you can't lose

The WINGS forecasting process is like a bet you can’t lose. Here’s how:

  • If your forecast is was not quite accurate, you get back your locked-in WINGS tokens + a small reward
  • If you're one of many people who forecasted accurately, you get back your WINGS tokens + a part of the reward (reward is divided between # of people that forecasted accurately)
  • ​​​​If you're one of few, or the only one who forecasted accurately, you get back your WINGS tokens + a heavy reward

    So no matter what – you get your Wings token back + a potential reward!

Did you enjoy this post?

Help Us Keep Doing What We Do Best!

Tip Jar 🙂

BTC
3LrzDr7ZYQ5xWAKnweM1XuUAvU5YEkF7Zb

ETH
0x87ba0C08910Dbd3b93D74A2A3b61d78A3C2dbDab

Did this post help you?

Help Us Keep Doing What We Do Best!

Tip Jar 🙂

BTC: 3LrzDr7ZYQ5xWAKnweM1XuUAvU5YEkF7Zb

ETH: 0x87ba0C08910Dbd3b93D74A2A3b61d78A3C2dbDab

Get my upcoming eBook for Free!

"The Mango Guide TO Understanding Blockchain"

Offer Valid For FIRST 500 registrations only

Continue reading >
Share
>