Topic: How to approach a trading competition?? (Read 969 times)

Learning experience is the key on which dont make yourself that anticipate that you can win up the competition specially when you are just new or starting up. There's always those who are far more better than you on which simply means that winning up the competition will really be that tough for you but it doesnt mean that you wont really be participating with these competitions.

This will really be adding up on your learning curve and will really be able to be helpful on your trading on which on the moment that you do know on how things works and keeps on learning on everything new
by joining up these competitions then just continue on doing it until the moment comes that you do get in line with those old and good traders out there. Just take it slow and dont
rush up yourself to be profitable because this is where mistakes do usually happen.

Joining trading competitions can actually help one learn some new strategies and gain some experiences, but it is not just the right way to learn more about trading. Anyone wishing to join a trading competition must have equipped themselves with with the basic knowledge about trading because inexperienced and unskilled traders stand the chance of making mistakes that will make them lose money and lose the competition too.

For newbies, it is important that they prepare very well before joining a competition. Poor preparation might lead to frustration and impulsive decisions, making them learn more after some silly mistakes.

You know trading is all about risk and since trading is all about risk, what we needed to do in trading is to minimise the loss and increase our profiting strength, with that I think you're on the safer side, so let us understand that, some people derived applications to apply whenever they're trading, so you can derived your own application method to make you to compet with others

You are right, and when it comes to trading, when you win, you gain profits. When you lose, you gain experience and knowledge because every wrong decision makes you learn one wrong way of doing that, so losing might be bad for your finances. Still, it is suitable for your knowledge and experience.

We see a lot of people giving up when they incur losses in the initial stage of their trading careers. They feel they are failing and can't do it, so it's better for them to stop doing it instead of losing more money. The right way is to learn from the mistakes and improve so that you don't make the same mistakes again. That is how professional traders have reached where they are today. Everyone starts from scratch, and to reach the top, you need to grind and go through hardships, of course.

So, as a trader, or anything that you are doing in general, always learn from your mistakes and use that knowledge to improve your skills.

Bear market is kinda tricky and funny.. nobody talks about DCA enough. It's a life saver man

Bear market is very tricky and if you have never been there, you can fall this trap you just explained but are applicable to coins that are new in the market. There is no way you will buy Bitcoin in a bear market and someone that comes late to the party will make a reasonable profits than you, coins like Bitcoin has made recovery and has done a new all time high than any coin that existed in the entire crypto space, only altcoins are still struggling from their floor price.

The best way to avoid what you just explained is to buy coins that you know are capable of recovery no matter the sentiment of the marke, but and continue to do DCA with the rest of the price continuesly. Keep buying at every point in time the market continues to dump, you will reach a price where you will be average with the price and wait till the market recovery is done before money can be make back.

Having that confidence is a big deal, not everyone has the same confidence and sometimes you end up making a greater return and sometimes you don't and we shouldn't be really considering how much we know what we are doing and could be just trusting ourselves way too much, but that's still better than not trusting ourselves at all. The reality is that these competitions tests your limits, and sometimes you are good and you could make it and could earn something, sometimes you do not make that much profit and you end up losing because of it but you learn from it.

The more you learn from it, the better you will do and the more profit you will get, so do not consider losing as a bad thing. End up doing whatever you can as best as you can and you should be fine. Trusting yourself doesn't mean that you trust yourself to win, it means even if you lose, you will get something out of that competition, learn from your mistakes, get better for the next time.

On the moment that you've seen some competition and you do have that kind of confidence in regarding into the skills that you do have or the knowledge then you would really be considering out on joining
on some competition since you do have that kind of confidence that you could really be able to compete with other traders as well. Unlike when you are just starting up then you would really be having that kind of
hesitance in regarding into your trading skills on which its likely that you will be joining up with these things since you do really know on what you are really that dealing into. On the time or moment that you've seen yourself joining up then its impossible that you cant be able to tell the differences when it comes to skill specially if you have seen those profits gaps made out by other traders. Actually its not really that bad on joining up some competitions on which this could really be giving out that kind of training or enhancing yourself to become more even better. There are individuals who do really that treating up these things to be challenges
and not to getting up the prizes or rewards but rather they do really just that tending to go with the flow on what these competitions that really that trying out to give out.

