Topic: Has Trading Competitions competitions led you to challenge your skills? (Read 337 times)

Trading tournaments create a motivation to keep us competitive at some point, but somehow, it can still cannot guarantee a successful trading for someone who is still starting to learn the process. What we need is more exposure and consistent experience in the market, even if there’s no competition that is involved. As long as you keep practicing and learn from every mistake and small losses, you will definitely be a successful trader someday. Patience should always be given highest consideration.

I am glad that you won a prize from Binance, but my only advice to all newbies is, to keep yourselves away from future trading and doing copy trading in futures is way more risky because you are just copying others and those you are following even told you not to because they say, its risky (they give disclaimers) so when newbie do it on there own (as nobody do it without disclaimers) they can lose money because these influencers are trading with huge capital that a slight incremtn in price can make them huge money while you can't.

And by seeing them making money you starts to get the feeling of investing more so you could also make more, but in this hype or vibe you forgets there will be huge loss as well. So its good to take part in competitions where you only have to do demo trading as you are experiencing things and even if you lose it won't make any bad impact but a good one. So better start with demo competitions and then move onto real one but avoid futures please especially newbies.

This is absolutely true and I have seen this happen in time past, especially the mega KCGI trading and invitational event. It gives room for everyone to express their passion and how good they are at whatever they can do in the scope of the event. I could remember I had to give it all it took in the past and it ended up well, at least, I got rewarded for my effort. I will also add that we should also not be too sure that an event might not be rewarding when we have not participated yet or judging from our previous experiences. I expect this year to be better as well.

True. Fear and greed are the two most factors that   kills your trading career and when you're in a tournament or competition. You tend to be outperformed due to those qualities.. OP hope you know one of the competitions you mentioned(KCGI2024) is back. And will start in 4days time. Have you joined a team?

I have never won any of them and that's why I don't any more of them. Maybe it's just for fun if I do. Most of them doesn't really have that tough kind of competition and some of them really depends on the mechanics that they do. So, whoever trades the most and with most wins, they're the winners. And I can't have that stable stats and that's why I don't win to any of them. But for experienced ones, you can always participate them if you think you're competitive in trading.

Nope, I have never joined any trading competitions with serious mindset because those competitions are mostly traps these days as a trader has to make so many trades of high value in order to get in the top list.

The whales can easily win such competitions because they hold huge capitals and that's why they can easily complete high volumes within hours. I once participated in trading competition as a test trial but after looking at the volume of other traders I just gave up on it.

I believe the ones who have good capital should participate in volume based trading competitions while the ones who doesn't have huge trading capital should avoid volume based trading competitions at any cost. A better competition should allow everyone to have same capitals and other stuff while such competitions can't be found easily these days.

If someone needs to test a trader's trading skills then they should make those competitions fair by allocating same amount of capital to each participant, and that would show others that who's good at trading. By allowing someone to have $1M and others having $100, the competitions can be totally unfair I believe.

You're spot on—trading competitions aren't just for the big spenders. Sure, having a hefty budget helps, but as your experience shows, there's plenty for traders at any level to gain, IMO. Think of these competitions like a boot camp. They push you to refine your skills under pressure, expose you to different market conditions, and provide opportunities to learn from others. Plus, you might even win a prize. Demo trading and copy trading are fantastic, especially for beginners. It's like a risk-free sandbox where you can try things out and learn from the experts. I believe everyone should try trading competitions, regardless of their bankroll. See it as a personal challenge and a way to elevate your trading skills. In the end, the experience and knowledge you gain are far more valuable than any cash prize.
Do you have any tips or tricks you've picked up from trading competitions? 

Of course, taking part in a trading competition is something that is challenging and can encourage us to improve our trading skills because we are motivated to be the best, especially when the prizes offered are large, but to be honest, I see that it is more suitable for those who have large capital, because I remember once participating in it at my local CEX and was successful as a participant who got one of the prizes but was not the main winner and when comparing the capital and profits I got during the competition with those who were the main winners were very different, so I came to the conclusion that trading competitions are only suitable for traders with large capital and day traders because while they are trading they can get additional capital if they are successful as winners.

It does give you this "urgency" to make more money, like you wouldn't want more money in normal times. I mean we all want more and more money at all times, and that is understandable, why wouldn't we, but for some reason when I am in a trading competition it makes me want to make more money in most cases, which is why I believe that we shouldn't be really worried about it.

