Topic: How to approach a trading competition?? - page 2. (Read 969 times)

You are totally right - if you want to buy a coin for the future, you buy it at any price, having confidence that it will spike anyway, such as the case with BTC.
You either DCA your way out or buy in lumps, of course, with other coins, this is a more risky venture, however - it's better to have many coins in your portfolio with different potentials and metrics attached to them.

Yeah, sounds great - you do what sticks to you and suits you, which is - making your profit and bringing you joy in doing.
So to be good, you need to crave knowledge, markers to enter, and self-discipline in emotions and not only in them, but in your actions too.

Learning trading isnt a skill that you could really be able to easily obtain on which it will really be taking up that long time and tons of engagement and trading positions on which you will really be experiencing those trials and errors. Not all will really be that having that kind of open mindedness on which there are ones who do really be able to adjust accordingly and there are those people who do just easily quit up on the time that they do experience some hardship or tough situations. When you are really that dealing up with trading competition then this is something really that a good time or moment that you do make yourself that learn because you would really be challenged on trying out to achieve or hit up something, but somehow since you do know that you are less in experience and knowledge then you shouldnt be anticipating that you can be able to make out some
winning spot or in the top so that you wont be ending up on getting frustrated or would really be that disappointed. It is really that important that you do need to learn up and acquiring that sufficient and experience so that on the moment that you had build up yourself in terms of foundation about learning up trading then you will really be also that competitive on the time that there would really be other some competitions.
Although you cant be able to sure that you will be winning up the top spot but at least you do made up yourself that more better and better as years or time passing by.

I think it is necessary to learn the trend when trading.  Aside from basic to advance knowledge on trading strategy, it is also useful to know the emotion that is engulfing the market.  If we happen to master this kind of observation, it is easier for us to use the tools, and technical analysis since we can somehow get some hints whether the upcoming market trend is upward or downward.
It is said that it is best to mix technical and fundamental knowledge for a better result in terms of price movement prediction.  Regardless how tight the trading competition is learning to adopt and rightfully apply the knowledge we gathered gives us an advantage.

You can still buy a coin during the time of the bull market and make a better profits than those that bought during the bear market. Some people buy a coin during the bear market thinking that they have bought in the cheapest price but after buying, the coin can still drop more and it continues to fall until it gets a lucky break during the bull market and that was when another investors or trader buys the coins. The market is full of surprises and you can surprised at anytime. Trading competition are good because they can make you to improve from the way you use to trade before, some traders are afraid of taking more risk as they are always too careful of how much they want to use to trade and this makes them to not get plenty profits but just average.

Those peoples that we see make an competition about the trading are those who have already have much experience about the, but I wonder some people that they just started instead of them should be endure and lean in other to get a lot of experience about trading: Bit they will be after competition with those that have become experts.

When we come to trade we need to extra very careful, some of people’s will go and participate competition without having a proper knowledge of the trading or knowing their own market strategies, but if a person is lack of knowledge about the markets it will never succeed in trading.

Hahaha, it was a joyful moment for you winning BNB. Well, buddy, the trading competition is easy and tough at the same time, and your preparation depends on the opposing team, how skilled and experienced they are and their preparation for the competition. I can simply say that you should make your own strategy before entering the competition, but yes, you have to read the terms and conditions before you enter to the market. it's very important because they set the criteria for winning. The third point is risk management and the use of stop-loss to prevent excessive losses. Next, you should communicate with your team members and other participants in the competition arena, which will provide you with knowledge about different strategies and the market. These are some essential things that are important to consider in a trading competition.

And when you learn to acquire the knowledge of the movement in the market, it will help you to succeed among the competitors in the market because you have the experience of the market which it will lead you to the season to trade your coins to make a good profit other people are making from trading. It depend the price you bought your coins in the market, because if you buy your coins in a high price and you sell the coins in the bull run, it will not help you to make plenty profits like those that bought their coins in the bear run and sell in the bull run.

This long hodling before trading, is very hard for some newbies to achieve to improve in any competition trading because they feel is a waste of time for them, than to trade without considering the price of the market at the moment, which it will not help them to earn a good profit with other traders in the competition.

The best approach is to learn the movements of the market well and then participate in any competition. If the market is going up and it reached high peaks then surely it will have some correction and in correction shorting works like a charm but if market is dumped and bull run is still there then there'e chance the market may go up again and in such times it's better to open long positions to earn profits.

