Trading competitions are awesome, especially if you are a top-ranked trader. First, I think you need to see what parameter you are going to compete for. Is it going to be ROI, volume, quantity of trades, etc.? If you are capable of making high-frequency trades, I think you could be one of the top performers in that competition.
You need to look for easy access and an exchange on which you have an account, and with that, I think it could already be possible.
Topic: How to approach a trading competition?? - page 4. (Read 856 times)
Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.
What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
Best approach? Stick into your own trading style and dont get pressured specially when you are on a trading competition yet this would be still mostly goes after on how profitable you are or the volume that you do generate out. It will really be basing up on the mechanics on which it would really be something casual or talks about profits you had made. Dont get stressed out or make yourself that desperate because on the time or moment What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
that you are chasing up something then it will really be disrupting you to make good trades. Just do on the things that you do or getting used to and you would be able to see that you are doing just fine.
Just accept that there would really be that better traders out there which is normal, if you are doing something great then you would be placing yourself on the top as simple as that. When joining up competitions then
just do your best and accept on whatever the outcome it would be. In competition then there would really be those winners and there would be those losers on which it is really just that part of it.
Thing here is that you shouldnt really be losing up your cool on the time or moment that you do find yourself on such condition.
Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.
I didn't participate any trading competitions at all because the goal of it is the highest win rate and profit right, I have my own pace of trading so I don't need to get bothered with the others people makes a huge amount of earning than me well there's particular reward with the winner but I'm just a small time and casual trader seeking small amount of gains with the market volatility. I guess ideal is to explore more learnings so you can use those tools in different situation when you make a trade.
More than trading skills and strategies, trading itself also requires luck. So if you are going in a trading competition, make sure you are feeling lucky because that will help you to make those trades turn favor on you. And also, you need to be more patient on the market, if not, the risk to lose will increase its chances due to wrong decision making. And lastly, if you can’t be good in leverage trading, then at least leverage yourself in trading. That way, you will gain more possibilities in maximizing your profits as well as lessening your trading losses.
Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.
What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
You should derived a means that will make you to have limitations of losses and increase your chances of profit, so you can derived it through adequate research and also examine yourself for that, because what trading needs is a way that you can make your profit and observe how to overcome losses..because once you control yourself in getting much losses in trading methods and derived a means to be making profits instead of involving in much losses I think will make you to be strong in trading. What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.
What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
Finding the right crypto trading platform with less demanding event eligibility criteria often stands out top for me. Next is to get familiar with the trading eligibility instructions and get ready to meet the requirements. Recently I found futures elite trader's events announced by Bitget. First thing, I looked up their requirements to see if It's something I can meet up with.
Minimize losses, and maximize profits. The way you can achieve it is by having good risk management, for example, good risk: reward ratio.
It is mission for all traders and what they all want to achieve but the reality is most of traders don't get profit and don't achieve these things.Quote
Since it is a trading competition, expect there are a lot of other traders better than you, so don't get too comfortable.
Respect the market, avoid chasing losses and have patience - this is the most important too.
Because of a fact that most of traders get loss, if they don't belong to very minority of traders who can get profit from trading, and they can not get profit in normal trading - not in trading competitions, it's supposed that they won't get better results in trading competitions when pressure is bigger than in normal tradings. It means that with most of traders, joining in trading competitions means risk of losing more money.Respect the market, avoid chasing losses and have patience - this is the most important too.
Trading competitions are for very professional traders, so if you're not such a pro in trading, don't join it.
These seems to be an issue for traders. Why don't they get profits even been good. As for trading competitions someone suggested one on Bitget. I checked the volume requirements it doesn't need much. I'm seriously considering giving it a try✅
I’d love to hear about your experiences participating in trading competitions and get some tips.
What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
I don’t think there’s basically anything you need to add if at all your good in taking your own trades, first thing I will advice you is to check the criteria or basis in which the competition will use to determine the results, some of the competitions I have witnessed mostly use the trading volume while other use the number or winning trades, the former is mostly the common although i don’t fancy those ones because mostly they are mostly won by those who have high capital. Volume to me is never a good way to rate a good trader.
As for technique I will say you should stick your trading plan and technical skills, the only problem might be you need to trade more for that period, so if you’re maybe a swing trader then it is another task to switch to a daily trading
I do all these im just impatient. Any books you can recommend that'll aid my trading psychology?
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How experience are you in trading?
How well can you tolerate risk? And are you ready for the outcome?
Your answer to questions above determine how prepared you are. Participating in trading competition is not for amateur traders nor for low risk takers. Some of your fellow competitors have been in the field for long and are well experienced yet ready to risk since they're already living in profits. The organizers are interested in how much you are willing to risk. If you can risk it, you can join to at least have the experience as first timer.