I personally know that it is going to take a while to make it work, so it is not really that much of a great deal. I almost never win, most of the time I lose, just won once in my life and that was a great feeling, ever since that day I have been chasing that dream and I think that is going to keep feeling a little bit different to me and I try to do whatever I can with what I have.

But they're getting exposure to a very volatile market while they're inexperienced traders, most projects that runs this competition are new projects that got listed on an exchange and they're always very unstable that the price of the coins can pump and dump regularly because of alot of manipulation from the exchange to make profits and whales that's re traders with big volume to also make profits. The small traders that don't have any experience becomes a victim of the big players as the exchange and whales.

It's not worth it from my view, if you're inexperienced I'm trading don't go for this competition but force on developing yourself as a trader with experienced before joining any competitions as this completion wouldn't end in that only one that you're seeing being advertised but more will come in the future and by then you would had been very prepare to participate in them and probably win the prize money to help you with capital for trading big amounts.

So, it's a misleading promotion? Or it was only your fault for believing it? After all, an exchange is a business, so expect that there will always be a catch on each of the promotions that they will release and they make sure that they can still win. They are not a charity in which all will be given a chance, I mean that all will end up as a winner.

Anyways, I feel sorry for what happened with you mate. If only you remain to calm down, you won't get busted and still have the chance to surpass other traders. Scenarios like this are familiar and there is even a saying made with it. It goes like this "Those who started slow are sometimes the ones who can win the race". It is not true that you didn't gain anything. You did gain something and that is lesson, which you can use to improve your self more.

You sound like you have been spending lots of time on trading but in different environment. I guess just watching market for paper trading which involves different trading strategies itself would help anyone to sharpen their trading skills. How long you spent with markets will define your experiences hence I am sure you have become an experienced trader. Your experience will definitely help you to crack profits, no surprises.

It ain’t all that bad though, as this creates an opportunity for even the inexperienced trader to try and be serious with a prized money available for grabs. That’s what you need eventually. It dares you to have two things at stake and that be, the possibility of loosing your trading capital and also, the possibility of loosing or winning the prize money.
However, it puts on you and uneven pressure should it happen that, you start loosing on your trade or there is possibly a visible ladder board that you’ve got to climb and you can see how other traders are doing.
This might motivate you to trade more than usual, take higher risk and sometimes you would win but other times, you would fail because, your now trading above your limits and paying less attention to details.

Trading tournaments are made to harness our trading skills and strategies, so it would be a good avenue for those who are trying to see progress in their performance. With consistent participation, I believe there will be evident trading improvements that may likely lead to future success.

However, you can still be successful even without joining trading competitions. As long as you are highly motivated  to learn starting from demo trading until using your real live trading account. After all, success does not rely on the trading tournaments you have participated but on how you deal with trading experiences and make it as a ladder to reach your trading goals and targets that you have set from the very beginning.

It wont be called a competition if it wont really be that a challenge on which means that it would really be needing up for you to have that kind of competitive approach against other traders.
Speaking about on being that eager to challenge up your skills.? Of course you would really be having that kind urge on making yourself that dealing up to be the best.
For sure you would really be having that main thing in mind is to get that prize since its a competition and this one would really be that making you urge to make that good trading.
I could really say that this is really that good on making yourself that better on which you do enhance your skills and thats a benefit for you.

Keep yourself that joining these competitions on making yourself that way better and just like been said that you arent just that making yourself good
but also you could earn money if you do it well but of course dont make yourself that expecting too much.

I have also participated in trading competitions and this has indeed triggered different challenges. But to be honest I feel that it disturbs my mentality a bit when trading. The sentimental market analysis that I usually do became a bit neglected at that time. but luckily it didn't have much impact on my trading. It's just that it does provide a bit of a challenge and pressure at the same time. But sometimes I still follow it, but this time I always do it casually without setting any targets. because I now prefer to trade in a relaxed way. different from previous years where I always targeted profits. But for those who like a challenge, taking part in a trading competition can indeed be more fun to do. Just don't let us lose focus on our main goal in trading, namely making a profit. May you all always be successful in your trading. And you can take advantage of the current market moment which actually has the potential to bring in more profits. Because market direction tends to be easier to predict. Especially after we know about the trend of following narratives.