Because if you force yourself, the tendency is to push yourself even if you know the risk is higher. Hence, losing is inevitable in this process. Better do what you usually do, and execute your trade as usual. In that manner, you will apply what you have been learning in your trading journey.
Trading contest for sure will give you good opportunity to earn, however, there are some drawbacks as you need to really  make sure you have your funds in place. Don't rely that afterwards, you will gain from it because not every trader can earn profits. Let alone, win from this contest.

I agree with your approach as people need to know risk of joining trading contest. If they force themselves to trade abnormally than what they usually do with their trading activities, they will self derail from their good track to bad one.

Forcing themselves to trade more, will possibly lead to discipline break that can be start of their losses from trading and even nightmare for their trading capital too. Appearing in top of leaderboard in trading contest never should be their only goal to reach, because a most important goal of any trader is "Defend and protect their initial trading capital as most safest as possible."

If we take the DEEP project team, for example, then I can say for sure that similar contests were held on other exchanges. But the conditions there were different. In particular, to participate in the trading competition, I used the Mexx exchange to trade derivatives of the DEEP token.

i really like the fact that these exchange just decided to make a trading competition on a newly listed coin which are still in the phase of volatility, it's just feels great when I trade on these volatile coin and I also received reward at the end of the event.

definitely a better event compared to back then where the only thing that matters is just trading volume and only whales could do that.

with these volatile coins, the whale are hesitant to make trade so it gives us the smaller shrimp a chance to actually earn something from the competition.
I've seen other events as well and usually it's always the new coins, I wonder if it's also partly coming from the project itself giving special allocation for the exchanges.

This is how i do things when it comes to any competition on which its not really that bad on thriving to go with the top spot be it will be always better that you should really be that making yourself not to be able to expect on winning up the competition. Why? if you will really be having this kind of mindset then it will really be just that making you distract on what you would gonna do because you've been thinking up that others will really be making up their trading too fast in terms of profitability.

It is really that recommended that you should be doing on what you've been getting used to and do your very best on trying out to make good trades. If you do saw that you are making up such progress then its good
and keep contiuing because we do know that once you do see such progress then there's always that chance that you might be ending up on going into that leaderboard but just like been said that you shouldnt be that expecting too much because there would be always those traders who are really that far more better than you and thats why you shouldnt be anticipating that you could beat them up so that you wont really be ending up on getting disappointed on the time or moment that you would be dealing up with any competition. The bad thing or wrong steps or behavior for most who do join up with competition is that they've been expecting too much that they could make it but in the end of the line it will really be that making or giving that frustration just because you hadnt been able to make it and thats why you will really be not trying to join up with those future competitions.

When participating in a trading contest, you do not have to set such a goal as getting on the leaderboard. Keep trading, just like you always do. And if as a result of such trading you additionally receive any prize for participating in a trading contest, then this will be an additional bonus for you.

If you are disciplined enough in trading and can make money, why should you join a trading competition? because in my opinion you will experience double pressure, first you have to make money and second you have to try to be on the leaderboards, but if you really want to join then what you have to do is read every trading rule carefully and also prepare capital because this requires large capital, and if the prize is in the form of a new altcoin it is very risky the price can drop quickly so if you succeed in getting a prize it would be better to immediately convert to Bitcoin.

Sounds nice.
You did well, and thanks for the tip! Much appreciated.

Yes, there are especially many such trading contests on the Bybit exchange - https://www.bybit.com/en/trade/spot/token-splash Now the DEEP/USDT trading contest is coming to an end and I decided to take part in it. I have completed a trade turnover that exceeds 27 thousand dollars, for which I will have to receive approximately : 4,4k DEEP, which at the current exchange rate is equal to $270. Since there are still 2 days left before the end of the competition, I think I can increase my reward.

Therefore, apart from registering alone, you also take time to read the rules (which are important) even though we are sure that the rules are still the same because we might be wrong with our assumptions and that will be the reason for our disqualification. It is seems you are an experienced trader already. That's great but for those who aren't yet and are excited to join their first competition, pretty sure they will also do a practice.

As you said, there are also trading contests that focus only on a few pair of coins. One of these coins must be new and it was like they are only promoting it. The rewards in the contest can also be sponsored by them (dev/team of the coin).

This is it. Do not panic even if knowing that it is a trading competition, you have to compete with others that are also aiming for the prize money. You just go ahead and chill and if it's a contest that doesn't have a buy in or any amount that you have to pay to get in, you focus on your trades because that's your entry fee to make it. Having a mixed emotion is hard and not everyone that joins there are for the money to be honest. You'd see a lot of other aspiring traders there as well that just try to gain more experience and prove themselves to be a good one. So, don't panic, get focused and learn as much as you can because even if you're not the best there but you're able to learn more and gained experience, you're already a winner to yourself.