This is where many competitors got it wrong in most cases. When you are to focus to overtake and move your position, you are likely to make a wrong analysis that'll end you up falling down on the list. It is fun to participate but it is not advisable considering the risk involved.
They are too greedy to chase the better position and not thinks with calm to analyze the market situation. That makes them in a wrong way because they make a wrong analysis which can lead them to lost their money and that means they lose their chance to lift their rank. Indeed it is exciting to participates in the trading events but you must know how good your skill in trading and remember that many people will have better skills than you. If you don't mind to trade based on your skills and you participate in that trading events because you want to get more experience, that will be good for you because you can see the competition between each trader. We must know how to manage the risks of losing money in trading so we need to learn more about trading. How well can you tolerate risk? And are you ready for the outcome?
Your answer to questions above determine how prepared you are. Participating in trading competition is not for amateur traders nor for low risk takers. Some of your fellow competitors have been in the field for long and are well experienced yet ready to risk since they're already living in profits. The organizers are interested in how much you are willing to risk. If you can risk it, you can join to at least have the experience as first timer.
When you can lift up your ranks, it is better to keep calm and not too happy because that can make you underestimate other traders and will make you a wrong analysis. Stay focus to your trade and not think about lifting your position because if you do better trade, your position will be up.
This is where many competitors got it wrong in most cases. When you are to focus to overtake and move your position, you are likely to make a wrong analysis that'll end you up falling down on the list. It is fun to participate but it is not advisable considering the risk involved.
But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips. What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
My experience has been an interesting one because it challenges me to go out of my comfort zone and try to take more risks by increasing my trading capital but I still don't over exceed my risk tolerance. My regrets with trading competition is that I didn't trade everyday the last time I participated in one. Trading almost everyday increase the profits that you're going to be making and it puts you among the top earners. Already you have to be very experienced with trading before going to join a competition. For people that don't have any experience, they don't have to join the competition but if you already are a trader that is confident of having successful trade, you can join and try you luck to see if you can be among the lucky winners. Trading competition aren't for low budget traders and those not use to lots of risk, you have to risk more money than when you're trading for your own gains.
Minimize losses, and maximize profits. The way you can achieve it is by having good risk management, for example, good risk: reward ratio.
It is mission for all traders and what they all want to achieve but the reality is most of traders don't get profit and don't achieve these things.Quote
Since it is a trading competition, expect there are a lot of other traders better than you, so don't get too comfortable.
Respect the market, avoid chasing losses and have patience - this is the most important too.
Because of a fact that most of traders get loss, if they don't belong to very minority of traders who can get profit from trading, and they can not get profit in normal trading - not in trading competitions, it's supposed that they won't get better results in trading competitions when pressure is bigger than in normal tradings. It means that with most of traders, joining in trading competitions means risk of losing more money.Respect the market, avoid chasing losses and have patience - this is the most important too.
Trading competitions are for very professional traders, so if you're not such a pro in trading, don't join it.
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I don't think there's anything different about it from regular trading other than the additional stakes as a competition so if you're already a pretty good trader, there's nothing much for you to do really. Ofc it may vary based on the way the competiton is making you guys compete with but jus stick to what you know and you'd be fine. Even if you lose the competition itself you should only lose ny failing to maximize profits. Minimizing losses shluld always be the bare minimum.
The only new factor here I reckon is time abd money involved since you're definitely going to need to trade a lot more than usual.
How experience are you in trading?
How well can you tolerate risk? And are you ready for the outcome?
Your answer to questions above determine how prepared you are. Participating in trading competition is not for amateur traders nor for low risk takers. Some of your fellow competitors have been in the field for long and are well experienced yet ready to risk since they're already living in profits. The organizers are interested in how much you are willing to risk. If you can risk it, you can join to at least have the experience as first timer.
This is true, a lot of people think that there are answers which fit the questions directly and not realize that each question could have different answers depending on the person and the situation they are in. This is why most questions about trading and investment stay afloat and they can't really do anything about it, we need to focus on getting better results and we need to do a lot better. I know that it's hard and not be done at all but we are going to deal with something that is getting a great deal of attention towards yourself and your situation when thinking about these questions.How well can you tolerate risk? And are you ready for the outcome?
Your answer to questions above determine how prepared you are. Participating in trading competition is not for amateur traders nor for low risk takers. Some of your fellow competitors have been in the field for long and are well experienced yet ready to risk since they're already living in profits. The organizers are interested in how much you are willing to risk. If you can risk it, you can join to at least have the experience as first timer.
