Hello Steemians, We have come to the conclusion of the 6th week of season 4 in the Steemit Crypto Academy. The week ran from 00:00 UTC on October 10th to 11:59 pm UTC on October 16th, 2021. I'm glad that the week was a success and I wish to thank everyone who made this possible especially the participants in the homework task.
In the previous weeks, we have focused on background knowledge of technical analysis a beginner needs to make a good trading decision. This week, we focused on introducing the different markets available in the crypto space. Emphasis was laid on the three common trading system which includes the spot trading, futures trading, and also the margin trading. Similarly, the pros and cons of trading any of the mentioned trading systems were properly outlined for a beginner to have knowledge of the market and also the risks involved in trading these systems.
As a beginner in the cryptocurrency market, you will be faced with a lot of crypto markets that are too good and enticing to them. Also, we focused on spot trading as the common market that iseasy and convenient for a beginner.
Furthermore, the different trading orders available in the crypto market were also discussed. This includes the market order, the limit order, the stop-limit order, and the OCO order. I believe at the end of the lesson, the participants have understood the difference between these orders and how to utilize them to make a good trading decision.
At the end of the lesson, the participants were task with an assignment to further improve their understanding of the lesson. This lesson was technical and interactive which will enable the users to interact with trading exchanges.
The homework task aimed at helping the students in the following ways:
- To understand the different crypto trading systems and the risk involved in them.
- To understand different crypto orders and how to manage them for good trading decisions.
- To effectively carry out a technical analysis using an indicator and opening a position using any trading orders.
At the end of the week, we had 106 entries. The task distribution is as follows:
- 104 valid entries.
- 2 Invalid entries
- 0 Plagiarised /spun contents.
This can be further shown in the chart below.
- Plagiarized content refer to users who copied someone else’s idea without referencing the origin source.
- Below average refer to grades below 5.
- Average refers to grades within 5 and 5.9
- Good refers to grades within 6 and 8.9
- Excellent refer to grades within 9 and 10.
- Invalid is for posts from users who are not eligible to perform the task. Also, late entries are for participants who submitted before the scheduled time which is 11:59 pm UTC, on Saturday, 16th October 2021.
From the chart above, we have the overall performance of the participants from the homework task. 37% of the participants scored above grade 9. Also, 54% of the participants scored between grade 6 and 8.9 making it a combined 91% of the participants who scored above grade 6. Furthermore, 4% of the participants scored an average score of 5 while 3% scored below average. The participants who scored below average are probably a result of poor writing skills and also the failure to understand the lesson before answering the questions.
The dispersion is shown in the scattered plot above. The average score is seen to be 8.1 which is the best so far. This is as a result of high-quality content produced by the participants and also an improvement in writing skills. We encourage everyone to keep working hard in producing quality content.
Below are the top 3 homework task for this week. I believe they deserve this spot for their outstanding performance in submitting quality content. I strongly support the competition for this spot as we have different users who qualify for this position every week.
Top 3 Homework Task
|@zekea||Homework post link|
|@erev||Homework post link|
|@stealthog||Homework post link|
Recommendation and Feedback from Homework Task
- The general performance of the homework was amazing as seen in the charts above. An average score of 8.1 was attained with 91% of the participants scoring above grade 6.
- There was a great improvement in the quality of content submitted. I commend the effort by the participants in improving their writing skills and working on their presentations.
- The last question requested the participants to carry out a technical analysis on any crypto asset. This task covered the lesson discussed in this season so far. Students were expected to analyze a crypto asset using any technical indicator and also execute an order using a demo account. The response from this task was convincing as the participants showed their knowledge and understanding of the lessons so far.
- There was no plagiarized/spun content recorded this week. We encourage everyone to work hard and keep producing original content.
- We recorded 2 invalid entries in this week’s homework task from a user who submitted before the deadline for submission and also a user who was found guilty of using bot accounts to build his reputation. Students are encouraged to build their reputation organically through PoB and not through the purchase of upvotes.
Though we try as much as possible to educate and equip users on the information needed to make good trading decisions. Please understand that these studies are for educational purposes and not financial advice. Investing in cryptocurrency is very risky due to the highly volatile nature of the market. You are required to make your own research and analysis before investing in any crypto asset and also do so using good risk management.
We will continue our best in the academy to educate users on the cryptocurrency industry. Cryptocurrency is the future of present-day finance and there are a lot of opportunities that come with this evolving technology.