Trading competition can be challenging to you as a trader and it can help you to improve on your trading skills as you'll have a prize that'll motivate you to try harder to become the best at the competition. Trading competition are good for traders that were already trading before the competition came but they're bad for those individuals that only started trading because of the competition. Individuals that got interested in trading because of the competition will lose their money because they don't know anything about the market.

The bad thing about exchange launching trading competition is that it attracts unqualified individual and it makes them to lose money and get into depression. The competition makes the exchange get new customers that registered to try their luck in the competition and they don't know how to trade therefore the exchanges makes more profits from the competition but this individuals keep losing which is bad but nobody cares about what is happening.

I took part in the early stages of Bitget's TraderPro program and it was actually a competition rather than a scholarship that they first made it out to be. While the comp went well, I found myself taking on too much risks because when you peek at the leaderboard and see others doing so well, you'd be pressured into taking additional risks and that's what happened to me. I broke my trading plan and at the end of the day, I didn't gain more knowledge or improve on my skill. It was a net-negative experience because only the top 50 traders with the highest ROI got in.

By all means, trading competition may possibly fuel our trading passion but it’s not necessarily that we have to go with it just to prove to others that we are good enough. We can always improve our trading performance and skills by continuous exposure in the market and by trading even at a small basis. What’s more important is that we are trading to harness our knowledge and skills, and with goals that will motivate us to go for it. Competition is a good one, but it can never guarantee successful trading. It’s within your own perspective and motivation that makes you a successful trader.

Quite interesting, I had replied to a similar thread it was quite old like 4 to 6 months before, I'm not sure but the motive was the same anyway there's no problem with that I can still post my previous words, because now I cant find a particular post haha, but my thoughts were, you need to understand that trading competitions are not for everyone, first of all, they are very risky as new projects some old project run such campaigns to generate volume, and when you participate you bet on an overvalued coin/token from 5% to 10% even more in some cases so you cant just bet for the reward of few bucks with your portfolio.

On the same time in such competitions, high rewards are mostly accumulated by the whales as they have money, they get into it and make huge volumes which a regular solo trader can't afford. Make sure to calculate the risk first before taking part in such things because you can suffer loss and no rewards as well.

I would if the prize is big but if it just to show who is the best trader among the participants, I don't think it gains such courage and motivation. It is unlikely that will have a huge impact on our trading career, possibly nothing change. Perhaps, we can challenge ourselves to improve without this stuff if we want to level up and become more profitable. What is important for us a traders, we are certain of our plan and continue finding strategies that really work. It is not necessary to go into competition so we have to enhance our capability but since we want to become successful, therefore, there is indeed a need to keep improving.

Trading is a touch mental skills. Since you had a great experience with the former, I think you should keep up with the next edition & members registration has began. I wish you 🤞. You could watch smc entries on YouTube to shape your skills too..

Good that it has worked out for you because some of us get carried away due to the competitive nature and they forget the basics and just wants to win trade and make more profit as a result they end up making wrongoves which may not hurt their portfolio during copy trading or demo but in real we need to have control our our urges to make profit and stick to basics principles.

I do not have any experience with trading tournaments, but in general, demo trading is very useful for new traders who do not have any experience. This is good advice for everyone to use demo trading in the beginning, and then when they have some experience, try real trading with a small capital at first.

As for me, I learned to trade on my own and made many mistakes and suffered many losses, but I learn from my mistakes and my performance improves little by little with time.

In many cases, it is now seen that most of the trading platforms are manipulating the candlestick pattern many times. Due to which many people are not able to retain the skills despite having many good skills in the market. But if candlestick manipulation is done by the market then it is not possible to win by trading there. And if it's due to human pressure or buyers and sellers going uphill or many sellers trying to millepopulate many times. Then it's a different matter. There are many groups who try to manipulate the market.

Yes it's right that competition gives you a lot of view of trading and if you try hard to win you'll surely learn how to bear the pressure and how to overcome it to gain what you want.

As far as trading is concerned you have to invest your own assets so that you can trade with the fear of losing money.This fear will lead you to polish your skills and ultimately you'll get more profits as your skill set will be more professional then before.

Any competition that would showcase your skill is a good way to challenge what you're currently good at and if you can further improve, that's the most logical thing with competitions, if it wasn't then we wouldn't see a lot of repetition in participants because they probably think that they're at their peak when they finally entered a competition. It will definitely challenge your skill though because in a competition, there's typically a prize or a reward for those that would finish at the top of the competition combine that with the satisfaction of you seeing that you really are at the peak of your skill level.