What could be easy for me could be hard for you and what could be easy for you could be hard for me and that's the most important part. I believe that the best thing to do right now would be just focusing on how to make more money with whatever we have, so it can't be really dealing with getting greater results if we focus on personal situation without a much deal.
Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.
Yes, this week has been good for me and so does the last week. I've made some profits, not a lot but at least 1%-2% in most of my trades. I'm not doing any kind of shorting these days as the market has been bearish in past few days but now it seems like a good time for me to open some short positions.
I used to avoid trading competitions because they weren't giving me enough rewards for my time but recently I have made some profits by participating in some trading competitions.
I guess, this week I may have some better profits by shorting and averaging my positions. Let's see what happens, and how the market reacts.
Quote from: Iamcrypticguy
Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.
What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
Good to hear that from you OP, because it is our joy to see other traders making profits from their short term trading, to me my new week is going well because i made some profits from the coins I traded yesterday and i will still like to buy more of those coins when their price dump again. What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
You want to prepare for a bigger profit right ? I will advise you to make use of long term trading and you will get what you want in trading, because all those coins you are trading use to bring big profit when the massive bull run occur but you have to make use of long term trading to accumulate profits from the industry. Bull season is the best to approach the market because the price of many coins will be pumping higher for traders to turn to expert in profit making in the industry.
What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
If you are already a good trader, there will not be any need for any extra preparation for a trading competition, as you would already be prepared. An expert trader will not feel too tensed up about a trading competition; there will be a level of confidence that they have in the trading skills that they have. New traders who are still learning to trade and are still finding their way around the rudiments have no business involving themselves in trading competitions because such competitions can pull them under pressure, after which they end up failing and then creating the mindset that maybe trading is not for them or they are not destined to be successful traders, forgetting that their outcome is because they took action without proper preparation. 
How experience are you in trading?
How well can you tolerate risk? And are you ready for the outcome?
Your answer to questions above determine how prepared you are. Participating in trading competition is not for amateur traders nor for low risk takers. Some of your fellow competitors have been in the field for long and are well experienced yet ready to risk since they're already living in profits. The organizers are interested in how much you are willing to risk. If you can risk it, you can join to at least have the experience as first timer.
This is where many competitors got it wrong in most cases. When you are to focus to overtake and move your position, you are likely to make a wrong analysis that'll end you up falling down on the list. It is fun to participate but it is not advisable considering the risk involved.
How well can you tolerate risk? And are you ready for the outcome?
Your answer to questions above determine how prepared you are. Participating in trading competition is not for amateur traders nor for low risk takers. Some of your fellow competitors have been in the field for long and are well experienced yet ready to risk since they're already living in profits. The organizers are interested in how much you are willing to risk. If you can risk it, you can join to at least have the experience as first timer.
When you can lift up your ranks, it is better to keep calm and not too happy because that can make you underestimate other traders and will make you a wrong analysis. Stay focus to your trade and not think about lifting your position because if you do better trade, your position will be up.
This is where many competitors got it wrong in most cases. When you are to focus to overtake and move your position, you are likely to make a wrong analysis that'll end you up falling down on the list. It is fun to participate but it is not advisable considering the risk involved.
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Activity: 2912
Merit: 541
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You should prepare yourself to handle your emotions because participating in the trading competitions will makes you becomes up and down especially when you see your position. You will want to trade without stop to chase a better position and can lose your control managing your money. The best approach is when you can analyze the market will calmly and not in rush to enter the market without preparation. Besides that, you must know how to analyze better so you will make a profit and manage your lose not to become bigger.
When you can lift up your ranks, it is better to keep calm and not too happy because that can make you underestimate other traders and will make you a wrong analysis. Stay focus to your trade and not think about lifting your position because if you do better trade, your position will be up.
When you can lift up your ranks, it is better to keep calm and not too happy because that can make you underestimate other traders and will make you a wrong analysis. Stay focus to your trade and not think about lifting your position because if you do better trade, your position will be up.
Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.
What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
After you join a trading competition, know that the trading site will not recognize you if you do not trade with huge amount of money. They only prefer to know those that are trading with huge amount of money. Also you will need to earn money from the coin of the competition than losing from it. Not much requirements to join the competition than to press on something like 'join' when the exchange that you are using send you the message to join. If you are not on the exchange, you will see a link to register an account on the exchange and then join the competition. What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
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What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
Minimize losses, and maximize profits. The way you can achieve it is by having good risk management, for example, good risk: reward ratio.What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
Since it is a trading competition, expect there are a lot of other traders better than you, so don't get too comfortable.
Respect the market, avoid chasing losses and have patience - this is the most important too.
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