Gm crypto perps traders! βοΈ
You can only take ONE trade...
π’ $SOL breakout
π΅ $RAY pullback
π£ $ETH reversal
π $BTC range breakout
Which one are you taking?
And why?
Gm crypto perps traders! β
Trader question:
You're watching $SOL...
4H resistance is approaching...
Momentum is strong...
Funding is getting expensive...
Do you...
A) Long the breakout
B) Wait for confirmation
C) Short the resistance
D) Stay out
What's your play?
Gm crypto perps traders! β
Here's a little tip for ya...
First off, anyone trading crypto perps should ALWAYS be watching open interest...
If price is up and OI is up - buyers are most likely entering new positions.
If price is up but OI is down - traders might be starting to close their positions.
Now if price is down and OI is up - it could mean new positions are starting to build (usually seen after consolidations).
And if price is down and OI is also down - it tells us that traders are definitely closign their positions.
Now keep in mind, OI itself isn't a "signal" or anything like that...
It's context - very useful context π
Gm crypto perps traders! β
How was everyone's weekend?
We had a little hiccup with our front-end hosting environment on Friday but we're back to normal now.
Hope everyone has a good new week of trading! π
Gm Crypto Perps Traders! βοΈ
We may be a Solana perps DEX, but we also think crypto perps trading education is extremely important.
So this morning we've got a perps trading checklist for everyone...
Before you open a crypto perp, take 30 seconds and answer these questions:
What am I trading?
Am I long or short?
What's my entry?
Where is my thesis invalidated?
Where is my stop?
What's my position size?
How much am I risking?
What leverage am I using?
What's my liquidation price?
Am I paying or receiving funding?
What are my entry and exit fees?
What's my plan if the trade moves against me?
If you can't answer these before clicking βLong or Short,β you probably haven't planned the trade...
Perps make it incredibly easy to enter a position.
The hard part is knowing exactly what you're entering, which is why these questions should be answered beforehand - so that you know exactly what you're getting into and not just front-running π
Gm Sprout Perps Traders! βοΈ
We have finished paying out rewards to everyone who participated and won some free USDC in our PnL trading competition!
This was our first competition and we've got many more coming!
For our next crypto perps trading competition we'll be turning our leaderboard on and the winners will be based on both trading volume + PnL instead of just PnL like this last one.
Details will come soon so be ready for it! π½
Results from our PnL Trading Competition...
Winners 1-5 for $20 are below...
1) @Crypto_Ambah +125%
2) @defimonarch113 +104%
3) @garrett_n_stuff +94%
4) @CryptoFelix200 +92%
5) @yb_iam929 +65%
Winners 6-8 for $10 are below...
6) @6affah_ +47%
7) @Ojite_precious +38%
8) @degen_wizardx +23%
If you're account handle was tagged, comment down below with your Sprout USDC address so we can get your winnings sent over to you!
We only ended up getting 8 submissions (normal for a small trading platform) so we'll try for 10 on the next competition!
Gm Solana Perps Traders!! βοΈ
We've got a small competition starting today!!
Share your biggest wins on Sprout! π
Post your PnL cards under this post for your chance to win a little bit of USDT!!
10 Winners - $200 USDT Total
π Top 5 Best PnL - $20 USDT Each
π Remaining Top 5 - $10 USDT Each
π₯ How To Enter π₯
1) Trade Solana perps on Sprout during the campaign.
2) Generate your PnL card using Sprout's built-in PnL sharing feature (share icon in your "Net PnL" history under the "Position History" tab)
3) Follow, like, and quote-Tweet this post with your PnL card. Tag @SproutPerps and 1 friend as well.
β° Time Period: September 22nd - September 30th
Good luck Solana perps traders!! π₯