There is no problem about participating there, the problem is about winning on it since it is a competition. Everyone is aiming to win and wanna get to the top or any place that has a prize.

If you are interested in going on with them, think of it that the participants are just around hundred of thousand.

Yeah, I am being sarcastic because it is possible that there are more.

I have not yet seen an exchange promoting trading competition aside from the exchange (Bitget) that you have said.
Does it look interesting and courageous? No, I feel not because as a trader, we don't need to prove and no point in showing who is a great earner or challenge ourselves to be the top among others. Instead, make it a secret as much as possible, and besides, trading is not a competition in the first place as we are able to excel in trading without showing it to others. Doing this will never give us the benefits because nothing will change us, it is the company/exchange that has it.

Anyway, I just hope that all the traders who join the competition will find it helpful to themselves and their trading journey. It is a matter of choice but I chose to stay out of such things.

@OP, what's the relationship between you and Bitget? It seems like you mention the name of the exchange quite a lot:







Almost all your posts or threads you start have Bitget somehow plugged in. At this point, this makes it pretty evident that you are on a mission to promote the exchange on the forum probably to get incentivized by them or someone else, I don't know. 

I haven't dared to participate in trading competitions because I realize I don't have good trading skills yet. I'm afraid it will make me forget myself and not realize the limits of my abilities in trading. Apart from that, I often experience losses in trading, so if I take part in a trading competition, I could experience even more losses. There will be a desire to always try to recover losses in trading, and that really bothers me.

I prefer to trade as usual to improve my trading skills. Indeed, the prizes that will be awarded in the trading competition are very large, which makes many people interested. But getting into the top ten list is very difficult, so we have to be aware of it.

Exactly, but I also want to add something: even if you have the necessary knowledge and skills, it is very important that you have the experience. Okay,  about trading competitions, even if you know you have the skills and knowledge, do you think without enough experience you will do well in trading competitions? No, because those traders that are participating in trading competitions have intensive experience and years' worth of experience in trading. Without enough experience, a trader will have a hard time because he or she will not be able to do well or most likely will lose in the competition or will lose money.

But yeah, it is a very good experience for a trader to be able to participate in that kind of event because he or she will pick up a lot of learnings and, of course, experience. Anyway, just make sure that you, as a trader, will not take it to heart no matter what the result the result will be.

I guess I didn't include that I didn't engage with real funds in my post. actually when I was participating, I was in both demo copy & future trading in competition, these things enhanced my trading proficiency and efficiency and especially because it was more like challenge with trading competition. I know in general, there is demo trading, but what makes it interesting when there is no status of you being top 50 ? I find it more engaging when there's a leaderboard or ranking system to track progress. That's what I was trying to convey.

there are many ways to learn trading, and this was just one learning experience for me.

This is the reason why we should acquire knowledge and experience at first before trying to pursue our passion in trading. Trading without setting a foundation first will only come into a waste of time and money. Therefore we should avoid it. However, if you have learned the basic skills and strategies already in trading, then challenge yourself and get involved with trading competitions, not actually to make an edge over the others, but to gain more experiences that will harness your own potentials in trading.

I have read about competitions between both newbie, old timers and traders without funds but with the skill, on some funded trading sites and the competitors are required to have simulated accounts that they should have kept active for a time, the winners also will have to be given funded accounts of theirs and some other rewards according the site rules on which the competition is registered.

Besides these funded trader sites I have come to know about, any other trading competition is enough to sharpen both a newbie and old timers skill, whether they win or not, unless a potential trader hates competition on their own and prefer to trade and improve at their own pace.

Trading competition forces you to do good and make good profit, this can be good if you already have a good skills and knowledge about trading but for beginners, this might be risky because you will rush to learn things and you might missed important lesson because of being in a hurry. I tried to join trading competition before, it was fun and challenging, good traders always be on top and that’s why they make good profit and win title at the same time.

It’s good to participate in some competitions and challenges because that will boost your interest and confidence to become a good and successful trader. If others are capable to do that, then that means you yourself will also be able to do that in the long run. However, trading have its own inevitable losses that will occur more most especially if you are still starting to learn. Just accept the reality that trading is not all about success and profits but also mistakes and losses as well. But if you have the impressive skills and strategies, then winning your trades consistently might be certain.