Those two are really important traits of a trader but as humans it's hard to have patience and apply self-discipline when you see your positing gaining more green candles.

Some of such traders sell their positions by securing less profit, but if they can apply self-discipline, and have patience then they could literally make more profit by holding.

Easy to say but it would really be that so hard to do on which on the moment that you do deal up with trading specially on a market on which it is really that very volatile and unpredictable then there's no way that you could be able to handle it out on very easy way on which it will really be having those chances or tendency that you do really end up on having those kind of possibility that you might be ending up on losing that big time.
As for trading competions then it will really be that not easy yet we do know that the ones who are joining with these competitions are to those traders who do have some good skills on which they can be able to generate profits in a short span of time on which simply means that there's that difference when it comes to overall skills and knowledge.

Come to think of that even professional traders wont really be that able to avoid loses but what matter the most is on how you will really be able to handle up yourself into this unpredictable world of trading in crypto space. If you arent that good on handling your emotions then you will really be that prone into tons of mistakes and errors on which it will really be causing up that losing money.

Somehow it wont really be that bad on trying out to make yourself having that kind of perseverance on joining up this contest so that you will be able to enhance your skills even more
and you are really that being inspired to be trading up much more better because you do know that this will be beneficial for long term.

In conclusion - think and analyze first, and act second.
That way, the market will have fewer chances to punish you.

Because there is always a rally in the market that is getting stronger day by day, it has caused most traders to have a strong mentality in order to be able to continue to survive in the market with whatever trading capital they choose themselves. In futures all funds can be lost if they are hit by the liquidation price, while in spot every fund or asset that has been purchased can still remain if it has not been sold at a certain price or bought at a certain price. So in terms of choice and strategy, whatever it is, it is always up to yourself to determine it because it is also the first step that every trader must think about.

Yeah, risk management + the readability of the mood of the market are essential, though now we can all say that the rally for BTC dictates the market, we can never underestimate how things may go in the perspective.

It's either you win big or you go home here, so I totally agree - a competition, if a person wants a good place in it, is no joke to your depo.
Only with needed expertise, it should be entered with such an intent.

Yep, futures are a grave for many out there with such volatility going in.
Only with the money you are willing to spend, just like with the spot, you can enter a position, but I wouldn't risk it due to what's going to happen is pretty much uncertain besides the rally growing stronger day by day.

You cannot see the trading competition as small, you must see the trading competition as big. There are many competitors in trading competition you must trade with huge amount of money if you can trade with huge amount of money then you can expect to win the trading competition. Because the trading platform never remembers those who trade with small amount of money in trading competition remembers traders who can pay huge amount of money for trading. So you must participate in the trading competition by investing huge amount of money. But here I want to know from you are you ready to give huge amount of money, are you very experienced about trading? It is good if you are very experienced about trading and ready to invest huge amount of money.

I cannot come and demislead you or indicate your wrongly about trading for you to join trading competition you must know how acquire the knowledge of trading to at least 80% of the knowledge before you can join to participate in Trading competition because we have many people who take trading us their source of generating Revenue, but you as a beginner in Trading you have to understand as a threading is not all about competing with somebody but is all about on that standing the basic knowledge of trading because when you understand the basic knowledge of trading or basic concept of trading definitely you must achieve a greater height through trading

Seriously future trading is not for beginners, All I will tell you is that you should be careful. If you are not yet a professional trader, then it’s just better you avoid future trading, their is nothing bad in spot trading, you should just trade on spot. With the current bitcoin price movement, it’s going to be difficult to predict altcoin movement, and involving yourself in future trading currently comes with a very great risk. With bitcoin's current price, then I am sure with time, other altcoins will start following bitcoin price movement, so if you end up shorting any coin now, then things might not just end well.

Patience and self-discipline - two knight-traits for the traders to acquire in order to become the masters of the market, not a prey for it.
Indeed, if you control yourself - you control what you do and how you perceive the events unfolding on the market.

Only if you do think you have the needed expertise - you lean towards the competitions 
Especially regarding the details about them - always read the fine print, in fact, everywhere.