Trading competition won't be bad for traders who already have better knowledge in trading , this competition can also help in upgrading trading skill to get a better result. I know competition plays a good impact in people's skills but when it comes to trading competition won't be good for those that are still learning trading , instead it is better for them to take their time to learn first and never to compete with anybody. Let competition just be for experienced traders that understand what trading is all about.  For me I don't think I'd like to go for any trading competition because trading is unpredicted sometimes . Things that are not very certain no need to go competition with other people.

It would really be just that suicide if you would really be tending to trade without even that proper knowledge or awareness of it. Trading competition is of course would really be into those traders who are really that actually knows about on how to trade. It would be called competition in the first place because this is in between into those who are really that good in doing trades. If we do speak about into those bonuses and perks
then it would really be something that interesting but if you are still a noob then its less likely that you would really be that interested with these things considering that you would really be that not much in concern
because you are aware that you are really that indeed lacking the sufficient skills in go toe to toe with other trades.

On the moment that you do already get such skilsl then you would really be able to feel up that kind of confidence but of course it wont really be an assurance that it will
really thatm ake you go into the top. It would really vary on how well you do handle up yourself into this kind of condition.

When you don't know about trading at all, how can you even know how to cope with trading competition? You will probably just be like a novice who is handed a keyboard to play for the congregation. When I first heard about trading, although it was Forex trading, I thought it was just some simple thing I could do and make huge money with, but after I lost some money with it, I just realized that it's something you have to properly learn about the principles involved, learn about the tools to use, and learn how to develop your trading strategy. Trading is not so simple that you can know how to trade after engaging in competition. You even need trading knowledge to be able to join the competition. 

I believe trading competitions are a test yourself, cos you'll be operating under pressure, pushing your boundaries and sharpening your skills and gaining experience. It takes courage to participate though 👍 to you. So you can keep going for it. There's another edition of Kgci, it's already trending.

Trading is never a competition in all honesty, but if joining trading competitions will help you to improve your trading potentials, then go. Don’t deprive yourself to get challenge, but make sure that you are ready to lose as well. Trading has more on losses than gains, most particularly for beginner traders, but if you have sufficient experience in trading that makes you a competent and competitive one, then accept the challenge and trade responsibly.

Through competitions, it is also possible that you show here what skills you have, and it is also possible that the reason is to prove to yourself that you can keep up with others to show the skills that you can also win.

But you should also remember that there are participants in the competition who are so proud of themselves that when what they expect does not happen, it becomes a way for them to fail to achieve their goals, which is the reason for stressing them out. Instead, it would have been just sports.

Competitions and challenges can be good to challenge your skills and motivate you to want to improve in trading.

 But you should be careful too because if you try to partake in any of this kind of competitions before you are actually ready for it, you may actually just be preparing yourself to get depressed maybe from loosing in the competition and by thinking that there's probably too much in trading that you don't know and will never be able to learn because of some untrue reason etc.

Do not put yourself under pressure to compete with anyone.

I think a lot of you traders can relate to me, ever since I joined this space in 2018, I have been struggling to make one trade or even a transaction. It doesn't matter if it was USDT p2p or anything.
I took so much time that I didn't even get to make profits that I hold but rather I lost a lot, But basically, it was my fault that I didn't really dig deep into it. Many of you are researching, checking project news, and familiarizing yourself with the charts. These three factors were not in my mind.
Years passed by, I learned to do much better than my newbie days. I gotta show my respect to all of the newbie traders here in the forum, cos I was in the same place as you and it didn't make me professional in an instant. It took me years to do what crypto traders would do to trade and make a profit

I have some friends that taught me how to trade much better, I am not sure if you guys were into trading competitions. I was partaking in some kind of annual trading competition called KCGI last year, that included demo trading & copy trading. That required my friends and me to create a team and we actually did some good trading volume in order to win rewards.
I learned that I would do demo trading and try my trades better, over time it was effective, as well as with copy trading.
There's a lot of trading competitions I joined in to get myself more into trading. I can't name them all but there was Bitget's KCGI, Binance Futures Tournament ,  WSOT by Bybit  Well of course, I didn't really care about rewards, but I once won something from Binance futures last year from doing futures copy trading.

If you guys really wanna get into them, then I think there'll be more crypto trading tournaments this year. You just have to be sensitive to announcements and have courage to participate ahah. Any experience about trading tournaments, let's hear your view.